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The Link between Financial Inclusion and Poverty: A Case of the OECD Using Dynamic Panel Data Analysis

Yıl 2022, Cilt: 23 Sayı: 1, 89 - 106, 01.06.2022
https://doi.org/10.17494/ogusbd.1085143

Öz

The aim of the study is to measure the impact of policies towards facilitating access to financial instruments, especially on the living standards of the lower income segment of the society. Hence, a multidimensional financial inclusion index representing access to financial instruments was created. Then, the absolute, social and income distribution-related definitions of the concept of poverty were analyzed separately. The link between financial inclusion and different definitions of poverty was measured by Dynamic Panel Data Analysis methods. The methodology of the analysis reveals the uniqe side of the study and its contribution to the literature. It has been revealed with the outcomes of study that policies for increasing access to financial instruments, have positive effects on the living standards of people in the lowest segments of the society.

Kaynakça

  • Arellano, M. ve Bond, S. (1991). Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations, Review of Economic Studies, 58, 277-297.
  • Ashraf, N., Karlan, D., ve Yin, W. (2010). Female Empowerment: Impact of a Commitment Savings Product in the Philippines. World Development, 38, 333-344.
  • Barr, M. S. (2004). Banking the Poor. Yale Journal on Regulation, 21, 121-238.
  • Baum, C. F. (2006). An introduction to modern econometrics using Stata. College Station, Tex, Stata Press.
  • Baum C. F. (2013). Dynamic Panel Data estimators. Boston College, Spring 2013.
  • Bhandari, A. K. (2009). Access to banking services and poverty reduction: a state wise assessment in India. Bonn, Forschungsinstitut zur Zukunft der Arbeit Institute for the Study of Labor. IZA Discussion Paper No. 4132 April 2009.
  • Buckland, J. ve Guenther, B. (2005). There are no banks here: financial and insurance exclusion in Winnipeg's North End: a research report. Winnipeg, Winnipeg Inner-City Research Alliance.
  • Chibba, M. (2007). Monetary Policy, Governance and Economic Development: The Botswana experience. World Economics -Henley on Thames-, 8, 111-130.
  • Chibba, M. (2008a). Poverty Reduction in Developing Countries No consensus but plenty of solutions. World Economics -Henley on Thames-, 9, 197-200.
  • Chibba, M. (2008b). Monetary policy for small emerging market economies: the way forward. Macroeconomics and Finance in Emerging Market Economies, 1, 299-306.
  • Chibba, M. (2008c). Financial Inclusion and Development: Concepts, Lessons Learned and Key Pillars. Mimeo.
  • Christen, R., Rhyne, E. ve Vogel, R. (1994). Maximizing the Outreach of Microenterprise Finance: The Emerging Lessons of Successful Programs. Focus Note No. 2. CGAP Consultative Group to Assist the Poorest, Washington DC.
  • Claessens, S. (2005). Access to financial services: A review of the issues and public policy objectives. [Washington, D.C.], World Bank, Financial Sector Operations and Policy Dept.
  • Connolly, C. ve Hajaj, K. (2001). Financial services and social exclusion. Sydney, N.S.W., Financial Services, Consumer Policy Centre, University of New South Wales.
  • Dollar, D. ve A. Kraay. (2002). Growth is Good for the Poor. Journal of Economic Growth- Dordrecht-, 7, 195-225.
  • Drukker M. D., (2009). Generalized method of moments estimation in Stata. 11. Stata Conference Washington, DC 2009.
  • Dupas, P. ve Robinson, J. (2009). Savings constraints and microenterprise development evidence from a field experiment in Kenya. Cambridge, Mass, National Bureau of Economic Research.
  • Dupas, P. ve Robinson, J. (2011). Why don't the poor save more? Evidence from health savings experiments. Cambridge, Mass, National Bureau of Economic Research.
  • Emara, N. ve Mohieldin, M. (2020). Financial inclusion and extreme poverty in the MENA region: a gap analysis approach. Review of Economics and Political Science, Vol. 5 No. 3, pp. 207-230.
