Development of Financial Inclusion Index: Recent Empirical Research Review

Abstract

A growing corpus of scholarly research indicates that individuals, particularly women and individuals with low incomes, derive significant advantages from accessing appropriate financial services. This study provides an overview of financial inclusion on a worldwide scale, while also examining the existing empirical data on the advantages of utilizing financial products, such as loans, savings accounts, insurance, and payment services, in relation to inclusive growth and economic development. In addition to engaging in a discourse on prospective areas of research, this study also endeavors to tackle some impediments that hinder the advancement of financial inclusion.