Furthering inclusive banks and inclusive capital markets: emerging markets' perspective

Financial inclusion: a catalyst for financial system development in emerging and frontier markets

“…The lucidity behind the study is that more mobilized and allocative funds within the financial system may accelerate financial development, and thereby boost the provision of better financial products, services or support to existing and potential customers. Furthermore, the findings are consistent with recent empirical evidence (Ofosu-Mensah Ababio et al , 2018; Tchamyou and Asongu, 2017; Tchamyou et al , 2019) which found that improved financial inclusion serves as an effective intervening tool for improving and enhancing the financial system.…”

“…Likewise, the findings support empirical works that maintain that financial inclusion expands financial coverage, and provides people with access to savings instruments, increases savings and credit facilities (Ashraf et al , 2010), all of which are important for financial system inclusion and development. The findings also buttress Ofosu-Mensah Ababio et al (2018) and Tchamyou et al (2019), who designed and applied financial inclusion index and found that it enhances the outreach of financial services, thereby fostering financial development. The findings reinforce the assertion that broader access to and use of financial services – financial inclusion – should be a central development agenda for financial systems (Demirguc-Kunt et al , 2018).…”

“…Also, these results are no mystery as they corroborate the findings of evolving empirical works and theoretical intuitions. The findings agree with the empirical works which document those digital tools such as ATMs (Ofosu-Mensah Ababio et al ., 2020), mobile telephony, internet and other branchless services (Ofosu-Mensah Ababio et al , 2018; 2020) are important elements for promoting more financial inclusion such as greater use of digital financial services foster financial development. Besides, the findings support empirical works (Allen et al , 2016), which say that factors such as high financial charges are detrimental to promoting inclusive financial systems.…”

“…In support, Ozili (2018) posits that the financial system is the beneficiary of financial inclusion. Also, financial inclusion is considered an effective policy instrument (tool) in ameliorating financial system inclusiveness (Ofosu -Mensah Ababio et al, 2018).…”

Sustainable energy for all: the link between financial inclusion, renewable energy and environmental sustainability in developing economies

“…Although the effects of financial development on renewable energy, CO 2 emissions and environmental sustainability have been documented in numerous studies, the number of studies that consider the role of financial inclusion in renewable energy consumption and CO 2 emissions in combating climate change, thereby ensuring environmental sustainability, has been less researched. Financial inclusion is recognized as an integral factor of financial development, as it contributes significantly to fostering the development of financial markets and institutions (Le et al , 2020; Ofosu-Mensah Ababio et al , 2018). According to the Innovation for Poverty Action (2017), inclusive financial systems have promising effects on the environment as devices to increase affordability, accessibility and adoption of improved environmental practices that lessen adverse contributions to climate change.…”