  • Hannig, A. ve Jansen, S. (2010). Financial inclusion and financial stability: current policy issues. Tokyo, Asian Development Bank Inst.
  • Hanmer, L., ve Naschold, F. (2000). Attaining the international development targets: will growth be enough? Development Policy Review. 18.
  • Honohan, P. (2006). Household financial assets in the process of development. Washington, D.C, World Bank.
  • Hutcheson, G. ve Sofroniou, N. (1999). The multivariate social scientist introductory statistics using generalized linear models. London, Sage Publications Jolliffe, I.T. (1986). Principal component analysis. New York, Springer-Verlag.
  • Jones, P. (2008). From tackling poverty to achieving the financial inclusion-The changing role of British credit unions in low-income communities. Journal of Socioeconomics, 37, 2141-2154.
  • Kempson, E. ve Whyley, C. (1998). Access to current accounts. London: British Bankers Association.
  • Kumar, C. ve Mishra, S. (2000). Banking Outreach and Household level Access: Analyzing Financial Inclusion in India. Indira Gandhi Institute of Development Research (IGIDR), Mumbai.
  • Mileva, E. (2007). Using Arellano-Bond Dynamic Panel GMM Estimators in Stata. Economics Department Fordham University, July 9, 2007.
  • Montgomery, R. (1996). Disciplining or protecting the poor? Avoiding the social costs of peer pressure in micro-credit schemes. Journal of International Development. 8, 289-305.
  • Mosley, P. ve Hulme, D. (1998). Microenterprise finance: is there a conflict between growth and poverty alleviation? World Development: The Multi-Disciplinary International Journal Devoted to the Study and Promotion of World Development, 26.
  • Nardo, M., ve Saisana, M. (2005). Tools for composite indicators building. European Commission.
  • OECD, (2008). OECD framework for the evaluation of SME and entrepreneurship policies and programs. Paris, OECD.
  • Omar, A. M. ve Inaba, K. (2020). Does financial inclusion reduce poverty and income inequality in developing countries? A panel data analysis. Journal of Economic Structures, 9:37, 2-25.
  • Pearson, K. (1901). On lines and planes of closest fit to systems of points in space. London, University College.
  • Pitt, M. M. ve Khandker, S. R. (1998). The impact of group-based credit programs on poor households in Bangladesh: Does the gender of participants matter? Journal of Political Economy, 106(5), 958–996.
  • Robinson, M. (1996). Some key questions on finance and poverty. Journal of International Development 8, (March-April), 153-161.
  • Roodman, D. (2009). How to do xtabond2: An introduction to difference and system GMM in Stata. STATA JOURNAL. 9 (1): 86-136.
  • Roodman, D. ve Morduch, J. (2009). The impact of microcredit on the poor in Bangladesh: Revisiting the evidence. Working paper 174, Washington, DC: Center for Global Development.
  • Rutherford, S. (1996). Learning from the urban informal sector. Paper presented at an international workshop on Poverty and Finance in Bangladesh. IDPAA and Proshika, Dhaka.
  • Sharma, R., Didwania, M., ve Kumar, P. (2011). Need of Financial Inclusion for Poverty Alleviation and GDP Growth. SSRN Electronic Journal. 10.2139/ssrn.2434473.
  • Stiglitz, J. (1998). The Role of the State in Financial Markets. Proceedings of the World Bank Annual Conference on Development Economics. p. 19–52. Washington, D.C., World Bank.
  • United Nations. (2013). The Millennium Development Goals Report 2013. United Nations Publications.
  • Van Rooyen, C., Stewart, R., ve De Wet, T. (2012). The Impact of Microfinance in Sub-Saharan Africa: A Systematic Review of the Evidence. World Development. 40, 2249-2262.
  • World Bank, (2008). Finance for All? Policies and Pitfalls in Expanding Success. A World Bank Policy Research Report. World Bank Group. http://www.myilibrary.com?id=119146.
  • World Bank, (2001). Banking the poor measuring banking access in 54 economies. Washington, DC, World Bank. http://public.eblib.com/choice/publicfullrecord.aspx?p=459845.

