Finance

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

  • Shehu, A. Y. Promoting financial inclusion for effective anti-money laundering and counter financing of terrorism (AML/CFT). Crime Law Soc. Change 57(3), 305–323 (2012).

    Article 

    Google Scholar
     

  • Cnaan, R. A., Moodithaya, M. S. & Handy, F. Financial inclusion: Lessons from Rural South India. J. Soc. Policy 41(1), 183–205 (2012).

    Article 

    Google Scholar
     

  • Iqbal, Z., Mirakhor, A., Islam’s perspective on financial inclusion. In EconomicDevelopment and lslamic Finance, Directions in Development (eds Iqbal Z. & Mirakhor, A.) 179–202 (World Bank, 2013).

  • Manjunath, G., Rao, C. R., The extent of financial exclusion and financial inclusion initiatives in India. Adarsh Bus. Rev., 2(1), 1–9 (2015).

  • Allen, F., Demirguc-Kunt, A., Klapper, L. & Martinez Peria, M. S. The foundations of financial inclusion: Understanding ownership and use of formal accounts. J. Financ. Intermed. 27, 1–30 (2016).

    Article 

    Google Scholar
     

  • Singh, N., Financial inclusion: Concepts, issues and policies for India. SSRN Electron. J., https://ssrn.com/abstract=3307903 (2018).

  • Anufriieva, K. & Shkliar, A. Financial inclusion as a factor for socio-economic development. Ukr. Soc. 2019(3), 59–77 (2019).

    Article 

    Google Scholar
     

  • Schwittay, A. F. The financial inclusion assemblage: Subjects, technics, rationalities. Crit. Anthropol. 31(4), 381–401 (2011).

    Article 

    Google Scholar
     

  • DeHan, C. Private credit and unequal access. SSRN Electron. J, https://ssrn.com/abstract=2458612 (2014).

  • Salampasis, D. & Mention, A.-L. FinTech: Harnessing innovation for financial inclusion. In Handbook of Blockchain, Digital Finance, and Inclusion (eds Lee KuoChuen, D. & Deng, R.) 451–461 (Academic Press, 2018).

    Chapter 

    Google Scholar
     

  • Ohiomu, S. & Ogbeide-Osaretin, E. N. Financial inclusion and gender inequality reduction: Evidence from sub-saharan Africa. Indian Econ. J. 67(3–4), 367–372 (2019).

    Article 

    Google Scholar
     

  • Asrar, Z. Discussing gender inequality in Pakistan. Res. Humanit. Soc. Sci. 7, 4–7 (2017).


    Google Scholar
     

  • Begam, A. & Mujahid, N. An assessment of gender inequality: A case study of Pakistan. Int. J. Women Empower. 5, 43–62 (2019).

    Article 

    Google Scholar
     

  • Demirgüç-Kunt, A., Klapper, L., Singer, D. & Ansar, S. The Global Findex Database 2021: Financial Inclusion, Digital Payments, and Resilience in the Age of COVID-19 (World Bank, 2022).

    Book 

    Google Scholar
     

  • Lohana, K., Alizai, S. H. & Ahmed, P. Gender equality as a sustainable development goal: Analytical study of gender issues in Pakistan. Pakistan J. Int. Aff. 4(1), 1–12 (2021).


    Google Scholar
     

  • Ibtasam, S., Razaq, L., Anwar, H. W., Mehmood, H., Shah, K., Webster, J., Anderson, R. Knowledge, access, and decision-making: Women’s financial inclusion in Pakistan. In: Proc. 1st ACM SIGCAS Conference on Computing and Sustainable Societies, 2018/06, 2018. pp. 1–12. (2018).

  • Mahmood, S., Shuhui, W., Aslam, S. & Ahmed, T. The financial inclusion development and its impacts on disposable income. SAGE Open 12(2), 21582440221093370 (2022).

    Article 

    Google Scholar
     

  • Ahmad, Y. & Rooh, S. The determinants of financial inclusion in Pakistan. Acad. J. Soc. Sci. (AJSS) 6(1), 28–47 (2022).


    Google Scholar
     

  • Kumari, S. Financial inclusion: An initiative towards women empowerment against social norms. Econ. Bus. Account. Soc. Rev. 1(2), 88–95 (2022).

