Does financial literacy inevitably lead to access to finance services? Evidence from rural Ghana
Autor(a) principal: | |
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Data de Publicação: | 2022 |
Outros Autores: | , , , , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Ciência Rural |
Texto Completo: | http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0103-84782022000300952 |
Resumo: | ABSTRACT: This study examined the determinants of financial literacy (FL) and its impact on access to financial services (AFS), using data collected from rural Ghana. A two-stage residual inclusion model is utilized to address the selection bias issue. The results showed that FL is affected by household heads’ age, gender, education, asset ownership, homeownership, and economics education. The results revealed that FL is significant and positively related to AFS, but its square shows an inverse relation with saving mobilization. This indicated a non-linear relationship between FL and AFS. Moreover, we find that FL has a larger AFS impact for households with high-income and male household heads relative to their counterparts. The study recommended that the government can initiate the creation of a rural committee to educate rural residents on financial issues through radio broadcasting and meetings. Our findings highlighted the importance of FL on AFS in enhancing the welfare of rural households. |
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Ciência rural (Online) |
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Does financial literacy inevitably lead to access to finance services? Evidence from rural Ghanaaccess to financial servicesfinancial literacytwo-stage residual inclusion modelGhana JEL codes: D91C21C26D12ABSTRACT: This study examined the determinants of financial literacy (FL) and its impact on access to financial services (AFS), using data collected from rural Ghana. A two-stage residual inclusion model is utilized to address the selection bias issue. The results showed that FL is affected by household heads’ age, gender, education, asset ownership, homeownership, and economics education. The results revealed that FL is significant and positively related to AFS, but its square shows an inverse relation with saving mobilization. This indicated a non-linear relationship between FL and AFS. Moreover, we find that FL has a larger AFS impact for households with high-income and male household heads relative to their counterparts. The study recommended that the government can initiate the creation of a rural committee to educate rural residents on financial issues through radio broadcasting and meetings. Our findings highlighted the importance of FL on AFS in enhancing the welfare of rural households.Universidade Federal de Santa Maria2022-01-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S0103-84782022000300952Ciência Rural v.52 n.3 2022reponame:Ciência Ruralinstname:Universidade Federal de Santa Maria (UFSM)instacron:UFSM10.1590/0103-8478cr20210112info:eu-repo/semantics/openAccessTwumasi,Martinson AnkrahJiang,YuanshengWang,Pengchengding,ZhaoFrempong,Lady NadiaAcheampong,Monica Owusueng2021-09-20T00:00:00ZRevista |
dc.title.none.fl_str_mv |
Does financial literacy inevitably lead to access to finance services? Evidence from rural Ghana |
title |
Does financial literacy inevitably lead to access to finance services? Evidence from rural Ghana |
spellingShingle |
Does financial literacy inevitably lead to access to finance services? Evidence from rural Ghana Twumasi,Martinson Ankrah access to financial services financial literacy two-stage residual inclusion model Ghana JEL codes: D91 C21 C26 D12 |
title_short |
Does financial literacy inevitably lead to access to finance services? Evidence from rural Ghana |
title_full |
Does financial literacy inevitably lead to access to finance services? Evidence from rural Ghana |
title_fullStr |
Does financial literacy inevitably lead to access to finance services? Evidence from rural Ghana |
title_full_unstemmed |
Does financial literacy inevitably lead to access to finance services? Evidence from rural Ghana |
title_sort |
Does financial literacy inevitably lead to access to finance services? Evidence from rural Ghana |
author |
Twumasi,Martinson Ankrah |
author_facet |
Twumasi,Martinson Ankrah Jiang,Yuansheng Wang,Pengcheng ding,Zhao Frempong,Lady Nadia Acheampong,Monica Owusu |
author_role |
author |
author2 |
Jiang,Yuansheng Wang,Pengcheng ding,Zhao Frempong,Lady Nadia Acheampong,Monica Owusu |
author2_role |
author author author author author |
dc.contributor.author.fl_str_mv |
Twumasi,Martinson Ankrah Jiang,Yuansheng Wang,Pengcheng ding,Zhao Frempong,Lady Nadia Acheampong,Monica Owusu |
dc.subject.por.fl_str_mv |
access to financial services financial literacy two-stage residual inclusion model Ghana JEL codes: D91 C21 C26 D12 |
topic |
access to financial services financial literacy two-stage residual inclusion model Ghana JEL codes: D91 C21 C26 D12 |
description |
ABSTRACT: This study examined the determinants of financial literacy (FL) and its impact on access to financial services (AFS), using data collected from rural Ghana. A two-stage residual inclusion model is utilized to address the selection bias issue. The results showed that FL is affected by household heads’ age, gender, education, asset ownership, homeownership, and economics education. The results revealed that FL is significant and positively related to AFS, but its square shows an inverse relation with saving mobilization. This indicated a non-linear relationship between FL and AFS. Moreover, we find that FL has a larger AFS impact for households with high-income and male household heads relative to their counterparts. The study recommended that the government can initiate the creation of a rural committee to educate rural residents on financial issues through radio broadcasting and meetings. Our findings highlighted the importance of FL on AFS in enhancing the welfare of rural households. |
publishDate |
2022 |
dc.date.none.fl_str_mv |
2022-01-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0103-84782022000300952 |
url |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0103-84782022000300952 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
10.1590/0103-8478cr20210112 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
text/html |
dc.publisher.none.fl_str_mv |
Universidade Federal de Santa Maria |
publisher.none.fl_str_mv |
Universidade Federal de Santa Maria |
dc.source.none.fl_str_mv |
Ciência Rural v.52 n.3 2022 reponame:Ciência Rural instname:Universidade Federal de Santa Maria (UFSM) instacron:UFSM |
instname_str |
Universidade Federal de Santa Maria (UFSM) |
instacron_str |
UFSM |
institution |
UFSM |
reponame_str |
Ciência Rural |
collection |
Ciência Rural |
repository.name.fl_str_mv |
|
repository.mail.fl_str_mv |
|
_version_ |
1749140556599001088 |