Determinants of Human Wellbeing and its Prospect Under the Role of Financial Inclusion in South Asian Countries

Marc Audi, Marc Poulin and Amjad Ali

MPRA Paper from University Library of Munich, Germany

Abstract: This study aims to examine the impact of financial inclusion on human well-being in South Asian countries from 1996 to 2020. Specifically, Pakistan, India, Sri Lanka, and Bangladesh were selected for this investigation. Human well-being is treated as the dependent variable, while financial inclusion, health facilities, voice & accountability, income inequality, corruption, education facilities, and the unemployment rate are considered independent variables. The study's findings indicate that financial inclusion, health facilities, and education facilities have a positive and significant impact on human well-being. The improvement of health and educational facilities not only creates more employment opportunities but also contributes to the enhancement of income, education, and health status within a nation. These results explain that selected South Asian countries should prioritize the promotion of education and health facilities to elevate the overall level of human well-being. Voice & accountability, along with corruption, exhibit an inverse and significant influence on human well-being in selected South Asian countries. Income inequality, on the other hand, shows an inverse but insignificant impact on human well-being, while unemployment has a significant and positive influence. Based on the estimated results, it is recommended that to enhance the level of human well-being in South Asian countries, there is a need to improve financial inclusion, health facilities, and educational facilities.

Keywords: human well-being; financial inclusion; health facilities; voice & accountability (search for similar items in EconPapers)
JEL-codes: D63 I22 I30 P46 (search for similar items in EconPapers)
Date: 2023
New Economics Papers: this item is included in nep-fdg, nep-fle, nep-hap and nep-hea
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

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