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Financial Inclusion, Economic Growth and Human Well-Being Nexus: Empirics from Pakistan, India, China, Sri-Lanka, Bangladesh and Malaysia

Author

Listed:
  • Marc Audi

    (AOU University/University Paris 1 Pantheon Sorbonne)

  • Chan Bibi

    (International Islamic University, Islamabad, Pakistan)

  • Khalil Ahmad

    (Higher Education Department, Government of the Punjab, Lahore, Pakistan)

Abstract

This article has examined the impact of financial inclusion on economic growth and human well-being in the case of Pakistan, India, China, Sri-Lanka, Bangladesh and Malaysia over the period of 1990 to 2018. Panel pooled regression has been applied for the examined the relationship among the selected variables of the model. The results show that financial development has a negative and insignificant impact on economic growth, but it has a negative and significant impact on human well-being. Number of bank branches have a positive but insignificant impact on economic growth, but number of bank branches have a positive and significant impact on human well-being. The loans to rural areas have a positive and significant impact on economic growth, whereas it has a positive but insignificant impact on human well-being. Money supply has a positive and significant impact on economic growth and human well-being at the same time. Foreign direct investment has a positive and significant impact on economic growth and human well-being. The results show that income inequality has a negative and significant impact on economic growth and human well-being. Economic development has a positive and significant impact on human well-being, this show that economic development can be enhanced for higher human well-being. The study suggests that for higher economic growth and human well-being, financial inclusion is playing an important role in the case of selected Asian countries.

Suggested Citation

  • Marc Audi & Chan Bibi & Khalil Ahmad, 2019. "Financial Inclusion, Economic Growth and Human Well-Being Nexus: Empirics from Pakistan, India, China, Sri-Lanka, Bangladesh and Malaysia," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 8(4), pages 177-190, December.
    • Handle: RePEc:rfh:bbejor:v:8:y:2019:i:4:p:177-190
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    More about this item

    Keywords

    Financial Inclusion; Economic Growth and Development; Poverty Reduction;
    All these keywords.

    JEL classification:

    • B26 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Financial Economics
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty

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