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Financial technologies are the fundamental basis and driving force for financial inclusion initiatives, hence facilitating the attainment of the Sustainable Development Goals. This research is extensive and meticulous, focusing on the papers in the Scopus database related to fintech and financial inclusion. The data unequivocally demonstrate that China, India, and the United States are at the forefront of fintech and financial inclusion initiatives. Furthermore, the data reveals a significant increase in the number of articles pertaining to fintech and financial inclusion. The primary contributions in this field are Ozili PK, Banna H, and Zhang Y. Principal ties include Pan-Atlantic University, the University of Professional Studies, and Renmin University of China. This study indicates that successful fintech innovation enhances financial inclusion by bridging the divide between urban and rural communities, eventually contributing to sustainability. Likewise, effective financial innovation fosters increased growth in green investments, green initiatives, and green finance, transitioning economies from a linear to a circular model. The forthcoming research has the potential to enlighten and influence regulators, politicians, and future scholars. [ABSTRACT FROM AUTHOR]

Introduction: Currently, extreme weather events and natural disasters are occurring frequently, and countries around the world are facing a variety of physical climate risks. More and more countries are attempting to embed financial tools into the process of climate risk governance. However, the financial strength of developing countries is insufficient to enhance regional resilience to physical climate risks. Moreover, existing literature mainly focuses on the impact of financial development on greenhouse gas emissions, neglecting its crucial role in adaptation. Discussion: The present study enriches people's understanding at the national level of whether and how financial development is affected by physical climate risks. Additionally, it provides significant reference for financial reforms and physical climate risk governance in other countries and regions from the perspectives of inclusive finance and green finance, utilizing econometric methods. Conclusion: (1) Financial development effectively facilitate the governance of physical climate risk. (2) Green finance and inclusive finance intensify the negative effect of financial development on physical climate risk. (3) Financial development can governance physical climate risk by bolstering technological innovation. (4) Financial development significantly promotes physical climate risk governance only in regions with large populations, resource abundance, well-developed insurance sectors, and strong governmental intervention. Key policy insights Green finance and inclusive finance enhance the positive effect of financial development on physical climate risk governance. Financial development is conducive to the improvement of local technological innovation capabilities, which can help govern physical climate risk. The effective governance of physical climate risk by financial development only occurs in regions with large population size, resource endowment, insurance payout, and the degree of government intervention level. [ABSTRACT FROM AUTHOR]

Financial inclusion (FI) is critical to achieving the Sustainable Development Goals, particularly zero poverty, gender equality, and reduced inequalities, but there is limited evidence of its impacts on household welfare in fragile and post‐conflict countries (FPCCs). This study analyses the impact of FI on household welfare in Liberia using the Liberian Household Income and Expenditure Survey of 2016–2017. For the empirical analysis, we use an inverse probability‐weighted regression adjustment model and separate analyses for male‐headed households (MHHs) and female‐headed households (FHHs) to identify possible gender differences. We find that using mobile money statistically significantly increases household food security for MHHs and FHHs. In particular, the welfare impact is greater for MHHs in terms of food availability, while in relation to food quality and dietary diversity, the impact is greater for FHHs. These findings show the need to scale up FI in FPCCs as a catalyst for improving household welfare. [ABSTRACT FROM AUTHOR]

The article addresses the need for comprehensive analytical frameworks or perspectives in mobile money research. It also proposes and develops a conceptual framework utilizing classical and neoclassical perspectives. The interdisciplinary nature of mobile money studies and the need for robust analytical frameworks or perspectives pose a significant challenge to researchers, creating a political‐economic gap in analyzing mobile money. In this case, classical and neoclassical mindsets bridge this gap in mobile money analysis. Moreover, the article also addresses the following research question: How have classical and neoclassical perspectives influenced the emergence and growth of mobile money in Tanzania throughout the past 15 years? The argument posits that implementing and dismantling neoliberal policies have facilitated the introduction and advancement of mobile money, drawing upon classical and neoclassical principles. In‐depth, unstructured interviews and content analysis from relevant and scholarly sources have been used as data collection methods. Thematic analysis has also been used for data analysis. The findings indicate that researchers can rely on classical and neoclassical perspectives to analyze mobile money's advent, growth, and consolidation. The implications are that classical and neoclassical perspectives provide a context and a unit of analysis that can be used to study the political‐economic issues of mobile money and other digital financial innovations. [ABSTRACT FROM AUTHOR]

Despite an improving financial inclusion situation across the developing world, there still exist wide gender gaps in financial inclusion, especially in fragile and post‐conflict countries. In our study, we designed and implemented a survey consisting of 860 households across urban and rural Burundi to examine the effect of financial inclusion on household asset‐based welfare from a gendered perspective. To address any endogeneity concerns, we apply the two‐stage least squares (2SLS) regression method. We find that most Burundian households prefer to save their money at home rather than at a financial institution. Also, mobile money is mainly employed as a means of receiving and withdrawing cash. Our 2SLS regression results reveal that improved financial inclusion has a greater effect on the welfare of female‐headed households than on male‐headed households. We recommend the use of social networks as an avenue to promote financial inclusion and literacy. Additionally, the Government of Burundi can collaborate with the telecommunication operators to institute small loan schemes through the mobile money platform to enhance access to credit, especially for women. [ABSTRACT FROM AUTHOR]

Mali is a prominent fragile and post‐conflict country, and armed rebellions have cumulatively resulted in over 20 years of conflict since independence. Agriculture is the mainstay of the Malian economy and accounts for about 40% of GDP and employs 80% of the active population. However, the agricultural sector has performed sub‐optimally and food security has not been attained. Financial exclusion and gender inequality have been identified as critical impediments to agricultural productivity. This study conducted an empirical investigation of the effects of financial inclusion and gender gaps on agricultural productivity in Mali. The study made use of data from the Living Standards Measurement Study—Integrated Surveys on Agriculture (LSMS–ISA) for the year 2017 in Mali. The empirical results show that financial inclusion has had a positive and significant effect on agricultural productivity in Mali. In addition, the results demonstrate that gender gaps exist in agricultural productivity, and agricultural productivity of women is lower than that of men. The gender gap in the full specifications was between 44.5% and 49.8%. The study concludes by providing some policy options for improving financial inclusion and thus reducing gender gaps, so as to boost agricultural productivity. [ABSTRACT FROM AUTHOR]

