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Access to Finance: An Empirical Analysis

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  • Rashmi Umesh Arora

    (University of Bradford, UK.)

Abstract

Financial access is gradually being recognised as an important input to economic development. Using World Bank (2007) database, this study measures the extent of financial access in developed and developing countries. Further, it develops a new Socio-Economic Development Index, which incorporates financial access. It then compares socio-economic development of various countries as shown by Human Development Index (HDI) alone and by the new index incorporating financial access. The results of the study show that Spain ranks highest in terms of financial access followed by Belgium, Malta and South Korea. In addition, the ranking of countries in terms of HDI changes if financial access is taken into account.

Suggested Citation

  • Rashmi Umesh Arora, 2014. "Access to Finance: An Empirical Analysis," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 26(5), pages 798-814, December.
    • Handle: RePEc:pal:eurjdr:v:26:y:2014:i:5:p:798-814
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    Cited by:

    1. Zoey Wong & Afei Chen & Farhad Taghizadeh-Hesary & Rongrong Li & Qunxi Kong, 2023. "Financing Constraints and Firm’s Productivity Under the COVID-19 Epidemic Shock: Evidence of A-Shared Chinese Companies," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 35(1), pages 167-195, February.
    2. Kenan İlarslan, 2024. "Non-parametric evidence on the determinants of access to financial services in the countries of the Organization of Turkic States," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 14(4), pages 1035-1055, December.
    3. Melinda Schmidt & Harald Strotmann & Jürgen Volkert, 2022. "Female and Male Community-Level Empowerment: Capability Approach-Based Findings for Rural India," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 34(2), pages 754-784, April.
    4. Román-Aso, Juan A. & Coca Villalba, Fernando & Mastral Franks, Vanessa & Bosch Frigola, Irene, 2021. "Using Principal Component Analysis to create an index of financial conditions in Spain. Differences by firm size and industry," EconStor Preprints 234038, ZBW - Leibniz Information Centre for Economics.
    5. María del Carmen Dircio Palacios Macedo & Paula Cruz-García & Fausto Hernández-Trillo & Emili Tortosa-Ausina, 2024. "On the evolution over time of Financial Inclusion: A new multivariate index for Mexican municipalities," Working Papers 2024/06, Economics Department, Universitat Jaume I, Castellón (Spain).
    6. Gerth, Florian, 2023. "Nexus between Financial Inclusion and Economic Activity: A Study about Traditional and Non-Traditional Financial Service Indicators Determining Financial Outreach," MPRA Paper 119265, University Library of Munich, Germany.
    7. Alexander Maune, 2017. "The Strength of Sound Corporate Governance on Economic Growth in an Emerging Market Context," International Journal of Economics and Financial Issues, Econjournals, vol. 7(5), pages 6-13.
    8. Xiuhua Wang & Jian Guan, 2017. "Financial inclusion: measurement, spatial effects and influencing factors," Applied Economics, Taylor & Francis Journals, vol. 49(18), pages 1751-1762, April.
    9. Govindapuram Suresh, 2023. "Financial Inclusion and Its Impact on Fertility: An Empirical Investigation," Indian Journal of Human Development, , vol. 17(2), pages 344-358, August.
    10. Eduardo Rodrigues Sanguinet & Francisco de Borja García-García, 2023. "Rural-Urban Linkages: Regional Financial Business Services’ Integration into Chilean Agri-Food Value Chains," Sustainability, MDPI, vol. 15(14), pages 1-22, July.
    11. Dircio-Palacios-Macedo, María del Carmen & Cruz-García, Paula & Hernández-Trillo, Fausto & Tortosa-Ausina, Emili, 2023. "Constructing a financial inclusion index for Mexican municipalities," Finance Research Letters, Elsevier, vol. 52(C).

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