IDEAS home Printed from https://ideas.repec.org/a/eee/riibaf/v82y2026ics0275531925004805.html

The impact of financial inclusion on sustainable development: Evidence from BICS economies

Author

Listed:
  • Chen, Chi
  • Pal, Shreya
  • Mahalik, Mantu Kumar
  • Gozgor, Giray

Abstract

This study examines the impact of financial inclusion on sustainable development in the BICS (Brazil, India, China, and South Africa) economies, using balanced panel data from 2004 to 2023. This study also employs the System Generalised Method of Moments, Driscoll–Kraay standard errors, and Feasible Generalised Least Squares regression techniques for the empirical analysis. The findings indicate that financial inclusion is a significant driver of sustainable development. Gross fixed capital formation and urbanisation also make positive contributions, underscoring the importance of sustainable infrastructure and well-planned urban growth. By contrast, economic globalisation and ineffective government policies are found to hinder progress towards sustainability. Taken together, these results highlight the need for BICS countries to expand financial access, increase investment in fixed capital, and promote resilient urban development.

Suggested Citation

  • Chen, Chi & Pal, Shreya & Mahalik, Mantu Kumar & Gozgor, Giray, 2026. "The impact of financial inclusion on sustainable development: Evidence from BICS economies," Research in International Business and Finance, Elsevier, vol. 82(C).
    • Handle: RePEc:eee:riibaf:v:82:y:2026:i:c:s0275531925004805
    DOI: 10.1016/j.ribaf.2025.103224
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0275531925004805
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.ribaf.2025.103224?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

    for a different version of it.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    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:eee:riibaf:v:82:y:2026:i:c:s0275531925004805. 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: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ribaf .

    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.