Research Article
BibTex RIS Cite

Digital Divide, Credit Financing and Financial Inclusion: Changing Patterns of Poverty, Employment and Income Inequalities

Year 2023, Volume: 3 Issue: 1, 21 - 41, 28.07.2023

Muhammad Ayub Mehar

Abstract

The role and effectiveness of financial inclusion and information technology to protect the lower income groups has become an important area of concern after Covid-19. The main objective of this study is to examine the impacts of information technology on poverty, income inequality and unemployment. The study is based on 14 years data of 148 countries. The results are statistically significant and parameters are robust in different alternative scenarios. Empirical evidences confirm the effectiveness of the use of internet, mobile banking and credit flows by fintech and big technology companies for poverty alleviation, creation of employment and GDP growth.

Keywords

Credit financing Fintech companies Gini-index Poverty headcount

References

  • Alesina, Alberto and Dani Rodrik (1994). Distributive Politics and Economic Growth; Quarterly Journal of Economics, 109 (2), 465–490
  • Aloysius Uche Ordu, Ali Zafar, and Jan Muenc (2021). Regional Integration in West Africa: Is West Africa ready for a single currency? Brookings Institution, 2021 (July)
  • Ashoka Mody (2018). Euro Tragedy: A Drama in Nine Acts. Oxford: Oxford University Press, 2018
  • Asian Development Bank (2010). Key Indicators for Asia and the Pacific 2010: The Rise of Asia’s Middle Class (Special Chapter). Mandaluyong City, 2010.
  • Banerjee, Abhijit and Esther Duflo (2008). What is Middle Class about the Middle Classes around the World? Journal of Economic Perspectives. 22 (2); 3-28
  • Belesity Bekalu Ayenew (2022). The Impact of Foreign Financial Inflows on the Economic Growth of Sub-Saharan African Countries: An Empirical Approach. Cogent Economics and Finance, Vol 10 No.1, 1-12
  • Bogle, John (2005). The Battle for the Soul of Capitalism. Yale University Press, 2005
  • Bosworth, Barry (1975). The Stock Market and the Economy. Brooking Papers on Economic Activity, Vol. 75 (2), 257-300
  • Bonga‑Bonga L. and Mabe Q M (2019). How Financially Integrated are Trading Blocs in Africa? Quarterly Review of Economics and Finance; 75 (84)
  • Charis Vlados, Dimos Chatzinikolaou, and Badar Alam Iqbal (2022). New Globalization and Multipolarity: A Critical Review and the Regional Comprehensive Economic Partnership Case. Journal of Economic Integration, Vol. 37, No. 3, 458-483
  • Christian Haddad and Lars Hornuf (2019). The Emergence of the Global Fintech Market: Economic and Technological Determinants. Small Business Economics, Vol. 53; 81-105
  • Credit Suisse Research Institute (2019). Global Wealth Report; Credit Suisse AG, 2019 (www.credit-suisse.com)
  • Darjana Darjana, Wiryono, S.K., Koesrindartoto, D.P. (2022). The COVID-19 Pandemic Impact on Banking Sector. Asian Economics Letters Vol. 3, No.1, 1-6
  • Debrun, Xavier, Paul Masson, and Catherine Pattillo (2002). Monetary Unions in West Africa: Who Might Gain, Who Might Lose and Why? IMF Working Paper 02/226. Washington: International Monetary Fund, 2022
  • Devi Prasad Dash and Narayan Sethi (2022). Pandemics, Lockdown and Economic Growth: A Region-Specific Perspective on Covid-19. Bulletin of Monetary Economics and Banking. Special Issue 43 - 60
  • Dimand, Robert (1988). The Origins of the Keynesian Revolution in Aldershot Edward Elgar “Study of the Evolution of Keynes's Ideas”. 1988
