Impact of Financial Inclusion on Economic Growth: GMM Approach

Nguyen, Khac Hieu; Nguyen, Thi Anh Van

doi:10.1109/gtsd50082.2020.9303088

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2023

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Cited by 3 publications

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Dynamic Model of the Effect of Electronic Money on Economic Growth in ASEAN-3

Zulfa,

Syahnur

2023

Studies in Systems, Decision and Control

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Dynamic Model of the Effect of Electronic Money on Economic Growth in ASEAN-3

Zulfa,

Syahnur

2023

Studies in Systems, Decision and Control

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Fintech Innovation in the Financial Sector: Influence of E-Money Products on a Growing Economy

Omodero

2021

Studia Universitatis „Vasile Goldis” Arad – Economics Series

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The FinTech innovation of e-money products in the financial sector has not gained sufficient recognition in Nigeria’s developing country. Despite the numerous economic benefits associated with this innovation, physical cash for financial transactions is still prevalent. Banks are still experiencing some level of cash withdrawals and deposits by individuals who refuse to embrace modern technology. This study stresses the economic benefits of e-payment channels available today and statistically supports evidence to substantiate their usefulness. In this study, we use banks’ e-money products as the independent variables, while GDP is employed as a proxy for the economy. The data are collected from 2006-2019 and are analyzed with multiple regression techniques using E-views version 9 software. The result shows that all banks’ e-money products have a significant favorable influence on the economy except the POS that is yet to gain momentum. The study suggests the full implementation of the cashless policy, proper education of the populace and guidelines to check electronic fraud.

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Role of Financial Inclusion on Economic Growth

Pandey,

Kaur

2023

Handbook of Research on Socio-Economic Sustainability in the Post-Pandemic Era

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The objective of the study is to analyze the effect of financial inclusion on the economic growth of the nation. The report of the World Bank indicates more than 1.6 billion adults to be unbanked globally as of February 2021. Women, deprived, and poor people of rural areas constitute a major portion of the unbanked population. The purpose of financial inclusion is to eliminate all obstacles, both on demand as well as supply side, to aid the deprived people for improved livelihood and eventually emanate in line with the mainstream of the economy to contribute towards sustainable growth. This study presents a comprehensive review of economic growth and financial inclusion. After examining the facts and figures, it can be established that financial inclusion plays a vital role for the economic growth and thereby social development of the community. Financial inclusion inculcates a habit of savings. It will intensify financial wealth and better fund management, which in-turn promotes trade and economic progression.

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Impact of Financial Inclusion on Economic Growth: GMM Approach

Cited by 3 publications

References 9 publications

Dynamic Model of the Effect of Electronic Money on Economic Growth in ASEAN-3

Dynamic Model of the Effect of Electronic Money on Economic Growth in ASEAN-3

Fintech Innovation in the Financial Sector: Influence of E-Money Products on a Growing Economy

Role of Financial Inclusion on Economic Growth

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