The Effect of Microfinance on Inequality and Household Shocks Easing in Nigeria

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Author(s): Ezebuilo R. Ukwueze (University of Nigeria, Nigeria), Henry T. Asogwa (University of Nigeria, Nigeria)and Augustine C. Odoh (Godfrey Okoye University, Nigeria)
Copyright: 2019
Pages: 18
Source title: Handbook of Research on Microfinancial Impacts on Women Empowerment, Poverty, and Inequality
Source Author(s)/Editor(s): Ramesh Chandra Das (Vidyasagar University, India)
DOI: 10.4018/978-1-5225-5240-6.ch016

Keywords: Accounting and Finance / Business & Management / Business Science Reference / Economics & Economic Theory

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Abstract

The chapter aims at finding the microfinance effect on households' shocks easing of Nigerians, and estimating the inequality in the use of MFIs' services under the backdrop that rural farmers do not have access to credits to boost productivity and this affects their income and widens inequality. Based upon the World Bank microdata on financial inclusion survey for 2014 (the Global Fundex survey data set), the study employed the Heckman selection model and concentration index. The results show that households in urban areas have more access to MFIs services than rural households in terms of mobile money accounts, emergency funds, and receiving remittances to smooth their consumption shocks. The results also show wide disparities in deprivation of owning accounts, in loans for apartment, in trend of saving habits, in capacity to participate in MFIs services between the rich and the poor. The study, therefore, recommends that more MFIs can be established in rural areas and more awareness campaign be carried to reach out to the targeted households.

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The Effect of Microfinance on Inequality and Household Shocks Easing in Nigeria

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