    Article 

    Google Scholar
     

  • Raza, M. S., Tang, J., Rubab, S. & Wen, X. Determining the nexus between financial inclusion and economic development in Pakistan. J. Money Laund. Control 22(2), 195–209 (2019).

    Article 

    Google Scholar
     

  • Hasan, R., Ashfaq, M., Parveen, T. & Gunardi, A. Financial inclusion—Does digital financial literacy matter for women entrepreneurs?. Int. J. Soc. Econ. 50(8), 1085–1104 (2023).

    Article 

    Google Scholar
     

  • Ejaz, M. & Qayum, M. Financial inclusion and women’s empowerment in Pakistan. Pak. J. Humanit. Soc. Sci. 11(04), 4493–4501 (2023).

    Article 

    Google Scholar
     

  • Kemal, A. A. Mobile banking in the government-to-person payment sector for financial inclusion in Pakistan*. Inf. Technol. Dev. 25(3), 475–502 (2019).

    Article 
    ADS 

    Google Scholar
     

  • Demirguc-Kunt, A., Klapper, L. & Singer, D. Financial Inclusion and Legal Discrimination against Women: Evidence from Developing Countries (World Bank, 2013).

    Book 

    Google Scholar
     

  • Pakistan Bureau of Statistics. Labour Force Survey 2020–21 (Annual Report); (Pakistan Bureau of Statistics: (2021).

  • State Bank of Pakistan. What is Banking on Equality. https://www.sbp.org.pk/BOE/index.html (2022).

  • State Bank of Pakistan. National Financial Inclusion Strategy (State Bank of Pakistan, 2015).


    Google Scholar
     

  • Hussain, J., Mahmood, S. & Scott, J. Gender, microcredit and poverty alleviation in a developing country: The case of women entrepreneurs in Pakistan. J. Int. Dev. 31(3), 247–270 (2019).

    Article 

    Google Scholar
     

  • Sen, A. Development as Freedom (Anchor Books, 2000).


    Google Scholar
     

  • Karlan, D. S.; Zinman, J., Expanding Microenterprise Credit Access: Using Randomized Supply Decisions to Estimate the Impacts in Manila. Yale Economics Department Working Paper No. 68, Yale University Economic Growth Center Discussion Paper No. 976, (2009).

  • Sha’ban, M., Girardone, C. & Sarkisyan, A. Cross-country variation in financial inclusion: A global perspective. Eur. J. Financ. 26(4–5), 319–340 (2020).

    Article 

    Google Scholar
     

  • Seo, E.; Yoo, K.-W., Financial Inclusion Through Fintech in the Digital Economy. KIEP Research Paper, APEC Study Series 20–03, (2020).

  • Thommandru, A., Chakka, B., Vinay, M. & Mamgain, P. IMPACT of artificial intelligence on E-banking and financial technology development. ECS Trans. 107(1), 16469 (2022).

    Article 
    ADS 
    CAS 

    Google Scholar
     

  • How, M.-L., Cheah, S.-M., Khor, A. C. & Chan, Y. J. Artificial intelligence-enhanced predictive insights for advancing financial inclusion: A human-centric AI-thinking approach. Big Data Cognit. Comput. 4, 8 (2020).

    Article 

    Google Scholar
     

  • Eldomiaty, T., Hammam, R. & El Bakry, R. Institutional determinants of financial inclusion: Evidence from world economies. Int. J. Dev. Issues 19(2), 217–228 (2020).

    Article 

    Google Scholar
     

  • Asuming, P. O., Osei-Agyei, L. G. & Mohammed, J. I. Financial inclusion in sub-saharan Africa: Recent trends and determinants. J. Afr. Bus. 20(1), 112–134 (2019).

    Article 

    Google Scholar
     

  • Banna, H. & Alam, M. R. Islamic banking efficiency and inclusive sustainable growth: The role of financial inclusion. J. Islam. Monet. Econ. Financ. 6(1), 213–242 (2020).


    Google Scholar
     

  • Sharma, M. K. Financial inclusion: A prelude to economic status of vulnerable group. Int. J. Res.-Granthaalayah 4(12), 147–154 (2016).

    Article 

    Google Scholar
     

  • Kushalakshi, K. & Raghurama, A. R. Financial inclusion in India: Policy initiatives and challenges. Int. J. Sci. Res. 3(2), 63–64 (2012).


