nep-fle New Economics Papers
on Financial Literacy and Education
Issue of 2025–02–24
two papers chosen by
Viviana Di Giovinazzo, Università degli Studi di Milano-Bicocca
  1. Perceived Social Acceptance and Migrants’ Financial Inclusion By Barboni, Giorgia; de Roux, Nicolás; Perez-Cardona, Santiago
  2. Open Banking in Morocco: Bank Al-Maghrib's Regulatory Role and Its Impact on Financial Inclusion - An Empirical Approach By Rachid Maghniwi; Mustapha Oukassi
  1. By: Barboni, Giorgia (Warwick Business School, Warwick University); de Roux, Nicolás (Universidad de Los Andes, Colombia); Perez-Cardona, Santiago (University of Chicago)
    Abstract: We conducted a telephonic survey experiment with 2, 115 Venezuelan migrants to examine how their perceptions of Colombian’s social acceptance influence their engagement with the financial system. We find that 66% of the subjects we interviewed underestimate the extent to which natives are open towards migrants. We then show that providing accurate information reduces belief errors by 23 percentage points. This correction increases migrants’ willingness to interact with the financial system. In particular, individuals who initially underestimated Colombian’s acceptance of migrants are 15% more likely to visit a bank and request financial information in the next two months relative to the control group. These individuals also show a 12% increase in the willingness to open a digital wallet and an 18% increase in the willingness to open a savings account. These effects are concentrated among individuals who have not experienced episodes of discrimination in Colombia. We find no effects on the willingness to apply for a loan or an insurance product, consistent with the idea that supply barriers play a significant role for the financial inclusion of vulnerable populations. Using an instrumental variable strategy, we show that the increased willingness to engage with the financial system is driven by belief updating. In a short follow-up survey six months later, we find that belief corrections persist over time, and while we are underpowered to detect significant behavioral effects, the patterns remain consistent with the baseline results. Our findings highlight that misperceptions about native’s social acceptance of migrants can drive self-exclusion from the financial system.
    Keywords: Financial Inclusion, Migration, Beliefs, Social Acceptance JEL Classification: G51, D91, F22, D83
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:cge:wacage:745
  2. By: Rachid Maghniwi (UM5 - Université mohamed 5, Rabat); Mustapha Oukassi
    Abstract: This study examines the impact of Open Banking on the Moroccan banking system by analyzing Bank Al-Maghrib's central role in regulating and promoting this innovation. Our research employs a mixed methodology combining quantitative analysis of data collected from 24 Moroccan financial institutions (8 commercial banks, 12 Fintechs, 4 microfinance institutions) and a qualitative approach based on in-depth interviews with key industry stakeholders. Results reveal that the regulatory framework significantly influences Open Banking technology adoption (β = 0.684, p < 0.001), with a positive impact on financial inclusion (β = 0.573, p < 0.001). The study also demonstrates a significant mediating effect of technological adoption (indirect effect = 0.392, p < 0.001) and a moderating effect of institutional characteristics in this relationship. These findings contribute to existing literature by proposing an analytical model adapted to emerging markets and identifying key success factors for Open Banking implementation in the Moroccan context
    Abstract: Cette recherche examine l'impact de l'Open Banking sur le système bancaire marocain en analysant le rôle central de Bank Al-Maghrib dans la régulation et la promotion de cette innovation. Notre étude s'appuie sur une méthodologie mixte combinant une analyse quantitative de données collectées auprès de 24 institutions financières marocaines (8 banques commerciales, 12 Fintechs, 4 institutions de microfinance) et une approche qualitative basée sur des entretiens approfondis avec des acteurs clés du secteur. Les résultats révèlent que le cadre réglementaire influence significativement l'adoption des technologies Open Banking (β = 0.684, p < 0.001), avec un impact positif sur l'inclusion financière (β = 0.573, p < 0.001). L'étude démontre également un effet médiateur significatif de l'adoption technologique (effet indirect = 0.392, p < 0.001) et un effet modérateur des caractéristiques institutionnelles dans cette relation. Ces résultats contribuent à la littérature existante en proposant un modèle d'analyse adapté aux marchés émergents et en identifiant les facteurs clés de succès de l'implémentation de l'Open Banking dans le contexte marocain.
    Keywords: Banking Regulation, Financial Innovation, Open Banking, Bank Al-Maghrib, Financial Inclusion, Régulation bancaire, Inclusion financière, Innovation financière, Fintech
    Date: 2025–01–15
    URL: https://d.repec.org/n?u=RePEc:hal:journl:hal-04894412
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