Financial Inclusion as a Panacea for Income Inequality in Nigeria
Samuel Orekoya, Oluwatoyin Akintunde

References:
[1] Aduda, Josiah, and Elizabeth Kalunda. 2012. "Financial inclusion and financial sector stability with reference to Kenya: A review of literature." Journal of Applied Finance and Banking 2, no. 6 (November): 95-120
[2] Adurayemi, Adu Cecilia. 2016. "Cashless policy and its effects on the Nigerian economy." European Journal of Business, Economics and Accountancy 4, no. 2: 81-88.
[3] Babajide, Abiola A., Folasade B. Adegboye, and Alexander E. Omankhanlen. 2015. "Financial inclusion and economic growth in Nigeria." International Journal of economics and financial issues 5, no. 3 (March): 629-637.
[4] Barajas, Adolfo, Ratna Sahay, Martin Cihák, and Papa N'Diaye. 2015. "Rethinking financial deepening: Stability and growth in emerging markets." Revista de Economía Institucional 17, no. 33 (July): 73-107.
[5] Beck, Thorsten, Ross Levine, and Alexey Levkov. 2017. "Big bad banks? The impact of US branch deregulation on income distribution." Washington D.C: The World Bank
[6] Becker, Gary S., and Nigel Tomes. 1979. "An equilibrium theory of the distribution of income and intergenerational mobility." Journal of political Economy 87, no. 6 (December): 1153-1189.
[7] Brune, Lasse, Xavier Giné, Jessica Goldberg, and Dean Yang. 2011. "Commitments to save: A field experiment in rural Malawi." World Bank Policy Research Working Paper 5748.
[8] Clarke, George RG, Lixin Colin Xu, and Heng-Fu Zou. 2006. "Finance and income inequality: what do the data tell us?." Southern economic journal 72, no. 3 (January): 578-596.
[9] Dabla-Norris, Ms Era, Yan Ji, Robert Townsend, and Ms Filiz Unsal. 2015. Identifying constraints to financial inclusion and their impact on GDP and inequality: A structural framework for policy. International Monetary Fund.
[10] De Haan, Jakob, and Jan-Egbert Sturm. 2017. "Finance and income inequality: A review and new evidence." European Journal of Political Economy 50 (December): 171-195.
[11] Delis, Manthos D., Iftekhar Hasan, and Pantelis Kazakis. 2014. "Bank regulations and income inequality: Empirical evidence." Review of Finance 18, no. 5 (August): 1811-1846.
[12] Demirgüç-Kunt, Asli, and Leora F. Klapper. 2012. "Measuring financial inclusion: The global findex database." World bank policy research working paper 6025.
[13] Honohan, Patrick. "Cross-country variation in household access to financial services. 2008." Journal of Banking & Finance 32, no. 11 (November): 2493-2500.
[14] Jauch, Sebastian, and Sebastian Watzka. 2012. "Financial development and income inequality: a panel data approach." München, Germany: Ludwig-Maximilians-Universita¨t Munich
[15] Jaumotte, Florence, Subir Lall, and Chris Papageorgiou. 2013 "Rising income inequality: technology, or trade and financial globalization?." IMF economic review 61, no. 2 (June): 271-309.
[16] John, Nwani Jemima, Nwaimo Chilaka Emmanuel, Kanu Success Ikechi, and Chinonso Karen Eke. 2020. "Cashless policy and the Nigerian payment system." International Journal of Innovation and Economic Development 5, no. 6: 7-28.
[17] Kama, U., and M. Adigun. 2013. "Financial inclusion in Nigeria: Issues and challenges." Central Bank of Nigeria occasional paper 45 (August): 31-33.
[18] Kipoh, Esther Mpele. "Effect of financial inclusion on income inequality in sub-Saharan Africa. 2020. " South Asian Journal of Social Studies and Economics 5, no. 4 (February): 1-15.
[19] Kling, Gerhard, Vanesa Pesqué-Cela, Lihui Tian, and Deming Luo. 2022 "A theory of financial inclusion and income inequality." The European Journal of Finance 28, no. 1 (January): 137-157.
[20] Kuznets, Simon. 1995. "Economic growth and income inequality " The American Economic Review 45, no. 1 (March): 1-28.
[21] Le, Q., H. Ho, and N. Mai. 2019. "The impact of financial inclusion on income inequality in transition economies." Management Science Letters 9, no. 5: 661-672.
[22] Maldonado, Joana Elisa. 2017. "Financial Systems and Income Inequality”. Bruges European Economic Research Papers 36/2017.
[23] Menyelim, Chima M., Abiola A. Babajide, Alexander E. Omankhanlen, and Benjamin I. Ehikioya. 2021 "Financial inclusion, income inequality and sustainable economic growth in sub-Saharan African countries." Sustainability 13, no. 4 (February): 1780.
[24] Mookerjee, Rajen, and Paul Kalipioni. 2010. "Availability of financial services and income inequality: The evidence from many countries." Emerging Markets Review 11, no. 4 (December): 404-408.
[25] Zhang, Ruixin, and Sami Ben Naceur. 2016. Financial development, inequality and poverty: Some international evidence. Washington DC: The International Monetary Fund.