The emergence of digital financial technology emerges as a promising solution, allowing banks to leverage unique digital footprints to alleviate information asymmetry and mitigate the light asset company's financing constraints. Through a theoretical analysis, we reveal that the digital transformation of banks significantly increases loan allocations to SMEs within the cultural industry. This development toward inclusive finance is further substantiated by robust empirical evidence, indicating a notable alleviation of financing constraints, and confirming the quantitative and structural transmission pathways influenced by bank digitalization. [ABSTRACT FROM AUTHOR]

This study evaluates the impact of macroeconomic shocks, financial market volatility, and regulatory and political risks on financial inclusion among developing economies. Data spanning the period from 2001 to 2020 were compiled from a sample of 39 Sub-Saharan Africa (SSA) economies for the analysis. Data analysis was performed using the panel-corrected standard error (PCSE) estimation technique by Beck and Katz (1995). The analysis suggests that macroeconomic risk, financial market volatility, and regulatory uncertainty constrain financial inclusion among reviewed economies. Further results suggest that effective governance or improved governance structures may not be enough to alleviate the adverse effects of macroeconomic risk, financial market volatility, and regulatory uncertainty on financial inclusion. The moderating impact of political instability on the nexus between macroeconomic risk and financial inclusion further highlights the inimical influence of both macroeconomic and political risks on financial inclusion. The various conclusions have significant implications for policymakers; they admonish the need for measures that ensure macroeconomic stability, promote financial market stability, and support unambiguous regulatory policies to foster financial inclusion. [ABSTRACT FROM AUTHOR]

AbstractFinancial inclusion is one of the most critical factors to the long-term success of immigrants in a new country. Despite the known benefits of financial inclusion, how to increase financial inclusion remains one of the most challenging questions facing host countries. While significant efforts have been made by the government, private, and nonprofit sectors, immigrants remain significantly less likely than native-born persons to use mainstream financial services. This study combines interviews with a discrete choice experiment to examine the credit preferences of Cambodian immigrants. The results reveal that in this immigrant community, borrowers place a high value on nonmonetary factors such as approval requirements and trust. The results also suggest that immigrants may be using a poliheuristic two-stage rule wherein they first eliminate lenders whose approval requirements they are unlikely to satisfy and then choose between the remaining lenders based on other criteria such as price. These findings suggest that financial education and credit building at the community level may be the key to increasing financial inclusion rates in immigrant communities. [ABSTRACT FROM AUTHOR]

This study presents an all-inclusive analysis of the literature on the augmentation of financial inclusion through fintech. Ninety-six papers were selected from the 2951 articles in the Web of Science, Scopus, and EBSCO databases. This study uses bibliometric and content analysis techniques to illuminate the underexplored aspects of fintech's impact on financial inclusion. Unlike previous studies, this study consolidates a significant amount of the literature on financial inclusion by systematically contextualizing theories and viewpoints from the fintech sector. The key findings include the identification of three main research clusters: (1) the advent of novel services, (2) the transformation of the market landscape, and (3) the roles of stakeholders in the fintech ecosystem. The analysis reveals gaps in the existing research, such as the need for more studies on the tangible impact of fintech on financial inclusion and regulation. This study concludes by highlighting potential directions for future research and emphasizing the importance of policymakers paying greater attention to fintech's implications for financial inclusion. [ABSTRACT FROM AUTHOR]

Recently, economic environmental degradation is being considered a leading chellenge in forefront of policy analysts. Thus, the present study introduces core environmental determinants such as infrastructure development, finacail inclusion, gross domestic product, population, and renewable energy consumption. Financial inclusion (FI) is crucial for attaining a environment. The present study selects the Organization for Economic Co-operation and Development (OECD) over period of 2004–2022. The results show that financial inclusin, infrastructure development(ID), and renewable energy (RE) play a vital influence in decreasing carbon emissions. The OECD nations should surge their investment in renewable energy and infrastructure development. Furthermore, to ensure long-term environmental sustainability, it is imperative to broaden the scope of FI. Thus, the inclusion of green infrastructure is essential in order to shift from the utilization of fossil fuels to RE sources. Similarly, policymakers should incorporate FI into climate actions at the local, national, and regional levels. However, it is crucial to promote the economic shift towards RE sources in order to mitigate the environmental impact from humn and economic activities. This study is conducive to the execution of the United Nations (UN) Sustainable Development Goals (SDG). [ABSTRACT FROM AUTHOR]

Purpose : This research examines the relationship between Islamic Fintech and corporate social responsibility (CSR) in the pursuit of extending financial use to all layers of society. It aims at understanding key influencers such as Sharia compliance, perceived financial benefits, ease of technology uses and Islamic social responsibility (ISR) in the adoption of Islamic Fintech services. The study further investigates how culture may act as a moderator to the relationship between ISR and the adoption of Islamic Fintech services. Research methodology: Data were collected from 263 respondents in Jordan using a structured questionnaire. The data were analyzed using Smart PLS software to test the proposed hypotheses and evaluate the research model's reliability and validity. Results and findings: The results reveal that Sharia compliance, perceived financial benefits, technological ease of use, and ISR significantly influence the adoption of Islamic Fintech services. The study also finds that cultural resonance plays a crucial moderating role, enhancing the impact of ISR on the adoption of these services. Originality and empirical implications: This paper adds value to the existing literature by attempting a comprehensive analysis assessment of the reasons behind the adoption of Islamic Fintech. It highlights the necessity of connecting the modern-day financial systems and the ethical tenets practiced in societies to facilitate the nonconventional market penetration strategies. Such findings also provide useful articulations for Islamic Fintech providers who intend to respond to the changing dynamics within the rolling out of technology in a religious sustainable financing. [ABSTRACT FROM AUTHOR]

