Search

The world is currently transitioning from a paradigm of purely economic growth to one of inclusive growth. Financial inclusion (FI) as a driver of inclusive growth and poverty alleviation has attracted significant attention in this epochal transition. Although many excellent works have been published regarding advanced applications of FI and FI-poverty alleviation mechanisms, no work has been done to systematically discuss the interaction of financial literacy (FL) and the mediation of inclusive growth, particularly in Pakistan. Therefore, we examine how FI and the interaction of FI and FL explain their successful translation into inclusive growth and poverty alleviation. To better understand the mechanism, we examine SME perspectives in Pakistan using deductive and cross-sectional study designs and employ mediational and moderated mediational approaches through structural equation modeling technique in Amos 24. This is a significant oversight because small firms are often neglected when accessing financial services. Our findings show that, first, FI influences inclusive growth and poverty alleviation, respectively. Second, it demonstrated the inclusive growth mediation link between FI and poverty alleviation. Finally, FL strengthens the mediational link between FI, inclusive growth, and poverty alleviation. Yet, in the face of low FL, we also suggest that the FI will start to converge in ways that are problematic for a nation's SME sector in promoting inclusive growth and poverty alleviation. This insight contributes to an important understanding of the efficacy of FI as an inclusive growth and poverty reduction tool. [ABSTRACT FROM AUTHOR]

In recent years, debates on sustainable economic development have highlighted the importance of comprehensive growth especially in developing countries. Inclusive growth is widely seen as a key ingredient for sustainable development. However, there is little empirical evidence to support this claim. The current study examines the level of inclusive growth and sustainable development and association among them in 11 selected developing countries for the year 2008 and 2018. We extract key factors on variables of interest from 7 pillars of inclusive growth level and United Nations' Sustainable Development Goals by using the Principal Components Analysis and the Multivariate Analysis. The key results highlight that Turkey and China have achieved highest while Pakistan and Indonesia represent the lowest level of inclusive growth. Similarly, Brazil and Pakistan show the lowest while Cambodia and Thailand hold the highest rank on sustainable development level. The empirical findings show high value of negative correlation coefficients between social inclusion of inclusive growth and prevalence of poverty with life-threatening factors of sustainable development. Similarly, a high positive value between unsatisfactory medical services, education and state transparency of inclusive growth; poverty and its consequences of sustainable development further confirms the robustness of association among variables of interest our. A strong recommendation on improving the inclusive growth as policy strategy is suggested in developing countries to further enhance the sustainable development. [ABSTRACT FROM AUTHOR]

The relevance of women in contributing to inclusive growth and consequently economic development in Nigeria cannot be overemphasized. Women play important social, economic and productive roles in any economy. Maternal mortality rate refers to the annual number of deaths of women from pregnancy-related causes per 100,000 live births, and Nigeria's rate is still relatively high at about 630 when compared with the figures of the developed countries. For inclusive growth to be achieved in Nigeria, women should not be neglected and marginalized so they can contribute their quota to the growth of the country, but maternal mortality rate needs to be reduced because it is only the living that can make contributions to growth. Thus, this study examined the long run effect of gender inequality, maternal mortality and inclusive growth in Nigeria using time series data spanning from 1985 to 2017, and employed the ARDL econometric technique. The results showed that gender inequality and maternal mortality have negative impacts on inclusive growth in Nigeria. Therefore, the study recommends that women should be properly taken care of during pregnancy so that the maternal mortality rate can be reduced and hence they will be able to make meaningful contributions to the growth of the Nigerian economy. [ABSTRACT FROM AUTHOR]