Tác động của tài chính toàn diện đến phát triển con người: Nghiên cứu trường hợp các quốc gia đang phát triển tại Châu Á

Financial inclusion is widely recognized as a critical driver for human development, enabling individuals and households, especially vulnerable groups, to access affordable financial services. This access is vital for improving quality of life, fostering economic stability, and reducing inequality, contributing to comprehensive human development. While numerous studies confirm the positive link, there remains a gap in understanding how the quality of institutions significantly moderates this relationship, particularly in developing economies. The effectiveness of financial inclusion initiatives can be heavily influenced by the institutional environment. This study aims to address this gap by empirically investigating the impact of financial inclusion on human development in Asian developing countries, explicitly incorporating the moderating role of institutional quality to provide nuanced policy insights.

Researchers, policymakers, development practitioners, and academics in the fields of economics, finance, and international development, with a specific interest in Asian developing countries.

This academic study comprehensively examines the complex relationship between financial inclusion and human development in 29 developing countries across Asia. A key distinguishing feature of this research is its detailed exploration of the moderating role played by institutional quality in shaping this impact, a factor often less explored in prior literature. Utilizing a robust panel data set spanning from 2005 to 2021, the research employs advanced econometric techniques, including the Generalized Method of Moments (GMM) and a threshold effect model. This methodological approach allows for the identification of specific thresholds in institutional quality that influence the efficacy of financial inclusion initiatives. The estimation results reveal the existence of two significant threshold values for institutional quality. Crucially, the positive impact of financial inclusion on human development is distinctly observed only when institutional quality surpasses the first identified threshold. Furthermore, this positive impact is substantially amplified once institutional quality exceeds the second, higher threshold. These findings provide compelling empirical evidence that underscores the critical importance of a robust institutional environment in maximizing the benefits of financial inclusion. They suggest that mere provision of financial services is insufficient; it must be coupled with strong governance and effective institutions. The study’s insights offer valuable policy implications for developing countries in Asia. It emphasizes that efforts to promote human development through financial inclusion must be strategically integrated with parallel reforms aimed at enhancing institutional quality. This holistic approach is essential for formulating more effective and sustainable policies that genuinely foster inclusive growth and societal well-being.