Mobile Money and Female Youth Empowerment: Evidence from a Cross-Cultural Panel Study

Empowering the female younger generation is critical for fostering economic growth. Mobile money offers households and businesses convenient, affordable, and innovative ways to conduct financial transactions. However, the impact of this financial technology (FinTech) on the prospects of the young generation remains ambiguous. To explore this issue, we utilize panel data from the International Monetary Fund and the World Bank covering 32 countries from 2015 to 2023. The results highlight a significant positive effect of mobile money on female participation in education and training. This study offers two key policy recommendations aligned with the United Nations Sustainable Development Goals (SDGs) 4 and 5. First, it advocates for enhancing educational and training opportunities to improve the prospects of young females. Second, it emphasizes the vital role of females› participation in economic and political spheres.