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Research on Relationship between Financial Inclusion and Economic Growth of Rwanda: Evidence from Commercial Banks with ARDL Approach

Author

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  • Moïse Bigirimana

    (School of Economics and Business Studies, Kigali Independent University ULK, Rwanda)

  • Xu Hongyi

    (School of Management, Wuhan University of Technology, PR China)

Abstract

This study examines the relationship between financial inclusion and economic growth of Rwanda using annual data from 2004 to 2016. We used ARDL as it is a new approach to the problem of testing the existence of a level relationship between a dependent variable and a set of regressors, when it is not known with certainty whether the underlying regressors are trend- or first-difference stationary as developed by Pesaran. The results of our study revealed that there is long-run relationship between financial inclusion and economic growth of Rwanda.

Suggested Citation

  • Moïse Bigirimana & Xu Hongyi, 2018. "Research on Relationship between Financial Inclusion and Economic Growth of Rwanda: Evidence from Commercial Banks with ARDL Approach," International Journal of Innovation and Economic Development, Inovatus Services Ltd., vol. 4(1), pages 7-18, April.
    • Handle: RePEc:mgs:ijoied:v:4:y:2018:i:1:p:7-18
    DOI: 10.18775/ijied.1849-7551-7020.2015.41.2001
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    Citations

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    Cited by:

    1. Md. Nur Alam Siddik & Tanveer Ahsan & Sajal Kabiraj, 2019. "Does Financial Permeation Promote Economic Growth? Some Econometric Evidence From Asian Countries," SAGE Open, , vol. 9(3), pages 21582440198, July.
    2. Ozili, Peterson, 2023. "Impact of financial inclusion on economic growth: review of existing literature and directions for future research," MPRA Paper 118788, University Library of Munich, Germany.
    3. Yadava, Anup Kumar & Singh, Bhanu Pratap & Yadav, Vishal, 2021. "Nexus of Financial Inclusion and Economic Growth: Benchmarking the Performance of Indian States," MPRA Paper 108479, University Library of Munich, Germany.
    4. Kenechukwu J. Nwisienyi & Onyeka A. Obi, 2020. "An Analysis of Financial Inclusion and Economic Growth in Nigeria; An ARDL Approach," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 4(10), pages 126-134, October.
    5. Md Nur Alam Siddik, 2021. "Does Financial Permeation Induce Economic Growth? Evidence from SAARC Countries," Global Business Review, International Management Institute, vol. 22(4), pages 893-905, August.

    More about this item

    Keywords

    Financial inclusion; Economic growth; Commercial bank; ARDL;
    All these keywords.

    JEL classification:

    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General

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