دراسة محددات الاستبعاد المالي في منطقة المغرب العربي باستخدام الجيل الثاني للتكامل المتزامن و منهجية Pmg-Panel Ardl خلال الفترة 2004-2019

Abstract EN

The aim of this study is to determine the impact of factors that explaining financial exclusion which include supply and demand of financial factors in Arab Maghreb region (Algeria, Tunisia, Morocco) using second generation panel co-integration and PMG-ARDL during the period 2004-2019.

empirical results of second generation westerlund (2007) test revealed a long-run relationship between variables as well as cross sections.

furthermore, the same result was reaffirmed using pooled mean-group in panel ARDL model, which indicated a strong negative relationship between income, digital infrastructure, and education on financial exclusion.

in contrast, we find a positive association between banking spread and financial exclusion due to expansion parallel sector and hence of financial culture.

our findings indicate that financial exclusion in the region back to both supply and demand factors.