Date Published:
Dec 14, 2017
Focus Area(s):
DP 2017-38

This paper contributes to the literature on financial inclusion in the Philippines by examining three key financial services, namely, savings, credit, and insurance, and identifying individual socioeconomic characteristics that are associated with access to these financial services. Financial inclusion is also analyzed in the context of four geographical areas in the Philippines--National Capital Region, balanced Luzon, Visayas, and Mindanao--which provides more insights and a better understanding of financial inclusion. Using data collected from the national baseline survey of financial inclusion, estimation results indicate that sociodemographic characteristics such as age, sex, civil status, education, employment, and income are associated significantly with accessing various financial products and services. Findings also suggest similarities in the socioeconomic profiles of users and nonusers of financial services in the four geographic areas, while differences appear to be related to the presence of banks and other formal financial institutions. These results provide useful inputs to policy and strategies for attaining inclusive finance.


This publication has been cited 7 times

In other Publications
  1. Dayag, Antonio J. and Fernando Trinidad. 2019. Assessment of the correlation between price-earnings ratio and stock market returns of universal banks in the Philippines. International Journal of Research in Business and Social Science (2147-4478), 8, no. 5, 172-181. Center for the Strategic Studies in Business and Finance.
  2. Sam, Vichet. 2019. Formal financial inclusion in Cambodia: What are the key barriers and determinants?. MPRA Paper 94000. University Library of Munich, Germany.
In the Media
  1. Cuisia-Lindayag, Ann. 2018. What do Digital Wallets have to do with Financial Inclusion?. Manila Bulletin.
  2. Malaya Business Insight. 2018. Access to funds key to financial inclusion. Malaya Business Insight.
  3. Ordinario, Cai. 2017. Few Filipinos bother with risk-protection services. BusinessMirror.
  4. Talavera, Catherine. 2018. Rural areas need better access to financial services. Philippine Star.
  5. The Daily Tribune. 2018. Key to RP financial inclusion identified. The Daily Tribune.

Main Menu

Secondary Menu