Digital transformation, financial access and discrepancies in household wealth accumulation
AbstractIn a world where financial capital serves as the backbone of individual and societal economic health, understanding the mechanisms that can stimulate or hinder its accumulation is critical. This study explores how the accessibility of banking services and the integration of digital finance c...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Taylor & Francis Group
2023-06-01
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| Series: | Cogent Economics & Finance |
| Subjects: | |
| Online Access: | https://www.tandfonline.com/doi/10.1080/23322039.2023.2241700 |
| _version_ | 1827874787336126464 |
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| author | Koffi Sodokin Joseph Kokouvi Djafon Mawuli Kodjovi Couchoro Akoété Ega Agbodji |
| author_facet | Koffi Sodokin Joseph Kokouvi Djafon Mawuli Kodjovi Couchoro Akoété Ega Agbodji |
| author_sort | Koffi Sodokin |
| collection | DOAJ |
| description | AbstractIn a world where financial capital serves as the backbone of individual and societal economic health, understanding the mechanisms that can stimulate or hinder its accumulation is critical. This study explores how the accessibility of banking services and the integration of digital finance can influence the accumulation of financial wealth, as well as disparities in household savings. Drawing on data derived from the Finscope Consumer Survey for Togo 2016 and the Harmonized Living Standards Measurement Study 2018 for Togo, this study employs a range of analytical methodologies including propensity score matching, double difference, and smoothed instrumental variable quantile regression tools. The outcomes of this study underscore that access to banking services and digital finance significantly enhances physical asset investment and the adoption of sound financial practices rather than an increase in bank savings alone. Therefore, the emergence of digital finance can be seen as a missing link in the formal financial system’s ability to improve the efficiency of financial service provision and make a significant contribution to reducing inequalities in wealth accumulation. This study sheds light on the significant decrease in inequality concerning the capacity for wealth accumulation among households. |
| first_indexed | 2024-03-12T16:56:49Z |
| format | Article |
| id | doaj.art-7e3fef4e084c4694abf63f5d6f54bb46 |
| institution | Directory Open Access Journal |
| issn | 2332-2039 |
| language | English |
| last_indexed | 2024-03-12T16:56:49Z |
| publishDate | 2023-06-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | Cogent Economics & Finance |
| spelling | doaj.art-7e3fef4e084c4694abf63f5d6f54bb462023-08-08T05:29:57ZengTaylor & Francis GroupCogent Economics & Finance2332-20392023-06-0111210.1080/23322039.2023.2241700Digital transformation, financial access and discrepancies in household wealth accumulationKoffi Sodokin0Joseph Kokouvi Djafon1Mawuli Kodjovi Couchoro2Akoété Ega Agbodji3Research Center for Applied Economics and Management of Organisations (CREAMO), University of Lome, TogoResearch Center for Applied Economics and Management of Organisations (CREAMO), University of Lome, TogoResearch Center for Applied Economics and Management of Organisations (CREAMO), University of Lome, TogoResearch Center for Applied Economics and Management of Organisations (CREAMO), University of Lome, TogoAbstractIn a world where financial capital serves as the backbone of individual and societal economic health, understanding the mechanisms that can stimulate or hinder its accumulation is critical. This study explores how the accessibility of banking services and the integration of digital finance can influence the accumulation of financial wealth, as well as disparities in household savings. Drawing on data derived from the Finscope Consumer Survey for Togo 2016 and the Harmonized Living Standards Measurement Study 2018 for Togo, this study employs a range of analytical methodologies including propensity score matching, double difference, and smoothed instrumental variable quantile regression tools. The outcomes of this study underscore that access to banking services and digital finance significantly enhances physical asset investment and the adoption of sound financial practices rather than an increase in bank savings alone. Therefore, the emergence of digital finance can be seen as a missing link in the formal financial system’s ability to improve the efficiency of financial service provision and make a significant contribution to reducing inequalities in wealth accumulation. This study sheds light on the significant decrease in inequality concerning the capacity for wealth accumulation among households.https://www.tandfonline.com/doi/10.1080/23322039.2023.2241700bank financial services accessdigital financewealth accumulationO41G21O33 |
| spellingShingle | Koffi Sodokin Joseph Kokouvi Djafon Mawuli Kodjovi Couchoro Akoété Ega Agbodji Digital transformation, financial access and discrepancies in household wealth accumulation Cogent Economics & Finance bank financial services access digital finance wealth accumulation O41 G21 O33 |
| title | Digital transformation, financial access and discrepancies in household wealth accumulation |
| title_full | Digital transformation, financial access and discrepancies in household wealth accumulation |
| title_fullStr | Digital transformation, financial access and discrepancies in household wealth accumulation |
| title_full_unstemmed | Digital transformation, financial access and discrepancies in household wealth accumulation |
| title_short | Digital transformation, financial access and discrepancies in household wealth accumulation |
| title_sort | digital transformation financial access and discrepancies in household wealth accumulation |
| topic | bank financial services access digital finance wealth accumulation O41 G21 O33 |
| url | https://www.tandfonline.com/doi/10.1080/23322039.2023.2241700 |
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