THE INCLUSIVE FINANCE FACTOR OF HAPPINESS

Abstract

Inclusive finance is an emerging field that is considered crucial in promoting sustainable development and wellbeing. It is well known that financial flows are the backbone of economic growth, hence promoting equity and inclusiveness is important to intensify access to financial intermediation, either via traditional channels or by using modern, mobile means. It is undeniably important to solve gender inequality in closing the gap in funding, as well as the inclusiveness of disadvantaged area to support sustainable development. The question posed by the study is whether inclusive finance enhances happiness hence supporting durable development. The case of selected high, middle income and low-income countries are considered in determining the impact of the GDP/capita, human development and financial inclusiveness on the happiness index during 2012-2018.

Keywords

• inclusive finance;
• sustainable development;
• positive externalities;