Enhancing agricultural economic resilience is a critical component for ensuring sustainable agricultural development and promoting agricultural modernization. To explore the diverse influencing factors and effective pathways for enhancing agricultural economic resilience in the context of digital transformation in China, this study constructs a theoretical model of data elements empowering agricultural economic resilience based on the "Technology-Organization-Environment" framework. Using dynamic QCA methods, panel data from 30 provinces and municipalities in China from 2012 to 2022 are analyzed to configure the factors influencing agricultural economic resilience. The results indicate that no single variable constitutes a necessary condition for high agricultural economic resilience. With the introduction of time effects, it is found that digital inclusive finance and the necessity of agricultural industry digitalization have been increasing year by year. The patterns of enhancing agricultural economic resilience can be summarized as follows: the market-driven industrial technological innovation ecosystem optimization model, the TOE-enabled agricultural digital development model and the government-led cultural promotion of agricultural digital transformation model, all showing significant temporal and regional effects. Based on these findings, it is recommended that regions strengthen the synergistic interaction among elements in the technology, organization, and environment dimensions and formulate differentiated strategies for enhancing agricultural economic resilience tailored to local economic levels and the actual development of agricultural industries. These insights provide both theoretical and practical value for enhancing agricultural economic resilience in various regions worldwide. [ABSTRACT FROM AUTHOR]

In the contemporary global landscape, understanding the nexus between financial inclusion and natural resource abundance is crucial, especially for resource-rich nations. This study uses diagnostic tests and method of moments quantile regression to examines this interplay across Australia, Brazil, Canada, China, India, Russia, and the United States. We find that achieving financial inclusion is significantly challenging for countries that heavily rely on natural resources. Diversified income sources and equitable wealth distribution are essential to mitigate these challenges. Additionally, we identify a positive correlation between economic development and financial inclusion, highlighting the mutually reinforcing relationship between growth and inclusivity. Our research also reveals a notable link between adopting renewable energy and improving financial inclusion, suggesting that environmental responsibility and financial accessibility are intertwined. Foreign direct investment has nuanced impacts on financial inclusion, adding depth to our understanding. Overall, stable income from natural resources and diversified economic development emerge as key promoters of financial inclusion. These insights advocate for regionally specific policies and lay a solid foundation for future research and informed policymaking that address financial inclusion challenges and advance sustainable development. [ABSTRACT FROM AUTHOR]

This study investigates the effect of microcredit on the growth of microenterprises in the Asante-Akim Central Municipal Area of Ghana. The analysis reveals that while larger loan amounts positively influence business growth, high interest rates and rigid repayment terms impede these benefits. Entrepreneurs with higher education levels report better growth outcomes, emphasizing the significance of financial literacy and management skills. However, the evidence indicates that microcredit alone is insufficient to consistently drive sustainable growth for microenterprises, as structural challenges persist. Practical implications suggest that microfinance institutions (MFIs) should revise loan structures to include lower interest rates, extended grace periods, and flexible repayment options. Additionally, integrating financial literacy programs into microfinance services could enhance loan utilization and business outcomes. These findings challenge the universal applicability of microcredit as a growth catalyst, advocating for tailored approaches to better align financial products with the needs of microenterprises in emerging markets. [ABSTRACT FROM AUTHOR]

Introduction: In order to achieve the sustainable development goal set by the United Nations,it is necessary to promote the green transformation and sustainable development of agriculture. In the context of the global economic digital revolution, examining the impact of digital financial inclusion (DFl) on agricultural green total factor productivity (AGTFP) provided a new perspective for DFl to promote agricultural transformation and upgrading. Methods: Based on balanced panel data for 30 provinces in China from 2011 to 2022, the study used the slack-based measure (SBM) and global malmquist-luenberger (GML) index to measure AGTFP. Then the entropy method was used to measure the basic condition of digital logistics. Finally, causal relationship and potential mechanism of DFI on AGTFP were verified by means of bidirectional fixed effect and two-stage least square method. Results: Our findings are as follows: firstly, DFl significantly increases AGTFP. This conclusion is still valid after a series of robustness tests and endogeneity control. Secondly, land transfer and digital logistics play positive mediating roles in the relationship between DFl and AGTFP. Thirdly, DFl has a higher impact on AGTFP in main grain-producing areas and the production-marketing balanced areas. Discussion: This research provides not only theoretical and empirical support for optimizing China's digital inclusive financial service system and promoting the green development of agriculture but also an important reference for the agricultural development of developing countries. [ABSTRACT FROM AUTHOR]

This study employs a mixed-methods approach to investigate the role of sustainable and green finance in advancing UN sustainable development goals (SDGs). We use quantitative bibliometric methods with machine learning-based BERTopic modeling and case study analysis to reveal trends. This study presents a cocitation analysis of the SDGs to visualize the interconnectedness between goals, highlighting the central role of SDG 13 (climate action) and key linkages with SDGs related to economic growth (SDG 8), industry and infrastructure (SDG 9), clean energy (SDG 7), and environmental sustainability (SDGs 6, 15). The findings indicate that innovations such as green fintech, social impact bonds, and risk models are crucial for facilitating renewable investment and mitigating environmental impacts. The identified barriers include high transaction costs and insufficient institutional frameworks in developing countries, hindering the broader adoption of green finance tools. Case studies from South Africa, Brazil, and other developing nations have examined the implementation of green bonds and loans. They highlight significant efforts by stakeholders to use these financial instruments to support SDGs, particularly SDG 7, SDG 13, and SDG 17 (partnerships). However, challenges such as nascent regulatory environments, market barriers, and capacity constraints persist, inhibiting mainstream integration. Key research avenues include quantifying investment needs, tailoring financial instruments, and developing derisking mechanisms to foster cross-sector coordination and international partnerships. The study underscores the necessity of innovative and inclusive financial mechanisms to mobilize capital flows aligned with the priorities of the Global South. Future research directions include the development of advanced data analytics, adaptation to local contexts, technological integration, and exploration of the social dimensions of sustainable finance. This study provides actionable insights for policymakers, financial institutions, and researchers, emphasizing the crucial role of sustainable finance in driving global sustainability. [ABSTRACT FROM AUTHOR]

