Does Financial Inclusion Promote Human Development? Evidence from India

Arora, Neha; Kumar, Naresh

doi:10.1177/22786821211045180

Cited by 7 publications

(3 citation statements)

References 35 publications

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“…It allows people to smooth their consumption and invest in their well-being through education and health. This result is in line with Arora and Kumar (2021), Kamalu and Wan Ibrahim (2021), Emara and El Said (2021), and Matekenya et al (2021).…”

Section: Discussion Of the Empirical Resultssupporting

confidence: 87%

Can financial inclusion enhance human development? Evidence from low- and middle-income countries

Tissaoui,

Hakimi,

Zaghdoudi

2024

Humanit Soc Sci Commun

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The purpose of this study is to determine if financial inclusion in low-, lower-middle-, and upper-middle-income nations promotes human development. Our aim was accomplished by employing an empirical technique of using the System Generalized Method of Moments (SGMM) and dynamic threshold panel (DTP) data on a sample of 79 nations between 2000 and 2017. Three sub-samples representing low-, lower-, and upper-middle-income nations were created from the entire sample. In general, lower- and upper-middle-income nations’ human development is positively impacted by financial inclusion, according to SGMM empirical studies. Furthermore, the DTP method’s results show that there is a threshold impact for both human development and financial inclusion. The degree of human development in upper-middle-income and lower-middle-income countries is greatly raised by financial inclusion, whether the threshold is met or beyond.

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Section: Discussion Of the Empirical Resultssupporting

confidence: 87%

Can financial inclusion enhance human development? Evidence from low- and middle-income countries

Tissaoui,

Hakimi,

Zaghdoudi

2024

Humanit Soc Sci Commun

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“…Ababio et al, 2019). The results of this study are reinforced byArora and Kumar (2021), which states that the government needs to accelerate nancial inclusion policies in India because it is empirically proven that nancial inclusion and human development have a two-way causality relationship based on the Granger non-causality test. This means that nancial inclusion plays a key role in human development.…”

mentioning

confidence: 62%

Index of Financial Inclusion and its Relationship with Human Development: Comparative Study of Composite Index and Sarma Analysis

samputra¹

2023

Preprint

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This study to find the dimensions and weights as the best measure of the financial inclusion index by comparing the Sarma analysis with the Composite Index, then analyzing its relationship to human development. The quantitative approach uses Factor Analysis followed by Fixed Effect Model. The data sample is 217 countries grouped by income level from 2011 to 2017. It was found that Access and Usage are two essential dimensions of the financial inclusion index, with the weight of Access (0.60) greater than usage (0.4). Human development acts as an intervening variable and has a significant effect on increasing financial inclusion.

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“…Ababio et al (2021), after analysing the data of twenty frontier markets spanning from 2005 to 2014, concluded in their study that low human development is the root cause of low financial inclusion, and promoting financial inclusion through the banking sector would be effective to stimulate human development. Even Arora and Kumar (2021) established that financial inclusion through banking operations acts as a key to human development in the Indian context. Most recently, the study of Abdelghaffar et al (2022) reveals that in low and lower-middle-income countries; financial inclusion has a higher effect on human development than in high and upper-middle-income countries.…”

Section: Methodsmentioning

confidence: 99%

Revisiting Financial Inclusion with Human Development in India

Saha

Alam

2022

Indian Journal of Human Development

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There have been several interventions by the government to promote financial inclusion in India with aiming towards inclusive growth. The present study attempts to measure financial inclusion in India during 2001–2019, with segregating states/union territories and using the dimensions—availability, access and usage of banking services. The index value of each dimension is calculated with the help of the method, ‘Max–Min procedure to convert indicators into indices’, and overall index value of financial inclusion is obtained by taking the geometric mean of the three index values of the three dimensions. A fluctuating trend of financial inclusion reflects a less satisfactory performance. Financial inclusion is also evaluated following the CRISIL’s (Credit Rating Information Services of India Limited) criteria of measurement. The lack of a modernised financial system and financial illiteracy of the vulnerable group, especially in remote areas, often hold back the mission to run efficiently. So finally, the nexus between financial inclusion, human development and the growth & development of India is studied with the expectation that people’s empowerment might help the mission to be successful. The states and regions to be focused upon are detected and required improvements in banking services are examined through an environmental analysis based on the existing system.

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Does Financial Inclusion Promote Human Development? Evidence from India

Cited by 7 publications

References 35 publications

Can financial inclusion enhance human development? Evidence from low- and middle-income countries

Can financial inclusion enhance human development? Evidence from low- and middle-income countries

Index of Financial Inclusion and its Relationship with Human Development: Comparative Study of Composite Index and Sarma Analysis

Revisiting Financial Inclusion with Human Development in India

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