Financial development enhances human development, and access to financial services makes a positive impact on peoples lives particularly poor people. In addition, financial development reduces income inequality and boosts incomes. Over the last few decades, policymakers have considered financial sector reforms that promote financial inclusion. This paper attempts to show how financial inclusion is correlated with standard measures of economic development and economic well-being. To this end, we first measure the extent of financial inclusion by comparing economies and regions over time....
Financial development enhances human development, and access to financial services makes a positive impact on peoples lives particularly poor people. ...