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Financial inclusion in Ecuador: a post-pandemic approach with spatial econometrics

Abstract:

Introduction: This study analyses financial inclusion in Ecuador in the post-pandemic period, assessing the impact of microeconomic variables on access to financial services. Methodology: A spatial econometric approach was used, analysing data from the Registro Estadístico de Empresas and the Superintendencia de Bancos de Ecuador. Variables such as the number of firms and wages were examined in relation to the use of financial services. Results: The results revealed a significant positive relationship between business activity and access to financial services, indicating that an increase in the number of firms increases the demand for services. Remuneration also has a positive influence, although less uniformly. Discussion: These findings are consistent with previous research in other regions, highlighting the importance of socio-economic and geographic factors in financial inclusion. The need for regionally tailored public policies is key to promoting greater inclusion. Conclusions: The study concludes that policies that foster business growth and wage equity are essential to improve financial inclusion in Ecuador. In addition, further research is recommended on the interaction of financial inclusion with other socio-economic variables, and the impact of public policies on electronic banking and Fintech channels.