Towards Effective Governance for Financial Inclusion in Ecuador: A Regulatory Approach (Veredas do Direito Direito Ambiental e Desenvolvimento Sustentável)

Summary

• A stratified sample of 151 key actors from Ecuador's financial system was analyzed to evaluate five dimensions of financial inclusion.p.1
• The study evaluated 19 indicators across five latent factors using Structural Equation Modeling in AMOS 24.p.1
• Structural Equation Modeling showed a significant positive relationship between the Regulatory and Supervisory Framework and Financial Inclusion (β = 0.95, p = 0.008).p.1
• The Regulatory and Supervisory Framework recorded the highest perceived implementation level at 78.5%.p.1
• The empirical survey achieved a overall response rate of 78.3% during data collection from March to May 2024.p.9

Key insights

1. Structural equation modeling indicates that a strong regulatory framework directly drives effective financial inclusion in Ecuador (β = 0.95, p = 0.008).p.12
2. Public officials represent the largest proportion of respondents in the study sample at 25.8%.p.8
3. The measurement instrument exhibited high internal consistency with a total Cronbach's alpha of 0.952.p.9
4. Exploratory factor analysis identified five latent factors explaining 68.4% of the total variance.p.9
5. A notable execution gap exists between formal statutory regulation and practical governance implementation.p.2