Financial resilience is the capacity of individuals to effectively mitigate the impacts of adversities by utilizing appropriate resources. Previous studies primarily assess financial resilience using an ex-post approach, evaluating resilience after a shock has occurred, causing additional stress for households. Conversely, ex-ante assessments rely heavily on economic resources like savings and emergency funds to mitigate adverse effects. However, in developing countries with underdeveloped financial systems, access to financial services is a major challenge. Households in these regions rely on a variety of resources, capabilities, and networks to remain resilient. Thus, both ex-post and ex-ante approaches are limited by being narrow, unidimensional, and backward-looking. This paper posits that financial resilience is a forward-looking, multidimensional concept emphasizing ex-ante preparedness for future adversities using internal and external resources. We propose a financial resilience framework encompassing financial inclusion, financial literacy, digital literacy, participatory decision-making, and social capital. Using data from the 2016 Intermedia's Financial Inclusion Insight Survey of India and employing multivariate statistical techniques, including multiple correspondence analysis and principal component analysis, we develop a composite measure of financial resilience. Our analysis identifies vulnerable segments of the population, suggesting that only about 2% of adults are financially resilient, while one-fourth are financially vulnerable. Specifically, adults in rural areas, females, younger and older individuals, those with low education levels, and individuals without full-time employment are more likely to be financially vulnerable. We discuss policy implications aimed at enhancing financial inclusion, financial and digital literacy, and women's empowerment to better protect against future shocks. [ABSTRACT FROM AUTHOR]

This study conducts a comprehensive bibliometric analysis to explore research trends in financial inclusion and mobile money over the last decade (2014-2023), using data from the Scopus database. Analyzing 439 publications, this study identifies key trends, influential authors, and leading countries in the field. The analysis, supported by tools such as VOS Viewer, reveals dominant themes such as "financial inclusion," "mobile money," and "financial system," with a particular focus on technological advancements and their regional impacts, especially in developing countries. The findings highlight the growing academic interest in mobile money's role in promoting economic development and poverty alleviation. Moreover, this study underscores the significant geographical disparities in research output, with developed economies producing the most research. Insights from this analysis provide guidance for policymakers and researchers to support future financial inclusion initiatives. The study concludes by recommending further exploration of under-researched regions and the qualitative impact of mobile money on socio-economic outcomes. [ABSTRACT FROM AUTHOR]

Financial inclusion can boost wealth, health, and quality of life. However, few studies have examined how women's participation in community-based financial inclusion opportunities, such as village saving and loan groups (VSLGs), relates to household food security. Using program data from central Mozambique, this study examined whether low-income women's participation in VSLGs directly increases household food availability, as well as indirectly through increased asset ownership. Employing a post-test-only comparison group quasi-experimental design, the study sampled 205 female VSLG participants and non-participants from three sub-villages in Mozambique's Sofala province. Structural equation modeling (SEM) results indicated that low-income women's participation in VSLGs is directly associated with a reduction in household hunger score (β = −0.21, p < 0.01), as well as indirectly associated through the mediating role of household assets ([Sobel indirect effect] = −0.06, p = 0.05). The VSLG participants showed a significant increase in household asset ownership compared to non-VSLG participants (β = 0.15, p < 0.05). Further, increased asset ownership significantly correlated with a lower probability of household hunger (β = −0.30, p < 0.01). The results suggest that community-based financial inclusion approaches could improve the availability of food through asset building among Mozambique's low-income women. The study offers a potential strategy for policymakers and development experts to utilize community approaches to financial inclusion to improve rural and low-income women's livelihoods. [ABSTRACT FROM AUTHOR]

Environmental sustainability concerns have led to an increased focus on climate finance, resulting in substantial investments to boost financial sector development. However, recently, climate initiatives have encountered multiple policy uncertainties. This study aims to empirically investigate the impact of U.S. climate policy uncertainty (CPU) on Indian financial inclusion, in addition to exploring the moderating role of institutional quality on the aforementioned relationship. To achieve the above objectives, we first constructed two separate indexes for financial inclusion using the weighted method and principal component analysis. Next, to empirically estimate the above relationship, we employed the two-step system-generalized method of moments (Sys-GMM) and the sequential (two-stage) linear panel data model (SELPDM) on the sample data from 2000–2022. The Sys-GMM estimate test validated that climate policy uncertainty negatively influences India's financial inclusion. However, institutional regulation and governance assist in moderating the negative influence of U.S. climate policy uncertainty on Indian financial inclusion initiatives. Furthermore, the study also confirmed that various dimensions of institutional regulation and governance exert a positive and significant effect on financial inclusion. Finally, the study validates that economic growth and technological advancement assist financial inclusion initiatives in India. The study is an original work and offers several policy recommendations. [ABSTRACT FROM AUTHOR]

Financial inclusion has recently emerged as an important pillar for sustainable economic growth, poverty eradication, and social transformation globally. While the effects of institutional quality on financial inclusion have been widely investigated, their long-term effects have largely been underexplored, particularly for the Asia–Pacific region. We are especially interested in these long-term effects because institutional reforms require time for implementation and their impacts on various socioeconomic issues are only gradually observed. This paper has developed a new index of institutional quality for countries in the Asia–Pacific region from 2004 to 2020 using the principal component analysis. We estimate the long-term effects of institutional quality on financial inclusion using long-term estimators, including the augmented mean group and the common correlated effects mean group estimators. In our study, institutional quality is proxied by the new index developed in this paper and then by each of the five fundamental aspects of institutional quality: (i) business freedom, (ii) regulatory quality, (iii) investment freedom, (iv) government effectiveness, and (v) the rule of law. We find that improved institutional quality is fundamental to achieving financial inclusion in the region. These effects are particularly prominent in high-income countries in the Asia–Pacific region. However, a closer look at these long-term effects reveals that this effect is conditional on the income level. Interestingly, this long-term effect can be established for high-income countries such as Australia and Japan but not for Singapore. In addition, in the case of middle-income countries, the long-term effect can be confirmed for countries such as Malaysia, Indonesia, and the Philippines but not for Thailand and Vietnam. Our results show that institutional reform, albeit very important, should not be considered the only fundamental pillar ensuring financial inclusion, sustainable economic growth, and social transformation in the long run. [ABSTRACT FROM AUTHOR]

