article · International Journal of Social Economics
An empirical investigation across 80 developing nations between 2000 and 2020 examines how banking sector concentration affects female education. Banking concentration was evaluated using the proportion of total assets held by the three largest and the five largest banks in each economy. Educational outcomes were assessed across four dimensions: female enrolment rates in primary and secondary schools, alongside government spending dedicated to females at both primary and secondary educational levels. The results demonstrate that bank concentration, when measured by the assets of the top three institutions, reduces both gender inclusive education and public spending on female education. Furthermore, market concentration among the top five banks also lowers gender inclusive education. The evidence links highly concentrated banking sectors directly to reduced educational opportunities and lower state investment in female schooling.
Educational access for girls is essential for equitable social and economic progress. When financial systems are dominated by only a few major banks, this concentration can coincide with lower public spending and reduced schooling participation for young women. Recognising this link helps policymakers and international organisations understand how domestic banking structures may unintentionally hinder investments in gender equality and public human capital development.
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Purpose The primary objective of this study is to assess the incidence of bank concentration on female education in developing countries. Design/methodology/approach The focus of the study is on 80 countries from 2000 to 2020 and the empirical evidence is based on fixed effects and 2SLS regressions. Bank concentration is measured in terms of total assets owned by the three largest banks as well as the total assets owned by the five largest banks. Female education is proxied from four main perspectives, notably: (1) female enrolment in primary education, (2) female enrolment in secondary education, (3) female government spending on primary education and (4) female government spending on secondary education. Findings It is apparent from the findings that bank concentration (in terms of the total assets held by the three largest banks) reduces gender inclusive education and female government spending on education. Moreover, bank concentration (in terms of the total assets held by the five largest banks) also reduces gender inclusive education. Policy implications are discussed. Originality/value The study complements the extant literature by assessing the nexus between bank concentration and inclusive education in developing countries.
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DOI: 10.1108/ijse-08-2025-0784
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