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

In: Revisiting the Indian Financial Sector

Author

Listed:
  • Shantanu Ghosh

    (Vidyasagar University)

  • Tarak Nath Sahu

    (Vidyasagar University)

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.

Suggested Citation

  • Shantanu Ghosh & Tarak Nath Sahu, 2022. "Financial Inclusion: Measurement and Comparative Analysis of Countries from Europe and Asia," India Studies in Business and Economics, in: Paramita Mukherjee (ed.), Revisiting the Indian Financial Sector, pages 37-60, Springer.
    • Handle: RePEc:spr:isbchp:978-981-16-7668-0_3
    DOI: 10.1007/978-981-16-7668-0_3
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