Analysis of the effects of participatory finance on financial inclusion: A literature review

Taxation from all its angles

Abstract

This article investigates the role of participative finance in advancing financial inclusion in Morocco, a crucial subject for the country's economic development. Despite the recognized importance of financial inclusion in stimulating growth and reducing inequalities, the specific interactions with participative finance have not been sufficiently explored in the existing literature. The article provides a detailed analysis of the impact of participative finance on financial inclusion, highlighting its beneficial effects, especially for Moroccan SMEs facing challenges in accessing finance. Participative finance, with its ethical and collaborative principles, offers a promising solution for these businesses.

The study goes beyond analyzing the mere interaction between participative finance and financial inclusion, emphasizing how the fundamental principles of participative finance can positively influence the Moroccan economy. It proposes an innovative conceptual model that describes the complex relationship between these two areas. This model, based on well-defined hypotheses, serves as a framework for understanding the underlying mechanisms of this relationship. Thus, the article fills a significant gap in current research and offers a holistic perspective on how participative finance can contribute to economic development and financial inclusion in Morocco.

Keywords: Participative Finance, Financial Inclusion, Determinants, SMEs, Economic Development, Ethical and Collaborative Approaches.

JEL Classification: G2

Paper type: Theoretical Research