This study employs bibliometric and visualisation techniques to analyse global trends in financial inclusion and the innovative tools that promote it.By examining a multidatabase compilation of 4202 documents sourced ...This study employs bibliometric and visualisation techniques to analyse global trends in financial inclusion and the innovative tools that promote it.By examining a multidatabase compilation of 4202 documents sourced from Scopus and Web of Science,the significant role of book chapters in disseminating research in this field is highlighted.Our analysis reveals rapid growth in publications,particularly from China and India,and identifies key influential works and authors.Additionally,it is observed that financial inclusion is approached from a multidisciplinary perspective.The findings of this study also indicate a shift in research focus from traditional concepts such as“housing”and“banking”to“digitalisation”and“sustainability.”Key research trends in financial innovative tools include regulatory frameworks,mobile money,and financial education.The issues discussed in this article seek to contribute to the ongoing dialogue on developing intellectual frameworks withing the financial inclusion literature.They offer valuable insights for policymakers,industry practitioners,and researchers in the fields of financial innovation and inclusion.展开更多
This study presents an all-inclusive analysis of the literature on the augmentation of financial inclusion through fintech.Ninety-six papers were selected from the 2951 articles in the Web of Science,Scopus,and EBSCO ...This study presents an all-inclusive analysis of the literature on the augmentation of financial inclusion through fintech.Ninety-six papers were selected from the 2951 articles in the Web of Science,Scopus,and EBSCO databases.This study uses bibliometric and content analysis techniques to illuminate the underexplored aspects of fintech’s impact on financial inclusion.Unlike previous studies,this study consolidates a significant amount of the literature on financial inclusion by systematically contextualizing theories and viewpoints from the fintech sector.The key findings include the identification of three main research clusters:(1)the advent of novel services,(2)the transformation of the market landscape,and(3)the roles of stakeholders in the fintech ecosystem.The analysis reveals gaps in the existing research,such as the need for more studies on the tangible impact of fintech on financial inclusion and regulation.This study concludes by highlighting potential directions for future research and emphasizing the importance of policymakers paying greater attention to fintech’s implications for financial inclusion.展开更多
Financial inclusion has recently emerged as an important pillar for sustainable economic growth,poverty eradication,and social transformation globally.While the effects of institutional quality on financial inclusion ...Financial inclusion has recently emerged as an important pillar for sustainable economic growth,poverty eradication,and social transformation globally.While the effects of institutional quality on financial inclusion have been widely investigated,their long-term effects have largely been underexplored,particularly for the Asia–Pacific region.We are especially interested in these long-term effects because institutional reforms require time for implementation and their impacts on various socioeconomic issues are only gradually observed.This paper has developed a new index of institutional quality for countries in the Asia–Pacific region from 2004 to 2020 using the principal component analysis.We estimate the long-term effects of institutional quality on financial inclusion using long-term estimators,including the augmented mean group and the common correlated effects mean group estimators.In our study,institutional quality is proxied by the new index developed in this paper and then by each of the five fundamental aspects of institutional quality:(i)business freedom,(ii)regulatory quality,(iii)investment freedom,(iv)government effectiveness,and(v)the rule of law.We find that improved institutional quality is fundamental to achieving financial inclusion in the region.These effects are particularly prominent in high-income countries in the Asia–Pacific region.However,a closer look at these long-term effects reveals that this effect is conditional on the income level.Interestingly,this long-term effect can be established for high-income countries such as Australia and Japan but not for Singapore.In addition,in the case of middle-income countries,the long-term effect can be confirmed for countries such as Malaysia,Indonesia,and the Philippines but not for Thailand and Vietnam.Our results show that institutional reform,albeit very important,should not be considered the only fundamental pillar ensuring financial inclusion,sustainable economic growth,and social transformation in the long run.展开更多
The vigorous development of information and communications technology has accelerated reshaping of the financial industry. The COVID-19 pandemic has further catalyzed the demand for digital financial services. Digital...The vigorous development of information and communications technology has accelerated reshaping of the financial industry. The COVID-19 pandemic has further catalyzed the demand for digital financial services. Digital financial inclusion relies on information technology to overcome spatial limitations. In this case, the research question is whether it adheres to the spatial laws governing conventional financial activities. This study uses exploratory spatial data analysis and a geographical detector to elucidate the spatiotemporal characteristics and factors influencing digital financial inclusion at the county level in China(Data don’t include that of Hong Kong, Macao and Taiwan of China) from 2014 to 2020. The research findings indicate: first, China’s county-level digital financial inclusion is generally increasing and exhibits significant spatial autocorrelation. Second, population density, level of traditional financial development, government regulation, and education level are key determinants of China’s county-level digital financial inclusion. Third,policies should be differentiated by region to narrow the spatial gap in digital financial inclusion. The results provide a reference for other developing countries on using digital technology to develop financial inclusion.展开更多
Digital financial inclusion(DFI)has the advantage of promoting information sharing,reducing transaction costs,and providing microloan platforms for small and medium-sized enterprises.It has also made outstanding contr...Digital financial inclusion(DFI)has the advantage of promoting information sharing,reducing transaction costs,and providing microloan platforms for small and medium-sized enterprises.It has also made outstanding contributions to decreasing CO_(2)emissions.However,the volatility correlation between DFI and CO_(2)emissions is still relatively unexplored.This research uses the spatial autoregressive process with conditional heteroscedastic errors(SARspARCH)model to evaluate the spatial fluctuation spillover impacts of DFI on CO_(2)emissions in 284 Chinese cities covering the period 2011-2016 following the IPAT model.The results indicate that CO_(2)emissions have significant spatial spillover and volatility effects.The fitted value of SARspARCH estimation results is more realistic than the SAR and spARCH model.DFI alleviates average CO_(2)emissions in Chinese cities.Moreover,spatial volatility weakens the negative influence of DFI on average carbon emissions.This study provides insights from which governments can strengthen inter-regional communication and synergistic emission-reduction capabilities,and promote the digitization of the financial sector to achieve carbon neutrality goals.展开更多
