Prague Economic Papers 2025, 34(1):98-136 | DOI: 10.18267/j.pep.886

A Multidimensional Financial Inclusion Index for Ethiopia

Mohammed Jatoro Arebo ORCID..., Filmon Hadaro Hando ORCID..., Andualem Goshu Mekonnen ORCID...
Mohammed Jatoro Arebo: Corresponding author, Addis Ababa University (AAU), College of Development Studies (CDS), Department of Regional and Local Development Studies (RLDS), Ethiopia
Filmon Hadaro Hando: Development Governance and Gender Equality, CDS-RLDS, AAU, Ethiopia
Andualem Goshu Mekonnen: CDS-RLDS, AAU, Ethiopia

This study develops a multi-dimensional composite index to measure financial inclusion in Ethiopia, using a two-stage Principal Component Analysis based on ten traditional and five digital indicators from 2015 to 2023. The results reveal a significant increase in Ethiopia’s financial inclusion score, rising from an average of 10.89% in 2015 to 52.18% in 2023. Among the dimensions, traditional availability (0.2625) is the most influential, followed by traditional usage (0.2616), digital accessibility (0.2505), and digital availability (0.2254). Further analysis reveals that the Commercial Bank of Ethiopia alone contributes 48.99% for financial inclusion score, while five medium-sized and eleven small-sized private banks collectively account for 29.26% and 21.75%, respectively. The developed index proves to be a valuable tool for policymaking and evaluation, addressing previous limitations like arbitrary weight selection. It offers a detailed perspective on financial inclusion trends among commercial banks in Ethiopia, consistent with existing studies.

Klíčová slova: Financial inclusion; Multidimensional composite index; Principal component analysis; Ethiopia's commercial banks
JEL classification: G2, G21

Vloženo: 14. srpen 2024; Revidováno: 31. prosinec 2024; Přijato: 12. únor 2025; Zveřejněno: 7. květen 2025  Zobrazit citaci

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Arebo, M.J., Hando, F.H., & Mekonnen, A.G. (2025). A Multidimensional Financial Inclusion Index for Ethiopia. Prague Economic Papers, 34(1), 98-136. doi: 10.18267/j.pep.886
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