Diversity-inclusion nexus: assessing the role of ethnic and religious diversity in financial inclusion; a global perspective. Issue 1 (31st December 2023)

• Record Type: Journal Article
• Authors: Amin, Saqib; Yasin, Iftikhar; Rutkowska-Ziarko, Anna
• Is Part Of: Ekonomska istraživanja. Volume 36:Issue 1(2023)
• Page Start: 1205
• Page End: 1225
• Publication Date: 2023-12-31
• Subjects: Ethnic and religious diversity -- financial development -- financial inclusion; M14 -- O10 -- Z10; Economics -- Research -- Periodicals; Economics -- Research; Electronic journals; 330.072
• DOI: 10.1080/1331677X.2022.2083648
• Languages: English
• ISSNs: 1331-677X

Abstract

Abstract: Diversity and financial inclusion are at the top of boardroom agendas across the financial services industry. An inclusive financial environment ensures equitable access to resources and opportunities for all. Diversity & financial inclusion is crucial for future financial management industry and its success is determined by the ability to create an inclusive culture and diverse societies. Previous studies discussed the diversity-inclusion nexus without assessing the role of ethnic and religious diversity in financial inclusion. This study empirically examines the association between ethnic and religious diversity and financial inclusion by using the dataset of 187-countries across the world. Finding shows that there is a strong positive relationship exist between financial inclusion and ethnic or religious diversity, or both. Furthermore, results are consistent for the high-, middle- and low-income countries. This study suggests that fruitful outcomes of diverse population can only be obtained by ensuring the equitable and peaceful society via cohesion. Future research can be explored these findings and confirm this by country specific implication of ethnic and religious diversity in financial inclusion.