LES DETERMINANTS DE L’INCLUSION FINANCIERE AU TOGO

Abstract

This study analyzes the determinants of financial inclusion in Togo. Departing from the traditional literature which considers financial inclusion as a static phenomenon, this study models it as a dynamic four-step process and identifies its determinants on the basis of an ordered and sequential logit model applied to the data of Finscop survey with a sample of 5197 individuals. The results obtained from the ordered logit model indicate that financial inclusion in Togo is mainly determined by individual characteristics such as sex, education, age, income, area of residence, professional situation, marital status, household size and degree of trust in financial institutions. However, these characteristics differ from step to step using sequential logit, similarly depending on gender, and geographic area. This study is the first attempt to understand the determinants of financial inclusion in Togo. It also has the advantage of being in the class of the first empirical studies that model financial inclusion, as a dynamic process. Finally, this work paves the way for strategies that make financial inclusion a tool that can help increase the rate of access to financial services in Togo.