  • Durrani, A., M. Rosmin, and U. Volz (2020). The role of Central banks in Scaling up Sustainable Finance – What do Monetary Authorities in the Asia-Pacific Region Think? Journal of Sustainable Finance and Investment, 10 (2): 92–112
  • Erturk, Ismail, Julie Froud, Sukhdev Johal, Adam Leaver and Karel Williams (2007). The Democratization of Finance? Promises, Outcomes and Conditions; Review of International Political Economy; 14 (4); 553-575
  • Facundo Alvaredo, Lucas Chancel, Thomas Piketty, Emmanuel Saez and Gabriel Zucman (2018). World Inequality Report. World Inequality Database, 2018
  • Florian Zandt (2021). The Hotspots of Modern Slavery: Forced Labor and Forced Marriage. 2021 (December 02)
  • Fukuyama, Francis (1992). The End of History and The Last Man. Free Press, 1992
  • Fukuyama, Francis (2005). Building Democracy after Conflict: Stateless First. Journal of Democracy; 16 (1); 84-88
  • Gordon, Robert J. (1990). What Is New-Keynesian Economics? Journal of Economic Literature. 28 (3): 1115–71
  • Guizhou Wang & Kjell Hausken (2022). A Game between Central Banks and Households Involving Central Bank Digital Currencies, Other Digital Currencies and Negative Interest Rates. Cogent Economics and Finance, Vol 10 No. 1, 1-23
  • Helen V. Milner (1998). International Political Economy: Beyond Hegemonic Stability. Foreign Policy, Spring 1999
  • Hicks, John (1967). Critical Essays in Monetary Theory. Oxford: Oxford University Press, 1967
  • Inderst (2018). Infrastructure Investment, Private Finance, and Institutional Investors: Asia from a Global Perspective in ‘Financing Infrastructure in Asia and the Pacific Capturing Impacts and New Sources’; Tokyo: Asian Development Bank Institute, 2018
  • International Fund for Agricultural Development and the World Bank Group (2015). The Use of Remittances and Financial Inclusion; Washington: World Bank, 2015
  • International Monetary Fund (2020a). The Great Lockdown – World Economic Outlook. Washington: International Monetary Fund, 2020
  • International Monetary Fund (2020b). World Economic Outlook Update. Washington: International Monetary Fund; 2020
  • International Monetary Fund (2021). Policy reforms to COVID-19. Washington: International Monetary Fund, 2021 Juan Antonio Montecino and Gerald Epstein (2015). Did Quantitative Easing Increase Income Inequality? Working Paper No. 28; New York: Institute of New Economic Thinking (2015)
  • Keynes, John Maynard (1936). The General Theory of Employment, Interest and Money. Basingstoke, Hampshire: Palgrave Macmillan (Archived from the original article) 2017
  • Kindleberger, Charles P (1970). Power and Money: The Economics of International Politics and the Politics of International Economics. Basic Books Incorporated, 1970
  • Krugman Paul (2020). Notes on the Coronavirus: The Economic Equivalent of a Medically Induced Coma. The New York Times; 2020 (1st April)
  • Langdana, Farrokh K. (2002). Macroeconomic Policy: Demystifying Monetary and Fiscal Policy. Springer Science and Business Media (2002)
  • Marlene Amstad, Bihong Huang, Peter J. Morgan, and Sayuri Shirai (2019). Introduction and Overview in Marlene Amstad, Bihong Huang, Peter J. Morgan, and Sayuri Shirai “Central Bank Digital Currency and Fintech in Asia”. Tokyo: Asian Development Bank Institute, 2019
  • Masson, Paul and Catherine Pattillo (2004). A single Currency for Africa; Finance & Development; 2004 (December)
