A Systematic Literature Review Analysis Of The Determinants Of Financial Inclusion: Current State And Future Directions

Abstract

Financial inclusion, the access and use of formal financial services by all segments of society, is a vital factor for economic and social development. However, there is a lack of a comprehensive and updated overview of the research on what influences financial inclusion. This study aims to fill this gap by conducting a systematic literature review of 529 articles on the determinants of financial inclusion published from 2014 to 2023 in the Scopus database. The study follows a rigorous and transparent protocol to select, appraise, and synthesize the articles based on their research design, methods, results, and implications. The study identifies the main factors affecting financial inclusion at the individual, household, community, institutional, and country levels, and discusses how they interact and vary across different contexts and dimensions of financial inclusion. The study also highlights the gaps and challenges in the existing literature and suggests directions for future research. The conclusion of this study is that financial inclusion research is a growing and dynamic field that offers valuable insights for policy makers and practitioners who aim to promote financial inclusion and reduce poverty.