Often confused with the microfinance, are financial services and products destined to aid low-income populations. It is a word that is on one hand more global because it regroups all the activities linked to the financial sector, but it is also more precise because it clearly indicates its objective: to include the whole population in the economic system.
Published in Chapter:
The Effect of Financial Inclusion on the Sustainable Development Goals: A Systematic Review
João Jungo (GOVCOPP, University of Aveiro, Portugal),
Mara Madaleno (GOVCOPP, University of Aveiro, Portugal), and
Anabela Botelho (GOVCOPP, University of Aveiro, Portugal)
Copyright: © 2024
|Pages: 17
DOI: 10.4018/979-8-3693-0522-5.ch001
Abstract
Financial inclusion is a topic of growing interest to researchers and policymakers, while creating a sustainable, just, and inclusive world where no one is left behind is a top priority in current times. The aim of this study is to provide a systematic review of the literature on the effect of financial inclusion on sustainable development goals, specifically to understand the effect of financial inclusion on Goals 1 (eradicate poverty), 2 (eradicate hunger), 4 (quality education), 5 (gender equality), 7 (renewable energy), 8 (jobs and economic growth), 10 (reduce inequalities), and 13 (climate action). The study concludes that there is a lot of evidence to show that financial inclusion is the primary tool for achieving the Sustainable Development Goals. In addition, the authors note that there is a scarcity of studies linking financial inclusion to the quality of education, health, and the eradication of hunger; in contrast, there is a fairly large body of scientific evidence confirming the beneficial effect of inclusion on economic growth, poverty reduction, gender equality, and income.