Exploring the mediating role of financial inclusion in the relationship between economic policy uncertainty and CO2 emissions: A global perspective.

This study examines the connection between economic policy uncertainty (EPU), CO2 emissions, and financial inclusion in developed and developing countries. Using the data from 2004 to 2021, advanced statistical techniques are employed, including Sobel test, to explore the mediating effect of financial inclusion on the relationship between economic policy uncertainty (EPU) and CO2 emissions. There is a dearth of research examining these three variables together in a single study. Similarly, using financial inclusion as a mediator in the relation of EPU and CO2 emissions is a novel concept. This article employs a multi-indicator approach to measure key variables like CO2 emissions and financial inclusion. The results indicate that uncertainties in economic policies contribute in practices that lead to higher CO2 emissions in overall panel data of 44 countries. In addition, when considering the relationship between EPU and FI, the results indicate a significant and negative relationship between EPU and FI. If there is uncertainty in economic policies, it may lead toward challenges and hurdles in financial inclusion. When the mediating affect was checked, it was found financial inclusion acts as a significant mediator in the relationship between EPU and CO2 emissions, depicting that financial inclusion fosters the environmental quality and mitigates the potential harmful effects of environmental aspects of economic policy uncertainty. Therefore, policies that promote financial inclusion should be given top priority by governments, particularly in emerging nations. Financial literacy and bank service accessibility should be promoted. These measures would lessen the impact of staggering economic policies on CO2 emissions. It is necessary for policymakers to include environmental factors, specifically those relating to carbon emissions, into economic strategies. This requires encouraging industries to adopt eco-friendly practices and coordinating economic strategies with sustainability objectives.

Evaluating the moderating role of governance on the relationships between social inclusion, ICT infrastructure, and financial inclusion.

In this paper, we examine the Moderating Role of Governance on the Relationships between social inclusion (SI), Information and communication technology infrastructure (ICT), and financial inclusion (FI) in 46 countries representing a global sample span from 2010 to 2020. We collect the data from the IMF's financial access survey and construct a multidimensional FI index. Based on the FI index, we divide the sample into two sub-samples (med-high level and low-level FI countries). For the empirics, we employed panel-corrected standard errors, fully modified ordinary least squares and dynamic ordinary least squares techniques. We find that SI is negatively related to FI. ICT infrastructure positively influences FI. Further, we find that governance with sound ICT infrastructure and socially inclusive communities enhances FI. The findings of sub-samples are similar to the full sample results except for a promoting effect of SI and governance in the case of med-high financially inclusive economies. Moreover, the Interaction term of governance and ICT infrastructure is insignificant in med-high financially inclusive economies and negatively significant in low financially inclusive economies. Our study reports novel findings which have significant implications for policymakers and financial institutions to effectively develop and implement new policies which strengthen the institutional base, develop digital banking infrastructure, enhance SI to boost up FI and ensure sustainable economic growth.

Analyzing the geographic influence of financial inclusion on illicit drug use in Nigeria.

Nigeria grapples with a formidable public health concern, as approximately 14 million individuals partake in illicit drug use (IDU). This predicament significantly impacts psychiatric disorders, suicides, disability, and mortality rates. Despite previous investigations into predictors and remedies, the role of financial inclusion (FI) remains inadequately explored. Leveraging existing literature on FI and population health, this study asserts that bolstering FI could be instrumental in mitigating IDU prevalence in Nigeria. We employ spatial analysis to scrutinize the influence of FI and other social factors on IDU, revealing a 14.4 % national prevalence with spatial variations ranging from 7 % in Jigawa state to 33 % in Lagos state. Significant IDU hotspots were identified in the southwest states, while cold spots were observed in the Federal Capital Territory and Nassarawa. Multivariate spatial analysis indicates that FI, income, unemployment, and the proportion of the young population are pivotal predictors of IDU nationwide, explaining approximately 67 % of the spatial variance. Given these findings, the study advocates heightened levels of FI and underscores the need for intensified government initiatives to prevent and address illicit drug use.

