Inclusione Finanziaria: uno studio sulle famiglie italiane

The theme of the research thesis is to investigate the key drivers of financial inclusion and the hypothetical presence of gender gap in Italy by exploiting Bank of Italy Data, namely the Survey on Household Income and Wealth (SHIW). The survey utilizes a sample of 16464 individuals who constitute 7420 households; however, we are exclusively interested in examining the financial attitudes of those parties whose position in the family is the reference person. Hence, 9043 observations are deleted and we concentrate on the remaining individuals. The empirical method implemented is a Probit regression, where the independent variable is one of the financial inclusion’s indicators, while the regressors are gender, education, income, financial literacy, age, region of origin, occupation and the ratio wealth over income. After having provided a global description regarding the aforementioned subject with a particular focus on the Asian, African, American and European continents, the analysis shifts its attention to the Italian country. The main objective is to reveal which are the attitudes of Italian households towards the principle indicators of financial inclusion, namely formal account and formal credit, and potentially measuring a divergence depending on the gender. More specifically, we deepen individuals’ habits with regards to the possession of a bank or postal deposit, as well as the ownership of payment’s instruments other than cash, such as credit, debit and prepaid cards. Furthermore, the emphasis is laid on the importance of financial literacy, i.e. the basic knowledge of financial contents that allow individuals to come to a more informed decision. Specifically, the Bank of Italy develops data on financial education by interviewing and asking Italian households three main questions. The first one concerns compound interest, the second inflation and the third risk diversification. This topic assumes a great importance, since everybody should be aware of the risks involved when making an investment or when borrowing money from a formal financial institution. Concerning the second main proxy for financial inclusion, we analyse the Italian practice to borrow money from banking or other financial institutions. The second part of the thesis research study seeks to investigate whether in the presence of instruments aimed at spreading financial inclusion, such as current accounts and payment cards, the wellbeing of Italian households is enhanced. More specifically, the objective is to understand whether these resources help individuals to show a greater capacity to cope with and overcome economic and financial problems, i.e. whether a person with a current account or a credit card succeeds in making ends meet with minor difficulties. Finally, some policies and road maps are suggested in order to fill the gaps in the Italian scenario regarding financial inclusion.