  • Masson, Paul, and Catherine Pattillo (2002). Monetary Union in West Africa: An Agency of Restraint for Fiscal Policies?” Journal of African Economies, Vol.11 (September); 387–412
  • McMurty, John (1999). The Cancer Stage of Capitalism: From Crisis to Cure. Pluto Press; (Second Edition), 1999
  • Mehar, M. Ayub. (2018). Impact of Monetary Policy on Growth and Poverty: Drastic Consequences of Government Intervention’; Journal of Modern Economy, 2018,1:1.
  • Mehar, M. Ayub (2005). Is debt a Substitute of Equity? Relevancy of Financial Policy in New Economic Scenarios; Applied Financial Economics; 2005, 15, 337–366
  • Mehar, M. Ayub (2011). How Monetary Policy affects Poverty? Nexus and Consequences. South Asian Journal of Management. Vol. 5, No. 1, 1-10
  • Mehar, M. Ayub (2014); Infrastructure Development by Liberalizing Economic Policies: The Straight Path of Economic Prosperity; Islamabad: Friedrich Naumann Stiftung (Fur Die Freiheit)/ EFN Pakistan, 2014
  • Mehar, M. Ayub (2017). Infrastructure Development, CPEC and FDI in Pakistan: Is There a Connection? Journal of Transnational Corporations, Switzerland (Special Issue on FDI), 1-10
  • Mehar, M. Ayub (2020). Measuring Impacts and Financing Infrastructure in Pakistan. Role of Public Private Partnership. Tokyo: Asian Development Bank Institute (WP No. 1149, 2020)
  • Mehar, M. Ayub (2021). Bridge Financing during Covid-19 Pandemics: Nexus of FDI, External Borrowing and Fiscal Policy; Transnational Corporations Review; 2021 1-16
  • Mehar, A. Ayub (2022a); “COVID-19, Digital Transactions, and Economic Activities: The Puzzling Nexus of Wealth Enhancement, Trade, and Financial Technology” in John Beirne, James Villafuerte, and Bryan Zhang “FINTECH and COVID-19: Impacts, Challenges and Policy Priorities for Asia” (pp 07-34); Cambridge: University of Cambridge, 2022
  • Michael McLeay, Amar Radia and Ryland Thomas (2014). Money Creation in the Modern Economy: An Introduction. Bank of England: Quarterly Bulletin 2014 (1st quarter) Mundell, Robert (1961). A Theory of Optimum Currency Areas; American Economic Review; Vol.51 (September), 657–65
  • Nguyen, Kim Quoc Trung (2022); Does Leverage fit Non-performing Loans in the COVID-19 Pandemic – Evidence from the Vietnamese Banking System; Cogent Business and Management, Vol. 9, No. 1, 1-17 Ninan, TN (2020); Indian Economy is Heading for a K-shaped Recovery and It Won’t be a Pretty Sight’. The Print: 5th September 2020
  • Ocampo, Jose Antonio (2005). Beyond Reforms: Structural Dynamics and Macroeconomic Vulnerability. Washington: World Bank, 2005
  • Olayungbo, David and Badar Alam Iqbal (2021); An Empirical Analysis of African Trade Blocs Effects on the Global Economy: New Evidence from the Gravity Model. Future Business Journal, 7(1): 45
  • Paresh Kumar Narayan and Solikin M. Juhro (2022). Editorial in Special Issue on Stimulating Economic Recovery, Promoting Sustainable Inclusive Growth: Challenges and Opportunities. Bulletin of Monetary Economics and Banking, Special Issue 61-84
  • Prabheesh, K. P, (2022). Editorial in Special Issue on COVID-19 and its Impact on Asian Economies. Asian Economics Letters, Vol. 3 No. 2
  • Prasad, Eswar and Vera Songwe (2021). Regional Integration in West Africa: Is There a Role for a Single Currency. Washington: Brookings Institution, 2021
  • Robert Gordon (2008). "'Did Liberals Cause the Sub-Prime Crisis?'". American Prospect. (Retrieved May 1, 2010)
