Relationship between financial inclusion and financial development in India: Is there any link?

Title

Relationship between financial inclusion and financial development in India: Is there any link?

Creator

Lenka S.K.

Description

A dynamic chain of financial activities and services can be served from debtors to creditors in the international economy through an efficient and effective financial sector. The motivation behind this study is to investigate the linkages between financial inclusion and financial development in India during the period (19802017). For this, the study employ principal component analysis (PCA) to construct both financial inclusion index and financial development index which measures financial access and financial depth position respectively. Using a set of determinants related to financial inclusion and financial development, the present study estimates there is a unidirectional relationship between financial inclusion and financial development in India. So, it reveals that financial inclusion is an essential element for financial sector development especially in a developing country like India. 2021 John Wiley & Sons Ltd.

Source

Journal of Public Affairs, Vol-22, No. S1

Date

2022-01-01

Publisher

John Wiley and Sons Ltd

Subject

financial development; financial inclusion; India; principal component analysis

Coverage

Lenka S.K., Department of Economics, School of Social Sciences, CHRIST (Deemed to be University), BGR Campus, Bannerghatta Main Road, Hulimavu, Karnataka, Bengaluru, 560076, India

Rights

Restricted Access

Relation

ISSN: 14723891

Format

Online

Language

English

Type

Article

Identifier

https://doi.org/10.1002/pa.2722

https://www.scopus.com/inward/record.uri?eid=2-s2.0-85111797443&doi=10.1002%2fpa.2722&partnerID=40&md5=1fdea2a30f2922dc560fd8c2d017cc07