The objective is to present a proposal for a gender-sensitive risk analysis model using artificial intelligence (AI) within the framework of complex thinking that provides access to opportunities, specifically for vulnerable populations such as women from underprivileged sections. This international non-parametric study highlights the vulnerability of this population in Mexico through a sample of 2787 women. The methodological design included data analysis, the postulation of a proposed model, and a validation method for the credit risk analysis model. There is a correlation between the level of schooling of impoverished and vulnerable women with the possibility of self-employment and selling a product or service. In the framework of complex thinking, the perception of innovative thinking is related to the level of education and innovative decision-making in professional projects. Women with a higher level of schooling tend to think about their professional projects systematically. Promoting complex thinking involves innovative educational practices to encourage critical, systemic, scientific, and innovative thinking in entrepreneurship and sustainable development. Integrating reasoning for complexity benefits women and contributes to economic and social growth in vulnerable regions. In contrast to other models, our credit risk analysis model uses AI and variables for gender, vulnerability, and complex thinking to detect patterns in women's behaviors and attitudes in the venture start-up process. Our proposal is the starting point of many analyses to develop further about artificial intelligence based on complex thinking. [ABSTRACT FROM AUTHOR]

This study aims to conduct a thorough analysis to determine the key elements that contribute to the behavioral intention of small and medium enterprises (SMEs) to adopt green transition. The statistical data used in this study were obtained from two rounds of data collected from individuals working in SMEs. This work utilized structural equation modeling to analyze the hypothesized interlinks. The analysis of the results confirmed the positive relationships between key elements in terms of their significance and effect size. The most stable elements of intention of green transition implementation were determined based on the degree of stability of the findings. In addition to expanding our understanding of the advantages of green transition in SMEs, the results of this study can provide guidance to SME leaders on how to improve their efficiency and effectiveness in the process of green transition practices. A more detailed understanding in this research can provide policymakers with the ability to establish laws and regulations for the transition towards sustainability. [ABSTRACT FROM AUTHOR]

We explore whether digital inclusion, a public policy designed to provide high-speed internet infrastructure for historically digitally excluded populations, is associated with the social and ethical challenge of financial inclusion. Using evidence from a sizable P2P lender in the U.S., we document that digital inclusion is positively associated with P2P lending penetration and that this relation is more pronounced in counties with limited commercial bank loan penetration and higher minority populations. Our new evidence from cross-sectional tests suggests that digital inclusion plays a key role in financial inclusion, particularly in regions with more vulnerable and/or underserved populations. In consequence tests, we document that high-risk borrowing is less likely to be denied in counties with higher digital inclusion and that digital inclusion is positively associated with P2P lending efficiency in the form of more repeated borrowing, decreased funding time, and improved funding fulfillment. In addition, we show that the availability of alternative information, a plausible channel through which digital inclusion is related to financial inclusion, is positively associated with efficiency in P2P lending. Our findings indicate that digital inclusion can empower financial service providers and other stakeholders to collaboratively fulfill their ethical and social responsibilities to meet the financial needs of historically marginalized groups. [ABSTRACT FROM AUTHOR]

Effective savings mechanisms are crucial for household resilience and economic growth. Savings accounts, whether from banks or mobile-phone based, offer an alternative to informal saving mechanisms as they provide safe and private cash storage. However, there is still no clear evidence on how the use of digital tools can contribute to increasing farmers' savings, compared with other financial tools such as bank accounts or keeping cash at home. To address this gap, we investigate factors affecting cocoa farmers' decisions to save, as well as their savings amounts. Shedding light on saving determinants, we answer the question of whether formal and semi-formal accounts play a major role in savings accumulation. For our study, we employ data from a structured telephone survey conducted in 2021 among 405 randomly sampled cocoa farmers. Results from an interval regression suggest that bank account usage is associated with higher savings amounts. In contrast to male cocoa farmers, females seem to use mobile savings tools to their benefit. Our analysis further reveals the importance of education in household financial resource management. We provide valuable results for public policymakers and the private sector towards responsible financial inclusion and pro-poor development of digital financial services. [ABSTRACT FROM AUTHOR]

The role of Microfinance institutions (MFIs) in driving financial inclusion is contested. We argue that the ability of MFIs to consistently contribute to financial inclusion depends on their business model and its resilience to structural changes. We find that MFIs with an embedded business model (i.e., deep engagement with the local community) perform better in the aftermath of structural policy interventions as compared to MFIs with a transactional model. Using a difference in differences analysis on a database of MFIs that operated in India during the currency demonetization, we find support for our hypotheses. Our findings indicate that while transactional MFIs do better in a stable environment, embedded MFIs hold the advantage in a turbulent environment. Our results underscore the role of business model fit with the environment in driving financial inclusion. We also alert practitioners to the tradeoffs involved in being embedded in the local context (or lack thereof). [ABSTRACT FROM AUTHOR]

This study aims to determine the efficiency level of the Turkish banking sector within the framework of financial inclusion and digitalization. Data Envelopment Analysis (DEA), which is a nonparametric method, is utilized to determine bank efficiency. As a result of the analysis conducted over a thirteen-year period, from 2011-2012 to 2022- 2023, the efficiency levels of the banks are determined on a year-by-year basis. The findings obtained from the analysis show that relative efficiency scores differ over the period under consideration and relative efficiency is achieved in a total of four years. However, it is also observed that the efficiency level of the banking sector increased in the years when the level of financial inclusion increased. This suggests that banks should focus more on financial inclusion. The analysis emphasizes the role of the banking sector on financial inclusion and the steps to be taken in this regard, and the findings are expected to make important contributions to literature. [ABSTRACT FROM AUTHOR]

With the rapid development of technology and the evolution of the global financial system, digital inclusive finance has become a new way to promote rural revitalization and rural residents' consumption with the power of financial technology. This study explores the relationship between digitally inclusive finance, rural revitalization, and rural residents' consumption. Based on the panel data of 30 provinces and cities in China from 2011 to 2021, this study empirically examines the impact of digitally inclusive finance on rural residents' consumption and the mediating and threshold effects of rural revitalization. The results reveal that digitally inclusive finance is conducive to the enhancement of rural residents' consumption, and rural revitalization acts as a mediator. Meanwhile, there is a nonlinear positive correlation between the impact of digitally inclusive finance and rural revitalization on rural residents' consumption, in which there is a double-threshold effect of digitally inclusive finance and rural revitalization in the lagged period. Based on the above findings, we believe that while promoting digitally inclusive finance, it is important to promote rural revitalization strategy in a timely manner, improve rural infrastructure, and continuously stimulate the impact of digitally inclusive finance on rural residents' consumption. [ABSTRACT FROM AUTHOR]

