Understanding the Access and Use of Financial Inclusion: a Panel Data Analysis for the Andean Community
DOI:
https://doi.org/10.26439/ddee.vi001.5388Keywords:
financial inclusion, use, access, legality, informationAbstract
Financial inclusion is important because it allows to reduce poverty and inequality and promote economic growth. The aim of this article is to identify the determinants of financial inclusion in the countries of the Andean Community. Three panel data models are proposed with data from Bolivia, Colombia, Ecuador and Perú for the period 2005-2018. The results show that, in the use-deposit and use-credit models, the GDP per capita, the legality index, private credit registries, the credit information index, education spending, population density and inflation are significant variables which explain financial inclusion. Likewise, we find that in the model of access the population density has a negative relationship with the number of automated teller machines.
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