Finansal Erişim ve Yoksulluk İlişkisi: Dinamik Panel Veri Analizi ile OECD Örneği

Yıl 2022, Cilt: 23 Sayı: 1, 89 - 106, 01.06.2022
https://doi.org/10.17494/ogusbd.1085143

Öz

Çalışmanın amacı, finansal araçlara ulaşımın kolaylaştırılması yönünde politikaların, özellikle, toplumun alt gelir diliminde yer alan kesimlerinin yaşam standartları üzerindeki etkisinin ölçülmesidir. Bunun için ilk olarak, finansal araçlara ulaşımı temsil eden çok boyutlu bir finansal kapsayıcılık endeksi oluşturulmuştur. Oluşturulan endeks ile yoksulluk kavramının mutlak, sosyal ve gelir dağılımı ile ilintili tanımları ayrı ayrı analiz edilmiştir. Temel Bileşenler Analizi ve Faktör Analizi ile oluşturulan endeksimiz ile yoksulluğun farklı tanımları arasındaki ilişki Dinamik Panel Veri Analizi yöntemleri ile ölçülmüştür. Kullanılan yöntemler çok boyutlu ele alınan araştırma konusu aynı zamanda çalışmanın yenilikçi yanını ve literatüre katkısını ortaya koymaktadır. Çalışma sonucunda, finansal araçlara ulaşımı artırıcı politikaların toplumun alt kesimlerindeki insanların yaşam standartlarına olumlu yönde etkisi olduğu görülmüştür.

