Financial Inclusion in Turkey: Evidence from Individual Level Data
Ekin Ayşe ÖZŞUCA
Using individual level data from the World Bank Global Findex for 2017, this study analyzes the level
of financial inclusion and explores its main determinants in Turkey. In particular, it explores how individual
characteristics (i.e. gender, age, income, education) are associated with the usage of formal financial services
and impinge on the perceived barriers to account ownership among financially excluded individuals in Turkey.
The results of the study indicate that being man, older, richer and more educated increases the likelihood of
having a formal account and formal saving. Moreover, mobile banking is found to be driven by identical
individual characteristics with that of other traditional formal financial services usage. As regards with the main
obstacles for not having a formal account, each one of the individual attributes seems to be significant in
explaining different voluntary and involuntary self-reported barriers behind financial exclusion. The findings
are of remarkable importance for designing policies to promote financial inclusion in Turkey
Financial inclusion, Financial institutions, Financial services, Household finance, Turkey
Referans 1Allen, Franklin, Asli Demirguc-Kunt, Leora Klapper, Maria Soledad Martinez Peria (2016), “TheFoundations of Financial Inclusion: Understanding Ownership and Use of FormalAccounts”, Journal of Financial Intermediation, 27: 1–30.