Motivation: The level of financial inclusion has increased markedly in Namibia in recent years. Currently, 78% of the population is considered to be financially included. More importantly, this increase has largely derived from vulnerable groups, including low‐income earners living in rural areas. Although there has been an increase in the rate of financial literacy, there is no formal empirical analysis showing the extent to which improved access to formal financial services is associated with financial literacy. Purpose: This article deepens the empirical analysis of financial literacy by simultaneously considering their effects on savings, bank account ownership, and access to credit and insurance in Namibia. We further disaggregated the analysis to consider heterogeneity between men and women, as well as between rural and urban populations. Approach and methods: We used data from the Namibia Financial Inclusion Survey of 2017 and the instrumental variable probit model to minimize the bias from possible endogeneity caused by potential measurement error, unobserved variable bias, or reverse causality. Findings: The study showed that financial literacy significantly increases the likelihood of people using formal financial products. Failure to adequately control for the associated bias would lead to substantial overestimation of the impact of financial literacy. Estimates from the disaggregated analysis showed that the impact of financial literacy differs significantly between rural and urban populations, as well as between men and women. The effects are higher for males than for females and for rural than urban sub‐samples. Policy implications: The positive effect of financial literacy on formal financial products suggests that policy options that promote financial literacy are crucial for improving access to formal financial products, particularly for men and the rural population. These policies could include the introduction of financial literacy programmes in schools in order to enhance personal financial knowledge and participation in the formal financial sector. Emphasis should be placed on the raising of awareness, especially among disadvantaged communities, as to the benefits of owning and operating different financial products and on the inclusion of financial literacy programmes on public television. [ABSTRACT FROM AUTHOR]

In India, the banking sector plays a pivotal role in driving economic growth and ensuring financial inclusion across diverse populations. With rapid advancements in technology and increasing customer expectations, personalized banking solutions have become essential to address varying financial needs. This paper presents a personalized banking recommendation system that leverages user data, including financial behaviour, income, age, location, and spending patterns, to provide tailored banking services. The system integrates financial analytics with customer relationship management to offer customized product recommendations such as loans, investment plans, and savings accounts. Advanced machine learning algorithms analyse user-specific data and real-time interactions to enhance service relevance and customer satisfaction. The study highlights the importance of aligning personalized banking strategies with regulatory frameworks, data privacy, and regional financial literacy levels. A comparative analysis of customer engagement and retention demonstrates the system's effectiveness in fostering trust and long-term relationships. This paper underscores the potential of technology driven, personalized banking solutions to improve financial inclusion, customer satisfaction, and operational efficiency while addressing the unique challenges of the Indian banking ecosystem. [ABSTRACT FROM AUTHOR]

The article discusses the challenges faced by African central banks in achieving board independence and adaptive performance. It highlights the importance of board independence in making autonomous monetary policy decisions and the need for adaptive performance to navigate dynamic economic environments. The article suggests reforms to strengthen central bank independence, including revising ownership models and enhancing transparency and accountability. It also calls for improved selection and training of board members, risk management, and decision-making processes. The authors emphasize the need for tailored solutions based on the specific circumstances of each central bank and emerging market. [Extracted from the article]

Crowdfunding has recently emerged as a viable alternative funding source for renewable energy development and a driver of inclusive financial development and green economic growth; nevertheless, there exists limited empirics on the environmental contributions of crowdfunding. This study, therefore, closes this lacuna by examining the effect of crowdfunding on carbon dioxide emissions (CO2E). Applying a dataset encompassing 32 countries spanning 2013 to 2020, we find that crowdfunding reduces CO2E, with a 10% increase in crowdfunding leading to about 0.1% reduction in CO2E. The analysis also reveals that crowdfunding reduces CO2E only after attaining a threshold of 5.938, around $379 million. The mechanism analysis shows that crowdfunding decreases CO2E through economic growth and financial development. Finally, there exists feedback causality between crowdfunding and CO2E. [ABSTRACT FROM AUTHOR]

Copyright of Mexican Journal of Economics & Finance / Revista Mexicana de Economia y Finanzas is the property of Instituto Mexicano de Ejecutivos de Finanzas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

While the global economy has witnessed robust economic performance over the past few years, millions of households remain financially deprived. This indicates that universal access to financial services is critical for the global community to achieve the United Nations' sustainable development goals (SDGs). Although there is a burgeoning body of literature on the nexus between financial inclusion and income inequality, empirical evidence on the contribution of financial inclusion and institutional quality to income inequality remains sparse. This research, therefore, examines the effect of financial inclusion and institutional quality on income inequality in Brazil, Russia, India, China, and South Africa (BRICS) economies from 2004 to 2015. The empirical analysis employed the cross-sectional autoregressive distributed lag (CS-ARDL) and common correlated effects mean group (CCEMG) techniques to obviate cross-sectional dependency and heterogeneity concerns. The empirical outcome demonstrates that financial inclusion promotes income inequality reduction in BRICS economies in the long and short run. Additionally, improvements in institutional quality further enhance the accessibility and usage of financial services by financially excluded individuals, thereby fostering equitable income distribution in the BRICS countries. Based on these findings, BRICS economies need to increase their awareness of the available financial services, effective microfinance, financial capability, and infrastructural access in rural areas to improve financial inclusivity and thus promote equitable income distribution. JEL Classification D02, D33, E02, G21, O15 [ABSTRACT FROM AUTHOR]

The present study explores the factors affecting digital finance adoption in micro units towards deepening of financial inclusion in the Indian context. This study combines perceived usefulness, perceived ease of use, behavioural intention, adoption, and actual usage from TAM3 with perceived risk and trust from Prospect Theory. Further, the study also investigates the moderating role of peer influence and government support in improving digital finance adoption amongst micro units. A structured questionnaire has been used for collecting the quantitative data from two cities of India, viz. Mumbai and Ahmedabad. The proposed model has been analysed statistically using PLS-SEM. The study empirically demonstrated that perceived usefulness; perceived ease of use, and perceived risk have a significant bearing on behavioural intention to adopt digital finance. It also validates the moderating role of peer influence and government support in digital finance adoption. The study findings demonstrate empirically that digital finance has a positive impact on the financial inclusion of micro units in India. This study focuses exclusively on micro units in India, and this depicts its novelty. [ABSTRACT FROM AUTHOR]