Can digital financial inclusion help reduce migrant workers' overwork? Evidence from China.

Introduction: Migrant workers in China are migrants from the rural to the urban areas who usually work in the cities and return to the countryside after a certain period. Due to China's strict household registration system, they differ significantly from urban residents' access to public services. However, at the same time, China's workers are facing a severe phenomenon of overwork, and the group of migrant workers is even more hard-hit by overwork, which will cause various adverse effects on workers and society and should attract the attention of all sectors of society. Methods: This paper focuses on the impact of digital financial inclusion on the overwork of migrant workers. This study considered cross-sectional data containing 98,047 samples based on the 2017 China Migrants Dynamic Survey 2017 (CMDS) and China Municipal Statistical Yearbook after robustness tests and heterogeneity analysis using probit models. Results: (1) digital financial inclusion can effectively alleviate overwork among migrant workers; (2) the impact of digital finance on overwork is more significant for the new generation, digitized industries, and self-employed migrant workers; it is also more significant for the South, East, and small and medium-sized cities than for the North, the Midwest, and large cities; (3) job quality and income are crucial factors in how digital financial inclusion affects overwork among migrant workers. Digital financial inclusion can improve the quality of employment for migrant workers and alleviate overwork. However, the income substitution effect partially reduces the inhibitory impact of digital financial inclusion on overwork. Conclusion: Continuously promote the development of digital inclusive finance, improve laws and regulations, and protect the labor rights and interests of migrant workers. At the same time, vocational training and skills upgrading for rural migrant workers should be strengthened to improve the quality of their employment so that they can leave the secondary labor market and enter the primary labor market.

Determinants of financial inclusion gaps in Pakistan and implications for achieving SDGs.

This study investigates the determinants of gender disparities in financial inclusion in Pakistan using Global Findex 2021 survey data. We aim to quantify gender gaps in financial access and use, and to analyze the socio-economic factors influencing these disparities. Grounded in Sen's capability approach and behavioral economics, we employ logistic regression to examine how gender influences the ownership and usage of financial products. Our results reveal significant gender gaps: only 13% of Pakistani women have financial accounts compared to 34% of men, with similar disparities in digital finance. Socio-economic variables like education, income, and employment are found to influence financial inclusion differently for men and women. While generally supportive of financial inclusion, these factors have a weaker effect for women, suggesting deeper societal barriers. This study adds to the global financial inclusion discourse by providing a comprehensive analysis of gender disparities in Pakistan. Our findings highlight the need for gender-sensitive policies that address these disparities to achieve Sustainable Development Goals related to gender equality and economic empowerment.

Exploring the convergence of ICT, digital financial inclusion, environmental pressures, and free trade and their significance in driving sustainable green investment initiatives under carbon neutrality targets.

Due to its rapid economic development over the past few decades, China is now at the forefront of environmental issues, necessitating creative solutions that combine ICT, digital financial inclusion, environmental pressure, and free trade to encourage green investment. This study aims to investigate the linkage between ICT, digital financial inclusion, environmental pressure, free trade, and green investment in China from 1996 to 2022 by employing the Partial least squares structural equation modelling (PLS-SEM). As per our results, the statistical values of Cronbach's alpha, composite reliability, and average variance are all above the cutoff point, demonstrating the applicability of this methodology. According to the structural model's results, the path coefficients between digital financial inclusion and green investment, environmental pressure and green investment, and GDP and green investment are positively significant, implying that these three factors are crucial for boosting green investment in China. In addition, our vector autoregressive model results suggest that ICT, digital financial inclusion, environmental pressures, free trade, and GDP cause green investment to rise in China. Thus, the policymakers in China should focus on developing comprehensive policies to encourage green investment in China, which is crucial for economic and environmental sustainability.

Financial inclusion for people with disability: a scoping review.

