{"title":"An asymmetric analysis of overall globalization on financial inclusion","authors":"Muhammed Ashiq Villanthenkodath, Shreya Pal","doi":"10.1108/jfep-01-2024-0006","DOIUrl":null,"url":null,"abstract":"<h3>Purpose</h3>\n<p>Financial inclusion is acknowledged as a critical facilitator of the United Nations Sustainable Development Goals agenda for 2030. Therefore, this study aims to examine the asymmetric role of overall globalization on financial inclusion by controlling economic growth, urbanization and population for the selected South Asian countries.</p><!--/ Abstract__block -->\n<h3>Design/methodology/approach</h3>\n<p>Applying the nonlinear autoregressive distributed lag approach to cointegration explores the impact of overall globalization on financial inclusion in the presence of additional variables like economic growth, urbanization and population in the designed financial inclusion function.</p><!--/ Abstract__block -->\n<h3>Findings</h3>\n<p>The estimated econometric outcomes show that increasing overall globalization fosters financial inclusion while decreasing overall globalization reduces financial inclusion. Furthermore, a positive (negative) change in economic growth leads to an increase (decrease) in financial inclusion while varying short-run findings. Moreover, both positive and negative changes increase financial inclusion in the long run in connection with urbanization. Although the short-run results are not significant, the study finds that an increase (decrease) in population leads to a decrease (increase) in financial inclusion. Finally, to support the promotion of financial inclusivity throughout South Asia, several policies pertaining to financial inclusion are suggested.</p><!--/ Abstract__block -->\n<h3>Originality/value</h3>\n<p>To the best of the authors’ knowledge, this is the first study to examine the asymmetries related to overall globalization on financial inclusion by controlling economic growth, urbanization and population.</p><!--/ Abstract__block -->","PeriodicalId":45556,"journal":{"name":"Journal of Financial Economic Policy","volume":null,"pages":null},"PeriodicalIF":1.3000,"publicationDate":"2024-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Financial Economic Policy","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1108/jfep-01-2024-0006","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
Purpose
Financial inclusion is acknowledged as a critical facilitator of the United Nations Sustainable Development Goals agenda for 2030. Therefore, this study aims to examine the asymmetric role of overall globalization on financial inclusion by controlling economic growth, urbanization and population for the selected South Asian countries.
Design/methodology/approach
Applying the nonlinear autoregressive distributed lag approach to cointegration explores the impact of overall globalization on financial inclusion in the presence of additional variables like economic growth, urbanization and population in the designed financial inclusion function.
Findings
The estimated econometric outcomes show that increasing overall globalization fosters financial inclusion while decreasing overall globalization reduces financial inclusion. Furthermore, a positive (negative) change in economic growth leads to an increase (decrease) in financial inclusion while varying short-run findings. Moreover, both positive and negative changes increase financial inclusion in the long run in connection with urbanization. Although the short-run results are not significant, the study finds that an increase (decrease) in population leads to a decrease (increase) in financial inclusion. Finally, to support the promotion of financial inclusivity throughout South Asia, several policies pertaining to financial inclusion are suggested.
Originality/value
To the best of the authors’ knowledge, this is the first study to examine the asymmetries related to overall globalization on financial inclusion by controlling economic growth, urbanization and population.
期刊介绍:
The Journal of Financial Economic Policy publishes high quality peer reviewed research on financial economic policy issues. The journal is devoted to the advancement of the understanding of the entire spectrum of financial policy and control issues and their interactions to economic phenomena. Economic and financial phenomena involve complex trade-offs and linkages between various types of risk factors and variables of interest to policy makers and market participants alike. Market participants such as economic policy makers, regulators, banking and competition supervisors, corporations and financial institutions, require timely and robust answers to the contemporary and emerging policy questions. In turn, such answers require thorough input by the academics, policy makers and practitioners alike. The Journal of Financial Economic Policy provides the forum to satisfy this need. The journal publishes and invites concise papers to enable a prompt response to current and emerging policy affairs.