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Bank-based Financial Intermediation for Financial Inclusion and Inclusive Growth

Author

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  • Swamy, Vighneswara

Abstract

Financial Inclusion for inclusive growth is a topic of contemporary significance and relevance. This study besides establishing the growth enhancing role of bank-based financial intermediation through empirical evidence has also found that access to finance by the poor is a prerequisite for poverty reduction in order to achieve inclusive growth and sustainable economic development. The study has evaluated using appropriate statistical techniques the impact of financial inclusion efforts on the inclusive growth in the case of a developing economy like India by considering the most reliable data for the period from 1975 to 2007. The theoretical and empirical analysis leads us to conclude that bank led financial inclusion has definitive advantages for inclusive growth in developing economies.

Suggested Citation

  • Swamy, Vighneswara, 2010. "Bank-based Financial Intermediation for Financial Inclusion and Inclusive Growth," MPRA Paper 47510, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:47510
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    References listed on IDEAS

    as
    1. Bhandari, Amit Kumar, 2009. "Access to Banking Services and Poverty Reduction: A State-wise Assessment in India," IZA Discussion Papers 4132, Institute for the Study of Labor (IZA).
    2. Andrea Vaona, 2005. "Regional Evidence on the Finance-Growth Nexus," Working Papers 30/2005, University of Verona, Department of Economics.
    3. Dwight Jaffee & Mark Levonian, 2001. "The Structure of Banking Systems in Developed and Transition Economies," European Financial Management, European Financial Management Association, vol. 7(2), pages 161-181.
    4. Ross Levine & Norman Loayza & Thorsten Beck, 2002. "Financial Intermediation and Growth: Causality and Causes," Central Banking, Analysis, and Economic Policies Book Series,in: Leonardo Hernández & Klaus Schmidt-Hebbel & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Se (ed.), Banking, Financial Integration, and International Crises, edition 1, volume 3, chapter 2, pages 031-084 Central Bank of Chile.
    5. Andrea Vaona & Roberto Patuelli, 2008. "New empirical evidence on local financial development and growth," Letters in Spatial and Resource Sciences, Springer, vol. 1(2), pages 147-157, December.
    6. Shawn Cole, 2009. "Financial Development, Bank Ownership, and Growth: Or, Does Quantity Imply Quality?," The Review of Economics and Statistics, MIT Press, vol. 91(1), pages 33-51, February.
    7. Beck, Thorsten & Lundberg, Mattias & Majnoni, Giovanni, 2006. "Financial intermediary development and growth volatility: Do intermediaries dampen or magnify shocks?," Journal of International Money and Finance, Elsevier, vol. 25(7), pages 1146-1167, November.
    8. Christopoulos, Dimitris K. & Tsionas, Efthymios G., 2004. "Financial development and economic growth: evidence from panel unit root and cointegration tests," Journal of Development Economics, Elsevier, vol. 73(1), pages 55-74, February.
    9. Greenwood, Jeremy & Smith, Bruce D., 1997. "Financial markets in development, and the development of financial markets," Journal of Economic Dynamics and Control, Elsevier, vol. 21(1), pages 145-181, January.
    10. Beck, Thorsten & Levine, Ross & Loayza, Norman, 2000. "Finance and the sources of growth," Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 261-300.
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    Citations

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    Cited by:

    1. Mahfuza Akther & Sayera Younus & Farida Parveen & Maidul Chowdhury, 2016. "Does Agricultural Credit Play Any Role in Reducing Rural Poverty in Bangladesh?," Working Papers id:10785, eSocialSciences.
    2. repec:pid:journl:v:55:y:2016:i:4:p:455-466 is not listed on IDEAS
    3. repec:ovi:oviste:v:xvii:y:2017:i:1:p:195-204 is not listed on IDEAS
    4. Swamy, Vighneswara, 2014. "Reforms in Institutional Finance for Inclusive Growth," MPRA Paper 58337, University Library of Munich, Germany.

    More about this item

    Keywords

    Government Policy and Regulation; Economic Development and Financial Markets; Financial Inclusion; Institutions and Growth;

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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