BACKGROUND: Financial exclusion is a human rights issue affecting health equity. Evidence demonstrates that financial exclusion is exacerbated for people with disability and those in low- to middle-income countries (LMIC). Barriers to financial access include limited demand for services, banking inadequacies in catering to people with disability, and insufficiently accessible information technologies (ICT) and infrastructure. OBJECTIVES: This scoping review sought to identify barriers to and facilitators of financial inclusion for people with disability in LMIC. As a secondary objective, the study explored the potential of financial education and ICT utilisation as viable strategies for enhancing financial inclusion. METHODS: This review utilised the Arksey and O'Malley framework and PRISMA Checklist for systematic literature examination and data extraction. The WHO's Environmental Factors guided the analysis to propose potential interventions and to generate recommendations. RESULTS: The review analysed 26 publications from various global regions and fields including finance, business, technology, health and disability policy. It identified consistent financial inclusion barriers for people with disability, resulting in a set of global recommendations across attitudes, environment, technology, services, and policy. CONCLUSIONS: Recommendations include using ICT, digital innovation and multi-stakeholder collaboration to address the financial barriers experienced by people with disability. These efforts, rooted in social justice, aim to include people with disability in LMIC as valued financial sector participants, promoting health and equity.

Main findings: There are global access barriers and enablers to financial inclusion for people living with disability. Recommendations to improve access include countering stigma and attitudinal barriers, engaging in user centred design of financial services,providing financial education and ensuring accessibility of assistive technology and ICT, along with the physical environment of the bank.Added knowledge: This study reviews the literature and offers a global overview of financial inclusion for people with disabilities, along with recommendations for universally applicable actions to enhance access.Global health impact for policy and action: Identifying barriers to financial inclusion and suggesting strategies to overcome them provides valuable guidance for policymakers and advocates working to improve access to financial services for people with disability.

The role of big data in financial technology toward financial inclusion.

In the rapidly evolving landscape of financial technology (FinTech), big data stands as a cornerstone, driving significant transformations. This study delves into the pivotal role of big data in FinTech and its implications for financial inclusion. Employing a comprehensive literature review methodology, we analyze diverse sources including academic journals, industry reports, and online articles. Our findings illuminate how big data catalyzes the development of novel financial products and services, enhances risk management, and boosts operational efficiency, thereby fostering financial inclusion. Particularly, big data's capability to offer insightful customer behavior analytics is highlighted as a key driver for creating inclusive financial services. However, challenges such as data privacy and security, and the need for ethical algorithmic practices are also identified. This research contributes valuable insights for policymakers, regulators, and industry practitioners, suggesting a need for balanced regulatory frameworks to harness big data's potential ethically and responsibly. The outcomes of this study underscore the transformative power of big data in FinTech, indicating a pathway toward a more inclusive financial ecosystem.

Financial inclusion and improved water usage among households in Ghana.

BACKGROUND: In Ghana, about 76% of households are at risk of drinking water polluted with faecal matter, hence, poor sanitation and unsafe water are responsible for 80% of all diseases in the country. Given this, some studies have been carried out concerning the factors that determine access and use of improved water among households in Ghana. However, although financial inclusion can make it easy for households to afford and hence, use improved water, it has received very little attention. This study, thus, examines the effect of financial inclusion on the use of improved water among households in Ghana. METHODS: The Ghana Living Standards Survey round 7 (GLSS7) is used as the data source while the binary logit regression is employed as the main empirical estimation technique. RESULTS: The results show that households with financial inclusion (employing an indicator which has not been disaggregated into formal and informal financial inclusion) have a higher likelihood of using improved water sources relative to those without financial inclusion. The results are robust using formal financial inclusion as well as a combined index of financial inclusion. CONCLUSION: Enhancing financial inclusion, especially formal financial inclusion can be utilised as a major policy instrument towards increasing access and use of improved water sources among households in Ghana.

Digital financial inclusion and upgrading of consumption structure: Evidence from rural China.

