Financial Inclusion College Essays

Financial Inclusion College Essays-70
Using unique cross-country panel and survey data sets, three hypotheses are tested: (1) microfinance is an effective tool for poverty reduction; (2) women’s participation in microfinance contributes to improvements in gender equality; and (3) financial inclusion has a positive effect on household income in China. First, it shows that microfinance has a negative effect on poverty at the macroeconomic level.Second, it demonstrates that women’s participation in microfinance is associated with a reduction in gender inequality across countries.Franklin Roosevelt, the popular president of United States of America in 1932, referred to the American poor as the forgotten man at the bottom of the economic pyramid.

Using unique cross-country panel and survey data sets, three hypotheses are tested: (1) microfinance is an effective tool for poverty reduction; (2) women’s participation in microfinance contributes to improvements in gender equality; and (3) financial inclusion has a positive effect on household income in China. First, it shows that microfinance has a negative effect on poverty at the macroeconomic level.Second, it demonstrates that women’s participation in microfinance is associated with a reduction in gender inequality across countries.

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These large numbers of poor are required to be provided with much needed financial assistance in order to sail them out of their conditions of poverty. Accordingly, there is felt a need for policy support in channeling the financial resources towards the economic upliftment of resource poor in any developing economy.

This study is an attempt to comprehend and distinguish the significance of Financial Inclusion in the context of a developing country like India wherein a large population is deprived of the financial services which are very much essential for overall economic growth of a country.

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Recent survey evidence suggests that access to finance has a direct nexus with faster rates of innovation and firm dynamism consistent with the cross-country finding that finance promotes growth through increase in productivity (Ayyagari, M., Demirg‡-Kunt, A. Further, it has also been revealed that financial development plays a significant role in moderating the impact of external shocks on the domestic economy (Beck, T., Lundberg, M. Besides debate concerning the role of finance in economic development, economists have also debated the relative importance of bank-based and market-based financial systems for a long time (Golsdmith, 1969; Boot and Thakor, 1997; Allen and Gale, 2000; Demirguc-Kunt and Levine, 2001).

Critiquing A Research Paper - Financial Inclusion College Essays

Joseph Schumpeter argued in 1911 that banks play a pivotal role in economic development.

In section III, Inclusive Growth and its significance for achieving sustainable growth is discussed.

Section-IV brings to fore the Financial Inclusion and its dimensions in detail.

The leading works hardly include finance as a factor for growth.

Since then there has been numerous research analyzing how financial systems help in developing economies.

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