    Google Scholar
     

  • Akash, V. Financial inclusion as a precursor to economic development and change. Int. J. Res. Econ. Soc. Sci. 5, 106–112 (2015).


    Google Scholar
     

  • Mehmood, U. Examining the role of financial inclusion towards CO2 emissions: Presenting the role of renewable energy and globalization in the context of EKC. Environ. Sci. Pollut. Res. 29(11), 15946–15954 (2022).

    Article 

    Google Scholar
     

  • Settle, A. The financial inclusion agenda: For poverty alleviation or monetary control?. Rev. Int. Polit. Econ. 29(3), 928–954 (2022).

    Article 

    Google Scholar
     

  • Ullah, K., Mohsin, A. Q., Saboor, A. & Baig, S. Financial inclusion, socioeconomic disaster risks and sustainable mountain development: Empirical evidence from the karakoram valleys of Pakistan. Sustain.-Basel 12, 9737 (2020).

    Article 

    Google Scholar
     

  • Kabakova, O. & Plaksenkov, E. Analysis of factors affecting financial inclusion: Ecosystem view. J. Bus. Res. 89, 198–205 (2018).

    Article 

    Google Scholar
     

  • Munir, N., Batool, Z. & Ghazanfar, B. Investigating the link between financial development and poverty reduction in Pakistan through financial inclusion. J. Appl. Econ. Bus. Stud. 6(4), 89–108 (2022).

    Article 

    Google Scholar
     

  • Ali, A. & Ahmad, I. Nexus between gender inequality in education and economic growth in Pakistan. J. Soc. Sci. Humanit. 58(2), 49–70 (2019).

    MathSciNet 

    Google Scholar
     

  • Hou, X. Women’s Decision Making Power and Human Development: Evidence from Pakistan Vol. 33 (The World Bank, 2011).

    Book 

    Google Scholar
     

  • Shaukat, S., Siddiquah, A. & Pell, A. W. Gender discrimination in higher education in Pakistan: A survey of university faculty. Eur. J. Educ. Res. 56, 1 (2014).


    Google Scholar
     

  • Robeyns, I. The capability approach: A theoretical survey. J. Hum. Dev. 6(1), 93–117 (2005).

    Article 

    Google Scholar
     

  • Strömbäck, C., Lind, T., Skagerlund, K., Västfjäll, D. & Tinghög, G. Does self-control predict financial behavior and financial well-being?. J. Behav. Exp. Financ. 14, 30–38 (2017).

    Article 

    Google Scholar
     

  • Ellili, N. O. D., Financial inclusion and sustainable development: A review and research agenda. J. Financ. Serv. Market. https://doi.org/10.1057/s41264-024-00269-5 (2024).

  • Demirguc-Kunt, A.; Klapper, L.; Singer, D., Financial Inclusion and Inclusive Growth: A Review of Recent Empirical Evidence. Policy Research Working Paper; No. 8040, https://doi.org/10.1057/s41264-024-00269-5 (2017).

  • Ozili, P. K. Impact of digital finance on financial inclusion and stability. Borsa Istanb. Rev. 18(4), 329–340 (2018).

    Article 

    Google Scholar
     

  • Arner, D. W., Buckley, R. P., Zetzsche, D. A. & Veidt, R. Sustainability, FinTech and financial inclusion. Eur. Bus. Organ. Law Rev. 21(1), 7–35 (2020).

    Article 

    Google Scholar
     

  • Butor-Keler, A. & Polasik, M. The role of regulatory sandboxes in the development of innovations on the financial services market: The case of the United Kingdom. Ekonomia i Prawo. Econ. Law 19(4), 621–638 (2020).


    Google Scholar
     

  • Arner, D. W.; Barberis, J. N.; Buckley, R. P., The Evolution of Fintech: A New Post-Crisis Paradigm? University of Hong Kong Faculty of Law Research Paper No. 2015/047, UNSW Law Research Paper No. 2016–62, (2015).

  • Arun, T. & Kamath, R. Financial inclusion: Policies and practices. IIMB Manag. Rev. 27(4), 267–287 (2015).

    Article 

    Google Scholar
     

  • Agarwal, S.; Alok, S.; Ghosh, P.; Gupta, S., Financial Inclusion and Alternate Credit Scoring: Role of Big Data and Machine Learning in Fintech. In Indian School of Business: 2019.

  • Pakistan Bureau of Statistics, Population Census 2017. In Pakistan Bureau of Statistics, Government of Pakistan: Islamabad, Pakistan, 2018.

