Construction of a composite fintech index to measure financial inclusion for developing countries

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Constructs a composite fintech index to measure financial inclusion in developing countries, indicating substantial progress and ongoing challenges.

The composite fintech index reveals significant improvements in financial inclusion metrics across developing countries.
Between 2011 and 2021, the index shows a remarkable increase in fintech-driven financial inclusion scores, with robust analysis methods employed.
Using two-stage principal component analysis, the study develops and validates the index, ensuring its reliability and effectiveness for policymakers' use in addressing financial inclusion gaps and challenges in developing economies—both progress and barriers remain evident in the fintech landscape for these regions. To analyze this index, OLS regression and generalized method of moments estimation techniques support its comprehensive development.

Zheng et al. (2024) studied this question.

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Constructs a composite fintech index to measure financial inclusion in developing countries, indicating substantial progress and ongoing challenges.