This article investigates nexuses between innovations in mobile money and financial inclusion. Demand and supply factors that affect the diffusion of mobile services as well as macro-level institutional and economic factors are taken in account. The focus is on 148 countries with data mostly consisting of 2010–2014 averages. The empirical evidence is based on Tobit regressions. The study finds that when the empirical analysis is robust to multicollinearity, two main tendencies are apparent: the significant findings of Lashitew et al. (2019) [1] are confirmed and many new significant estimated coefficients emerge. While this study confirms the findings of the underlying research, it also goes further to improve the harmony in narratives between the predictors and the outcome variables. Accordingly, by accounting for multicollinearity, the earlier findings are now more consistent across the set of predictors (i.e. demand and supply factors) and the attendant financial inclusion outcomes (i.e. mobile money accounts, mobile used to send money and mobile used to receive money).

本文研究了移动货币创新与金融普惠性之间的关系。考虑了影响移动服务扩散的需求和供给因素，以及宏观层面的制度和经济因素。重点关注148个国家/地区，其数据主要包含2010-2014年的平均值。经验证据基于Tobit回归。研究发现，当经验分析对多重共线性具有鲁棒性时，两个主要趋势是显而易见的：Lashitew等人的重要发现。（2019）[1]得到确认，并且出现了许多新的重要估计系数。尽管本研究证实了基础研究的结果，但它还进一步改善了预测变量和结果变量之间的叙述协调性。因此，通过考虑多重共线性，