  • Rogoff, Kenneth (2020). The Covid-19 Recession could be far Worse than 2008. Devos: World Economic Forum, 2020
  • Sachs, J. Schmidt-Traub, G. Kroll, C. Lafortune, G. Fuller, G. Woelm, F (2020). The Sustainable Development Goals and Covid-19. Sustainable Development Report. Cambridge: Cambridge University Press, 2020
  • Smith, Adam (1759). Theory of the Moral Sentiments. London: The Adam Smith Institute, 1999
  • Smith, Adam (1776). An Inquiry into the Nature and Causes of the Wealth of Nations. Philadelphia: Thomas Dobson, 1789
  • Statistica (2021). Global Data (https://www.statista.com); Hamburg, 2021
  • Stefan, Stremerscha and Gerard J. Tellisc (2004). Understanding and Managing International Growth of New Products. International Journal of Research in Marketing 21 (2004) 421–438
  • Stein, Jerome L (1982). Monetarist, Keynesian & New Classical Economics. Oxford: Blackwell: 1982
  • Stijn Claessens, Jon Frost, Grant Turner and Feng Zhu (2018). Fintech Credit Markets around the World: Size, Drivers and Policy Issues; BIS Quarterly Review; 2018 (September)
  • The Economist (1997). Interface-AIF Survey. November 22, 1997
  • The Economist (2000). Survey Sponsored by Sofinco- a subsidiary of Credit Agricole. March 25, 2000
  • The Economist (2001). The New Wealth of Nations: A Survey of the New Richs. London: June 16th, 2001
  • The Economist (2009). When a Flow Becomes a Flood. January 22, 2009
  • The Economist (2009a) Poverty. May 30, 2009
  • The Economist (2009b). Survey on Poverty. April 04, 2009
  • The Economist, (1999). Finance and Capitalism. December 19, 1999 (Millennium Issue)
  • University of Cambridge (2020). Brain Food: Economic Impact. Centre for Risk Studies at the University of Cambridge Judge Business School, 2020
  • Velde, Francois R. (2002). Following the Yellow Brick Road: How the United States Adopted the Gold Standard; Economic Perspectives, 2002 (4th quarter)
  • World Bank (2017). Global Financial Inclusion and Consumer Protection Survey. Washington: The World Bank Group, 2017
  • World Bank (2019). Global Financial Development Report 2019 / 2020: Bank Regulation and Supervision a Decade after the Global Financial Crisis. Washington: The World Bank Group, 2019
  • World Bank (2020). Poverty and Shared Prosperity: Reversal of Fortune. Washington: The World Bank Group, 2020 World Bank (2020a). Global Economic Prospects. Washington: The World Bank Group: 2020 World Bank (2023). World development indicators. Washington: The World Bank Group (2023)
  • World Economic Forum (2020). The Global Competitiveness Report (Special edition): How Countries are Performing on the Road to Recovery. Geneva: World Economic Forum, 2020
  • World Economic Forum (2021). The Global Risks Report 2021 (16th edition). Geneva: World Economic Forum, 2021
  • World Trade Organization (2020). World Trade Report 2020. Government Policies to Promote Innovation in the Digital Age. Geneva: World Trade Organization, 2020
  • Yuksel Gormez (2019). Central Bank Digital Currency: A Historical Perspective in Marlene Amstad, Bihong Huang, Peter J. Morgan, and Sayuri Shirai “Central Bank Digital Currency and Fintech in Asia”. Tokyo: Asian Development Bank Institute, 2019
  • Zhong Xu and Ruihui Xu (2019). Regulating Fintech for Sustainable Development in the People’s Republic of China” in Marlene Amstad, Bihong Huang, Peter J. Morgan, and Sayuri Shirai “Central bank digital currency and Fintech in Asia”. Tokyo: Asian Development Bank Institute, 2019

