Financial inclusion and food insecurity: Examining linkages and potential pathways

Isaac Koomson *, Simplice Asongu, Alex O Acheampong

*Corresponding author for this work

Research output: Contribution to journalArticleResearchpeer-review

10 Citations (Scopus)
181 Downloads (Pure)


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.
Original languageEnglish
Pages (from-to)418-444
Number of pages27
JournalJournal of Consumer Affairs
Issue number1
Early online date22 Dec 2022
Publication statusPublished - Jan 2023


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