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Determinants of Human Wellbeing and its Prospect Under the Role of Financial Inclusion in South Asian Countries

Author

Listed:
  • Audi, Marc
  • Poulin, Marc
  • Ali, Amjad
Abstract
This study aims to examine the impact of financial inclusion on human well-being in South Asian countries from 1996 to 2020. Specifically, Pakistan, India, Sri Lanka, and Bangladesh were selected for this investigation. Human well-being is treated as the dependent variable, while financial inclusion, health facilities, voice & accountability, income inequality, corruption, education facilities, and the unemployment rate are considered independent variables. The study's findings indicate that financial inclusion, health facilities, and education facilities have a positive and significant impact on human well-being. The improvement of health and educational facilities not only creates more employment opportunities but also contributes to the enhancement of income, education, and health status within a nation. These results explain that selected South Asian countries should prioritize the promotion of education and health facilities to elevate the overall level of human well-being. Voice & accountability, along with corruption, exhibit an inverse and significant influence on human well-being in selected South Asian countries. Income inequality, on the other hand, shows an inverse but insignificant impact on human well-being, while unemployment has a significant and positive influence. Based on the estimated results, it is recommended that to enhance the level of human well-being in South Asian countries, there is a need to improve financial inclusion, health facilities, and educational facilities.

Suggested Citation

  • Audi, Marc & Poulin, Marc & Ali, Amjad, 2023. "Determinants of Human Wellbeing and its Prospect Under the Role of Financial Inclusion in South Asian Countries," MPRA Paper 120119, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:120119
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    5. Faiza Zahid & Kalsoom Durrani & Dr. Saeedah Shah & Dr. Shakeel Ahmed & Dr. Bashir Muhammad, 2023. "Youth Unemployment and Social Stability: Investigating the Linkages and Possible Solutions in the Context of Pakistan," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 12(4), pages 477-484.
    6. Tumani Sanneh & Ayesha Qamar & Mafabi Muzamir, 2024. "Exploring Factors Influencing Trust in Banks: A Multifaceted Analysis," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 13(1), pages 696-702.
    7. Sadia Naseem Naik & Dr. Aribah Aslam, 2024. "The Impact of Financial Inclusion on the Association between Government Cash Transfers and Violence Against Women," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 13(1), pages 61-69.
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    More about this item

    Keywords

    human well-being; financial inclusion; health facilities; voice & accountability;
    All these keywords.

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General
    • P46 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Consumer Economics; Health; Education and Training; Welfare, Income, Wealth, and Poverty

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