This study examines the effects of digital financial inclusion on non-farm employment of rural labor and the mediating mechanism of innovation and entrepreneurship activity using China Family Panel Studies(CFPS)and th...This study examines the effects of digital financial inclusion on non-farm employment of rural labor and the mediating mechanism of innovation and entrepreneurship activity using China Family Panel Studies(CFPS)and the provincial index of digital financial inclusion.Through the empirical test of the Probit model and mediation effect model,we found that:firstly,digital financial inclusion can promote non-farm employment of rural labor,with the level of digitalization having the most significant impact;secondly,by encouraging innovation and entrepreneurial activity,digital financial inclusion can promote non-farm employment of rural labor;thirdly,the driving effect of digital financial inclusion on non-farm employment of rural labor is more pronounced among the unmarried,eastern region,and male labor.Therefore,we should improve the construction of rural digital infrastructure and accelerate the development of inclusive rural finance to promote more diversified non-farm employment options for“disadvantaged groups”;encourage and support innovation at the government level,and create a favorable atmosphere for innovation and entrepreneurship.Simultaneously,farmers’digital literacy and financial knowledge should be improved so that more can adopt and take advantage of digital financial inclusion.展开更多
Exclusion from the mainstream financial world is a burden on the poor of many countries.The proliferation of new mobile and online financial services,such as e-banking,money transfers,and payment processing has the po...Exclusion from the mainstream financial world is a burden on the poor of many countries.The proliferation of new mobile and online financial services,such as e-banking,money transfers,and payment processing has the potential to provide access to basic financial products and services to financially excluded people.The purpose of this study was to investigate the effects of the growth of mobile phone and Internet use on financial inclusion in the South Asian Association for Regional Cooperation(SAARC)countries from 2004 to 2014.We applied principal component analysis to construct a financial inclusion index that served as a proxy variable for the accessibility of financial services in the SAARC countries.Using three different models-the fixed effect,random effect,and panel correction standard errors modelsthis study discovered a positive and significant relationship between the growth of financial inclusion and expansion of both mobile phone and Internet services.Moreover,an empirical study of the control variables showed that the levels of income and education were positively associated with financial inclusion,whereas the size of the rural population and unemployment were negatively related to financial inclusion.In addition,the empirical estimates posit a unidirectional causal flow from the growth of mobile and Internet services to expanded financial inclusion in the SAARC countries.展开更多
Financial inclusion has become an important development strategy in many countries,and related research is increasing.Financial inclusion in China has had significant progress recently.It has gradually formed a unique...Financial inclusion has become an important development strategy in many countries,and related research is increasing.Financial inclusion in China has had significant progress recently.It has gradually formed a unique and sustainable development path with supporting policies and regulations as well as rapid development and application of digital technology.While challenges remain,the experience of Chinese financial inclusion provides valuable lessons and research directions for policymakers and researchers.展开更多
In this paper,we investigate the effect of digital financial inclusion(DFI)on household consumption smoothing in China.We use four waves of the biennial China Family Panel Studies from 2010 to 2016,during which time D...In this paper,we investigate the effect of digital financial inclusion(DFI)on household consumption smoothing in China.We use four waves of the biennial China Family Panel Studies from 2010 to 2016,during which time DFI has significantly developed alongside financial technology across China.We split household income shocks into permanent and transitory components,and evaluate if DFI may help households to buffer against these shocks.We find that households are not able to insure against permanent shocks to income,but they can smooth approximately 70 percent of transitory shocks to income.We also find that DFI has diminished households'ability to insure against transitory income shocks.This is partly because online purchase may lead to the oversensitivity of consumption to income.In addition,we find that contrary to DFI,traditional financial sector development contributes to better household consumption smoothing against transitory income shocks.展开更多
The correlation between technological innovation,economic growth,renewable energy,and ecological footprint carries significant policy implications for environmental sustainability.Furthermore,financial inclusion can d...The correlation between technological innovation,economic growth,renewable energy,and ecological footprint carries significant policy implications for environmental sustainability.Furthermore,financial inclusion can drastically affect the technology-climate nexus across different countries and its moderating impacts have received sufficient attention.To do this,this study examined how technological innovation,financial inclusion,economic growth,and renewable energy affected emerging economies’ecological footprint from 1990 to 2019.Additionally,this study also scrutinizes the moderating role of financial inclusion with other regressors on ecological footprint.To account for structural shifts,disguised cointegration,and numerous breaks in panel regression,this study applies advanced panel estimation methods for empirical analysis.The estimated outcomes exhibit that the influence of technical innovation,climate technologies,and renewable energy significantly reduces the ecological footprint levels.Besides,economic growth and financial inclusion significantly increase the ecological footprint levels in the emerging economies.Furthermore,the integration of innovative technology and renewable energy in emerging countries mitigates the adverse effects of financial inclusion by making it easier for creative technologies and reducing ecological footprints.These results show that emerging countries’innovative technology and renewable energy sources should be integrated with financial inclusion to enable longterm mitigation of environmental damages and sustainable growth.Based on these estimated findings,the research recommends that emerging economies should hasten technological innovations along with stronger financial development to curtail ecological concerns without hindering the pace of sustainable economic growth.展开更多
