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首页> 外文期刊>Journal of Financial Economic Policy >Financial inclusion and economic growth linkage: some cross country evidence
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Financial inclusion and economic growth linkage: some cross country evidence

机译：金融普惠与经济增长联系：一些跨国证据

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Purpose - The purpose of this paper is to assess the dynamic impact of financial inclusion on economic growth for a large number of developed and developing countries. Design/methodology/approach - This study uses some panel data models such as country-fixed effect, random effect and time fixed effect regressions, panel cointegration, and panel causality tests to examine the linkage between financial inclusion and economic growth. Panel cointegration is being used to test the long run association between financial inclusion and economic growth, whereas panel causality test is used to find the direction of causality between financial inclusion and economic growth. The data on financial inclusion are taken from Sarma (2012) for the period 2004-2010. Findings - The empirical findings reveal that there is a positive and long run relationship between financial inclusion and economic growth across 31 countries in the world. Further, panel causality test shows a bidirectional causality between financial inclusion and economic growth Thus, the study confirms that financial inclusion is one of the main drivers of economic growth. Research limitations/implications - This study has two limitations. First, this study considers only banking institutions in the analysis. Second, the period tested for the long run relationship is not long enough. Practical implications - This study empirically measures the quantitative impact of financial inclusion policies pursued across the world. The study also suggests that policies emphasizing financial sector reforms in general and promoting financial inclusion in particular shall result in higher economic growth in the long run. Originality/value - This study attempts to assess the long run relationship between financial inclusion and economic growth with the help of a multidimensional index of financial inclusion. Therefore, this can be a valuable contribution to the banks and policymakers.
机译：目的-本文的目的是评估金融普惠对许多发达国家和发展中国家经济增长的动态影响。设计/方法/方法-这项研究使用了一些面板数据模型，例如国家固定效应，随机效应和时间固定效应回归，面板协整和面板因果关系检验，以检验金融包容性与经济增长之间的联系。面板协整用于检验金融包容性与经济增长之间的长期关联，而面板因果关系检验用于确定金融包容性与经济增长之间因果关系的方向。关于金融普惠性的数据取自Sarma（2012）2004-2010年期间。调查结果-实证结果表明，全球31个国家的金融包容性与经济增长之间存在长期积极的关系。此外，面板因果关系检验显示了金融包容性与经济增长之间的双向因果关系。因此，研究证实了金融包容性是经济增长的主要驱动力之一。研究局限性/含义-该研究有两个局限性。首先，本研究仅考虑分析中的银行机构。其次，测试长期关系的期限还不够长。实际意义-这项研究从经验上衡量了全世界推行的金融普惠政策的量化影响。研究还表明，从总体上讲，强调金融部门改革，特别是促进金融包容性的政策将导致长期更高的经济增长。原创性/价值-本研究试图借助金融包容性的多维指标评估金融包容性与经济增长之间的长期关系。因此，这可以为银行和决策者做出宝贵的贡献。

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