Universal Financial Inclusion and Economic Growth Linkage – Evidence from Emerging Indian Economy

Anand Pandey (), R. Murugesan and Nitin Kumar
Additional contact information
Anand Pandey: National Institute of Technology Tiruchirappalli, India
R. Murugesan: National Institute of Technology Tiruchirappalli, India
Nitin Kumar: Indira Gandhi Institute of Development Research (IGIDR), India

Journal of Economic Development, 2024, vol. 49, issue 1, 97-123

Abstract: This paper examines the linkages of various financial inclusion parameters on economic growth for an emerging economy viz., India to review the policy measures implemented in this sphere. In this context, in addition to standard measures of financial inclusion, this study incorporates auxiliary indicators also like mobile and card statistics, usage of electronic channels, pension and insurance subscribers to obtain a comprehensive assessment of the impact of financial inclusion on economic growth in the Indian economy. Bayesian vector autoregression is applied that is established to provide robust results even in small sample sizes and examines the role played by individual measures of financial inclusion separately on overall growth. It is evidenced that factors like branch network, electronic remittance services, and insurance schemes display a significant role in affecting economic growth in India

Keywords: Financial Inclusion; Economic Growth; Bayesian Vector Autoregression (search for similar items in EconPapers)
JEL-codes: C30 G20 O10 (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
https://jed.cau.ac.kr/archives/49-1/49-1-6.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:jecdev:0082

Access Statistics for this article

Journal of Economic Development is currently edited by Sung Y. Park

More articles in Journal of Economic Development from The Economic Research Institute, Chung-Ang University Room 1040, Building 310, Chung-Ang University, 84 Heukseok-ro, Dongjak-gu, Seoul 06974, South Korea. Contact information at EDIRC.
Bibliographic data for series maintained by Tram Nguyen ().