Based on the perspective of spatial economy, this paper focuses on the primary effects and spatial characteristics of Digital Financial Inclusion (DFI) on the upgrading of rural consumption structure (URCS) in China, conducting a literature review and theoretical analysis. It then uses statistical data collected over the years and the Digital Financial Inclusion Index (DFII) of Peking University to prepare panel data for 31 provinces in China (aside from Hong Kong, Macao, and Taiwan) from 2011 to 2020 for empirical testing. The results are as follows: DFI can considerably boost URCS, and there is a strong spatial neighbor impact, that is, it is affected by random shocks in surrounding provinces via its spatial effect; DFI has nonlinear characteristics in the process of fostering URCS, with the threshold variables of income level and family sizes; the impact of DFI on URCS is spatially heterogeneous, and the promotion of the eastern region is better than other zones. These results can inform policymakers about rural development and provide valuable references to push forward rural vitalization.

Linking to the development of economic growth with digital financial inclusion and supply chain management in China.

Much research demonstrates the positive effects of financial inclusion and digital finance on expansion. Supply chains that can be relied upon are essential to national productivity and economic development. This study uses panel data from 2007 to 2022 covering 27 provinces in China to study the results of widespread access to digital financial services and supply chain management on regional economic growth using the instrumental variable approach (fixed effect model). In contrast to earlier research, this study employs an alternative measure of access to digital financial services utilization and digitalization. The data demonstrates that digital financial inclusion and supply chain management have a major impact on the development of the provincial economies in China. Based on the results of this research, we suggest increasing digital financial inclusion and bolstering human capital development to stimulate economic expansion. This essay makes a theoretical advancement in studying digital technology's widespread adoption of financial services by providing a comprehensive critical review and a fresh angle on the nuts and bolts of digital money and universal banking. Boosting institutional quality and governance are two more paths that authorities can take to stimulate economic expansion in the China area, and the results show how important these measures are for achieving this goal.

Residential energy expenditures and the relevance of financial inclusion across location, wealth quintiles and household structures.

This paper examines the relative role of financial inclusion in enhancing households' ability to spend on energy consumption across rural and urban locations. It uses comprehensive household data from Ghana and employs the ordinary least square (OLS) as well as an instrumental variable estimation technique. Endogeneity of financial inclusion is instrumented using distance to the nearest bank. Our findings suggest that a standard deviation increase in financial inclusion contributes to an improvement in residential energy expenditure by 1.2835 standard deviations. This finding is robust to different methods for resolving endogeneity and alternative weighting schemes in the financial inclusion construct. Among the different sources of energy for lighting and cooking, financial inclusion increases expenditure on LPG and electricity more than the others. Financial inclusion increases the ability to spend more on residential energy in urban, poorest, and female-headed dual-parent households. Household net income is a key pathway through which financial inclusion affects residential energy expenditure.

Does culture empower inclusive finance? Empirical investigation into small business in Cameroon.

The issue of culture is becoming ever more interesting, especially when interconnected with other business factors like finance. Although intriguing, the relationship between culture and finance has long been neglected. Unlike existing research, this article aims at assessing the impact of culture on financial inclusion and financial literacy among Cameroonian small business managers. In this quantitative investigation, the indices are built using Principal Component Analysis (PCA), and the estimation is done using Ordinary Least Squares (OLS). The data used is from a research survey on 161 small enterprises in the cities of Douala, Bafoussam, Foumban, Foumbot, and Dschang. The findings demonstrate that organizational culture, in contrast to its social component, is positively and strongly associated with financial literacy and financial inclusion. Additionally, firm and manager variables like age, turnover variation, and education level significantly explain these financial variables. Thus, it is essential to promote organizational culture in Cameroonian businesses.

Examining the influence of financial inclusion on investment decision: A bibliometric review.

This study delves into the contemporary landscape of potential financial inclusion in investment decision-making, leveraging bibliometric research methods. Analyzing 161 publications from the Scopus database (2006-2023), the authors employ performance analysis and scientific mapping tools, including VOSviewer and Biblioshiny R studio. Through co-citation analysis, bibliographic coupling, co-occurrence of keywords analysis, thematic mapping, and thematic evolution analysis, the study uncovers the essential characteristics of the research field. The Result underscores that Innovative financial technologies are positioned as enablers of financial inclusion, with fintech's potential to drive positive social impact. The findings underscore that fostering financial literacy, addressing challenges in fintech adoption, and supporting entrepreneurship are crucial for maximizing the benefits of financial technologies. Overall, the study advocates for a comprehensive approach that combines financial inclusion, individual attitudes, and expertise, and fintech innovation to enhance access to financial services and expand investment opportunities for a more inclusive and prosperous economic landscape. However, the study acknowledges limitations, such as reliance on a single database and exclusion of specific keywords, urging a more inclusive approach to ensure a comprehensive understanding of relevant literature in this dynamic field.