  • Hosmer, D. W. Jr., Lemeshow, S. & Sturdivant, R. X. Applied Logistic Regression (John Wiley, 2013).

    Book 

    Google Scholar
     

  • Peng, C.-Y.J., Lee, K. L. & Ingersoll, G. M. An Introduction to logistic regression analysis and reporting. J. Educ. Res. 96(1), 3–14 (2002).

    Article 

    Google Scholar
     

  • Hilgert, M. A., Hogarth, J. M. & Beverly, S. G. Household financial management: The connection between knowledge and behavior. Fed. Reserv. Bull. 89, 309 (2003).


    Google Scholar
     

  • Fungáčová, Z. & Weill, L. Understanding financial inclusion in China. China Econ. Rev. 34, 196–206 (2015).

    Article 

    Google Scholar
     

  • Burnham, K. P. & Anderson, D. R. Multimodel Inference: Understanding AIC and BIC in model selection. Sociol. Methods Res. 33(2), 261–304 (2004).

    Article 
    MathSciNet 

    Google Scholar
     

  • Williams, R. Using the margins command to estimate and interpret adjusted predictions and marginal effects. Stata J. 12(2), 308–331 (2012).

    Article 

    Google Scholar
     

  • Hanmer, L. & Klugman, J. Exploring women’s agency and empowerment in developing countries: Where do we stand?. Fem. Econ. 22(1), 237–263 (2016).

    Article 

    Google Scholar
     

  • Ghosh, S. & Vinod, D. What constrains financial inclusion for women? Evidence from Indian micro data. World Dev. 92, 60–81 (2017).

    Article 

    Google Scholar
     

  • Chundakkadan, R. & Sasidharan, S. Gender gap and access to finance: A cross-country analysis. Rev. Dev. Econ. 26(1), 180–207 (2022).

    Article 

    Google Scholar
     

  • Swamy, V. Financial inclusion, gender dimension, and economic impact on poor households. World Dev. 56, 1–15 (2014).

    Article 

    Google Scholar
     

  • Zins, A. & Weill, L. The determinants of financial inclusion in Africa. Rev. Dev. Financ. 6(1), 46–57 (2016).

    Article 

    Google Scholar
     

  • Aterido, R., Beck, T. & Iacovone, L. Access to finance in sub-saharan Africa: Is there a gender gap?. World Dev. 47, 102–120 (2013).

    Article 

    Google Scholar
     

  • Sadaquat, M. B. & Sheikh, Q. Employment situation of women in Pakistan. Int. J. Soc. Econ. 38(2), 98–113 (2011).

    Article 

    Google Scholar
     

  • Fanta, A.; Mutsonziwa, K., Gender and financial inclusion: Analysis of financial inclusion of women in the SADC region. In Finmark Trust: 2016.

  • Rehman, A., Ping, Q. & Razzaq, A. Pathways and associations between women’s land ownership and child food and nutrition security in Pakistan. Int. J. Environ. Res. Public Health 16(18), 3360 (2019).

    Article 
    PubMed 
    PubMed Central 

    Google Scholar
     

  • Zaidi, S. A. Issues in Pakistan’s economy (Oxford University Press, 2005).


    Google Scholar
     

  • Mustafa, M. et al. Digital financial needs of micro-entrepreneur women in Pakistan: Is mobile money the answer? In Proceedings of the 2019 CHI Conference on Human Factors in Computing Systems (eds Mustafa, M. et al.) (Association for Computing Machinery, 2019).


    Google Scholar
     

  • Aleemi, A. R., Javaid, F. & Hafeez, S. S. Finclusion: The nexus of fintech and financial inclusion against banks’ market power. Heliyon 9(12), e22551 (2023).

    Article 
    PubMed 
    PubMed Central 

    Google Scholar
     

  • Suri, T. & Jack, W. The long-run poverty and gender impacts of mobile money. Science 354(6317), 1288–1292 (2016).

    Article 
    ADS 
    CAS 
    PubMed 

    Google Scholar
     

  • Banerjee, A. V. & Duflo, E. Good economics for hard times (PublicAffairs, 2019).


    Google Scholar
     


  • Source link

    Related Articles

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    Back to top button

    SUBSCRIBE TO OUR NEWSLETTER

    Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.


    100% secure your website.