Recognizing the role of society in the sustainability of payment system innovation through the quadruple helix framework,this study analyzes the causal influence of demand-side financial inclusion indicators on societ...Recognizing the role of society in the sustainability of payment system innovation through the quadruple helix framework,this study analyzes the causal influence of demand-side financial inclusion indicators on society's uptake of digital payment solutions(DPS)within the regional economy of the Gulf Cooperation Council.To this end,the present study relies on data extracted from Global Findex surveys(in 2014 and 2017),as well as the economic theory of random utility maximization,to model individuals'DPS uptake decisions“ceteris paribus.”The maximum likelihood estimation revealed no gender-based gradient in DPS uptake behaviors;additionally,financial inclusion indicators such as transaction account ownership and debit card ownership did not significantly influence endogenous or exogenous DPS uptake decisions between 2013 and 2017.However,all remaining financial inclusion indicators did significantly influence DPS uptake.Assessing these findings through the lens of open innovation and the ongoing efforts from the Arab Regional Payment System project,which seeks to expand financial inclusion by facilitating access to transaction accounts,there is reasonable evidence to suggest that complementary financial inclusion policies addressing the use dimension of DPS(i.e.,extending access to saving and borrowing,along with digital payroll practices for both private and public enterprises)would contribute to more effective policy on financial inclusion in the region.展开更多
In light of China's generally backward agricultural mechanization levels,it becomes crucial to shore up this weak link with endogenous driving force.The digital financial inclusion offers a approach to addressing ...In light of China's generally backward agricultural mechanization levels,it becomes crucial to shore up this weak link with endogenous driving force.The digital financial inclusion offers a approach to addressing the challenges related to agricultural mechanization.This study,collecting data from 1,869 counties and using the Spatial Autoregressive Model with Spatial Autoregressive Disturbances(SARAR model),analyzes the equilibrium and disequilibrium effects of digital financial inclusion on agricultural mechanization,as well as the mechanisms through which digital financial inclusion operates.The findings indicate that both digital financial inclusion and agricultural mechanization exhibittspatialspillovereffects.The development of digital financial inclusion emerges as a significant driver for promoting agricultural mechanization.Furthermore,the impact of digital financial inclusion on agricultural mechanization varies based on the level of agricultural economic development,with counties characterized by less developed agriculture,plain topography,and strong agricultural sectors benefiting more from digital financial inclusion.Additionally,digital financial inclusionini directlyboosts agricultural mechanizationby increasing farmers income and encouraging investment in fixed assets.Therefore,it is crucial to harness the benefits brought by the development of digital financial inclusion while promoting agricultural mechanization,and regions should tailor their approaches to promote digital financial inclusion development according to their local conditions.展开更多
With the rapid development of fintech as represented by the internet,artificial intelligence,blockchain,cloud computing and big data,especially the evolution of big data and deep learning,and the major changes in fina...With the rapid development of fintech as represented by the internet,artificial intelligence,blockchain,cloud computing and big data,especially the evolution of big data and deep learning,and the major changes in financial service models and products in recent years,the development of global inclusive finance has undergone different stages,from“micro finance,”through“inclusive finance,”to“digital financial inclusion.”In the context of growing global competition in the financial sector,many countries are promoting digital financial inclusion and formulating applicable national development strategies.Therefore,it is suggested that China should further strengthen support policies,increase its influence on global financial governance,construct a long-term regulatory mechanism for digital financial inclusion,and build digital inclusive financial infrastructure in order to improve the international competitiveness of China’s financial industry.展开更多
In the contemporary global landscape,understanding the nexus between financial inclusion and natural resource abundance is crucial,especially for resource-rich nations.This study uses diagnostic tests and method of mo...In the contemporary global landscape,understanding the nexus between financial inclusion and natural resource abundance is crucial,especially for resource-rich nations.This study uses diagnostic tests and method of moments quantile regression to examines this interplay across Australia,Brazil,Canada,China,India,Russia,and the United States.We find that achieving financial inclusion is significantly challenging for countries that heavily rely on natural resources.Diversified income sources and equitable wealth distribution are essential to mitigate these challenges.Additionally,we identify a positive correlation between economic development and financial inclusion,highlighting the mutually reinforcing relationship between growth and inclusivity.Our research also reveals a notable link between adopting renewable energy and improving financial inclusion,suggesting that environmental responsibility and financial accessibility are intertwined.Foreign direct investment has nuanced impacts on financial inclusion,adding depth to our understanding.Overall,stable income from natural resources and diversified economic development emerge as key promoters of financial inclusion.These insights advocate for regionally specific policies and lay a solid foundation for future research and informed policymaking that address financial inclusion challenges and advance sustainable development.展开更多
Inclusive finance is a core concept of finance that makes various financial products and services accessible and affordable to all individuals and businesses,especially those excluded from the formal financial system....Inclusive finance is a core concept of finance that makes various financial products and services accessible and affordable to all individuals and businesses,especially those excluded from the formal financial system.One of the leading forces affecting people’s ability to access financial services in rural areas is financial literacy.This study investigated the impacts of financial knowledge on financial access through banking,microfinance,and fintech access using the Bangladesh rural population data.We employed three econometrics models:logistic regression,probit regression,and complementary log–log regression to examine whether financial literacy significantly affects removing the barriers that prevent people from participating and using financial services to improve their lives.The empirical findings showed that knowledge regarding various financial services factors had significant impacts on getting financial access.Some variables such as profession,income level,knowledge regarding depositing and withdrawing money,and knowledge regarding interest rate highly affected the overall access to finance.The study’s results provide valuable recommendations for the policymaker to improve financial inclusion in the developing country context.A comprehensive and long-term education program should be delivered broadly to the rural population to make a big stride in financial inclusion,a key driver of poverty reduction and prosperity boosting.展开更多
