DETERMINANTS AND BARRIERS TO FINANCIAL INCLUSION IN MYANMAR: WHAT DETERMINES ACCESS TO FINANCIAL SERVICES AND WHAT HINDERS IT?

This paper examines two aspects of financial inclusion in the context of Myanmar. First, it examines the factors that determine access to formal savings products. Second, it looks at what the barriers to saving are. Using data from a nationally representative survey of 5100 individuals, the paper applies econometric estimation and qualitative data analysis methods to provide answers to these questions. Findings show a low level of saving in Myanmar, and that formal savings increase with income, education, and keeping a budget, among other factors. Policy recommendations include the design of financial literacy programs that are suitable to the Myanmar context, and providing access to financial services.