Access to Finance: An Empirical Analysis

Financial access is gradually being recognised as an important input to economic development. Using World Bank (2007) database, this study measures the extent of financial access in developed and developing countries. Further, it develops a new Socio-Economic Development Index, which incorporates fi...

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Bibliographic Details
Published in:European journal of development research 2014-12, Vol.26 (5), p.798-814
Main Author: Arora, Rashmi Umesh
Format: Article
Language:English
Subjects:
Banking
Belgium
Cost control
Developing countries
Development and Social Change
Development Economics
Development Policy
Development research
Development Studies
Economic development
Economic growth
Economic policy
Expenditures
Financial services
Financial systems
GDP
Gross Domestic Product
Households
Human Development Index
Income distribution
Industrialized nations
Informal economy
Innovations
LDCs
Literacy
Maternal & child health
Mobile commerce
Original Article
Poverty
Remittances
Social Sciences
South Korea
Spain
Studies
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Summary:Financial access is gradually being recognised as an important input to economic development. Using World Bank (2007) database, this study measures the extent of financial access in developed and developing countries. Further, it develops a new Socio-Economic Development Index, which incorporates financial access. It then compares socio-economic development of various countries as shown by Human Development Index (HDI) alone and by the new index incorporating financial access. The results of the study show that Spain ranks highest in terms of financial access followed by Belgium, Malta and South Korea. In addition, the ranking of countries in terms of HDI changes if financial access is taken into account.
ISSN:0957-8811
1743-9728
DOI:10.1057/ejdr.2013.50