The of role economic growth in modulating mobile connectivity dynamics for financial inclusion in developing countries

Asongu, Simplice; Odhiambo, Nicholas M.

doi:10.2139/ssrn.4022892

SSRN Journal

2022

DOI: 10.2139/ssrn.4022892

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The of role economic growth in modulating mobile connectivity dynamics for financial inclusion in developing countries

Simplice Asongu

Nicholas M. Odhiambo

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2022

2024

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Cited by 2 publications

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“…In our fourth article, Asongu and Odhiambo (2022) look at how economic growth influences mobile money innovations and associated mobile connectivity dynamics (like the availability and functionality of mobile banks or other money accounts and the widespread availability of cellphones) in developing countries. Mobile phones have been shown to be a significant enabler of all 17 sustainable development goals.…”

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confidence: 99%

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Norman

2022

World Affairs

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mentioning

confidence: 99%

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Norman

2022

World Affairs

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Enhancing financial inclusion in India: the impact of socioeconomic and macroeconomic factors

Khan,

Sahu

2024

JFEP

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Purpose This paper aims to empirically examine the influence of macroeconomic and socioeconomic factors on improving financial inclusion in India, with a specific focus on two distinct indicators of financial inclusion. Design/methodology/approach This study has used a time-series data set covering the years 1996 to 2022, using a nonlinear autoregressive distributed lag methodology. This approach allows for the examination of both short- and long-run effects of key macroeconomic and socio-economic indicators, including GDP per capita growth, remittance inflows and the income share held by the lowest 20% of the population on the growth of two financial inclusion indicators: the number of commercial bank branches and ATMs per 100,000 adults. Findings Model-1 investigates how commercial bank branch growth affects financial inclusion. Positive remittance inflow growth and a rise in the income share of the bottom 20% both lead to increased financial inclusion in both the short and long term, with the effects being more pronounced in the long run. Conversely, negative effects of remittance inflow growth and a decline in GDP per capita growth lead to reduced financial inclusion, primarily affecting the long run. Focusing on ATM growth, Model-2 reveals that positive remittance inflow growth has the strongest impact on financial inclusion in the short term. While income share growth for the bottom 20% and GDP growth also positively influence financial inclusion, their effects become significant only in the long run. Conversely, a decline in GDP per capita growth hinders financial inclusion, primarily affecting the short run. Originality/value This study fills a gap in research on macroeconomic and socioeconomic factors influencing financial inclusion in India by examining the impact of GDP per capita growth, remittance inflows and the income share held by the lowest 20% of the population, an area relatively unexplored in the Indian context. Second, the study provides comprehensive distinct results for different financial inclusion indicators, offering valuable insights for policymakers. These findings are particularly relevant for policymakers working toward Sustainable Development Goal 8.10.1, as they can use the results to tailor policies that align with SDG objectives. Additionally, policymakers in other developing nations can benefit from this study’s findings to enhance financial inclusion in their respective countries.

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The of role economic growth in modulating mobile connectivity dynamics for financial inclusion in developing countries

Cited by 2 publications

References 62 publications

Note From the Editor

Note From the Editor

Enhancing financial inclusion in India: the impact of socioeconomic and macroeconomic factors

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