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Financial inclusion and its heterogeneous effect on household income
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Gallego Acevedo, Juan Miguel
Jaramillo, Fernando
Rodríguez-González, David
Fecha
2020-11-01
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Universidad del Rosario
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Resumen
This paper examines how, in the main Colombian cities, the effect of financial inclusion (FI) on income changes along the distribution of household income considering labor informality. We construct a multidimensional FI indicator based on the World Bank definition and on the data. Using a quantile regression technique, we estimate the effect of FI on income at each quantile for informal and formal households. The findings indicate that FI has a positive impact throughout the income distribution but is greater in low-income and informal households. The results suggest that FI can have potential effects in alleviating poverty and closing the income gap.
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Keywords
Financial inclusion , Household income , Labor informality , Colombian cities , Multidimensional indicator , Quantile regression , Informal households
