Financial inclusion and education: An empirical study of financial inclusion in the face of the pandemic emergency due to Covid‐19 in Latin America and the Caribbean

• Published date: 01 August 2022
• Author: Amirreza Kazemikhasragh,Marianna Vanessa Buoni Pineda
• Date: 01 August 2022
• DOI: http://doi.org/10.1111/rode.12884

Rev Dev Econ. 2022;26:1785–1797. wileyonlinelibrary.com/journal/rode

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1785

© 2022 John Wiley & Sons Ltd

Received: 5 June 2021

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Revised: 26 February 2022

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Accepted: 28 February 2022

DOI: 10.1111/rode.12884

REGULAR ARTICLE

Financial inclusion and education: An

empirical study of financial inclusion in

the face of the pandemic emergency due to

Covid- 19 in Latin America and the Caribbean

AmirrezaKazemikhasragh1

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Marianna VanessaBuoni Pineda2

1Department of Management, University

of Bologna, Bologna, Italy

2Faculty of Economics, University of

Bologna, Bologna, Italy

Correspondence

Amirreza Kazemikhasragh, Department

of Management, University of Bologna,

Via Capo di Lucca, 34, 40126 Bologna,

Italy.

Email: amirkazemi@outlook.com

Abstract

Financial inclusion and education contribute to a coun-

try's development and economic growth. However,

despite the significant efforts being made to increase

access to financial products for women, a high percent-

age still do not have access to and effective use of for-

mal financial services in the countries of Latin America

and the Caribbean. This study analyzes financial inclu-

sion (based on gender equality) in the countries studied

using a pooled- panel ordinary least squares economet-

ric technique. Furthermore, the impact of interactions

between the level of study, use of technology, academic

degree during the Covid- 19 restrictions, number of

credit borrowers, and number of borrowers with the

interaction of the restrictions during the health emer-

gency was evaluated employing the Gini coefficient and

human development index (HDI). This study confirms

that Latin America and the Caribbean countries can in-

crease financial inclusion by changing their social as-

pects based on gender equality to ease using technology

and access to credit. The results of this study are help-

ful for policy- makers in formulating and implementing

policies that lead to action plans that reverse an exclu-

sionary financial system, promote financial education,

and empower women.