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|Title:||National Culture and Financial Inclusion: Evidence from Belt and Road Economies|
Rehman, F. U.
|Citation:||National Culture and Financial Inclusion: Evidence from Belt and Road Economies / I. Liaqat, Y. Gao, F. U. Rehman et al. // Sustainability (Switzerland). — 2022. — Vol. 14. — Iss. 6. — 3405.|
|Abstract:||Financial Inclusion is a key factor in achieving the sustainable development goals of the United Nations. The research in the area of financial inclusion is becoming more critical for scholars and policymakers. In previous studies, effects of formal institutions on financial inclusion have been explored. However, influence of informal institutions (culture) on financial inclusion remained untapped. To fill this gap, we investigate how national culture affects the financial inclusion of 81 Belt and Road economies using 17 years of data from 2004 to 2020. The empirical findings of the two-stage least square (2SLS) show that Hofstede’s cultural dimensions are significantly associated with financial inclusion with different signs and levels of magnitude. We find that financial inclusion is lower in countries where uncertainty avoidance and power distance is high and that the opposite is true for individualism and masculinity. The overall results are reliable to a series of robustness checks and provide a useful basis for policymakers, regulatory agencies, and other stakeholders in achieving the sustainable development goal of financial inclusion in Belt and Road countries. © 2022 by the authors. Licensee MDPI, Basel, Switzerland.|
|Keywords:||BELT AND ROAD|
LEAST SQUARES METHOD
SUSTAINABLE DEVELOPMENT GOAL
|metadata.dc.description.sponsorship:||Huazhong University of Science and Technology, HUST|
We are grateful for the profound ethical and technical support given by Muhammad Asif Khan, University of Kotli, Azad Jammu, and Kashmir, Muhammad Atif Khan, University of Kotli, Azad Jammu, and Kashmir, and Mirza Muhammad Naseer School of Economics, Huazhong University of Science and Technology and Atta Ullah School of Management, Huazhong University of Science and Technology.
|Appears in Collections:||Научные публикации, проиндексированные в SCOPUS и WoS CC|
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