This study investigates the main effects and the interaction effects of race and education on entrepreneurial intentions in the pre-startup phase, using logistic regression analysis on a sample of 967 respondents from Florida. Blacks and Other Nonwhites are compared to Whites in the logistic regression analysis. As the largest empirical study of its kind at the state level in the U.S., it addresses a gap in the literature by focusing on a narrowly defined geographic area. The findings reveal significant differences in entrepreneurial intentions among racial groups, with education playing a crucial role. Policy implications include the need for tailored support programs and inclusive financial products to foster a more equitable entrepreneurial ecosystem. This study underscores the importance of entrepreneurial education and highlights the necessity for ongoing research to understand the unique challenges faced by Nonwhite entrepreneurs, ultimately contributing to a more inclusive and dynamic economy. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to examine the dynamics of the market development of Islamic banking in Pakistan. This study investigates how shocks to the economy in the form of changes in benchmark rate and exchange rate and internal factors such as efficiency, profitability and asset quality affect the development of Islamic banking. The study also evaluates the impact of Islamic banking on the real economy in the macro perspective and society at large in terms of inclusiveness, competitiveness and fairness. Design/methodology/approach: Autoregressive distributed lagged model method is used for analysing the short-run and long-run determinants of market development of Islamic banking and the economic impact of Islamic banking on the real economy. Findings: Profitability and exchange rate have a positive effect on market development of Islamic banking while higher inefficiency and interbank rate have a negative effect. On the other hand, financing intensity and profitability in Islamic banking positively affect the large-scale manufacturing sector. Practical implications: Stable profits, high asset quality, efficiency and rising import demand with low policy rate environment complement Islamic banking growth. Moreover, the economic assessment shows that Islamic banks have been able to achieve the financial inclusion of those who want to avoid Riba, but they need concerted efforts to improve competitiveness and distinction with regard to distributional impact. Originality/value: To the best of the authors' knowledge, this is the first study in Pakistan to evaluate determinants of market development of Islamic banking taking 16-year quarterly data and assessing the economic effects of Islamic banking on inclusiveness, competitiveness and fairness. [ABSTRACT FROM AUTHOR]

The article looks at four phases of state engagement in financial inclusion. The first phase of involvement is classified as nationalisation, where the state takes control of both the strategic and operational control of a significant part of the market. The second phase is where the state can test the viability by retaining control but distinguishing between the departmental approach and a special purpose vehicle, which works on market principles. The third phase comes when the state is convinced that the market principles operate and therefore a part of the pie could be occupied by the market players, and the final phase is where the state can theoretically operate through policy and regulation without active participation in the market. The article looks at the evolution of the Indian banking sector through these four phases and concludes that we have passed the nationalisation phase. The state-owned Regional Rural Banks and the entire cooperative and community-owned structures are in the corporatisation phase that needs recapitalisation backstopping from time to time. The state-owned commercial banks have reached the disinvestment phase, and commercial banking in India, including the universal banks and the small finance banks, is in the privatisation phase. JEL Codes: D63, G18, G20, G21, G28, L32, L38 [ABSTRACT FROM AUTHOR]

Fiscal and monetary policies are pursued independently to achieve their respective assigned goals, though broad synchronisation of the two is essential for overall consistency and efficiency. The article discusses three issues in synchronisation of the two policies, where the monetary policy actions follow, and do not precede, the fiscal policy actions. The first issue is regarding the implications of the Union Budget on the monetary policy and is considered with the Union Budget 2023–2024. The second issue is regarding the implications of tax-evaded income and recent trends therein on the credit growth in the economy. The third issue is about the consistency of the definitions of the rural areas followed in the two policies and their impact on the goal of financial inclusion in the country. JEL Codes: E52, E58, E61, E62, E63 [ABSTRACT FROM AUTHOR]

Financial inclusion of the unbanked masses is a critical step that requires political will, bureaucratic support, and consistent efforts by the central bank. Financial inclusion is expected to unlock the significant untapped potential of the bottom-of-pyramid section of the economy. India has made remarkable strides in enhancing financial inclusion, with notable progress in the areas of access, usage, and quality. This study delves into the status of financial inclusion in India, backed by financial technology and innovations. The aim is to assess the access and usage of financial inclusion in India. To fulfil this objective the analysis has been carried out in four steps. The overall period of analysis ranges from 2010 to 2022. The results reveal that there has been phenomenal progress in terms of access and usage of financial services in the country in the last decade. The study also highlighted the key challenges attributed to financial inclusion in India categorised into socio-economic, geographical, and structural factors. [ABSTRACT FROM AUTHOR]

This paper is an attempt to examine the scale efficiency and its determinants of small finance banks in India operating in the country since 2017. Since these banks are set up with an objective of financial inclusion by spread of banking services to the hitherto neglected and unbanked regions of the country, their healthy performance is crucial. The 21st Century shifted attention to efficiency analysis of productive units as a measure of performance. The present study uses non parametric Data Envelopment Analysis (DEA) technique to assess efficiency. The study found further possibilities of improvements in scale efficiency of banks. Besides, most of the banks are found to be performing at sub optimally large scale which therefore requires these banks to scale down their operation. Further, (Credit to Deposit) CD ratio, financial inclusion, and inflation were found to be the major drivers of scale efficiency of these banks. The study provides appropriate recommendations based on these findings. [ABSTRACT FROM AUTHOR]