Inclusive finance is intended to address the barriers posed by financial exclusion to economic development. Therefore, an effective inclusive financial system must be designed to address financial exclusion rather tha...Inclusive finance is intended to address the barriers posed by financial exclusion to economic development. Therefore, an effective inclusive financial system must be designed to address financial exclusion rather than to provide long-term policy subsidies for financial relief. Financial exclusion in China has causes in economic development strategy, financial institutional arrangement, financial market structure, dominance of social relations, and constraints of risk evaluation. Eliminating financial exclusion and increasing financial inclusion essentially requires that our financial system be equipped with those functions through policy adjustment, institutional innovation and improvement of market rules. Existing bottlenecks of financial risk management should be eliminated to provide fair opportunities of financing for projects that contribute to social development with limited deviations from traditional credit costs. Inclusive finance is sometimes confused with policy subsidies, financial assistance and poverty relief loans, which cannot reflect efficiency, fairness and inclusion as the essential attributes of inclusive finance. The existing financial system must be adjusted to enhance risk management performance and advance financial market stratification and competition by creating fair and efficient legal and credit systems.展开更多
By recognizing the gap in the literature in examining the effects of financial resources and development outcomes at the household level,this paper examines whether the poorest income quintile would benefit most from ...By recognizing the gap in the literature in examining the effects of financial resources and development outcomes at the household level,this paper examines whether the poorest income quintile would benefit most from programs aimed at increasing their access to financial services in rural northern Nigeria.Most households from this part of the world consist of farmers and,hence,are exposed to the vagaries of climate change.The data from 320 questionnaires administered in two rural communities(Rijau and Fakai)were analyzed using an ordered logit regression model.The results showed that access to financial services by using formal financial institutions and farmer savings clubs benefits vulnerable farmers(mostly women).The robustness check using the Brant test also confirmed that the parallel regression assumption of the model was not violated.A policy scenario that seeks to increase the delivery of financial services to rural farm households using community savings clubs and microfinance institution reforms for reaching the financially underserved was also found to benefit the poorest income quintile,hence,bringing them out of poverty.展开更多
The paper analyzes the relationship between remittances and financial development using Kenyan quarterly data from 2006 to 2016.Five different indicators of financial development are used:credit to the private sector ...The paper analyzes the relationship between remittances and financial development using Kenyan quarterly data from 2006 to 2016.Five different indicators of financial development are used:credit to the private sector as a share of GDP,the number of mobile transactions,the value of these mobile transactions,the number of mobile agents,and the number of bank accounts.The results from using an autoregressive distributed lag demonstrate a strong,positive relationship between remittances and financial development in long-run equations.This suggests that higher levels of remittances provide opportunities for recipients to open bank accounts,enhance their savings,and access financial systems,in addition to exposing the previously unbanked to both new and existing financial products.The results also confirm the potential advantage of embracing modern and advanced technology to facilitate international mobile transfers.Using international remittance transfers through mobile technology reduces costs by eliminating the need for physical branches and personnel to attend to walk-in customers.Aside from offering convenience and safety for remittance actors,this method also dominates traditional remittance business models.Therefore,a policy window exists for the government to leverage on remittances as a tool of financial inclusion and depth,and particularly through the continued expansion of regulatory space to accommodate the wider use of international mobile remittance transfer channels.Moreover,given the strong,positive relationship between remittances and credit to the private sector as indicated by its share of GDP and number of bank accounts,commercial banks and other players in the remittance market may also find it useful to develop customized products for migrants to access their remittances.For example,financial intermediaries can consider providing better deposit interest rates for diaspora deposits compared to deposits made in the local currency.Further,these institutions can allow regular remittance flows to act as collateral for the allocation of credit,among other incentives to tap into the significant potential of money remitted by migrants to Kenya.The study also recommends that the government consider expanding exploitation of diaspora bonds and diaspora savings and credit cooperative societies while drawing lessons from other countries’previous attempts.展开更多
This study assesses the role of mobile money innovations on income inequality and gender inclusion in 42 sub-Saharan African countries from 1980 to 2019 using interactive quantile regressions.It finds that,first,incom...This study assesses the role of mobile money innovations on income inequality and gender inclusion in 42 sub-Saharan African countries from 1980 to 2019 using interactive quantile regressions.It finds that,first,income inequality unconditionally reduces the involvement of women in business and politics.Second,mobile money innovations interact with income inequality to have a positive impact on women in business and politics.Third,the net effects of mobile money innovations on gender inclusion through income inequality are consistently negative.Fourth,as the positive conditional or interactive effects and negative net effects are consistent across the conditional distribution of gender inclusion,thresholds at which mobile money innovations can completely dampen the negative effect of income inequality on gender inclusion are provided.Therefore,policymakers should work toward improving conditions for mobile money innovations.They should also be aware that reducing both income inequality and enhancing mobile money innovations simultaneously leads to more inclusive outcomes in terms of gender inclusion.展开更多
文摘This study employs bibliometric and visualisation techniques to analyse global trends in financial inclusion and the innovative tools that promote it.By examining a multidatabase compilation of 4202 documents sourced from Scopus and Web of Science,the significant role of book chapters in disseminating research in this field is highlighted.Our analysis reveals rapid growth in publications,particularly from China and India,and identifies key influential works and authors.Additionally,it is observed that financial inclusion is approached from a multidisciplinary perspective.The findings of this study also indicate a shift in research focus from traditional concepts such as“housing”and“banking”to“digitalisation”and“sustainability.”Key research trends in financial innovative tools include regulatory frameworks,mobile money,and financial education.The issues discussed in this article seek to contribute to the ongoing dialogue on developing intellectual frameworks withing the financial inclusion literature.They offer valuable insights for policymakers,industry practitioners,and researchers in the fields of financial innovation and inclusion.
