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The Impacts of Financial Inclusion on Economic Development: Cases in Asian-Pacific Countries

Author

Listed:
  • Van Dinh Thi Thanh

    (Ph.D., Faculty of Finance and Banking, Vietnam National University University of Economics and Business, Hanoi, Vietnam; dinhthanhvan@gmail.com)

  • Linh Nguyen Ha

    (Research Assistant, Faculty of Finance and Banking, Vietnam National University University of Economics and Business, Hanoi, Vietnam)

Abstract

Financial inclusion efforts seek to ensure that all members of an economy can have access to and effectively use appropriate financial services. Improving financial inclusion has become a significant concern for developed and developing countries alike. There are many indicators of financial inclusion, the most elementary of which includes having an account in a financial institution. This paper will evaluate the impact of indicators of financial inclusion on economic development. The result shows that correlations exist between large numbers of bank branches, ATMs, domestic credit in the private sector and the increased rate of development in the economy. People will gain a more prosperous life due to this development. The paper also provides recommendations for the governments of developing countries to improve financial inclusion.

Suggested Citation

  • Van Dinh Thi Thanh & Linh Nguyen Ha, 2019. "The Impacts of Financial Inclusion on Economic Development: Cases in Asian-Pacific Countries," Comparative Economic Research, Sciendo, vol. 22(1), pages 7-16, March.
    • Handle: RePEc:vrs:coecre:v:22:y:2019:i:1:p:7-16:n:1
    DOI: 10.2478/cer-2019-0001
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    More about this item

    Keywords

    Asia; account; ATMs; bank; credit; economic development; financial inclusion;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General

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