Millennium & Financial Development Goals: Economic Indicators Perspective Of South Asian Countries

This paper estimates the relationship between financial development and millennium development goals for poverty, education, gender equality and health by providing evidence from the South Asian countries. Ordinary least square model is applied with panel data approach, OLS regression which consider the issues of relationship between financial development, economic growth as control variable and millennium development goals and getting evidence from the South Asian countries surveyed during the period of 1970-2013. We find that the results of regression stated that a sound financial development system is very important to get achievement because it gives the way to improve the MDGs goals for poverty, education, gender equality and health. We also found that financial development has diminishing marginal impact on MDGs and the results are consistent with the (Rosner, 2011). Moreover, the study concluded that need for improving the opportunities for deposit savings in the banks rather than the entrance to credit, which having very large impact on the attainment of millennium development goals.