文摘This study presents an all-inclusive analysis of the literature on the augmentation of financial inclusion through fintech.Ninety-six papers were selected from the 2951 articles in the Web of Science,Scopus,and EBSCO databases.This study uses bibliometric and content analysis techniques to illuminate the underexplored aspects of fintech’s impact on financial inclusion.Unlike previous studies,this study consolidates a significant amount of the literature on financial inclusion by systematically contextualizing theories and viewpoints from the fintech sector.The key findings include the identification of three main research clusters:(1)the advent of novel services,(2)the transformation of the market landscape,and(3)the roles of stakeholders in the fintech ecosystem.The analysis reveals gaps in the existing research,such as the need for more studies on the tangible impact of fintech on financial inclusion and regulation.This study concludes by highlighting potential directions for future research and emphasizing the importance of policymakers paying greater attention to fintech’s implications for financial inclusion.
基金Ho Chi Minh City Open University,E2021.04.1,Duc Vo。
文摘Financial inclusion has recently emerged as an important pillar for sustainable economic growth,poverty eradication,and social transformation globally.While the effects of institutional quality on financial inclusion have been widely investigated,their long-term effects have largely been underexplored,particularly for the Asia–Pacific region.We are especially interested in these long-term effects because institutional reforms require time for implementation and their impacts on various socioeconomic issues are only gradually observed.This paper has developed a new index of institutional quality for countries in the Asia–Pacific region from 2004 to 2020 using the principal component analysis.We estimate the long-term effects of institutional quality on financial inclusion using long-term estimators,including the augmented mean group and the common correlated effects mean group estimators.In our study,institutional quality is proxied by the new index developed in this paper and then by each of the five fundamental aspects of institutional quality:(i)business freedom,(ii)regulatory quality,(iii)investment freedom,(iv)government effectiveness,and(v)the rule of law.We find that improved institutional quality is fundamental to achieving financial inclusion in the region.These effects are particularly prominent in high-income countries in the Asia–Pacific region.However,a closer look at these long-term effects reveals that this effect is conditional on the income level.Interestingly,this long-term effect can be established for high-income countries such as Australia and Japan but not for Singapore.In addition,in the case of middle-income countries,the long-term effect can be confirmed for countries such as Malaysia,Indonesia,and the Philippines but not for Thailand and Vietnam.Our results show that institutional reform,albeit very important,should not be considered the only fundamental pillar ensuring financial inclusion,sustainable economic growth,and social transformation in the long run.
基金Under the auspices of National Natural Science Foundation of China (No.42171188)Natural Science Foundation of Guangdong Province (No.2022A1515010992)。
文摘The vigorous development of information and communications technology has accelerated reshaping of the financial industry. The COVID-19 pandemic has further catalyzed the demand for digital financial services. Digital financial inclusion relies on information technology to overcome spatial limitations. In this case, the research question is whether it adheres to the spatial laws governing conventional financial activities. This study uses exploratory spatial data analysis and a geographical detector to elucidate the spatiotemporal characteristics and factors influencing digital financial inclusion at the county level in China(Data don’t include that of Hong Kong, Macao and Taiwan of China) from 2014 to 2020. The research findings indicate: first, China’s county-level digital financial inclusion is generally increasing and exhibits significant spatial autocorrelation. Second, population density, level of traditional financial development, government regulation, and education level are key determinants of China’s county-level digital financial inclusion. Third,policies should be differentiated by region to narrow the spatial gap in digital financial inclusion. The results provide a reference for other developing countries on using digital technology to develop financial inclusion.
基金supported by the National Social Science Foundation of China(Grant No.20VGQ003)the Natural Science Fund of Hunan Province(2022JJ40647).
文摘Digital financial inclusion(DFI)has the advantage of promoting information sharing,reducing transaction costs,and providing microloan platforms for small and medium-sized enterprises.It has also made outstanding contributions to decreasing CO_(2)emissions.However,the volatility correlation between DFI and CO_(2)emissions is still relatively unexplored.This research uses the spatial autoregressive process with conditional heteroscedastic errors(SARspARCH)model to evaluate the spatial fluctuation spillover impacts of DFI on CO_(2)emissions in 284 Chinese cities covering the period 2011-2016 following the IPAT model.The results indicate that CO_(2)emissions have significant spatial spillover and volatility effects.The fitted value of SARspARCH estimation results is more realistic than the SAR and spARCH model.DFI alleviates average CO_(2)emissions in Chinese cities.Moreover,spatial volatility weakens the negative influence of DFI on average carbon emissions.This study provides insights from which governments can strengthen inter-regional communication and synergistic emission-reduction capabilities,and promote the digitization of the financial sector to achieve carbon neutrality goals.
