Journal of Scientific Papers


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ISSN 2071-789X

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Strike Plagiarism

  • General Founder and Publisher:

    Centre of Sociological Research


  • Publishing Partners:

    University of Szczecin (Poland)

    Széchenyi István University, (Hungary)

    Mykolas Romeris University (Lithuania)

    Alexander Dubcek University of Trencín (Slovak Republic)

  • Membership:

    American Sociological Association

    European Sociological Association

    World Economics Association (WEA)




Financial inclusion in Indonesia: Does education matter?

Vol. 16, No 2, 2023

Pratiwi Ira Eka


International Development and Cooperation, Graduate School of Pan-Pacific, Kyung Hee University, South Korea


ORCID 0000-0002-3583-4094


Financial inclusion in Indonesia: Does education matter?





Abstract. This study attempts to examine education as a critical proxy for financial inclusion in Indonesia using the Global Findex 2017 database from the World Bank survey. The results showed low financial inclusion in Indonesia, indicated by the low score of the financial inclusion index. Further analysis also suggests that education attainment significantly affects financial inclusion, whose indicators include the financial inclusion index (FII), account ownership, mobile or internet banking, and borrowing from financial institutions in the past 12 months. These four indicators show that financial inclusion increases with education. The findings confirm that highly educated people are considered financially included, and the great difference in educational level may create a significant gap in financial inclusion. Therefore, more people should attain higher education to increase financial inclusion and contribute to national development.


Received: May, 2022

1st Revision: February, 2023

Accepted: June, 2023


DOI: 10.14254/2071-789X.2023/16-2/16

JEL ClassificationG20, G50, I29

Keywords: financial inclusion, education, Indonesia