Year 2023, Volume: 3 Issue: 1, 21 - 41, 28.07.2023

Muhammad Ayub Mehar

Abstract

References

  • Alesina, Alberto and Dani Rodrik (1994). Distributive Politics and Economic Growth; Quarterly Journal of Economics, 109 (2), 465–490
  • Aloysius Uche Ordu, Ali Zafar, and Jan Muenc (2021). Regional Integration in West Africa: Is West Africa ready for a single currency? Brookings Institution, 2021 (July)
  • Ashoka Mody (2018). Euro Tragedy: A Drama in Nine Acts. Oxford: Oxford University Press, 2018
  • Asian Development Bank (2010). Key Indicators for Asia and the Pacific 2010: The Rise of Asia’s Middle Class (Special Chapter). Mandaluyong City, 2010.
  • Banerjee, Abhijit and Esther Duflo (2008). What is Middle Class about the Middle Classes around the World? Journal of Economic Perspectives. 22 (2); 3-28
  • Belesity Bekalu Ayenew (2022). The Impact of Foreign Financial Inflows on the Economic Growth of Sub-Saharan African Countries: An Empirical Approach. Cogent Economics and Finance, Vol 10 No.1, 1-12
  • Bogle, John (2005). The Battle for the Soul of Capitalism. Yale University Press, 2005
  • Bosworth, Barry (1975). The Stock Market and the Economy. Brooking Papers on Economic Activity, Vol. 75 (2), 257-300
  • Bonga‑Bonga L. and Mabe Q M (2019). How Financially Integrated are Trading Blocs in Africa? Quarterly Review of Economics and Finance; 75 (84)
  • Charis Vlados, Dimos Chatzinikolaou, and Badar Alam Iqbal (2022). New Globalization and Multipolarity: A Critical Review and the Regional Comprehensive Economic Partnership Case. Journal of Economic Integration, Vol. 37, No. 3, 458-483
  • Christian Haddad and Lars Hornuf (2019). The Emergence of the Global Fintech Market: Economic and Technological Determinants. Small Business Economics, Vol. 53; 81-105
  • Credit Suisse Research Institute (2019). Global Wealth Report; Credit Suisse AG, 2019 (www.credit-suisse.com)
  • Darjana Darjana, Wiryono, S.K., Koesrindartoto, D.P. (2022). The COVID-19 Pandemic Impact on Banking Sector. Asian Economics Letters Vol. 3, No.1, 1-6
  • Debrun, Xavier, Paul Masson, and Catherine Pattillo (2002). Monetary Unions in West Africa: Who Might Gain, Who Might Lose and Why? IMF Working Paper 02/226. Washington: International Monetary Fund, 2022
  • Devi Prasad Dash and Narayan Sethi (2022). Pandemics, Lockdown and Economic Growth: A Region-Specific Perspective on Covid-19. Bulletin of Monetary Economics and Banking. Special Issue 43 - 60
  • Dimand, Robert (1988). The Origins of the Keynesian Revolution in Aldershot Edward Elgar “Study of the Evolution of Keynes's Ideas”. 1988
  • Durrani, A., M. Rosmin, and U. Volz (2020). The role of Central banks in Scaling up Sustainable Finance – What do Monetary Authorities in the Asia-Pacific Region Think? Journal of Sustainable Finance and Investment, 10 (2): 92–112
  • Erturk, Ismail, Julie Froud, Sukhdev Johal, Adam Leaver and Karel Williams (2007). The Democratization of Finance? Promises, Outcomes and Conditions; Review of International Political Economy; 14 (4); 553-575
  • Facundo Alvaredo, Lucas Chancel, Thomas Piketty, Emmanuel Saez and Gabriel Zucman (2018). World Inequality Report. World Inequality Database, 2018
  • Florian Zandt (2021). The Hotspots of Modern Slavery: Forced Labor and Forced Marriage. 2021 (December 02)
  • Fukuyama, Francis (1992). The End of History and The Last Man. Free Press, 1992
  • Fukuyama, Francis (2005). Building Democracy after Conflict: Stateless First. Journal of Democracy; 16 (1); 84-88
  • Gordon, Robert J. (1990). What Is New-Keynesian Economics? Journal of Economic Literature. 28 (3): 1115–71
  • Guizhou Wang & Kjell Hausken (2022). A Game between Central Banks and Households Involving Central Bank Digital Currencies, Other Digital Currencies and Negative Interest Rates. Cogent Economics and Finance, Vol 10 No. 1, 1-23
  • Helen V. Milner (1998). International Political Economy: Beyond Hegemonic Stability. Foreign Policy, Spring 1999
  • Hicks, John (1967). Critical Essays in Monetary Theory. Oxford: Oxford University Press, 1967
  • Inderst (2018). Infrastructure Investment, Private Finance, and Institutional Investors: Asia from a Global Perspective in ‘Financing Infrastructure in Asia and the Pacific Capturing Impacts and New Sources’; Tokyo: Asian Development Bank Institute, 2018
  • International Fund for Agricultural Development and the World Bank Group (2015). The Use of Remittances and Financial Inclusion; Washington: World Bank, 2015
