ABSTRACT

While financial inclusion is highly touted for enhancing welfare, very little evidence exists with regard to its effect on population health, especially in Africa (where population health is relatively poor). This study therefore provides an empirical evidence of the effect of financial inclusion on population health in 33 African countries from 2004 to 2018. Life expectancy and death rate are used as proxies for population health while four indicators of financial inclusion (number of Automated Teller Machines (ATMs), number of commercial bank branches, number of borrowers, and outstanding deposits) are used. Moreover, we use the Principal Component Analysis (PCA) to generate a combined index of financial inclusion using these four indicators. For multivariate estimation purposes, the dynamic panel system Generalised Method of Moments (GMM) regression is employed. The findings of the study show that, financial inclusion enhances population health. Thus, financial inclusion should be deepened in order to improve population health in Africa.

摘要

虽然金融普惠被高度吹捧为提高福利，但很少有证据表明它对人口健康的影响，尤其是在非洲（人口健康状况相对较差）。因此，本研究提供了 2004 年至 2018 年金融普惠对 33 个非洲国家人口健康影响的实证证据。预期寿命和死亡率被用作人口健康的替代指标，而金融普惠的四个指标（自动取款机的数量） ATM）、商业银行分行数量、借款人数量和未偿还存款）。此外，我们使用主成分分析 (PCA) 生成使用这四个指标的金融包容性综合指数。出于多元估计的目的，采用动态面板系统广义矩法（GMM）回归。研究结果表明，普惠金融可以增强人口健康。因此，应深化金融包容性，以改善非洲人口的健康状况。