期刊
INDIAN JOURNAL OF ECONOMICS AND DEVELOPMENT
卷 17, 期 1, 页码 11-24出版社
SOC ECONOMICS & DEVELOPMENT
DOI: 10.35716/IJED/20245
关键词
Banking; economic development; financial inclusion; human development index; RBI
类别
The paper examines the relationship between financial inclusion and Human Development Index, finding that developed nations have higher levels of financial inclusion than less-developed countries, with factors such as per capita income, urbanization, and literacy rate also playing a significant role. Therefore, reducing inequalities, focusing on specific social groups for financial inclusion, and enhancing financial literacy are crucial for promoting inclusive growth.
Policymakers generally associate financial inclusion with economic growth and poverty alleviation. This paper explores the empirical relationship between the Human Development Index (HDI) and Index of Financial Inclusion (IFI) across 128 countries using correlation and regression analysis in STATA. The study revealed their interdependence and showed that developed nations (with high incomes and HDI Ranks) had greater inclusion than less-developed countries. Other socioeconomic variables, including per-capita income, urbanization, and literacy rate, also exhibited a strong correlation. Hence, reducing inequalities and focusing on the inclusion of certain sections of society (especially rural, poor, women, and farmers) in the financial system is crucial. Structured programs by RBI, Government, and NGOs can help to improve financial literacy. Deeper penetration of financial services in specific states (Bihar, Uttar Pradesh, Jharkhand, and the North-Eastern States) and enhanced internet connectivity will also be helpful.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据