The Impact of Financial Inclusion on Mental Health

Ajefu, Joseph, Demir, Ayse and Haghpanahan, Houra (2020) The Impact of Financial Inclusion on Mental Health. SSM - Population Health, 11. p. 100630. ISSN 2352-8273

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Official URL: https://doi.org/10.1016/j.ssmph.2020.100630

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.

Item Type: Article
Uncontrolled Keywords: Financial inclusion, Mental health, Nigeria
Subjects: B900 Others in Subjects allied to Medicine
L100 Economics
L300 Sociology
L700 Human and Social Geography
N300 Finance
Department: Faculties > Business and Law > Newcastle Business School
Depositing User: Elena Carlaw
Date Deposited: 31 Jul 2020 11:19
Last Modified: 15 Sep 2020 10:15
URI: http://nrl.northumbria.ac.uk/id/eprint/43942

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