  • International Monetary Fund (2020a). The Great Lockdown – World Economic Outlook. Washington: International Monetary Fund, 2020
  • International Monetary Fund (2020b). World Economic Outlook Update. Washington: International Monetary Fund; 2020
  • International Monetary Fund (2021). Policy reforms to COVID-19. Washington: International Monetary Fund, 2021 Juan Antonio Montecino and Gerald Epstein (2015). Did Quantitative Easing Increase Income Inequality? Working Paper No. 28; New York: Institute of New Economic Thinking (2015)
  • Keynes, John Maynard (1936). The General Theory of Employment, Interest and Money. Basingstoke, Hampshire: Palgrave Macmillan (Archived from the original article) 2017
  • Kindleberger, Charles P (1970). Power and Money: The Economics of International Politics and the Politics of International Economics. Basic Books Incorporated, 1970
  • Krugman Paul (2020). Notes on the Coronavirus: The Economic Equivalent of a Medically Induced Coma. The New York Times; 2020 (1st April)
  • Langdana, Farrokh K. (2002). Macroeconomic Policy: Demystifying Monetary and Fiscal Policy. Springer Science and Business Media (2002)
  • Marlene Amstad, Bihong Huang, Peter J. Morgan, and Sayuri Shirai (2019). Introduction and Overview in Marlene Amstad, Bihong Huang, Peter J. Morgan, and Sayuri Shirai “Central Bank Digital Currency and Fintech in Asia”. Tokyo: Asian Development Bank Institute, 2019
  • Masson, Paul and Catherine Pattillo (2004). A single Currency for Africa; Finance & Development; 2004 (December)
  • Masson, Paul, and Catherine Pattillo (2002). Monetary Union in West Africa: An Agency of Restraint for Fiscal Policies?” Journal of African Economies, Vol.11 (September); 387–412
  • McMurty, John (1999). The Cancer Stage of Capitalism: From Crisis to Cure. Pluto Press; (Second Edition), 1999
  • Mehar, M. Ayub. (2018). Impact of Monetary Policy on Growth and Poverty: Drastic Consequences of Government Intervention’; Journal of Modern Economy, 2018,1:1.
  • Mehar, M. Ayub (2005). Is debt a Substitute of Equity? Relevancy of Financial Policy in New Economic Scenarios; Applied Financial Economics; 2005, 15, 337–366
  • Mehar, M. Ayub (2011). How Monetary Policy affects Poverty? Nexus and Consequences. South Asian Journal of Management. Vol. 5, No. 1, 1-10
  • Mehar, M. Ayub (2014); Infrastructure Development by Liberalizing Economic Policies: The Straight Path of Economic Prosperity; Islamabad: Friedrich Naumann Stiftung (Fur Die Freiheit)/ EFN Pakistan, 2014
  • Mehar, M. Ayub (2017). Infrastructure Development, CPEC and FDI in Pakistan: Is There a Connection? Journal of Transnational Corporations, Switzerland (Special Issue on FDI), 1-10
  • Mehar, M. Ayub (2020). Measuring Impacts and Financing Infrastructure in Pakistan. Role of Public Private Partnership. Tokyo: Asian Development Bank Institute (WP No. 1149, 2020)
  • Mehar, M. Ayub (2021). Bridge Financing during Covid-19 Pandemics: Nexus of FDI, External Borrowing and Fiscal Policy; Transnational Corporations Review; 2021 1-16
  • Mehar, A. Ayub (2022a); “COVID-19, Digital Transactions, and Economic Activities: The Puzzling Nexus of Wealth Enhancement, Trade, and Financial Technology” in John Beirne, James Villafuerte, and Bryan Zhang “FINTECH and COVID-19: Impacts, Challenges and Policy Priorities for Asia” (pp 07-34); Cambridge: University of Cambridge, 2022
  • Michael McLeay, Amar Radia and Ryland Thomas (2014). Money Creation in the Modern Economy: An Introduction. Bank of England: Quarterly Bulletin 2014 (1st quarter) Mundell, Robert (1961). A Theory of Optimum Currency Areas; American Economic Review; Vol.51 (September), 657–65
  • Nguyen, Kim Quoc Trung (2022); Does Leverage fit Non-performing Loans in the COVID-19 Pandemic – Evidence from the Vietnamese Banking System; Cogent Business and Management, Vol. 9, No. 1, 1-17 Ninan, TN (2020); Indian Economy is Heading for a K-shaped Recovery and It Won’t be a Pretty Sight’. The Print: 5th September 2020
  • Ocampo, Jose Antonio (2005). Beyond Reforms: Structural Dynamics and Macroeconomic Vulnerability. Washington: World Bank, 2005
  • Olayungbo, David and Badar Alam Iqbal (2021); An Empirical Analysis of African Trade Blocs Effects on the Global Economy: New Evidence from the Gravity Model. Future Business Journal, 7(1): 45
  • Paresh Kumar Narayan and Solikin M. Juhro (2022). Editorial in Special Issue on Stimulating Economic Recovery, Promoting Sustainable Inclusive Growth: Challenges and Opportunities. Bulletin of Monetary Economics and Banking, Special Issue 61-84
