Financial inclusions, human capital and economic growth in Asian countries Online publication date: Fri, 05-Jul-2024
by Van Chien Nguyen
International Journal of Management Practice (IJMP), Vol. 17, No. 4, 2024
Abstract: The aims of the research are to evaluate the impact of financial inclusions on economic growth in typical Asian countries, especially in relation to the interaction with human capital, emphasising the knowledge and skills that a person acquired through training and accumulation, is a fundamental source of economic activities. Using a sample panel data from 2011 to 2019, the research uses the feasible generalised least squares (FGLS) to revise the diagnostic problems in the regression model, as well as the Driscoll-Kraay standard errors to treat the cross-sectional dependence. The research results show that financial inclusion and human capital have a positive impact on growth. Furthermore, the interplay of these two factors has the potential to further increase economic growth. The research also suggests that there exists a positive relationship of FDI and there exists no relationship between technological contribution and financial development on economic growth in Asia.
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