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Dynamic Interaction Between Financial Inclusion and Gender Equality in Determining Economic Growth: A Study of Developing Countries

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Abstract

Gender equality and financial inclusion are the key constituents of the principle of “leaving no one behind” upheld by the Sustainable Development Goals which emphasize a holistic approach for the sustainable development of all. The paper is an attempt to analyze the combined effect of financial inclusion and gender equality on economic growth for a group of 48 developing countries for the period 2004–2019 using the generalized method of moments. Using interaction analysis, the study finds a complementary association between gender equality and financial inclusion in their impact on economic growth. This suggests that an improvement in the financial inclusion in the presence of better gender parity has a multiplicative effect on economic growth. The study concludes that gender equality creates various pull and push factors for better financial inclusion. Similarly, financial inclusion eliminates the gender inequality in access to financial products exacerbating the influence on economic growth both individually as well as collectively.

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Data Availability

All the data used in this study has been taken from open sources, as mentioned. However, the authors can share the final data file upon reasonable request to the corresponding author.

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  1. Department of Economics, Aligarh Muslim University (AMU), Uttar Pradesh, Aligarh, India, 202002

    Inayat Ullah Wani & Ishfaq Nazir Khanday

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Table 6. 

Table 6 List of selected sample of countries
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Wani, I.U., Khanday, I.N. Dynamic Interaction Between Financial Inclusion and Gender Equality in Determining Economic Growth: A Study of Developing Countries. J Knowl Econ (2024). https://doi.org/10.1007/s13132-024-01761-y

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