Financial Inclusion: Measurement and Comparative Analysis of Countries from Europe and Asia

Shantanu Ghosh and Tarak Nath Sahu ()
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Shantanu Ghosh: Vidyasagar University
Tarak Nath Sahu: Vidyasagar University

A chapter in Revisiting the Indian Financial Sector, 2022, pp 37-60 from Springer

Abstract: Abstract The study intends to measure and subsequently compare the degree of financial inclusion across the economies of Europe and Asia. Using exploratory factor analysis and the inverse of Euclidean distance for 24 countries from the continent of Europe and Asia in the recent past, the study estimates the achievement in financial inclusion. The findings show a significant presence of countries from the continent of Europe in the top order of index of financial inclusion (IFI) rankings. Further, among the rank holders, majority belongs to the countries in high-income group. Trivial differences are found while comparing the mean IFI values between the continents. However, IFI values have significantly changed over time within a country, and country differences in financial inclusion are significant when they are compared across income groups.

Keywords: Financial inclusion; Index of financial inclusion; Factor analysis; Euclidean distance; Cross-country comparison (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:isbchp:978-981-16-7668-0_3

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DOI: 10.1007/978-981-16-7668-0_3

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