Mitigating role of financial inclusion on the perceived difficulties, concerns, and borrowing for medical expenses in Saudi Arabia.

Access to convenient quality healthcare at all times is considered a basic human right; however, many countries are still striving to achieve this goal for their populations. The persistent rise in healthcare expenditure remains a significant obstacle in achieving universal health coverage on a global scale. The aim of this study was to investigate the role of financial inclusion in addressing the financial hardship related to health and medical expense concerns in the Kingdom of Saudi Arabia. Probit models were applied to analyse nationally representative data from the Global Financial Inclusion (Global Findex) database. The results showed that financial inclusion had a significant impact on reducing the hardship associated with obtaining money for emergency expenses within 30 days as indicated by a significant coefficient of -0.262. Additionally, Financial inclusion substantially increases the likelihood of borrowing money for health or medical purposes in the past 12 months, with a coefficient of 0.585. Moreover, correlations were identified between low income levels and decreased likelihood of borrowing for health/medical purposes, increased difficulty in obtaining money for emergency expenses, and heightened concern regarding the ability to afford medical costs in the event of serious illness or accidents. These findings highlight the need for policy makers and health providers to prioritize financial inclusion and support programs for low-income individuals to achieve equity in health treatment for all in Saudi Arabia.

Financial inclusion, environmental degradation, and the moderating role of ICT: a global perspective.

This study aims to investigate the global perspective on the relationship between financial inclusion and environmental degradation, taking into account the potential moderating role of information and communication technology (ICT). The research utilizes panel data from 131 countries, covering the period of 1995 to 2019. The findings show that financial inclusion has significant and positive impact on carbon emissions, implying that as financial inclusion increases, so do carbon emissions. Moreover, our findings reveal a significant negative moderating effect of the ICT on the relationship between financial inclusion and carbon emissions. This implies that the impact of financial inclusion on carbon emissions is contingent upon the level of ICT development. The robustness of these findings is confirmed through the use of alternative proxies for the explanatory and moderating variables, as well as alternative estimation methods. The outcomes of this study carry significant implications for both policy and practice.

Examination of the factors contributing to environmental degradation: does LPG consumption still matter?

Liquefied petroleum gas (LPG) is one of the energy resources that deserve to be qualified as a transition fuel for developing countries that cannot abandon their dependence on non-renewable energy use and adopt renewable alternatives. The current study examines how environmental degradation is affected by financial development, LPG use, and economic growth in the BRICS-T countries (Brazil, Russia, India, China, South Africa, and Turkiye) in the period of 1993-2018. For this purpose, four models were tested with Pedroni, Kao, PMG Panel ARDL cointegration and Dumitrescu-Hurlin causality methods. The results show that LPG consumption has a positive effect on the ecological footprint and an adverse influence on the CO2 emission of BRICS - T countries. The financial institutions exhibited to have a positive and significant impact on ecology. Economic growth displayed negative effects on environmental degradation and a positive influence on CO2. Additionally, there is significant evidence for the validity of the EKC hypothesis. Unidirectional causality exists between ecological footprint, LPG, financial market, and economic growth. The financial institution index shows bidirectional causality with the ecological footprint. There is also unidirectional causality between ecological footprint, LPG, financial market, and economic growth. Furthermore, the financial institutions' index shows a bidirectional causality with the ecological footprint. Also, economic development and financial institution index have a bidirectional relationship with CO2 emissions. On the other hand, the financial market index showed unidirectional causality with CO2 emissions. In short, our study highlights the need for a comprehensive and integrated approach to sustainable development in BRICS - T countries. Policymakers must balance economic growth with environmental protection and consider the potential trade-offs between policy options to promote sustainable and inclusive development.

