Determinants of Nonconventional Financial Inclusion: Evidence from Southeast Asia before and during the Covid-19 Pandemic

Date

6-2024

Degree

Bachelor of Science in Economics

College

College of Economics and Management (CEM)

Adviser/Committee Chair

Maria Luisa G. Valera

Committee Member

Niño Alejandro Q. Manalo, Gideon P. Carnaje, Maria Angeles O. Catelo

Abstract

This study examines the determinants of nonconventional financial inclusion in terms of access (ownership of debit cards, credit cards, and mobile money accounts) and usage (through debit cards and mobile phones or the internet to access accounts and pay bills) in select lower middle-income countries in Southeast Asia that includes Cambodia, Indonesia, Laos, Myanmar, and the Philippines before and during the COVID-19 pandemic using the World Bank Global Findex database for 2017 and 2021. The results reveal that a higher level of nonconventional financial inclusion in 2021 has been observed as compared to 2017.Yet, access to and usage of nonconventional financial services remain relatively low. Results show that males, individuals with higher educational attainment, and having higher income are more likely to have access and use digital financial services. Additionally, those employed particularly the younger individuals who are in the early working age group tend to use digital financial services more than the other age groups. Enhancing internet infrastructure, promoting fintech development, and fostering multistakeholder collaborations targeting the underserved populations are essential steps toward more achieving inclusive digital payment environment in Southeast Asia.

Language

English

LC Subject

Financial Services Industry, Electronic fund transfer

Location

UPLB College of Economics and Management (CEM)

Call Number

LG 993.5 2024 E2 C49

Notes

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Document Type

Thesis

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