TY - JOUR
T1 - Does financial inclusion stimulate India's economy : a panel data analysis
AU - Ghosh, S.
AU - Sahu, T. N.
AU - Mallik, Girijasankar
PY - 2024/2
Y1 - 2024/2
N2 - The study empirically examines the connections between three different measures of financial inclusion with output growth across the states of India. Applying the panel co-integration and error correction model for 26 states and 4 union territories, it concludes that all three measures of financial development with gross fixed capital formation enhance real net state GDP significantly in the long run. Further, a significant reduction in the real net state GDP is also observed during the Global Financial Crisis. This study is important for the Indian policymakers to formulate effective financial inclusion policies leading to the overall development of the Indian economy.
AB - The study empirically examines the connections between three different measures of financial inclusion with output growth across the states of India. Applying the panel co-integration and error correction model for 26 states and 4 union territories, it concludes that all three measures of financial development with gross fixed capital formation enhance real net state GDP significantly in the long run. Further, a significant reduction in the real net state GDP is also observed during the Global Financial Crisis. This study is important for the Indian policymakers to formulate effective financial inclusion policies leading to the overall development of the Indian economy.
UR - https://hdl.handle.net/1959.7/uws:73072
U2 - 10.1002/pa.2891
DO - 10.1002/pa.2891
M3 - Article
SN - 1472-3891
JO - Journal of Public Affairs
JF - Journal of Public Affairs
M1 - e2891
ER -
