Financial inclusion: A panacea for balanced economic development

Lawrence Okoye Uchenna; Kehinde A. Adetiloye; Olayinka Erin; Nwanneka J. Modebe

Financial inclusion: A panacea for balanced economic development

Lawrence Okoye Uchenna
, Kehinde A. Adetiloye
, Olayinka Erin
, Nwanneka J. Modebe

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

7 Citations (Scopus)

Abstract

The major objective of this paper was to determine the effect of financial inclusion on economic growth and development in Nigeria using historical data on selected variables over the period 1986-2015. Ordinary Least Squares regression technique was adopted. Financial inclusion was measured in the study using loan to deposit ratio (LDR), financial deepening indicators (FDI), loan to rural areas (LRA), and branch network (Bbranch). Measures of financial deepening adopted in the study are ratios of private sector credit to GDP and broad money supply to GDP. Economic growth was proxied as growth in gross domestic product (GDP) over successive periods while per capita income (PCI) was adopted as a measure of poverty and hence an index of development. The main findings are (i) credit delivery to the private sector (an index of financial inclusion) has not significantly supported economic growth in Nigeria (ii) financial inclusion has promoted poverty alleviation in Nigeria through rural credit delivery. The study recommends that the monetary authorities should not only deepen financial inclusion efforts through enhanced credit delivery to the private sector but should also strengthen the regulatory framework in order to ensure efficient and effective resource allocation and utilization.

Original language	English
Title of host publication	Proceedings of the 28th International Business Information Management Association Conference - Vision 2020
Subtitle of host publication	Innovation Management, Development Sustainability, and Competitive Economic Growth
Editors	Khalid S. Soliman
Publisher	International Business Information Management Association, IBIMA
Pages	4384-4394
Number of pages	11
ISBN (Electronic)	9780986041983
Publication status	Published - 2016
Externally published	Yes
Event	28th International Business Information Management Association Conference - Vision 2020: Innovation Management, Development Sustainability, and Competitive Economic Growth - Seville, Spain Duration: 9 Nov 2016 → 10 Nov 2016

Publication series

Name	Proceedings of the 28th International Business Information Management Association Conference - Vision 2020: Innovation Management, Development Sustainability, and Competitive Economic Growth

Conference

Conference	28th International Business Information Management Association Conference - Vision 2020: Innovation Management, Development Sustainability, and Competitive Economic Growth
Country/Territory	Spain
City	Seville
Period	9/11/16 → 10/11/16

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 1 No Poverty
SDG 8 Decent Work and Economic Growth
SDG 10 Reduced Inequalities
SDG 17 Partnerships for the Goals

Keywords

Economic growth
Financial deepening
Financial inclusion
Poverty alleviation

ASJC Scopus subject areas

Management Information Systems
Information Systems and Management

Cite this

Uchenna, L. O., Adetiloye, K. A., Erin, O., & Modebe, N. J. (2016). Financial inclusion: A panacea for balanced economic development. In K. S. Soliman (Ed.), Proceedings of the 28th International Business Information Management Association Conference - Vision 2020: Innovation Management, Development Sustainability, and Competitive Economic Growth (pp. 4384-4394). (Proceedings of the 28th International Business Information Management Association Conference - Vision 2020: Innovation Management, Development Sustainability, and Competitive Economic Growth). International Business Information Management Association, IBIMA.

Uchenna, Lawrence Okoye ; Adetiloye, Kehinde A. ; Erin, Olayinka et al. / Financial inclusion : A panacea for balanced economic development. Proceedings of the 28th International Business Information Management Association Conference - Vision 2020: Innovation Management, Development Sustainability, and Competitive Economic Growth. editor / Khalid S. Soliman. International Business Information Management Association, IBIMA, 2016. pp. 4384-4394 (Proceedings of the 28th International Business Information Management Association Conference - Vision 2020: Innovation Management, Development Sustainability, and Competitive Economic Growth).

@inproceedings{9790df2f9a04484c9efedcfbcf1fee1a,

title = "Financial inclusion: A panacea for balanced economic development",

abstract = "The major objective of this paper was to determine the effect of financial inclusion on economic growth and development in Nigeria using historical data on selected variables over the period 1986-2015. Ordinary Least Squares regression technique was adopted. Financial inclusion was measured in the study using loan to deposit ratio (LDR), financial deepening indicators (FDI), loan to rural areas (LRA), and branch network (Bbranch). Measures of financial deepening adopted in the study are ratios of private sector credit to GDP and broad money supply to GDP. Economic growth was proxied as growth in gross domestic product (GDP) over successive periods while per capita income (PCI) was adopted as a measure of poverty and hence an index of development. The main findings are (i) credit delivery to the private sector (an index of financial inclusion) has not significantly supported economic growth in Nigeria (ii) financial inclusion has promoted poverty alleviation in Nigeria through rural credit delivery. The study recommends that the monetary authorities should not only deepen financial inclusion efforts through enhanced credit delivery to the private sector but should also strengthen the regulatory framework in order to ensure efficient and effective resource allocation and utilization.",

keywords = "Economic growth, Financial deepening, Financial inclusion, Poverty alleviation",

author = "Uchenna, \{Lawrence Okoye\} and Adetiloye, \{Kehinde A.\} and Olayinka Erin and Modebe, \{Nwanneka J.\}",

year = "2016",

language = "English",

series = "Proceedings of the 28th International Business Information Management Association Conference - Vision 2020: Innovation Management, Development Sustainability, and Competitive Economic Growth",

publisher = "International Business Information Management Association, IBIMA",

pages = "4384--4394",

editor = "Soliman, \{Khalid S.\}",

booktitle = "Proceedings of the 28th International Business Information Management Association Conference - Vision 2020",

note = "28th International Business Information Management Association Conference - Vision 2020: Innovation Management, Development Sustainability, and Competitive Economic Growth ; Conference date: 09-11-2016 Through 10-11-2016",