Women's financial literacy: A bibliometric study on current research and future directions.

This study undertakes a bibliometric and content analysis on women's financial literacy. The purpose of a bibliometric research on financial literacy and women is to carefully evaluate and quantify the body of literature on this subject. It attempts to identify trends, research gaps, significant authors, and essential ideas, offering a thorough overview that might direct future research and policy activities to increase women's financial literacy and well-being. The data extraction commenced in January 2023 with a thorough criteria search for articles, which includes inclusion and exclusion criteria using Web of Science Core database, resulting in 312 articles, published between 1998 and 2022. Biblioshiny application as well as the VOSviewer software for network visualization of keywords and bibliographic coupling is used. Based on the outcomes of the scientific bibliographic coupling, dominant themes were identified - "Global Financial Literacy: Addressing Disparities and Enhancing Education", "Addressing gender gap in financial inclusion and personal finance behaviour", "Empowerment through Financial Literacy: Overcoming the Manacles of Domestic Violence" and "Women's retirement planning and preparedness". Future research in this area could examine global gender differences in financial literacy, implement targeted financial education interventions, incorporate financial literacy and economic empowerment into domestic violence policies, investigate factors influencing women's retirement planning, and advance gender equality and financial well-being globally. The outcome from the future research is anticipated to assist regulatory bodies, government agencies and non-profit organization in enhancing existing regulations (specifically for women) and provide the platform for a sustainable wealth management and well-being program for women.

Digital financial inclusion, environmental quality, and economic development: the contributions of financial development and investments in OECD countries.

Economic development has long acknowledged the significance of financial innovation and technological advancement. Communication technology increases the availability of information, generates new modes of communication, restructures production processes, and enhances the efficacy of a wide range of economic operations. This study investigates the effects of digital financial inclusion and information and communication technology (ICT) on economic growth in 38 OECD nations between 2004 and 2020, with a focus on the contributions of financial development and investments in non-financial assets. To this end, advanced econometric methodologies are employed to conduct an exhaustive empirical analysis utilizing second-generation panel unit root and cointegration techniques. The results demonstrate a positive correlation between digital financial inclusion, information and communication technology, population growth, and non-financial investments in OECD nations. It is recommended that OECD policymakers promote digital financial inclusion by utilizing cost-effective digital technologies to reach currently financially excluded and underserved populations. This can be achieved through a variety of formal financial services that are tailored to their needs and responsibly delivered at a cost that is affordable to customers and sustainable for providers. Moreover, policymakers are recommended to promote information and communication technologies that strengthen the means for implementing Sustainable Development Goals through international cooperation and coordination, technology transfer, capacity building, strengthening multi-stakeholder partnerships, and data monitoring and accountability. Finally, a detailed conclusion is provided to discuss the research limitations and future directions.

Rural areas development and pro-environmental behavior in China: implications for rural development and planning.

This research adds to the body of knowledge by examining the asymmetric link between rural development and pro-environmental behavior in rural China. Rural development is assessed via rural income and digital financial inclusion. We use linear and nonlinear autoregressive distributed lag (ARDL) models to assess short- and long-term effects. The linear analysis suggests that a rise in rural income and digital financial inclusion encourages long-term access to clean fuels and technologies (CFT) in rural areas, while they do not have any significant impact in the short run. On the other side, the nonlinear framework illustrates that a positive shock in rural income and digital financial inclusion encourages long-term access to CFT in rural areas. A negative shock in rural income reduces long-term access to CFT in rural areas, and a negative shock in digital financial inclusion does not significantly impact access to CFT. However, in the short run, only the estimates of rural income are significant, while the estimates attached to digital financial inclusion are insignificant, implying that a rise in rural income increases access to CFT and a fall in rural income reduces access to CFT. Thus, government should encourage collaboration between private sector and civil society organizations to promote sustainable rural development and pro-environmental behavior.