Antecedents and Extent of Financial Inclusion : A Cross-Sectional Study

Tandon, Priyanka; Singh, Anurag Bhadur

doi:10.17010/ijf/2021/v15i3/158129

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“…, 2015). It helps in increasing the access to formal financial services by individuals (Mehmood, 2022a; Tandon and Singh, 2021). Furthermore, the increased economic growth enhances the energy consumption for production activities (Zaidi et al.…”

Section: Introductionmentioning

confidence: 99%

“…Financial development is one of the crucial factors in determining the overall process of development (Le et al, 2019;Sahay et al, 2015). It helps in increasing the access to formal financial services by individuals (Mehmood, 2022a;Tandon and Singh, 2021). Furthermore, the increased economic growth enhances the energy consumption for production activities (Zaidi et al, 2021) and makes intensive efforts toward achieving economic growth at the cost of high anthropogenic emissions.…”

Section: Introductionmentioning

confidence: 99%

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Does financial inclusion spur carbon emissions in India: an ARDL approach

Singh¹,

Tandon²,

Jasuja

2022

MEQ

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PurposeThe present study tries to examine the relationship between financial inclusion and environmental quality as proxied by carbon emissions in India covering the period from 2008 to 2018.Design/methodology/approachA financial inclusion index has been composed using principal component analysis (PCA) based on three dimensions: access, penetration and usage. After testing for stationarity of the data, the authors adopted the autoregressive distributive lag model (ARDL) methodology.FindingsThe study found that financial inclusion and growth lead to increased carbon emissions in India and the government must resort to greener policies, whereas empirical results support that globalization reduced the pollutants emissions in both the long term and short period in India.Practical implicationsBased on the results, several policy prescriptions are rendered for policymakers: (1) need to move toward greener energy policies and (2) enhance the awareness of green financing instruments such as green bonds in India. Therefore, policymakers should be more proactive in accepting green and sustainable financial alternatives.Originality/valueThe present study contributes to the scant literature on the financial inclusion–emission nexus in India. This study considers three inclusion parameters that are not present in previous studies.

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Section: Introductionmentioning

confidence: 99%