Determinants and Reflection of Financial Inclusion: An International Evidences

(Pages 1346-1357)

Osama Wagdi1,* and Yasmeen Tarek2
1Finance and Accounting Department; School of Business; International Academy for Engineering and Media Science - IAEMS, Egypt. ORCID 0000-0003-0451-9726; ResearcherID: D-4898-2019; Scopus Author ID: 57212470180.
2Financial Institutions Department, Faculty of Management, Modern University for Technology & Information - MTI, Egypt.


This research investigates the factors and reflections of access to financing. The research uses quantitative and qualitative analysis with international evidence. The quantitative analysis included fifty countries from six continents based on the World Bank database from 2011–2017. However, 392 professionals and academics from 29 countries participated in the qualitative analysis. The finding clarifies a change in the methodology for measuring financial inclusion, which the research can explain as one of the repercussions of the Fourth Industrial Revolution. The quantitative results presented the impact of financial inclusion on GDP per capita growth and domestic credit to the private sector. Furthermore, qualitative results showed that the order of the determinants of financial inclusion are "the demographic determinants," especially with regard to the level of education; then "economic determinants"; and the "banking industry determinants" are the third. As for the four most important reflections of financial inclusion, they are "improved credit risk scoring efficiency", "enhances the relation between income inequity and economic development", "improves GDP per capita" and "supports financial sustainability".


Financial inclusion, GDP per Capita Growth, Domestic Credit, Private Sector, Banking technology services.

JEL Classification:

G21, O30.

How to Cite:

Osama Wagdi and Yasmeen Tarek. Determinants and Reflection of Financial Inclusion: An International Evidences. [ref]: vol.20.2022. available at:

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