UNEARTHING GLOBAL FINANCIAL INCLUSION LEVELS AND ANALYSIS OF FINANCIAL INCLUSION AS A MEDIATING FACTOR IN GLOBAL HUMAN DEVELOPMENT
This study is a result of the author’s inquisition to unearth the current values of Global Financial Inclusion and its relationship with economic growth measured by Gross Domestic product(GDP) and human development measured by United Nations Human Development Index (HDI). The Financial Inclusion...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
University in Belgrade
2015-04-01
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| Series: | Serbian Journal of Management |
| Subjects: | |
| Online Access: | http://www.sjm06.com/SJM%20ISSN1452-4864/10_1_2015_May_1-140/10_1_2015_19_32.pdf |
| Summary: | This study is a result of the author’s inquisition to unearth the current values of Global Financial
Inclusion and its relationship with economic growth measured by Gross Domestic product(GDP) and
human development measured by United Nations Human Development Index (HDI). The Financial
Inclusion (FI) levels are measured using Index for Financial Inclusion .The relationship between
GDP and HDI with FI as mediator, using multiple regression, is validated on a global level based on
data of 162 countries for the year 2011. An overall global mediation analysis is undertaken to
establish Financial Inclusion as a mediating factor and partial mediation on human development is
validated. The study is valid and unique in the global context of income inequality prevailing in
developed, developing and underdeveloped countries as it validates the argument that an impressive
GDP performance does not ensure equity in economic growth. |
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| ISSN: | 1452-4864 2217-7159 |