Status and Trends in Financial Inclusion and Financial Stability: A Comparative Analysis of SAARC Countries
Keywords:
financial inclusion; financial sector/s; SAARC countries; SAARC economy; FI index
Abstract
Financial Inclusion (FI) refers to the process of bringing more people under the coverage of formal financial sector/s. It is very common in developed countries over the decades. But with the development of science and technology, financial inclusion has been introduced and spread in many developing nations in recent times. Most of the South Asian Association for Regional Cooperation (SAARC) nations are still under the category of developing economies. Mostly financial inclusion has taken part in this region for the last two decades. This research conducted a comparative study among the different SAARC nations based on the achievement in financial inclusion. This paper attempted to identify the sequential position of those countries as they can evaluate them by comparing each other for further improvement and stability.
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References
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Anwar, S.M.R., Tanzo T.T., Mostafa R. (2017). Financial Inclusion- A Comparative Study On South Asia, Business Excellence, and Management, VoL. 7, No: 4.
Banglapedia (The National Encyclopedia of Bangladesh). (2020). Edited by Mohsin, K. M. Chapter: Banking System, Pre-modern, Retrieved on June 7, 2022, from https://en.banglapedia.org/index.php
Bozkurt, I., Karakuş, R., Yildiz, M. (2018). Spatial Determinants of Financial Inclusion over Time, Journal of International Development, Vol. 30, No. 8, Pages 1474-1504.
Chakravarty, S. R., & Pal, R. (2013). Financial inclusion in India: An axiomatic approach. Journal of Policy Modeling, 35, 813–837.10.1016/j.jpolmod.2012.12.007.
Chattopadhyay, S. K. (2011). Financial inclusion in India: A case study of West Bengal. RBI Working Paper Series, 8, 1–27.
Demirguc-Kunt, A., Klapper, L., Singer, D., Ansar, S. & Hess, J. (2018). The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution. Washington, DC: World Bank.
Ellis, K., Lemma, A., & Rud, J. (2010). Financial inclusion, household investment and growth in Kenya and Tanzania. Project Briefing, Overseas Development Institute, 43, 1–4.
Hussain, F. & Chakraborty, D.K. (2012). Causality between Financial Development and Economic Growth: Evidence from an Indian State, Romanian Economic Journal, 15(35):27–48.
International Monetary Fund. (2021). Financial Access Survey -2020. IMF Data Bank, IMF.
Kelkar, V. (2010). Financial inclusion for inclusive growth. ASCI Journal of Management, 39, 55–68
Kumar, N. (2013). Financial inclusion and its determinants: Evidence from India. Journal of Financial Economic Policy, 5, 4–19.10.1108/17576381311317754.
Lenka, S.K. & Sharma, R. (2017). Does Financial Inclusion Spur Economic Growth in India?. The Journal of Developing Areas, 51(3): 215–28.
Mehrotra, A., & Yetman, J. (2015). Financial inclusion- issues for central banks. BIS Quarterly Review, 83–96.
Murthy, D.S., Patra, S.K. & Samantaraya, A. (2014). Trade Openness, Financial Development Index and Economic Growth: Evidence from India. Journal of Financial Economic Policy, 6(4): 362–75.
Ratti, M. (2012). Indian financial system & Indian banking sector: A descriptive research study. International Journal of Management and Social Science Research,1, 3–8.
Singh, D., (2020). Financial inclusion and economic growth nexus: Evidence from SAARC countries. South Asia Research. Vol. 41(1): 1–21. DOI: 10.1177/0262728020964605.
World Bank (WB). (2015). How to Measure Financial Inclusion, Financial Inclusion Strategies Reference Framework, Available at: https://www.worldbank.org/en/topic/financialinclusion/brief/how-to-measure-financial-inclusion
World Bank (WB). (2017). Global Findex Database 2017, Available at: https://globalfindex.worldbank.org/
Published
2022-07-19
How to Cite
B M Sajjad Hossain, Nasrin Akhter, Md. Taufiqul Islam, & Md. Abul Hasam. (2022). Status and Trends in Financial Inclusion and Financial Stability: A Comparative Analysis of SAARC Countries. Britain International of Humanities and Social Sciences (BIoHS) Journal, 4(2), 397-404. https://doi.org/10.33258/biohs.v4i2.701
Section
Articles
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