Purpose

This study aims to develop and apply a multidimensional measure of financial inclusion (FI) to address measurement issues and determine the level of FI of rural smallholder farmers and the contribution of domain indicators to the level of FI in Nigeria.

Design/methodology/approach

The paper adapts the Alkire–Foster method to develop a multidimensional FI index (MFII). A stratified two-stage sampling procedure is used to select 2,300 rural respondents from the 2016 Consultative Group to Assist the Poor (CGAP) Smallholder Household Survey.

Findings

Results indicate that 78% of rural smallholder farmers in Nigeria are financially excluded. In addition, owning a formal account is significantly different (p < 0.00) from being financially adequate. The financial capability domain contributes the least (29.66%) to the multidimensional FI (MFI) of rural smallholder farmers relative to financial participation and financial well-being. Financial literacy, consumer protection, overcoming barriers such as high transaction costs and financial planning indicators contribute the least to FI relative to formal access.

Practical implications

Results of the study lead to policy recommendations for increasing the FI of rural smallholder farmers in Nigeria, which may be applicable to other countries.

Social implications

Achieving sustainable FI requires that interventions increase the FI of rural smallholder farmers by strengthening financial capability, participation and well-being and not only focus on formal account owners.

Originality/value

The study provides a new methodological and empirical contribution to the FI literature on rural smallholder farmers.

中文翻译：

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重新审视尼日利亚农村小农金融包容性的衡量标准

目的

本研究旨在开发和应用金融包容性 (FI) 的多维衡量标准，以解决衡量问题并确定农村小农的金融服务水平以及领域指标对尼日利亚金融服务水平的贡献。

设计/方法/方法

本文采用 Alkire-Foster 方法来开发多维 FI 指数 (MFII)。使用分层的两阶段抽样程序从 2016 年扶贫咨询小组 (CGAP) 小农住户调查中选择了 2,300 名农村受访者。

发现

结果表明，尼日利亚 78% 的农村小农在经济上被排除在外。此外，拥有正式账户 与财务充足有显着差异（p < 0.00）。相对于财务参与和财务福祉，财务能力域对农村小农多维金融机构 (MFI) 的贡献最小（29.66%）。金融知识、消费者保护、克服诸如高交易成本和财务规划指标等障碍对金融服务的贡献相对于正规渠道而言最小。

实际影响

研究结果为提高尼日利亚农村小农的 FI 提出了政策建议，这些建议可能适用于其他国家。

社会影响

实现可持续的 FI 需要干预措施通过加强财务能力、参与度和福祉来增加农村小农的 FI，而不仅仅是关注正式账户所有者。

原创性/价值

该研究为有关农村小农户的 FI 文献提供了新的方法论和实证贡献。