Macroeconomic soundness and financial inclusion: catalysts for developing robust financial markets in emerging economies

Josephine Ofosu-Mensah Ababio; Eric B. Yiadom; Daniel Ofori-Sasu; Eric Osei-Assibey; Joseph K. Tuffour

doi:10.1080/17520843.2024.2419761

Macroeconomic soundness and financial inclusion: catalysts for developing robust financial markets in emerging economies

Josephine Ofosu-Mensah Ababio
, Eric B. Yiadom
, Daniel Ofori-Sasu
, Eric Osei-Assibey
, Joseph K. Tuffour

University of Professional Studies, Accra

Research output: Contribution to journal › Article › peer-review

1 Citation (Scopus)

Abstract

This study examines the relationship between financial inclusion and financial market development in emerging economies, emphasizing macroeconomic conditions. Using panel SGMM and Granger causality, it finds that financial inclusion fosters financial market growth, with stronger effects in robust macroeconomic environments. Financial inclusion positively or neutrally impacts banking and capital markets, amplified by sound macroeconomic factors. The findings highlight the importance of inclusive financial systems for advancing financial markets, influenced by national savings, trade, private capital flows, and regulatory quality.

Original language	English
Journal	Macroeconomics and Finance in Emerging Market Economies
DOIs	https://doi.org/10.1080/17520843.2024.2419761
Publication status	Accepted/In press - 2024

UN SDGs

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

SDG 8 Decent Work and Economic Growth

Keywords

Financial inclusion
emerging markets
financial market development
inclusive financial system
macroeconomic conditions

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10.1080/17520843.2024.2419761

Cite this

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title = "Macroeconomic soundness and financial inclusion: catalysts for developing robust financial markets in emerging economies",

abstract = "This study examines the relationship between financial inclusion and financial market development in emerging economies, emphasizing macroeconomic conditions. Using panel SGMM and Granger causality, it finds that financial inclusion fosters financial market growth, with stronger effects in robust macroeconomic environments. Financial inclusion positively or neutrally impacts banking and capital markets, amplified by sound macroeconomic factors. The findings highlight the importance of inclusive financial systems for advancing financial markets, influenced by national savings, trade, private capital flows, and regulatory quality.",

keywords = "Financial inclusion, emerging markets, financial market development, inclusive financial system, macroeconomic conditions",

author = "\{Ofosu-Mensah Ababio\}, Josephine and Yiadom, \{Eric B.\} and Daniel Ofori-Sasu and Eric Osei-Assibey and Tuffour, \{Joseph K.\}",

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year = "2024",

doi = "10.1080/17520843.2024.2419761",

language = "English",

journal = "Macroeconomics and Finance in Emerging Market Economies",

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T2 - catalysts for developing robust financial markets in emerging economies

AU - Ofosu-Mensah Ababio, Josephine

AU - Yiadom, Eric B.

AU - Ofori-Sasu, Daniel

AU - Osei-Assibey, Eric

AU - Tuffour, Joseph K.

PY - 2024

Y1 - 2024

N2 - This study examines the relationship between financial inclusion and financial market development in emerging economies, emphasizing macroeconomic conditions. Using panel SGMM and Granger causality, it finds that financial inclusion fosters financial market growth, with stronger effects in robust macroeconomic environments. Financial inclusion positively or neutrally impacts banking and capital markets, amplified by sound macroeconomic factors. The findings highlight the importance of inclusive financial systems for advancing financial markets, influenced by national savings, trade, private capital flows, and regulatory quality.

AB - This study examines the relationship between financial inclusion and financial market development in emerging economies, emphasizing macroeconomic conditions. Using panel SGMM and Granger causality, it finds that financial inclusion fosters financial market growth, with stronger effects in robust macroeconomic environments. Financial inclusion positively or neutrally impacts banking and capital markets, amplified by sound macroeconomic factors. The findings highlight the importance of inclusive financial systems for advancing financial markets, influenced by national savings, trade, private capital flows, and regulatory quality.

KW - Financial inclusion

KW - emerging markets

KW - financial market development

KW - inclusive financial system

KW - macroeconomic conditions

UR - https://www.scopus.com/pages/publications/85210499365

U2 - 10.1080/17520843.2024.2419761

DO - 10.1080/17520843.2024.2419761

M3 - Article

AN - SCOPUS:85210499365

SN - 1752-0843

JO - Macroeconomics and Finance in Emerging Market Economies

JF - Macroeconomics and Finance in Emerging Market Economies

ER -

Macroeconomic soundness and financial inclusion: catalysts for developing robust financial markets in emerging economies

Abstract

UN SDGs

Keywords

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