Observational analysis reveals a two-way link between financial inclusion and human development in WAEMU, suggesting institutional quality enhances this relationship.
Key Points
Improved financial inclusion enhances human development indicators, including life expectancy and income.
Panel data analysis from 2010 to 2022 across eight WAEMU countries shows significant results for credit and savings.
Findings suggest that better institutional quality strengthens the positive impact of financial inclusion on development.
Effectively increasing access to credit and savings can improve the livelihood of households and businesses in WAEMU.