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Factors Affecting Financial Inclusion

Student: Geraskina Darina

Supervisor: Egor Krivosheya

Faculty: International College of Economics and Finance

Educational Programme: Double degree programme in Economics of the NRU HSE and the University of London (Bachelor)

Final Grade: 7

Year of Graduation: 2020

This paper determines the impact of macro and microeconomic parameters on financial inclusion on the international market. Financial inclusion in the economic and financial sphere has attracted a lot of interest both among academia and practitioners. Access to modern financial instruments, such as accounts, transfers, deposits, and loans, can not only bring direct economic benefits but also bring the possibilities for carrying out effective economic activities. The current situation in the world contributes to the idea of relevance financial inclusion, and that it should be increased. This work can be useful to both private and public sectors, it will help to formulate effective development strategies for all market participants. The paper presents a cross-country empirical analysis of the relationship between financial inclusion and its factors. The study is based on data from the World Bank for 2017 in 144 countries. The course of the work established which factors contribute to the development and increase of financial inclusion. GDP per capita, migration, inequality, corruption, internet use, electricity and other macro parameters will figurate in the analysis. The work tells about the positive effect of economic and political factors, literacy, and technical equipment on financial inclusion. The results also remain significant after the addition of control variables on individual level, including age, income, education level, payment methods for utilities, saving, transfers, and the availability of documents. This work contributes to the existing literature on the economics of determining financial inclusion and increasing it in developing countries.

Full text (added June 11, 2020)

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