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Cited by 699

The DOI matches its Crossref record; 39 of the 39 references it cites were found in a registry or an index.

Does financial literacy improve financial inclusion? Cross country evidence

Open access
Grohmann, Antonia, Klühs, Theres, Menkhoff, Lukas·2018·World Development
DOI 10.1016/j.worlddev.2018.06.020
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Abstract

While financial inclusion is typically addressed by improving the financial infrastructure we show that financial literacy, representing the demand-side of financial markets, also has a beneficial effect. We study this effect at the cross-country level, which allows to consider institutional variation. Regarding “access to finance”, financial infrastructure and financial literacy are mainly substitutes. However, regarding the “use of financial services”, the effect of higher financial literacy strengthens the effect of more financial depth. The causal interpretation of these results is supported by IV-regressions. Moreover, the positive impact of financial literacy holds across income levels and several subgroups within countries.

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Metadata

Authors
Grohmann, A., Klühs, T., & Menkhoff, L.
Venue
World Development
Publisher
Elsevier BV
Published
2018-11
Volume
111
Pages
84-96
ISSN
0305-750X (ISSN-L)
DOI
10.1016/j.worlddev.2018.06.020
OpenAlex
W2760154708
Cited by
699
References
39
FWCI
54.17
Type
journal article
Language
en
Open access
green

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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.