Assessing The Impact of Financial Inclusion On Economic Growth – Evidence From Selected European Countries

Document Type : Original Article

Authors

Economics, Management sciences, MSA university, Giza

Abstract

This research investigates the impact of financial inclusion on economic growth in European countries over the period 2008-2020. The variables used to measure the financial inclusion in this study are number of automated teller machines, number of commercial bank branches, population, carbon dioxide emissions, and mobile cellular subscriptions as we explore their effect on GDP growth. Additionally, the methodology used to test for the relationships between the variables are panel least square, and ARDL models using the E-views 12 program. Findings revealed that in the short run, number of ATMs have a positive insignificant impact on economic growth while number of commercial banks and mobile cellular subscriptions have a positive insignificant impact on economic growth. Also, CO2 emissions have positive significant impact on economic growth. However, in the long run, number of ATMs, number of commercial banks and mobile cellular subscriptions have positive significant impact on GDP growth. Meanwhile, CO2 emissions have a negative significant impact on GDP growth in the six selected European countries.

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