Kaynakça

  • Arellano, M. ve Bond, S. (1991). Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations, Review of Economic Studies, 58, 277-297.
  • Ashraf, N., Karlan, D., ve Yin, W. (2010). Female Empowerment: Impact of a Commitment Savings Product in the Philippines. World Development, 38, 333-344.
  • Barr, M. S. (2004). Banking the Poor. Yale Journal on Regulation, 21, 121-238.
  • Baum, C. F. (2006). An introduction to modern econometrics using Stata. College Station, Tex, Stata Press.
  • Baum C. F. (2013). Dynamic Panel Data estimators. Boston College, Spring 2013.
  • Bhandari, A. K. (2009). Access to banking services and poverty reduction: a state wise assessment in India. Bonn, Forschungsinstitut zur Zukunft der Arbeit Institute for the Study of Labor. IZA Discussion Paper No. 4132 April 2009.
  • Buckland, J. ve Guenther, B. (2005). There are no banks here: financial and insurance exclusion in Winnipeg's North End: a research report. Winnipeg, Winnipeg Inner-City Research Alliance.
  • Chibba, M. (2007). Monetary Policy, Governance and Economic Development: The Botswana experience. World Economics -Henley on Thames-, 8, 111-130.
  • Chibba, M. (2008a). Poverty Reduction in Developing Countries No consensus but plenty of solutions. World Economics -Henley on Thames-, 9, 197-200.
  • Chibba, M. (2008b). Monetary policy for small emerging market economies: the way forward. Macroeconomics and Finance in Emerging Market Economies, 1, 299-306.
  • Chibba, M. (2008c). Financial Inclusion and Development: Concepts, Lessons Learned and Key Pillars. Mimeo.
  • Christen, R., Rhyne, E. ve Vogel, R. (1994). Maximizing the Outreach of Microenterprise Finance: The Emerging Lessons of Successful Programs. Focus Note No. 2. CGAP Consultative Group to Assist the Poorest, Washington DC.
  • Claessens, S. (2005). Access to financial services: A review of the issues and public policy objectives. [Washington, D.C.], World Bank, Financial Sector Operations and Policy Dept.
  • Connolly, C. ve Hajaj, K. (2001). Financial services and social exclusion. Sydney, N.S.W., Financial Services, Consumer Policy Centre, University of New South Wales.
  • Dollar, D. ve A. Kraay. (2002). Growth is Good for the Poor. Journal of Economic Growth- Dordrecht-, 7, 195-225.
  • Drukker M. D., (2009). Generalized method of moments estimation in Stata. 11. Stata Conference Washington, DC 2009.
  • Dupas, P. ve Robinson, J. (2009). Savings constraints and microenterprise development evidence from a field experiment in Kenya. Cambridge, Mass, National Bureau of Economic Research.
  • Dupas, P. ve Robinson, J. (2011). Why don't the poor save more? Evidence from health savings experiments. Cambridge, Mass, National Bureau of Economic Research.
  • Emara, N. ve Mohieldin, M. (2020). Financial inclusion and extreme poverty in the MENA region: a gap analysis approach. Review of Economics and Political Science, Vol. 5 No. 3, pp. 207-230.
  • Hannig, A. ve Jansen, S. (2010). Financial inclusion and financial stability: current policy issues. Tokyo, Asian Development Bank Inst.
  • Hanmer, L., ve Naschold, F. (2000). Attaining the international development targets: will growth be enough? Development Policy Review. 18.
  • Honohan, P. (2006). Household financial assets in the process of development. Washington, D.C, World Bank.
  • Hutcheson, G. ve Sofroniou, N. (1999). The multivariate social scientist introductory statistics using generalized linear models. London, Sage Publications Jolliffe, I.T. (1986). Principal component analysis. New York, Springer-Verlag.
  • Jones, P. (2008). From tackling poverty to achieving the financial inclusion-The changing role of British credit unions in low-income communities. Journal of Socioeconomics, 37, 2141-2154.
  • Kempson, E. ve Whyley, C. (1998). Access to current accounts. London: British Bankers Association.
  • Kumar, C. ve Mishra, S. (2000). Banking Outreach and Household level Access: Analyzing Financial Inclusion in India. Indira Gandhi Institute of Development Research (IGIDR), Mumbai.
  • Mileva, E. (2007). Using Arellano-Bond Dynamic Panel GMM Estimators in Stata. Economics Department Fordham University, July 9, 2007.
  • Montgomery, R. (1996). Disciplining or protecting the poor? Avoiding the social costs of peer pressure in micro-credit schemes. Journal of International Development. 8, 289-305.
  • Mosley, P. ve Hulme, D. (1998). Microenterprise finance: is there a conflict between growth and poverty alleviation? World Development: The Multi-Disciplinary International Journal Devoted to the Study and Promotion of World Development, 26.
  • Nardo, M., ve Saisana, M. (2005). Tools for composite indicators building. European Commission.
  • OECD, (2008). OECD framework for the evaluation of SME and entrepreneurship policies and programs. Paris, OECD.
  • Omar, A. M. ve Inaba, K. (2020). Does financial inclusion reduce poverty and income inequality in developing countries? A panel data analysis. Journal of Economic Structures, 9:37, 2-25.
  • Pearson, K. (1901). On lines and planes of closest fit to systems of points in space. London, University College.
  • Pitt, M. M. ve Khandker, S. R. (1998). The impact of group-based credit programs on poor households in Bangladesh: Does the gender of participants matter? Journal of Political Economy, 106(5), 958–996.
  • Robinson, M. (1996). Some key questions on finance and poverty. Journal of International Development 8, (March-April), 153-161.
  • Roodman, D. (2009). How to do xtabond2: An introduction to difference and system GMM in Stata. STATA JOURNAL. 9 (1): 86-136.
  • Roodman, D. ve Morduch, J. (2009). The impact of microcredit on the poor in Bangladesh: Revisiting the evidence. Working paper 174, Washington, DC: Center for Global Development.
  • Rutherford, S. (1996). Learning from the urban informal sector. Paper presented at an international workshop on Poverty and Finance in Bangladesh. IDPAA and Proshika, Dhaka.
  • Sharma, R., Didwania, M., ve Kumar, P. (2011). Need of Financial Inclusion for Poverty Alleviation and GDP Growth. SSRN Electronic Journal. 10.2139/ssrn.2434473.
  • Stiglitz, J. (1998). The Role of the State in Financial Markets. Proceedings of the World Bank Annual Conference on Development Economics. p. 19–52. Washington, D.C., World Bank.
  • United Nations. (2013). The Millennium Development Goals Report 2013. United Nations Publications.
  • Van Rooyen, C., Stewart, R., ve De Wet, T. (2012). The Impact of Microfinance in Sub-Saharan Africa: A Systematic Review of the Evidence. World Development. 40, 2249-2262.
  • World Bank, (2008). Finance for All? Policies and Pitfalls in Expanding Success. A World Bank Policy Research Report. World Bank Group. http://www.myilibrary.com?id=119146.
  • World Bank, (2001). Banking the poor measuring banking access in 54 economies. Washington, DC, World Bank. http://public.eblib.com/choice/publicfullrecord.aspx?p=459845.
Toplam 44 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Makaleler
Yazarlar

