Economic Uncertainty in Developing Countries: Does Financial Inclusion Matter?

• 발행기관: 세종대학교 경제통합연구소
• 저자명: Rim Oueghlissi
• 간행물 정보: 『Journal of Economic Integration』제40권 제4호, 655~676쪽, 전체 22쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2025.12.31

국문 초록

The global expansion of financial inclusion is a critical issue for policymakers around the world. However, its impact on economic uncertainty remains poorly understood. This paper addresses this gap by carefully considering self-selection bias and endogeneity in the relationship between financial inclusion and economic uncertainty. Using matching techniques, we examine whether the level of financial inclusion (i.e., the treatment) has a significant impact on economic uncertainty (i.e., the outcome). Analyzing a sample of 99 developing countries over the period 2004-2018 and employing two matching techniques, we find that the average treatment effect of financial inclusion on economic uncertainty is negative and statistically significant, suggesting that countries with higher financial inclusion experience lower economic uncertainty. These robust results, across various empirical specifications, highlight the important role of inclusive financial systems in mitigating economic uncertainty in developing countries.

목차

I. Introduction

II. Literature Review

III. Data

IV. Methodology

V. Results

VI. Conclusion

References

키워드

Financial Inclusion Economic Uncertainty Entropy Balancing PSM Developing Countries