基金Ministry of Education Humanities and Social Science Foundation Youth Project“Micro-Quantification,Action Mechanism and Impact Research on Financialization of Entity Enterprises”[Grant number.19YJC790106]National Social Science Fund“Mechanism Analysis and Optimization Path Research of Digital Finance Supporting the Improvement of development efficiency of SMEs”[Grant number.21BJY047]+1 种基金Science and Technology Research Program of Chongqing Municipal Education Commission of China:“Research on the Mechanism and Path of Green Finance to Promote Poverty Alleviation in Poor areas in Western China”[Grant number.KJQN201900550]Science and Technology Research Program of Chongqing Municipal Education Commission of China:“Research on Financial Efficiency and High-quality Innovation Development from the Perspective of the Innovation Value Chain”[Grant number.KJQN202000540].
文摘This study examines the effects of digital financial inclusion on non-farm employment of rural labor and the mediating mechanism of innovation and entrepreneurship activity using China Family Panel Studies(CFPS)and the provincial index of digital financial inclusion.Through the empirical test of the Probit model and mediation effect model,we found that:firstly,digital financial inclusion can promote non-farm employment of rural labor,with the level of digitalization having the most significant impact;secondly,by encouraging innovation and entrepreneurial activity,digital financial inclusion can promote non-farm employment of rural labor;thirdly,the driving effect of digital financial inclusion on non-farm employment of rural labor is more pronounced among the unmarried,eastern region,and male labor.Therefore,we should improve the construction of rural digital infrastructure and accelerate the development of inclusive rural finance to promote more diversified non-farm employment options for“disadvantaged groups”;encourage and support innovation at the government level,and create a favorable atmosphere for innovation and entrepreneurship.Simultaneously,farmers’digital literacy and financial knowledge should be improved so that more can adopt and take advantage of digital financial inclusion.
基金We would like to express our gratitude to the Ministry of Human Resource Development,Govt.of India,for providing us financial support during this study period.
文摘Exclusion from the mainstream financial world is a burden on the poor of many countries.The proliferation of new mobile and online financial services,such as e-banking,money transfers,and payment processing has the potential to provide access to basic financial products and services to financially excluded people.The purpose of this study was to investigate the effects of the growth of mobile phone and Internet use on financial inclusion in the South Asian Association for Regional Cooperation(SAARC)countries from 2004 to 2014.We applied principal component analysis to construct a financial inclusion index that served as a proxy variable for the accessibility of financial services in the SAARC countries.Using three different models-the fixed effect,random effect,and panel correction standard errors modelsthis study discovered a positive and significant relationship between the growth of financial inclusion and expansion of both mobile phone and Internet services.Moreover,an empirical study of the control variables showed that the levels of income and education were positively associated with financial inclusion,whereas the size of the rural population and unemployment were negatively related to financial inclusion.In addition,the empirical estimates posit a unidirectional causal flow from the growth of mobile and Internet services to expanded financial inclusion in the SAARC countries.
基金This research did not receive any specific grant from funding agencies in the public,commercial,or not-for-profit sectors.
文摘Financial inclusion has become an important development strategy in many countries,and related research is increasing.Financial inclusion in China has had significant progress recently.It has gradually formed a unique and sustainable development path with supporting policies and regulations as well as rapid development and application of digital technology.While challenges remain,the experience of Chinese financial inclusion provides valuable lessons and research directions for policymakers and researchers.
基金Jennifer T.Lai gratefully acknowledges financial support from the National Science Foundation of China(No.71403061)the Fund Projects of Guangdong University of Foreign Studies(Nos.18ZD01 and HW2018012)the Foundation of Southern China Institute of Fortune Management Research.Xingjian Yi gratefully acknowledges financial support from the National Social Science Foundation of China(No.15ZDA013).
文摘In this paper,we investigate the effect of digital financial inclusion(DFI)on household consumption smoothing in China.We use four waves of the biennial China Family Panel Studies from 2010 to 2016,during which time DFI has significantly developed alongside financial technology across China.We split household income shocks into permanent and transitory components,and evaluate if DFI may help households to buffer against these shocks.We find that households are not able to insure against permanent shocks to income,but they can smooth approximately 70 percent of transitory shocks to income.We also find that DFI has diminished households'ability to insure against transitory income shocks.This is partly because online purchase may lead to the oversensitivity of consumption to income.In addition,we find that contrary to DFI,traditional financial sector development contributes to better household consumption smoothing against transitory income shocks.
文摘The correlation between technological innovation,economic growth,renewable energy,and ecological footprint carries significant policy implications for environmental sustainability.Furthermore,financial inclusion can drastically affect the technology-climate nexus across different countries and its moderating impacts have received sufficient attention.To do this,this study examined how technological innovation,financial inclusion,economic growth,and renewable energy affected emerging economies’ecological footprint from 1990 to 2019.Additionally,this study also scrutinizes the moderating role of financial inclusion with other regressors on ecological footprint.To account for structural shifts,disguised cointegration,and numerous breaks in panel regression,this study applies advanced panel estimation methods for empirical analysis.The estimated outcomes exhibit that the influence of technical innovation,climate technologies,and renewable energy significantly reduces the ecological footprint levels.Besides,economic growth and financial inclusion significantly increase the ecological footprint levels in the emerging economies.Furthermore,the integration of innovative technology and renewable energy in emerging countries mitigates the adverse effects of financial inclusion by making it easier for creative technologies and reducing ecological footprints.These results show that emerging countries’innovative technology and renewable energy sources should be integrated with financial inclusion to enable longterm mitigation of environmental damages and sustainable growth.Based on these estimated findings,the research recommends that emerging economies should hasten technological innovations along with stronger financial development to curtail ecological concerns without hindering the pace of sustainable economic growth.
