Abstract
ABSTRACTThis study explores the impact of financial inclusion on financial resilience in Bangladesh, using World Bank data on global financial inclusions. It finds that respondents with financial accounts are more resilient than those without accounts. The chances of being financially resilient are around 1.4 times higher for account holders than their counterparts. There was also a significant relationship between gender and financial resilience; males are 1.4 times more resilient than females when other covariates are considered in the regression model.
Highlights
The importance of an inclusive financial system is widely known in development policy and is perceived with priority in many countries
The results derived from the chi-square test and binary logistic model shown in the Table 1b indicate gender, education, financial inclusion, economic status and saving patterns that are significantly associated with financial resilience
The area under the receiving operating curve (ROC) indicates that about 76% individuals can be correctly classified according to their financial inclusion status
Summary
The importance of an inclusive financial system is widely known in development policy and is perceived with priority in many countries. It enables an efficient allocation of productive resources, creates access to appropriate financial services and can help to reduce the growth of informal sources of credit (Sharma, 2010). Financial inclusion is ensuring access to appropriate financial products and services to the people, regardless of their income level. The challenge in each circumstance is to design suitable financial products that meet the needs of the unbanked and make use of an account with ease and appropriateness. Financial Account by Gender Male with FA
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