The Role of Financial Inclusion in Reducing Youth Unemployment and Mortality in the MENA Region: An Application of FMOLS Approach with Panel Data

Jabrane Amaghouss () and Hanane Elmasmari ()
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Jabrane Amaghouss: Cadi Ayyad University
Hanane Elmasmari: Cadi Ayyad University

No 1813, Working Papers from Economic Research Forum

Abstract: This study investigates the effects of financial inclusion on youth unemployment and mortality rates, using panel data from 17 countries in the MENA region over the period 2004-2022. Controlling for variables such as the ICT development index, economic growth, and inflation rates, the results reveal a causal relationship between financial inclusion and both youth unemployment and mortality rates. Moreover, the Fully Modified Ordinary Least Squares (FMOLS) model results support the hypothesis that an inclusive financial system contributes to reducing both youth unemployment and mortality rates in the long term. Additionally, the GMM estimates further corroborate the role of financial inclusion in achieving SDGs 3 and 8. In contrast, the control variables show that an increase in the ICT development index raises unemployment but reduces the likelihood of youth mortality. Meanwhile, economic growth and inflation rate have a relatively weak impact on both youth unemployment and mortality risk in the MENA region.

Pages: 22
Date: 2025-12-14, Revised 2025-12-14
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Published by The Economic Research Forum (ERF)

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