Sustainable Financial Inclusion Through Social Progress and Regularity Quality Interaction – Implication for Least Developed Countries
Ul-Durar, Shajara, Iqbal, Mubasher, Naveed, Shabana, Massacci, Alberto and Saleem, Irfan (2025) Sustainable Financial Inclusion Through Social Progress and Regularity Quality Interaction – Implication for Least Developed Countries. Research in International Business and Finance, 76. ISSN 1878-3384
Item Type: | Article |
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Abstract
Sustainable development through social progress is resolute in enhancing financial inclusion through spreading the affordable financial facilities. However, the Social Progress Index (SPI) reflects sustainable development by measuring a country's ability to meet basic human needs, support well-being, and provide opportunities for a better quality of life, beyond just economic growth, and pave the way for spreading access to affordable financial services. This study has considered least-developed countries due to their diverse socio-economic challenges and financial disparities. For this purpose, data from 2011 to 2023 is considered. Estimated results using the Driscoll-Kraay standard error and Panel Quantile Regression methods have validated the inverted U-shaped impact of social progress on financial inclusion. It implies that moderate levels of social progress can enhance financial access. However, excessive focus on social progress without adequate economic growth hinders financial service expansion, ultimately affecting overall economic stability and inclusion. This study incorporates regularity quality as a determinant of financial inclusion and a moderator of social progress. It negatively determines financial inclusion but, as a moderator, it boosts social progress towards sustainable financial inclusion. Furthermore, overall productive capacity and technology, mainly through internet usage as the model's control variables, are vital in promoting financial inclusion.
Keywords: sustainable financial inclusion, sustainable development, inclusive growth, regularity quality, Panel Quantile Regression (PQR)
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Depositing User: Shajara Ul-Durar |
Identifiers
Item ID: 18825 |
Identification Number: https://doi.org/10.1016/j.ribaf.2025.102811 |
ISSN: 1878-3384 |
URI: http://sure.sunderland.ac.uk/id/eprint/18825 | Official URL: https://www.sciencedirect.com/journal/research-in-... |
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Date Deposited: 04 Mar 2025 15:18 |
Last Modified: 04 Mar 2025 15:30 |
Author: |
Shajara Ul-Durar
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Author: |
Shabana Naveed
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Author: | Mubasher Iqbal |
Author: | Alberto Massacci |
Author: | Irfan Saleem |
University Divisions
Faculty of Business, Law and Tourism > Sunderland Business SchoolSubjects
Business and Management > Business and ManagementActions (login required)
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