Decentralized Finance (DeFi) is a recent advancement of the cryptocurrency ecosystem, giving plenty of opportunities for financial inclusion, innovation, and growth domains by providing services such as lending, borrowing, and trading without traditional intermediaries. However, inadequate regulatory oversight and technological vulnerabilities raise pressing concerns around market manipulation, fraud, and regulatory compliance, exposing a clear research gap in effective DeFi risk management. This paper addresses this gap by proposing a utility-based framework to evaluate six leading DeFi tracking platforms—Chainalysis, Elliptic, Nansen, Dune Analytics, DeBank, and Etherscan—focusing on two critical metrics: transaction accuracy and real-time responsiveness. Applying a mixed methods approach that combines a quantitative survey (n = 138) with qualitative interviews (n = 12), we identified critical platform features and found significant differences across these platforms with respect to compliance features, advanced analytics, and user experience. We used a utility-based model that links accuracy and responsiveness metrics, allowing us to adjust differing priorities and risk management needs for users. The results show the need for balanced, user-centric solutions that accommodate regulatory, technological efficiency and affordability requirements. Our study contributes to the growing knowledge base by providing a structured evaluation model and empirical insights, offering clear directions for practitioners, platform developers, and policymakers aiming to strengthen the DeFi ecosystem. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Economía (Universidad Autónoma de Yucatán) is the property of Universidad Autonoma de Yucatan, Facultad de Economia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The Yangtze River Delta (YRD) occupies 2.1% of China's territory but accounts for 1/4 of its GDP. Boosting efficiency of industrial water resources in YRD will drastically decrease water pollution and resource constraints. The current paper employed Network Super-SBM and the Global Malmquist-Luenberger index to evaluate industrial water use efficiency and wastewater treatment efficiency of YRD' cities. Furthermore, digital inclusive finance and green innovation are introduced to investigate the mechanisms underlying their influence on the overall industrial water resources efficiency. The empirical findings posts that: (1) there is still room to improve the overall efficiency, especially the water treatment efficiency; (2) the MI value of each stages in most samples is greater than 1, indicating that the water treatment efficiency and water use efficiency are improving. It is mainly driven by the improvement of the efficiency of the management; (3) there are substantial differences in water resource efficiency among metropolitan areas, with Nanjing-metropolitan areas and Hefei-metropolitan areas having higher water use efficiency and water treatment efficiency for both stages, while Hangzhou-metropolitan areas and Shanghai-metropolitan areas have lower water treatment efficiency. As shown by the Kernel density Estimation, the degree of efficiency dispersion within same metropolitan area is reducing; and (4) digital inclusive finance will boost overall efficiency and water treatment efficiency, with green innovation as a mediating factor. The findings herein offer compelling evidence that financial development increases the effectiveness of water resources, introduce fresh perspectives for the government to put forward water-related policies, and provide ideas for high-quality economy. [ABSTRACT FROM AUTHOR]

Agriculture, a sector vulnerable to climate change, relies heavily on debt to invest in modern technology for efficiency and increased production in the face of changing climatic conditions. Despite this, a large group of smallholder farmers in South Africa are excluded from accessing credit at commercial banks, yet they make up a significant proportion of the farming population. The current funding framework in South Africa encompasses the five Cs of credit with a complex view of climate risk. Therefore, this study aimed to propose a simple climate-inclusive credit approach tailored for smallholder farmers. Specifically, this study (1) profiled the respondents and identified the status quo of credit access at commercial banks of smallholder farmers and (2) assessed smallholder farmers' compliance with the determinants of the credit application outcome determined by commercial banks. This study used a semi-structured questionnaire to collect data from 223 smallholder farmers, who were interviewed through a referral system in two provinces. Descriptive statistics and a logistic regression model were used to analyse the data. The results reveal that the majority (71.75%) of farmers were female, with an average age of 49 years. This study also established that a substantive number of smallholder farmers operated in communal lands without a title deed, posing a challenge in accessing bank credit. The results from the logistic regression model show that the five Cs of credit were significant in determining the decision to apply for a credit facility at the bank. The model further showed a positive relationship between climate-resilient technologies/assets and credit accessibility. This study recommends the need for a simple climate-inclusive credit model that considers climate change so as to foster climate change resilience. This study suggests that banks look at the ownership of assets that promote climate resilience when it comes to assessing the credit applications of smallholder farmers. [ABSTRACT FROM AUTHOR]

Capital flow and aggregation are pivotal to regional coordinated development, and the innovations within the financial industry have introduced significant changes. This study examines the potential impact of digital inclusive finance on regional capital aggregation. By analyzing city data from China between 2011 and 2020, we find that the development of digital inclusive finance exhibits an inverted U‐shaped effect on regional capital aggregation. During the initial stages of digital inclusive finance development, it promotes regional capital aggregation; however, beyond a certain threshold, there is a fostering of capital outflow. The impact mechanism reveals that digital inclusive finance exerts a nonlinear effect on the efficiency of regional capital allocation, thereby altering the regional capital aggregation level. Furthermore, enhancing human capital levels can accelerate this process, whereas increased government intervention may impede it. This study contributes to the theoretical research on factors influencing capital flow across regions and offers significant implications for utilizing digital inclusive finance to narrow the regional capital allocation gap and promote coordinated regional development. [ABSTRACT FROM AUTHOR]

This paper gives insight into innovative facilities' role in the effect of economic freedom on inclusive finance in sub‐Saharan Africa (SSA) using data from 2008 to 2020. After using the generalized method of moment for the analysis, the study concluded that improving economic freedom promotes financial inclusion while expanding innovative facilities in SSA inhibits inclusive finance. The study also discovered that innovative facilities improve the impact of economic freedom on inclusive finance in SSA and subsequently diminish the effect of economic freedom on inclusive finance after certain thresholds (mobile usage 100.75, internet usage 34.1064, fixed broadband usage not applicable, telephone usage 13.3494, and innovative facility index 1.5619). Hence, policymakers are advised to increase freedom in SSA economies to boost financial inclusion by ensuring the bureaucracy for establishing financial institutions is minimized and institutions that ensure property rights and free will are instituted to encourage people to participate in financial services. When it comes to using innovative facilities to enhance freedom‐induced inclusivity in finance, technical and financial knowledge should be enhanced in addition to lowering the cost of using innovative facilities to access financial services in order to eliminate the threshold levels at which innovative facilities reduce inclusive finance SSA. [ABSTRACT FROM AUTHOR]

The fintech revolution has many ramifications for the financial market microstructure, regulatory framework and entire society. Policymakers across the world have begun to pin their hopes on digital initiatives and the fintech for financial inclusion. They believe that the fintech can lead to better access to finance. This study provides a thematic analysis of the qualitative data leading to four major themes in the newly evolving Indian fintech landscape. The themes that emerged from the in-depth interviews with the key informants, are evolution, potential, market strategy and regulatory. The findings suggest that fostering training and awareness amongst the customers is imperative to build up their trust. Regulatory interventions should also be based on proper engagement and learning with other stakeholders of the ecosystem. [ABSTRACT FROM AUTHOR]