Does Financial Inclusion Promote Human Development? Evidence from India-Reference-Cited by-同舟云学术

Does Financial Inclusion Promote Human Development? Evidence from India

Published:2021-10-17 Issue:2 Volume:10 Page:163-184
ISSN:2278-6821
Container-title:Jindal Journal of Business Research
language:en
Short-container-title:Jindal Journal of Business Research

Author:

Arora Neha¹,Kumar Naresh¹

Affiliation:

1. Institute of Management Studies and Research, Maharshi Dayanand University, Rohtak, Haryana, India

Abstract

The present study investigates the relationship between Financial Inclusion Index (FII) and Human Development Index (HDI) of Indian economy. The study developed FII for the Indian economy from 1991 to 2020 by using the dimensions of banking penetration, banking availability and usage of banking services. The well-known techniques of Analytical Hierarchy Process (AHP) and Technique of Preference by Similarity to Ideal Solution (TOPSIS) is used to develop FII. The ARDL bound test confirms the existence of a long-run relationship between financial inclusion and human development. Granger non-causality confirms the existence of bidirectional causality between financial inclusion and human development. As financial inclusion acts as a key for human development, government should adopt policies to speed up the financial inclusion process in India.

Publisher

SAGE Publications

Subject

General Earth and Planetary Sciences

Link

http://journals.sagepub.com/doi/pdf/10.1177/22786821211045180

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