Recep Yorulmaz 0000-0001-9769-2100

Yayımlanma Tarihi 1 Haziran 2022
Gönderilme Tarihi 9 Mart 2022
Yayımlandığı Sayı Yıl 2022 Cilt: 23 Sayı: 1

Kaynak Göster

APA Yorulmaz, R. (2022). Finansal Erişim ve Yoksulluk İlişkisi: Dinamik Panel Veri Analizi ile OECD Örneği. Eskişehir Osmangazi Üniversitesi Sosyal Bilimler Dergisi, 23(1), 89-106. https://doi.org/10.17494/ogusbd.1085143
AMA Yorulmaz R. Finansal Erişim ve Yoksulluk İlişkisi: Dinamik Panel Veri Analizi ile OECD Örneği. Eskişehir Osmangazi Üniversitesi Sosyal Bilimler Dergisi. Haziran 2022;23(1):89-106. doi:10.17494/ogusbd.1085143
Chicago Yorulmaz, Recep. “Finansal Erişim Ve Yoksulluk İlişkisi: Dinamik Panel Veri Analizi Ile OECD Örneği”. Eskişehir Osmangazi Üniversitesi Sosyal Bilimler Dergisi 23, sy. 1 (Haziran 2022): 89-106. https://doi.org/10.17494/ogusbd.1085143.
EndNote Yorulmaz R (01 Haziran 2022) Finansal Erişim ve Yoksulluk İlişkisi: Dinamik Panel Veri Analizi ile OECD Örneği. Eskişehir Osmangazi Üniversitesi Sosyal Bilimler Dergisi 23 1 89–106.
IEEE R. Yorulmaz, “Finansal Erişim ve Yoksulluk İlişkisi: Dinamik Panel Veri Analizi ile OECD Örneği”, Eskişehir Osmangazi Üniversitesi Sosyal Bilimler Dergisi, c. 23, sy. 1, ss. 89–106, 2022, doi: 10.17494/ogusbd.1085143.
ISNAD Yorulmaz, Recep. “Finansal Erişim Ve Yoksulluk İlişkisi: Dinamik Panel Veri Analizi Ile OECD Örneği”. Eskişehir Osmangazi Üniversitesi Sosyal Bilimler Dergisi 23/1 (Haziran 2022), 89-106. https://doi.org/10.17494/ogusbd.1085143.
JAMA Yorulmaz R. Finansal Erişim ve Yoksulluk İlişkisi: Dinamik Panel Veri Analizi ile OECD Örneği. Eskişehir Osmangazi Üniversitesi Sosyal Bilimler Dergisi. 2022;23:89–106.
MLA Yorulmaz, Recep. “Finansal Erişim Ve Yoksulluk İlişkisi: Dinamik Panel Veri Analizi Ile OECD Örneği”. Eskişehir Osmangazi Üniversitesi Sosyal Bilimler Dergisi, c. 23, sy. 1, 2022, ss. 89-106, doi:10.17494/ogusbd.1085143.
Vancouver Yorulmaz R. Finansal Erişim ve Yoksulluk İlişkisi: Dinamik Panel Veri Analizi ile OECD Örneği. Eskişehir Osmangazi Üniversitesi Sosyal Bilimler Dergisi. 2022;23(1):89-106.