Using multiple correspondence analysis for finance: A tool for assessing financial inclusion

Mardi Dungey, Firmin Doko Tchatoka, Maria Yanotti

    Research output: Contribution to journalArticle

    Abstract

    This paper introduces multiple correspondence analysis (MCA) to the literature on financial product choice. MCA is a useful way of assessing the typology of actual or potential consumers, which can then be used to assess the extent to which existing products cover consumer needs. Given the importance of the financial inclusion agenda, this provides a useful means of detecting areas of financial under-servicing. An illustration using bank mortgage data shows how some groups are well-serviced, but others suffer from mismatch between the characteristics of the available and desirable products.
    Original languageEnglish
    Pages (from-to)212-222
    JournalInternational Review of Financial Analysis
    Volume59
    DOIs
    Publication statusPublished - 2018

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