Analysis of the Determinants of Financial Inclusion in WAEMU Countries An Approach Based on a Fixed Effects Model

Abstract

This research aims to analyze the determinants of financial inclusion in the West African Economic and Monetary Union (WAEMU) over the period 2012–2022. Using a panel-data, fixed-effects econometric approach, it identifies the key factors that promote or hinder access to financial services in this region. The results show that the geographical accessibility of services and the adaptation of products to the needs of the population are essential drivers of financial inclusion. Furthermore, the high cost of credit limits access to financing for vulnerable populations. These observations call for an integrated policy that combines infrastructure deployment, the development of digital solutions, and regulations governing financial costs to promote sustainable and equitable financial inclusion within WAEMU.