Formal microsaving: A PRISMA-compliant systematic review of its exogenous determinants

01.09.2022
This paper reviews the determinants of formal microsaving (FMS), while also X-raying literature-documented conceptual sub-elements/sub-constructs of formal microsaving development (FMSD). This is with the intention to sensitize stakeholders as to what works for FMS and what doesn’t. The paper also offers an overview of the state of research in this academic sub-domain, with suggestions/guides for related future research agenda. Analysis of 301 articles was undertaken using PRISMA. The paper’s analysis affirms that the identified determinants were varied, using only a limited set of empirical methodologies. The geographical focus of most of the relevant studies were on Asia/Africa, with other regions largely ignored. The paper presents a novel review of the determinants of FMS. Also, the identified deconstructed sub-elements of FMSD could further sensitize researchers of its hitherto unknown multidimensional nature. Consequently, this could enhance the expansion of relevant empirical/theoretical knowledge with the additional possibility of initiating/influencing relevant global policy regeneration towards microsaving development.