[26] Neaime, Simon, and Isabelle Gaysset . 2016. Financial exclusion and stability in MENA: evidence from poverty and inequality. Beirut: American University of Beirut, Institute of Financial Economics, Lecture and Working paper Series No. 4.
[27] Neaime, Simon, and Isabelle Gaysset. 2018. "Financial inclusion and stability in MENA: Evidence from poverty and inequality." Finance Research Letters 24 (March): 230-237.
[28] Ogwumike, Fidelis O. 2002. "An appraisal of poverty reduction strategies in Nigeria." CBN Economic and Financial Review 39, no. 4: 1-17.
[29] Okoye, Lawrence Uchenna, Kehinde A. Adetiloye, Olayinka Erin, and Nwanneka J. Modebe. 2017. "Financial inclusion as a strategy for enhanced economic growth and development." Journal of Internet Banking and Commerce 22, no. S8 (May): 1-14.
[30] Olohunlana, A. O., and R. O. S. Dauda. 2019. "Implications of financial development on poverty and inequality: Evidence from Nigeria." Romanian Economic Journal 71 (March).
[31] Omar, Md Abdullah, and Kazuo Inaba.2020. "Does financial inclusion reduce poverty and income inequality in developing countries? A panel data analysis." Journal of economic structures 9, no. 1 (April): 1-25
[32] Omojolaibi, Joseph A. 2017. "Financial inclusion, governance and economic progress in Nigeria: what happens to the welfare of the poor?.2017." Oman Chapter of Arabian Journal of Business and Management Review 34, no. 93 (February): 1-14.
[33] Orekoya, Samuel. 2020. "Financial Inclusion as a Panacea for Inclusive Growth and Sustainable Development in Nigeria." African Journal of Sustainable Development 10, no. 1: 21-39.
[34] OXFAM International. 2021. Nigeria: Extreme inequality in numbers. Accessed May 2021
https://www.oxfam.org/en/nigeria-etreme-inequality-numbers
[35] Park, Cyn-Young, and Rogelio Mercado Jr. 2018. "Financial inclusion, poverty, and income inequality." The Singapore Economic Review 63, no. 01 (March): 185-206.
[36] Park, Cyn-Young, and Rogelio Mercado. 2015 "Financial inclusion, poverty, and income inequality in developing Asia." Asian Development Bank Economics Working Paper Series 426.
[37] Pesaran, M. Hashem, and Yongcheol Shin.1999. An autoregressive distributed lag modelling approach to cointegration analysis. Vol. 9514. Cambridge, UK: Department of Applied Economics, University of Cambridge.
[38] Pesaran, M. Hashem, Yongcheol Shin, and Richard J. Smith. 2001 "Bounds testing approaches to the analysis of level relationships." Journal of applied econometrics 16, no. 3 (May): 289-326.
[39] Roine, Jesper, Jonas Vlachos, and Daniel Waldenström. 2009. "The long-run determinants of inequality: What can we learn from top income data?." Journal of public economics 93, no. 7-8 (August): 974-988.
[40] Sehrawat, Madhu, and A. K. Giri. 2016. "Panel data analysis of financial development, economic growth and rural-urban income inequality: Evidence from SAARC countries." International Journal of Social Economics 43, no. 10 (october): 998-1015.
[41] Seshamani, Venkatesh. 2018. "Financial Inclusion and Income Inequality: A Case Study of Selected Countries in Sub-Saharan Africa." Archives of Business Research 6, no. 4 (April).
[42] Seven, Unal, and Yener Coskun. 2016. "Does financial development reduce income inequality and poverty? Evidence from emerging countries." Emerging Markets Review 26 (March): 34-63.
[43] Smith, P. 2015. Income distribution: The Kuznets hypothesis. Economic Review 32, no 3.
[44] The World Bank. 2021. Financial Access. Accesses May 2021.
https;//www.worldbank.org/en/publication/gdfr/gdfr-2016/background/financial access
[45] The World Bank. 2021. Financial Depth. Accessed May 2021.
https://www.worldbank.org/en/publication/gfdr/gfdr-2016/background/financial-depth
[46] The World Bank. 2021. Financial Stability. Accessed May 2021.
https://www.worldbank.org.en/publication/gfdr/gfdr-2016/background/financial-stability
[47] Weychert, Ewa. 2020. "Financial development and income inequality." Central European Economic Journal 7, no. 54: 84-100.
[48] World Bank. 2018. New report analyzes China’s Impressive trajectory toward universal financial inclusion. Accessed May 2021.
https://www.worldbank.org/en/news/feature/2018/02/09/new-report-analyzes-china-impressive-trajectory-toward-universal-financial-inclusion.
[49] Zahonogo, Pam. 2017. "Financial development and poverty in developing countries: evidence from Sub-Saharan Africa." International Journal of Economics and Finance 9, no. 1: 211-220.
[50] Zhang, Ruixin, and Sami Ben Naceur. 2019. "Financial development, inequality, and poverty: Some international evidence." International Review of Economics & Finance 61 (May): 1-16.
[51] Zia, Ikrima Zaleda, and P. Eko Prasetyo. 2018. "Analysis of financial inclusion toward poverty and income inequality." Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan 19, no. 1 (July): 114-125.
|