Social integration and financial inclusion of forcibly displaced persons in Sub-Saharan African countries
Most government and international financial institutions worldwide have adopted financial inclusion as a veritable platform for achieving the Social Development Goals of hunger and poverty eradication, inequality reduction, and employment creation. Their efforts will not yield much dividend if a siz...
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| Format: | Article |
| Language: | English |
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LLC "CPC "Business Perspectives"
2020-09-01
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| Series: | Problems and Perspectives in Management |
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| Online Access: | https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/13938/PPM_2020_03_Achugamonu.pdf |
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| author | Achugamonu Bede Uzoma Kehinde A. Adetiloye Adegbite O. Esther Patrick O. Eke Godswill Osagie Osuma |
| author_facet | Achugamonu Bede Uzoma Kehinde A. Adetiloye Adegbite O. Esther Patrick O. Eke Godswill Osagie Osuma |
| author_sort | Achugamonu Bede Uzoma |
| collection | DOAJ |
| description | Most government and international financial institutions worldwide have adopted financial inclusion as a veritable platform for achieving the Social Development Goals of hunger and poverty eradication, inequality reduction, and employment creation. Their efforts will not yield much dividend if a sizeable part of the populace are constrained from social and formal financial inclusion due to social disorder. This study examined the relationship between social seclusion of forcibly displaced persons from formal financial inclusion in twenty-seven Sub-Saharan African countries. Granger Error Correction Method (ECM) with Generalized Methods of Moments (GMM) was used to analyze the short panel data obtained from the World Bank database. The study found a negative long-run relationship between social seclusion and financial inclusion. That is, an increase in social menace overtime will result in more people being financially excluded from formal financial transactions. It, therefore, recommends, amongst others, that government should encourage forcibly displaced persons to become gainfully employed and productive. Specifically, persons in refugee and internally displaced persons camps should be trained to acquire skills that will enable them to become self-employed, create wealth for themselves, and contribute actively to the sustainable economic growth of their host country rather than just provide food and other welfare packages as a temporal palliative for survival. |
| first_indexed | 2024-12-21T00:37:13Z |
| format | Article |
| id | doaj.art-fba395b0afbc4a218a18ddc3bc883042 |
| institution | Directory Open Access Journal |
| issn | 1727-7051 1810-5467 |
| language | English |
| last_indexed | 2024-12-21T00:37:13Z |
| publishDate | 2020-09-01 |
| publisher | LLC "CPC "Business Perspectives" |
| record_format | Article |
| series | Problems and Perspectives in Management |
| spelling | doaj.art-fba395b0afbc4a218a18ddc3bc8830422022-12-21T19:21:47ZengLLC "CPC "Business Perspectives"Problems and Perspectives in Management1727-70511810-54672020-09-0118317018110.21511/ppm.18(3).2020.1513938Social integration and financial inclusion of forcibly displaced persons in Sub-Saharan African countriesAchugamonu Bede Uzoma0https://orcid.org/0000-0003-3797-7686Kehinde A. Adetiloye1Adegbite O. Esther2Patrick O. Eke3Godswill Osagie Osuma4https://orcid.org/0000-0001-9242-5265Ph.D., Lecturer, Department of Banking & Finance, Covenant University, OtaPh.D., Associate Professor, Department of Banking & Finance, Covenant University, OtaPh.D., Professor, Department of Finance, University of Lagos, Akoka, YabaPh.D., Lecturer, Department of Banking & Finance, Lagos State University, Ojo, LagosPh.D., Lecturer, Department of Banking and Finance, Covenant University, OtaMost government and international financial institutions worldwide have adopted financial inclusion as a veritable platform for achieving the Social Development Goals of hunger and poverty eradication, inequality reduction, and employment creation. Their efforts will not yield much dividend if a sizeable part of the populace are constrained from social and formal financial inclusion due to social disorder. This study examined the relationship between social seclusion of forcibly displaced persons from formal financial inclusion in twenty-seven Sub-Saharan African countries. Granger Error Correction Method (ECM) with Generalized Methods of Moments (GMM) was used to analyze the short panel data obtained from the World Bank database. The study found a negative long-run relationship between social seclusion and financial inclusion. That is, an increase in social menace overtime will result in more people being financially excluded from formal financial transactions. It, therefore, recommends, amongst others, that government should encourage forcibly displaced persons to become gainfully employed and productive. Specifically, persons in refugee and internally displaced persons camps should be trained to acquire skills that will enable them to become self-employed, create wealth for themselves, and contribute actively to the sustainable economic growth of their host country rather than just provide food and other welfare packages as a temporal palliative for survival.https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/13938/PPM_2020_03_Achugamonu.pdfpovertysocial integrationsocial seclusionSustainable Development Goalsunemployment |
| spellingShingle | Achugamonu Bede Uzoma Kehinde A. Adetiloye Adegbite O. Esther Patrick O. Eke Godswill Osagie Osuma Social integration and financial inclusion of forcibly displaced persons in Sub-Saharan African countries Problems and Perspectives in Management poverty social integration social seclusion Sustainable Development Goals unemployment |
| title | Social integration and financial inclusion of forcibly displaced persons in Sub-Saharan African countries |
| title_full | Social integration and financial inclusion of forcibly displaced persons in Sub-Saharan African countries |
| title_fullStr | Social integration and financial inclusion of forcibly displaced persons in Sub-Saharan African countries |
| title_full_unstemmed | Social integration and financial inclusion of forcibly displaced persons in Sub-Saharan African countries |
| title_short | Social integration and financial inclusion of forcibly displaced persons in Sub-Saharan African countries |
| title_sort | social integration and financial inclusion of forcibly displaced persons in sub saharan african countries |
| topic | poverty social integration social seclusion Sustainable Development Goals unemployment |
| url | https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/13938/PPM_2020_03_Achugamonu.pdf |
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