Financial Inclusion and Economic Growth
Comparative Panel Evidence from Developed and Developing Asian Countries
Bibliographic Data
| ID | 3713643 |
|---|---|
| Authors | Shahzad Hussain (0000-0003-1038-5314, Rawalpindi Medical University), Ajid Ur Rehman (0000-0002-7179-5256, Riphah International University, corresponding author), Sabeeh Ullah (0000-0002-5055-1498, The University of Agriculture, Peshawar), Abdul Waheed (0000-0002-6667-4660, Foundation University Islamabad), Shoaib Hassan (0000-0002-4487-4020, National University of Modern Languages) |
| Year | 2024 |
| Volume | 14 |
| Issue | 1 |
| Publication date | 2024-01-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | SAGE Open (JOURNAL) |
| Journal identifiers | ISSN: 2158-2440 • E-ISSN: 2158-2440 |
| Publisher | SAGE Publications Inc (PUBLISHER) |
| DOI | 10.1177/21582440241232585 |
| OpenAlex | W4392307116 |
| Language | EN |
| Citations received | 9 |
| References cited | 58 |
We investigate the empirical nexus between financial inclusion and economic growth for an extended sample of 21 Asian countries spanning over a period from 2004 to 2019. Further, we also conducted a sub-sample analysis by dividing the overall samples into developed and developing countries. Our results reveal a significant positive long-term impact of financial inclusion on economic growth in Asia. Our pair-wise causality test shows bidirectional causality between financial inclusion and economic development. Our robust results are consistent across various estimation techniques. Our findings suggest that the influence of financial inclusion on economic growth is more pronounced in developing countries compared to developed countries. Our results hold across subsamples. These findings posit important policy insights to enable the policy-makers in designing policies that ensure efficient and inclusive financial system on an equitable basis to achieve sustainable economic growth. JEL classification: O16; O57; C38; C33
Developed country · Developing country · Development economics · Economic growth · Economics · Empirical evidence · Financial inclusion · Financial services · Macroeconomics · Economic Growth and Development · Financial Literacy, Pension, Retirement Analysis · Microfinance and Financial Inclusion · Finance
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| Unique citing works | 9 |
|---|---|
| Citations per year | 4,5 |
| Citation span | 2024 - 2026 (3) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 9 |