The Impact of Financial Inclusion on Economic Growth and Income Inequality
Küçük Resim Yok
Tarih
2021
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Financial inclusion is defined as the access of households and firms tobeneficial and reasonably priced financial products and services which arein line with their necessities. These could be financial transactions, transfers,savings, and loans. After narrowing down the definition, it then measuresfinancial inclusion by using indexation technique. A major contribution ofthis study is the development of a measure of financial inclusion viaformation of three indices, namely financial access index, firm-level andhousehold-level financial usage indices. These three indices capture differentaspects of financial inclusion, which is comprised of access to financialservices by both households and firms in addition to effective use of theseservices. Based on Global Findex database and the Enterprise Surveydatabase collected by the World Bank, Financial Access database collectedby the International Monetary Fund the study introduces measures ofhousehold-level and firm-level inclusion, with placing Europe and CentralAsia in a historical and cross-country perspective. By using Panel andOrdinary Least Squares regression analysis, it analyzes the impact offinancial inclusion on two important macroeconomic variables, namelygrowth and inequality. Moreover, it focuses particularly on the ECA regionand analyzes the dynamics in the region. The study aims at documenting thestatus of financial inclusion in ECA, while shedding light on the impact offinancial inclusion on growth and inequality. It concludes that, in line withthe contemporary literature, financial inclusion enhances growth andreduces inequality with better access to resources to finance bothconsumption and investment. According to the article’s findings, thepositive impact of financial inclusion on growth is significant in the ECAregion.
Açıklama
Anahtar Kelimeler
Kaynak
İnsan ve Toplum Bilimleri Araştırmaları Dergisi
WoS Q Değeri
Scopus Q Değeri
Cilt
10
Sayı
2
