The Impact of Financial Inclusion on Mental Health

Joseph Ajefu*, Ayse Demir, Hour Haghpanahan

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

5 Citations (Scopus)
14 Downloads (Pure)

Abstract

This paper examines the impact of financial inclusion on the mental health of heads of household in Nigeria. The study employed data from the 2015/2016 Nigerian General Household Survey (GHS), matched with georeferenced data concerning financial services obtained from the Insight2Impact (i2i) GIS interface. The results indicate that financial inclusion has a strong positive impact on mental health. The study used a robust instrumental variable method, in which a household’s distance from the nearest financial institution was used as the instrument for financial inclusion. In addition, it identified the potential channels through which financial inclusion can influence mental health, including: (1) food expenditure; (2) remittances; and (3) risk-coping mechanisms. The findings of this study reinforce growing evidence for the benefits of financial inclusion for alleviating depression symptoms.
Original languageEnglish
Article number100630
Pages (from-to)1-7
Number of pages7
JournalSSM - Population Health
Volume11
Early online date11 Jul 2020
DOIs
Publication statusPublished - 1 Aug 2020

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