Edited by Ahmad Hassan Ahmad, School of Business and Economics, Loughborough University, David T. Llewellyn, Emeritus Professor of Money and Banking, Loughborough University and Victor Murinde, AXA Professor in Global Finance, School of Finance and Management, SOAS University of London, UK

‘A great collection of contributions that analyse the different facets of financial inclusion in the developing world and that will push out the frontier of knowledge.’

• Contents:Preface xviAhmad Hassan Ahmad, David T. Llewellyn and Victor Murinde1 Introduction: financial inclusion – an overview of key issues 1David T. Llewellyn2 Public policy for financial inclusion 13David T. Llewellyn3 Financial sector development and financial inclusion inAfrica: gaps, challenges and policy options 28Njuguna Ndung’u and Alex Oguso4 Mobile money and financial inclusion: an analytical survey 52Ahmad Hassan Ahmad, Christopher J. Green and Fei Jiang5 The impact of financial inclusion on sectoral economic growth 76Ayse Demir, Joseph Ajefu, Kalim Bukhari and Victor Murinde6 Does financial liberalization accentuate financial instability? 82Dirk Bezemer, Silke Bumann and Robert Lensink7 The rise of cross-border pan-African banks in the WAEMU 113Issouf Soumaré, Kouamé Désiré Kanga and Victor Murinde8 Kenya’s interbank market liquidity access: an insight fromnetwork topology 134Ye Bai, Pia Weiss, Victor Murinde and Christopher J. Green9 The coexistence of formal and informal finance: newevidence from the use of trade finance by farmers in Chile 170Alvaro Reyes, Robert Lensink and Niels Hermes10 Mobile money, financial inclusion and poverty: key resultsfrom two new surveys in Ghana 189Fei Jiang, Carlos Sakyi-Nyarko, Ahmad Hassan Ahmadand Christopher J. Green11 Does bank efficiency enhance industry growth indeveloping countries? 226Ali Mirzaei and Tomoe Moore12 Threshold effects of financial access on income inequalityin Africa: empirics and policy implications 243Imhotep Paul Alagidede and Muazu Ibrahim13 Government policy and financial inclusion: analyzing theimpact of the Indian national mission for financial inclusion 267Rachel Hadar and Ronny Manos14 Inclusive finance, financial literacy and livelihoodactivities of households in Ghana 295Mohammed Amidu, Joshua Yindenaba Abor and Haruna Issahaku15 Concluding remarks and implications for future research 321Ahmad Hassan Ahmad, David T. Llewellyn andVictor MurindeIndex

Edited by Ahmad Hassan Ahmad, School of Business and Economics, Loughborough University, David T. Llewellyn, Emeritus Professor of Money and Banking, Loughborough University and Victor Murinde, AXA Professor in Global Finance, School of Finance and Management, SOAS University of London, UK

‘A great collection of contributions that analyse the different facets of financial inclusion in the developing world and that will push out the frontier of knowledge.’

• Contents:Preface xviAhmad Hassan Ahmad, David T. Llewellyn and Victor Murinde1 Introduction: financial inclusion – an overview of key issues 1David T. Llewellyn2 Public policy for financial inclusion 13David T. Llewellyn3 Financial sector development and financial inclusion inAfrica: gaps, challenges and policy options 28Njuguna Ndung’u and Alex Oguso4 Mobile money and financial inclusion: an analytical survey 52Ahmad Hassan Ahmad, Christopher J. Green and Fei Jiang5 The impact of financial inclusion on sectoral economic growth 76Ayse Demir, Joseph Ajefu, Kalim Bukhari and Victor Murinde6 Does financial liberalization accentuate financial instability? 82Dirk Bezemer, Silke Bumann and Robert Lensink7 The rise of cross-border pan-African banks in the WAEMU 113Issouf Soumaré, Kouamé Désiré Kanga and Victor Murinde8 Kenya’s interbank market liquidity access: an insight fromnetwork topology 134Ye Bai, Pia Weiss, Victor Murinde and Christopher J. Green9 The coexistence of formal and informal finance: newevidence from the use of trade finance by farmers in Chile 170Alvaro Reyes, Robert Lensink and Niels Hermes10 Mobile money, financial inclusion and poverty: key resultsfrom two new surveys in Ghana 189Fei Jiang, Carlos Sakyi-Nyarko, Ahmad Hassan Ahmadand Christopher J. Green11 Does bank efficiency enhance industry growth indeveloping countries? 226Ali Mirzaei and Tomoe Moore12 Threshold effects of financial access on income inequalityin Africa: empirics and policy implications 243Imhotep Paul Alagidede and Muazu Ibrahim13 Government policy and financial inclusion: analyzing theimpact of the Indian national mission for financial inclusion 267Rachel Hadar and Ronny Manos14 Inclusive finance, financial literacy and livelihoodactivities of households in Ghana 295Mohammed Amidu, Joshua Yindenaba Abor and Haruna Issahaku15 Concluding remarks and implications for future research 321Ahmad Hassan Ahmad, David T. Llewellyn andVictor MurindeIndex

Edited by Ahmad Hassan Ahmad, School of Business and Economics, Loughborough University, David T. Llewellyn, Emeritus Professor of Money and Banking, Loughborough University and Victor Murinde, AXA Professor in Global Finance, School of Finance and Management, SOAS University of London, UK

‘A great collection of contributions that analyse the different facets of financial inclusion in the developing world and that will push out the frontier of knowledge.’

• Contents:Preface xviAhmad Hassan Ahmad, David T. Llewellyn and Victor Murinde1 Introduction: financial inclusion – an overview of key issues 1David T. Llewellyn2 Public policy for financial inclusion 13David T. Llewellyn3 Financial sector development and financial inclusion inAfrica: gaps, challenges and policy options 28Njuguna Ndung’u and Alex Oguso4 Mobile money and financial inclusion: an analytical survey 52Ahmad Hassan Ahmad, Christopher J. Green and Fei Jiang5 The impact of financial inclusion on sectoral economic growth 76Ayse Demir, Joseph Ajefu, Kalim Bukhari and Victor Murinde6 Does financial liberalization accentuate financial instability? 82Dirk Bezemer, Silke Bumann and Robert Lensink7 The rise of cross-border pan-African banks in the WAEMU 113Issouf Soumaré, Kouamé Désiré Kanga and Victor Murinde8 Kenya’s interbank market liquidity access: an insight fromnetwork topology 134Ye Bai, Pia Weiss, Victor Murinde and Christopher J. Green9 The coexistence of formal and informal finance: newevidence from the use of trade finance by farmers in Chile 170Alvaro Reyes, Robert Lensink and Niels Hermes10 Mobile money, financial inclusion and poverty: key resultsfrom two new surveys in Ghana 189Fei Jiang, Carlos Sakyi-Nyarko, Ahmad Hassan Ahmadand Christopher J. Green11 Does bank efficiency enhance industry growth indeveloping countries? 226Ali Mirzaei and Tomoe Moore12 Threshold effects of financial access on income inequalityin Africa: empirics and policy implications 243Imhotep Paul Alagidede and Muazu Ibrahim13 Government policy and financial inclusion: analyzing theimpact of the Indian national mission for financial inclusion 267Rachel Hadar and Ronny Manos14 Inclusive finance, financial literacy and livelihoodactivities of households in Ghana 295Mohammed Amidu, Joshua Yindenaba Abor and Haruna Issahaku15 Concluding remarks and implications for future research 321Ahmad Hassan Ahmad, David T. Llewellyn andVictor MurindeIndex