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The number of people providing informal care has increased considerably in the last years while, at the same time, about one in four Australians have financial stress problems. This study uses rich longitudinal data from the Household, Income and Labour Dynamics in Australia (HILDA) survey to estimate the effect of informal care on financial stress. To establish causality, we exploit a fixed effect‐instrumental variable approach to address omitted variable bias and reverse causality problems. Our findings show that informal caregiving increases financial stress between 9.9 and 14.5 percentage points. This finding is robust across a battery of quasi‐experimental methods. The effect of informal caregiving on financial stress is more pronounced among males, rural residents and those living in low socioeconomic areas. Our analyses further show that financial fragility and social isolation are important channels through which informal caregiving affects financial stress. [ABSTRACT FROM AUTHOR]

Policy emphasis on financial inclusion and deepening has shifted away from measures capturing formal financial services only and towards the development of more inclusive financial markets which account for both formal and informal services. This study examines the effect of financial inclusion and vulnerability coping strategies on multidimensional poverty, where the conceptualisation of financial inclusion is based on four perspectives—(i) one that focuses on only the formal financial sector, (ii) another that concentrates on only the informal financial sector, (iii) one that considers only the mobile money sector and (iv) finally, one that combines all financial markets (i.e., formal and informal including mobile money). Findings show that the conceptualisation of financial inclusion does not only matter in identifying the financially included but also has an implication on how financial inclusion influences multidimensional poverty. Financial inclusion measures that use only formal financial products and services understate their potential effects on multidimensional poverty, thus, justifying the need for a financial inclusion measure that considers both formal and informal sectors. Incorporating informal financial products and services in the measure reduces multidimensional poverty more for female‐headed households and those in rural settings. Households' adoption of vulnerability coping strategies has the potential to reduce the likelihood of being multidimensionally poor. [ABSTRACT FROM AUTHOR]

In developing countries with less advanced financial systems, the accumulation of durable assets remains key to enhancing household welfare. Despite this, studies that explore the link between asset accumulation and health outcomes have largely focused on financial assets. We contribute to the literature by examining the effect of durable asset accumulation on healthcare utilisation and spending using data from a comprehensive and nationally representative survey data in Ghana. Our preferred endogeneity-corrected estimates indicate that a standard deviation increase in asset accumulation is associated with 1.741 and 0.598 standard deviations improvement in healthcare utilisation and spending, respectively. These findings are robust to alternative approaches to addressing endogeneity and different ways of conceptualising asset accumulation. Heterogeneities in findings for gender, location, and for decomposed health expenditures are also explored. We identify education and entrepreneurship as important channels through which asset accumulation influences healthcare utilisation and spending, respectively, and recognise the need for flexible policies that enhance households' accumulation of durable assets, especially in developing countries. [ABSTRACT FROM AUTHOR]

This study uses comprehensive household data from Ghana to examine the link between financial inclusion and children's learning outcomes and late school enrolment. After resolving endogeneity, we find that a standard deviation increase in financial inclusion is associated with 0.7882 to 0.9504 standard deviations increase in children's learning outcomes. It also reduces late school enrolment by 0.9493 standard deviation. Financial inclusion enhances learning and schooling outcomes more for girls and urban children. These findings are robust to different indicators of learning outcomes and alternative approaches to addressing endogeneity. Parents' ability to spend on extra classes and on books and other school-related supplies serve as possible channels through which financial inclusion affects children's educational outcomes. [ABSTRACT FROM AUTHOR]

Considering the worsening levels of food insecurity globally, studies exploring the link between financial inclusion and food insecurity have become imperative. This paper contributes to the literature by examining the effect of financial inclusion on food insecurity using a multidimensional index of financial inclusion and a food insecurity construct obtained from the Food Insecurity Experience Scale. Based on data extracted from the seventh round of the Ghana Living Standards Survey, our preferred endogeneity‐corrected results indicate that improvements in financial inclusion is associated with a reduction in food insecurity. This finding is consistent across different conceptualisations of food insecurity, alternative weighting schemes and cut‐offs for the financial inclusion index and different quasi‐experimental methods. Financial inclusion is mainly effective in reducing food insecurity in male‐headed and rural‐located households. Our findings reveal that entrepreneurship is an important pathway through which financial inclusion influences food insecurity. [ABSTRACT FROM AUTHOR]