The impact of financial inclusion on mental health

Joseph B Ajefu, Ayse Demir, Houra Haghpanahan

Research output: Contribution to journalArticle

1 Citation (Scopus)
1 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
Number of pages7
JournalSocial Science & Medicine
Volume11
Early online date11 Jul 2020
DOIs
Publication statusPublished - Aug 2020
Externally publishedYes

Bibliographical note

This is an open access article under the CC BY-NC-ND license

Keywords

  • Financial inclusion
  • Mental health
  • Nigeria

ASJC Scopus subject areas

  • Health(social science)
  • Health Policy
  • Public Health, Environmental and Occupational Health

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