Constructing a financial inclusion index for Mexican municipalities
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https://doi.org/10.1016/j.frl.2022.103368 |
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Title
Constructing a financial inclusion index for Mexican municipalitiesAuthor (s)
Date
2023Publisher
ElsevierISSN
1544-6123; 1544-6131Bibliographic citation
DIRCIO-PALACIOS-MACEDO, María del Carmen, et al. Constructing a financial inclusion index for Mexican municipalities. Finance Research Letters, 2023, 52: 103368.Type
info:eu-repo/semantics/articleVersion
info:eu-repo/semantics/publishedVersionSubject
Abstract
Access to financial services varies sharply around the world among countries but also within
regions and municipalities in the same country. To identify this important variation multivariate
indices have been ... [+]
Access to financial services varies sharply around the world among countries but also within
regions and municipalities in the same country. To identify this important variation multivariate
indices have been considered previously but they should have an adequate formulation that
results in relevant information for policy proposals. Many Financial Inclusion (FI) Indices have
been constructed using methodologies that do not allow identifying subdimensions within the
broad dimensions of access and usage in which the entity (country or municipality) could be
lagging. In this respect our contribution is to construct a novel FI index that encompass different
subdimensions of access and usage which are determined previously by exploratory factor
analysis. The aggregation of our index is as a weighted geometric mean with the weights derived
from DEA Benefit of the Doubt (BoD). In other formulations the weights imposed in multivariate
indices have been a source of criticism when determined by the researcher discretionally or
derived by factor or principal component analysis which have some shortcomings. We construct
a Geometric BoD index for Mexican municipalities in 2020 considering that our FI index
formulation is also appropriate to use for any other country or region. Our results show that
the importance of each dimension is different for each municipality in Mexico which in turn
indicates that each of them can suffer of low levels of FI for a variety of reasons. [-]
Is part of
Finance Research Letters, 2023, 52: 103368Funder Name
Agencia Estatal de Investigación (AEI) | Ministerio de Ciencia e Innovación (Spain)
Funder ID
PID2020-115450GB-I00 | MCIN/AEI/10.13039/501100011033
Rights
© 2022 Elsevier Inc. All rights reserved.
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