Financial Inclusion, Health-Seeking Behavior, and Health Outcomes Among Older Adults in Ghana

Razak M. GYASI, Anokye M. ADAM, David R. PHILLIPS

Research output: Journal PublicationsJournal Article (refereed)peer-review

42 Citations (Scopus)


Purpose:This study examines the associations between financial inclusion, health-seeking behavior, and health-related outcomes in older persons in Ghana.Method:Employing data from a 2016/2017 Aging, Health, Psychological Well-Being and Health-Seeking Behavior Study (N = 1,200; mean age = 66.2 years [standard deviation = 11.9], we estimated regression models of self-rated health (SRH), psychological distress (PD), and health-care use (HCU) on a variable representing compositional characteristics of financial inclusion.
Results:Multivariate logistic and generalized Poisson models showed that financial inclusion is positively associated with SRH (β = .104, standard error [SE] = .033, p < .001) but inversely related to both PD (β = .038, SE = .032, p < .005) and HCU (β = −.006, SE = .009, p < .05) independent of other factors. However, after adjusting for socioeconomic and health-related factors, the associations were tempered and the effect of SRH decreased by 0.094 and PD increased by 0.065 points but HCU became statistically insignificant (β = −.020, SE = .0114, p > .05)Conclusions:Financial services inclusion profoundly appears to buffer against and retard health-related challenges in later life. Social and health policies targeted at improving the health outcomes of older people should include and build on the growing recognition of the importance of inclusive financial services and strategies.
Original languageEnglish
Article number016402751984660
Pages (from-to)794-820
Number of pages27
JournalResearch on Aging
Issue number8
Early online date2 May 2019
Publication statusPublished - 1 Sept 2019

Bibliographical note

The author(s) disclosed receipt of the following financial support for the research, authorship, and/or publication of this article: This work was supported by Lingnan University, Hong Kong, through its Studentship Package for Research Postgraduates (RPG-1129310). The funders, however, played no role in designing the study, collecting and analyzing data, manuscript preparation, and the decision to publish the manuscript.


  • bank account
  • financial inclusion
  • health-seeking behavior
  • older adults
  • Psychological distress
  • self-rated health
  • psychological distress


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