文摘Recognizing the role of society in the sustainability of payment system innovation through the quadruple helix framework,this study analyzes the causal influence of demand-side financial inclusion indicators on society's uptake of digital payment solutions(DPS)within the regional economy of the Gulf Cooperation Council.To this end,the present study relies on data extracted from Global Findex surveys(in 2014 and 2017),as well as the economic theory of random utility maximization,to model individuals'DPS uptake decisions“ceteris paribus.”The maximum likelihood estimation revealed no gender-based gradient in DPS uptake behaviors;additionally,financial inclusion indicators such as transaction account ownership and debit card ownership did not significantly influence endogenous or exogenous DPS uptake decisions between 2013 and 2017.However,all remaining financial inclusion indicators did significantly influence DPS uptake.Assessing these findings through the lens of open innovation and the ongoing efforts from the Arab Regional Payment System project,which seeks to expand financial inclusion by facilitating access to transaction accounts,there is reasonable evidence to suggest that complementary financial inclusion policies addressing the use dimension of DPS(i.e.,extending access to saving and borrowing,along with digital payroll practices for both private and public enterprises)would contribute to more effective policy on financial inclusion in the region.
基金"Mechanism and Policy Optimization of Digital Finance on the Release of County Structure Dividends in Shandong Province"(No.20CSDJ48)special project supported by the Shandong Social Science Planning:Digital Shandong Research Project+3 种基金the"Research on the Impact Mechanism and Optimization Path of High Standard Farmland Construction on Agricultural Land Efficiency"(No.202102063)a postdoctoral innovation project in Shandong Provinceand the"Research on the Implementation Effect and Mechanism of High Standard Farmland Construction:From the Perspective of Agricultural Land Efficiency"(No.QDSKL2101025)a program supported by the Qingdao Philosophy and Social Science Planning Project.
文摘In light of China's generally backward agricultural mechanization levels,it becomes crucial to shore up this weak link with endogenous driving force.The digital financial inclusion offers a approach to addressing the challenges related to agricultural mechanization.This study,collecting data from 1,869 counties and using the Spatial Autoregressive Model with Spatial Autoregressive Disturbances(SARAR model),analyzes the equilibrium and disequilibrium effects of digital financial inclusion on agricultural mechanization,as well as the mechanisms through which digital financial inclusion operates.The findings indicate that both digital financial inclusion and agricultural mechanization exhibittspatialspillovereffects.The development of digital financial inclusion emerges as a significant driver for promoting agricultural mechanization.Furthermore,the impact of digital financial inclusion on agricultural mechanization varies based on the level of agricultural economic development,with counties characterized by less developed agriculture,plain topography,and strong agricultural sectors benefiting more from digital financial inclusion.Additionally,digital financial inclusionini directlyboosts agricultural mechanizationby increasing farmers income and encouraging investment in fixed assets.Therefore,it is crucial to harness the benefits brought by the development of digital financial inclusion while promoting agricultural mechanization,and regions should tailor their approaches to promote digital financial inclusion development according to their local conditions.
基金This paper is supported by the Key Program of National Social Science Foundation of China(No.13AJY018)the Program of National Social Science Foundation of China(No.16BFX098).
文摘With the rapid development of fintech as represented by the internet,artificial intelligence,blockchain,cloud computing and big data,especially the evolution of big data and deep learning,and the major changes in financial service models and products in recent years,the development of global inclusive finance has undergone different stages,from“micro finance,”through“inclusive finance,”to“digital financial inclusion.”In the context of growing global competition in the financial sector,many countries are promoting digital financial inclusion and formulating applicable national development strategies.Therefore,it is suggested that China should further strengthen support policies,increase its influence on global financial governance,construct a long-term regulatory mechanism for digital financial inclusion,and build digital inclusive financial infrastructure in order to improve the international competitiveness of China’s financial industry.
基金supported by the grant from National Social Science Fund of China(23BJY085).
文摘In the contemporary global landscape,understanding the nexus between financial inclusion and natural resource abundance is crucial,especially for resource-rich nations.This study uses diagnostic tests and method of moments quantile regression to examines this interplay across Australia,Brazil,Canada,China,India,Russia,and the United States.We find that achieving financial inclusion is significantly challenging for countries that heavily rely on natural resources.Diversified income sources and equitable wealth distribution are essential to mitigate these challenges.Additionally,we identify a positive correlation between economic development and financial inclusion,highlighting the mutually reinforcing relationship between growth and inclusivity.Our research also reveals a notable link between adopting renewable energy and improving financial inclusion,suggesting that environmental responsibility and financial accessibility are intertwined.Foreign direct investment has nuanced impacts on financial inclusion,adding depth to our understanding.Overall,stable income from natural resources and diversified economic development emerge as key promoters of financial inclusion.These insights advocate for regionally specific policies and lay a solid foundation for future research and informed policymaking that address financial inclusion challenges and advance sustainable development.
