How Individualism Influences Female Financial Inclusion through Education: Evidence from Historical Prevalence of Infectious Diseases

Shishir Shakya and Nabamita Dutta

No 24-03, Working Papers from Department of Economics, Appalachian State University

Abstract: We examine a novel hypothesis about the mediation role of education in the relationship between individualism and female nancial inclusion. Grounded in the parasite-stress theory of values, which posits that regional variations in infectious diseases in uence cultural traits such as individualism, we employ causal mediation analysis within the instrumental variables framework. We dissect the total average causal e ect of the individualism-collectivism cultural dimension, as de ned by Hofstede's classi cation index, on female nancial inclusion, distinguishing between direct and indirect impacts via the education channel. We nd that education signi cantly mediates almost half of the overall in uence of individualism on female financial inclusion. Key Words:

Date: 2024
New Economics Papers: this item is included in nep-fle
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