IDEAS home Printed from https://ideas.repec.org/a/spr/soinre/v171y2024i1d10.1007_s11205-023-03240-4.html
   My bibliography  Save this article

Does Financial Inclusion and Human Development Progress Sustainably? Evidence from Emerging Countries

Author

Listed:
  • A. Bhuvaneskumar

    (National Institute of Technology)

  • Jithin Benedict

    (Albertian Institute of Management)

  • Mahalakshmi Sankar

    (Albertian Institute of Management)

Abstract

Despite the big strides taken by the countries on economic growth due to globalization from the last decade of the twenty-first century, lack of financial inclusion, illiteracy and poor health conditions continue to hinder the social development of many countries. At the turn of the current decade, countries are looking at ways to meet the 2030 deadline set for SDGs. This study will guide policy makers to make strategic choices related to their investment in health and education to improve social development sustainably leading to better and sustained financial inclusion. Data related to 18 emerging countries (as given in MSCI report) for the time 2004 to 2018 was retrieved and Fixed Effect Panel Quantile (FPQR) was employed to study the nexus of human development (education, health), financial inclusion and carbon emissions. Each of the constructs related to financial inclusion, human development, health, and education were defined by appropriate variable for which data was available for the 15-year period. Findings of the study include, (i) Income and education have a favorable impact on the FI, but health and CO2 have a negative impact. (ii) Education, GDP, and CO2 have a favorable influence on the health index and a negative impact on FI. (iii) FI, health, and CO2 have positive effects on education but negative effects on GDP. (iv) GDP, education, and health all have a negative impact on CO2 emissions. This study emphasizes the means to achieve financial inclusion through sustained human development through education and health. The effect of environmental degradation caused by economic progression is also considered to give a sustainable model. Emerging economies focusing on improving the FI and HD can have policy ramifications to boost the education level of its citizens as well as increase the access to healthcare services for them. A financially and digitally literate society will improve its score on the human development index.

Suggested Citation

  • A. Bhuvaneskumar & Jithin Benedict & Mahalakshmi Sankar, 2024. "Does Financial Inclusion and Human Development Progress Sustainably? Evidence from Emerging Countries," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 171(1), pages 189-213, January.
    • Handle: RePEc:spr:soinre:v:171:y:2024:i:1:d:10.1007_s11205-023-03240-4
    DOI: 10.1007/s11205-023-03240-4
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s11205-023-03240-4
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s11205-023-03240-4?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:soinre:v:171:y:2024:i:1:d:10.1007_s11205-023-03240-4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.