文摘Inclusive finance is a core concept of finance that makes various financial products and services accessible and affordable to all individuals and businesses,especially those excluded from the formal financial system.One of the leading forces affecting people’s ability to access financial services in rural areas is financial literacy.This study investigated the impacts of financial knowledge on financial access through banking,microfinance,and fintech access using the Bangladesh rural population data.We employed three econometrics models:logistic regression,probit regression,and complementary log–log regression to examine whether financial literacy significantly affects removing the barriers that prevent people from participating and using financial services to improve their lives.The empirical findings showed that knowledge regarding various financial services factors had significant impacts on getting financial access.Some variables such as profession,income level,knowledge regarding depositing and withdrawing money,and knowledge regarding interest rate highly affected the overall access to finance.The study’s results provide valuable recommendations for the policymaker to improve financial inclusion in the developing country context.A comprehensive and long-term education program should be delivered broadly to the rural population to make a big stride in financial inclusion,a key driver of poverty reduction and prosperity boosting.
基金sponsored by the National Social Science Fund: "A Study on Regional Risk, Appropriate Decentralization and Reform of Local Financial Systems" (Grant No. 14BJY192)
文摘Inclusive finance is intended to address the barriers posed by financial exclusion to economic development. Therefore, an effective inclusive financial system must be designed to address financial exclusion rather than to provide long-term policy subsidies for financial relief. Financial exclusion in China has causes in economic development strategy, financial institutional arrangement, financial market structure, dominance of social relations, and constraints of risk evaluation. Eliminating financial exclusion and increasing financial inclusion essentially requires that our financial system be equipped with those functions through policy adjustment, institutional innovation and improvement of market rules. Existing bottlenecks of financial risk management should be eliminated to provide fair opportunities of financing for projects that contribute to social development with limited deviations from traditional credit costs. Inclusive finance is sometimes confused with policy subsidies, financial assistance and poverty relief loans, which cannot reflect efficiency, fairness and inclusion as the essential attributes of inclusive finance. The existing financial system must be adjusted to enhance risk management performance and advance financial market stratification and competition by creating fair and efficient legal and credit systems.
文摘By recognizing the gap in the literature in examining the effects of financial resources and development outcomes at the household level,this paper examines whether the poorest income quintile would benefit most from programs aimed at increasing their access to financial services in rural northern Nigeria.Most households from this part of the world consist of farmers and,hence,are exposed to the vagaries of climate change.The data from 320 questionnaires administered in two rural communities(Rijau and Fakai)were analyzed using an ordered logit regression model.The results showed that access to financial services by using formal financial institutions and farmer savings clubs benefits vulnerable farmers(mostly women).The robustness check using the Brant test also confirmed that the parallel regression assumption of the model was not violated.A policy scenario that seeks to increase the delivery of financial services to rural farm households using community savings clubs and microfinance institution reforms for reaching the financially underserved was also found to benefit the poorest income quintile,hence,bringing them out of poverty.
文摘The paper analyzes the relationship between remittances and financial development using Kenyan quarterly data from 2006 to 2016.Five different indicators of financial development are used:credit to the private sector as a share of GDP,the number of mobile transactions,the value of these mobile transactions,the number of mobile agents,and the number of bank accounts.The results from using an autoregressive distributed lag demonstrate a strong,positive relationship between remittances and financial development in long-run equations.This suggests that higher levels of remittances provide opportunities for recipients to open bank accounts,enhance their savings,and access financial systems,in addition to exposing the previously unbanked to both new and existing financial products.The results also confirm the potential advantage of embracing modern and advanced technology to facilitate international mobile transfers.Using international remittance transfers through mobile technology reduces costs by eliminating the need for physical branches and personnel to attend to walk-in customers.Aside from offering convenience and safety for remittance actors,this method also dominates traditional remittance business models.Therefore,a policy window exists for the government to leverage on remittances as a tool of financial inclusion and depth,and particularly through the continued expansion of regulatory space to accommodate the wider use of international mobile remittance transfer channels.Moreover,given the strong,positive relationship between remittances and credit to the private sector as indicated by its share of GDP and number of bank accounts,commercial banks and other players in the remittance market may also find it useful to develop customized products for migrants to access their remittances.For example,financial intermediaries can consider providing better deposit interest rates for diaspora deposits compared to deposits made in the local currency.Further,these institutions can allow regular remittance flows to act as collateral for the allocation of credit,among other incentives to tap into the significant potential of money remitted by migrants to Kenya.The study also recommends that the government consider expanding exploitation of diaspora bonds and diaspora savings and credit cooperative societies while drawing lessons from other countries’previous attempts.
文摘This study assesses the role of mobile money innovations on income inequality and gender inclusion in 42 sub-Saharan African countries from 1980 to 2019 using interactive quantile regressions.It finds that,first,income inequality unconditionally reduces the involvement of women in business and politics.Second,mobile money innovations interact with income inequality to have a positive impact on women in business and politics.Third,the net effects of mobile money innovations on gender inclusion through income inequality are consistently negative.Fourth,as the positive conditional or interactive effects and negative net effects are consistent across the conditional distribution of gender inclusion,thresholds at which mobile money innovations can completely dampen the negative effect of income inequality on gender inclusion are provided.Therefore,policymakers should work toward improving conditions for mobile money innovations.They should also be aware that reducing both income inequality and enhancing mobile money innovations simultaneously leads to more inclusive outcomes in terms of gender inclusion.