}

Uchenna, LO, Adetiloye, KA, Erin, O & Modebe, NJ 2016, Financial inclusion: A panacea for balanced economic development. in KS Soliman (ed.), Proceedings of the 28th International Business Information Management Association Conference - Vision 2020: Innovation Management, Development Sustainability, and Competitive Economic Growth. Proceedings of the 28th International Business Information Management Association Conference - Vision 2020: Innovation Management, Development Sustainability, and Competitive Economic Growth, International Business Information Management Association, IBIMA, pp. 4384-4394, 28th International Business Information Management Association Conference - Vision 2020: Innovation Management, Development Sustainability, and Competitive Economic Growth, Seville, Spain, 9/11/16.

Financial inclusion: A panacea for balanced economic development. / Uchenna, Lawrence Okoye; Adetiloye, Kehinde A.; Erin, Olayinka et al.
Proceedings of the 28th International Business Information Management Association Conference - Vision 2020: Innovation Management, Development Sustainability, and Competitive Economic Growth. ed. / Khalid S. Soliman. International Business Information Management Association, IBIMA, 2016. p. 4384-4394 (Proceedings of the 28th International Business Information Management Association Conference - Vision 2020: Innovation Management, Development Sustainability, and Competitive Economic Growth).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

TY - GEN

T1 - Financial inclusion

T2 - 28th International Business Information Management Association Conference - Vision 2020: Innovation Management, Development Sustainability, and Competitive Economic Growth

AU - Uchenna, Lawrence Okoye

AU - Adetiloye, Kehinde A.

AU - Erin, Olayinka

AU - Modebe, Nwanneka J.

PY - 2016

Y1 - 2016

N2 - The major objective of this paper was to determine the effect of financial inclusion on economic growth and development in Nigeria using historical data on selected variables over the period 1986-2015. Ordinary Least Squares regression technique was adopted. Financial inclusion was measured in the study using loan to deposit ratio (LDR), financial deepening indicators (FDI), loan to rural areas (LRA), and branch network (Bbranch). Measures of financial deepening adopted in the study are ratios of private sector credit to GDP and broad money supply to GDP. Economic growth was proxied as growth in gross domestic product (GDP) over successive periods while per capita income (PCI) was adopted as a measure of poverty and hence an index of development. The main findings are (i) credit delivery to the private sector (an index of financial inclusion) has not significantly supported economic growth in Nigeria (ii) financial inclusion has promoted poverty alleviation in Nigeria through rural credit delivery. The study recommends that the monetary authorities should not only deepen financial inclusion efforts through enhanced credit delivery to the private sector but should also strengthen the regulatory framework in order to ensure efficient and effective resource allocation and utilization.

AB - The major objective of this paper was to determine the effect of financial inclusion on economic growth and development in Nigeria using historical data on selected variables over the period 1986-2015. Ordinary Least Squares regression technique was adopted. Financial inclusion was measured in the study using loan to deposit ratio (LDR), financial deepening indicators (FDI), loan to rural areas (LRA), and branch network (Bbranch). Measures of financial deepening adopted in the study are ratios of private sector credit to GDP and broad money supply to GDP. Economic growth was proxied as growth in gross domestic product (GDP) over successive periods while per capita income (PCI) was adopted as a measure of poverty and hence an index of development. The main findings are (i) credit delivery to the private sector (an index of financial inclusion) has not significantly supported economic growth in Nigeria (ii) financial inclusion has promoted poverty alleviation in Nigeria through rural credit delivery. The study recommends that the monetary authorities should not only deepen financial inclusion efforts through enhanced credit delivery to the private sector but should also strengthen the regulatory framework in order to ensure efficient and effective resource allocation and utilization.

KW - Economic growth

KW - Financial deepening

KW - Financial inclusion

KW - Poverty alleviation

UR - https://www.scopus.com/pages/publications/85013918107

M3 - Conference contribution

AN - SCOPUS:85013918107

T3 - Proceedings of the 28th International Business Information Management Association Conference - Vision 2020: Innovation Management, Development Sustainability, and Competitive Economic Growth

SP - 4384

EP - 4394

BT - Proceedings of the 28th International Business Information Management Association Conference - Vision 2020

A2 - Soliman, Khalid S.

PB - International Business Information Management Association, IBIMA

Y2 - 9 November 2016 through 10 November 2016

ER -

Uchenna LO, Adetiloye KA, Erin O, Modebe NJ. Financial inclusion: A panacea for balanced economic development. In Soliman KS, editor, Proceedings of the 28th International Business Information Management Association Conference - Vision 2020: Innovation Management, Development Sustainability, and Competitive Economic Growth. International Business Information Management Association, IBIMA. 2016. p. 4384-4394. (Proceedings of the 28th International Business Information Management Association Conference - Vision 2020: Innovation Management, Development Sustainability, and Competitive Economic Growth).

Financial inclusion: A panacea for balanced economic development

Abstract

Publication series

Conference

UN SDGs

Keywords

ASJC Scopus subject areas

Other files and links

Fingerprint

Cite this