  • Prabheesh, K. P, (2022). Editorial in Special Issue on COVID-19 and its Impact on Asian Economies. Asian Economics Letters, Vol. 3 No. 2
  • Prasad, Eswar and Vera Songwe (2021). Regional Integration in West Africa: Is There a Role for a Single Currency. Washington: Brookings Institution, 2021
  • Robert Gordon (2008). "'Did Liberals Cause the Sub-Prime Crisis?'". American Prospect. (Retrieved May 1, 2010)
  • Rogoff, Kenneth (2020). The Covid-19 Recession could be far Worse than 2008. Devos: World Economic Forum, 2020
  • Sachs, J. Schmidt-Traub, G. Kroll, C. Lafortune, G. Fuller, G. Woelm, F (2020). The Sustainable Development Goals and Covid-19. Sustainable Development Report. Cambridge: Cambridge University Press, 2020
  • Smith, Adam (1759). Theory of the Moral Sentiments. London: The Adam Smith Institute, 1999
  • Smith, Adam (1776). An Inquiry into the Nature and Causes of the Wealth of Nations. Philadelphia: Thomas Dobson, 1789
  • Statistica (2021). Global Data (https://www.statista.com); Hamburg, 2021
  • Stefan, Stremerscha and Gerard J. Tellisc (2004). Understanding and Managing International Growth of New Products. International Journal of Research in Marketing 21 (2004) 421–438
  • Stein, Jerome L (1982). Monetarist, Keynesian & New Classical Economics. Oxford: Blackwell: 1982
  • Stijn Claessens, Jon Frost, Grant Turner and Feng Zhu (2018). Fintech Credit Markets around the World: Size, Drivers and Policy Issues; BIS Quarterly Review; 2018 (September)
  • The Economist (1997). Interface-AIF Survey. November 22, 1997
  • The Economist (2000). Survey Sponsored by Sofinco- a subsidiary of Credit Agricole. March 25, 2000
  • The Economist (2001). The New Wealth of Nations: A Survey of the New Richs. London: June 16th, 2001
  • The Economist (2009). When a Flow Becomes a Flood. January 22, 2009
  • The Economist (2009a) Poverty. May 30, 2009
  • The Economist (2009b). Survey on Poverty. April 04, 2009
  • The Economist, (1999). Finance and Capitalism. December 19, 1999 (Millennium Issue)
  • University of Cambridge (2020). Brain Food: Economic Impact. Centre for Risk Studies at the University of Cambridge Judge Business School, 2020
  • Velde, Francois R. (2002). Following the Yellow Brick Road: How the United States Adopted the Gold Standard; Economic Perspectives, 2002 (4th quarter)
  • World Bank (2017). Global Financial Inclusion and Consumer Protection Survey. Washington: The World Bank Group, 2017
  • World Bank (2019). Global Financial Development Report 2019 / 2020: Bank Regulation and Supervision a Decade after the Global Financial Crisis. Washington: The World Bank Group, 2019
  • World Bank (2020). Poverty and Shared Prosperity: Reversal of Fortune. Washington: The World Bank Group, 2020 World Bank (2020a). Global Economic Prospects. Washington: The World Bank Group: 2020 World Bank (2023). World development indicators. Washington: The World Bank Group (2023)
  • World Economic Forum (2020). The Global Competitiveness Report (Special edition): How Countries are Performing on the Road to Recovery. Geneva: World Economic Forum, 2020
  • World Economic Forum (2021). The Global Risks Report 2021 (16th edition). Geneva: World Economic Forum, 2021
  • World Trade Organization (2020). World Trade Report 2020. Government Policies to Promote Innovation in the Digital Age. Geneva: World Trade Organization, 2020
  • Yuksel Gormez (2019). Central Bank Digital Currency: A Historical Perspective in Marlene Amstad, Bihong Huang, Peter J. Morgan, and Sayuri Shirai “Central Bank Digital Currency and Fintech in Asia”. Tokyo: Asian Development Bank Institute, 2019
  • Zhong Xu and Ruihui Xu (2019). Regulating Fintech for Sustainable Development in the People’s Republic of China” in Marlene Amstad, Bihong Huang, Peter J. Morgan, and Sayuri Shirai “Central bank digital currency and Fintech in Asia”. Tokyo: Asian Development Bank Institute, 2019
There are 80 citations in total.

Details

Primary Language English
Subjects Industrial Economy
Journal Section Research Articles
Authors

Muhammad Ayub Mehar 0000-0002-9711-2556

Early Pub Date July 20, 2023
Publication Date July 28, 2023
Published in Issue Year 2023 Volume: 3 Issue: 1

Cite

APA Mehar, M. A. (2023). Digital Divide, Credit Financing and Financial Inclusion: Changing Patterns of Poverty, Employment and Income Inequalities. Industrial Policy, 3(1), 21-41.
 Download Cover Image