TRACING THE TRAJECTORY OF FINANCIAL INCLUSION RESEARCH: A BIBLIOMETRIC ANALYSIS OF SCHOLARLY CONTRIBUTIONS (2004–2023)

Authors

  • Dr. Ebby Joseph Idicula Associate Professor & Research Guide, Post Graduate & Research Department of Commerce, Bishop Abraham Memorial College, Thuruthicad, Pathanamthitta (Dist.), Kerala.
  • Manoj Xavier Research Scholar, Post Graduate & Research Department of Commerce, Bishop Abraham Memorial College, Thuruthicad, Pathanamthitta (Dist.), Kerala.

DOI:

https://doi.org/10.29121/shodhkosh.v5.i3.2024.6163

Keywords:

Financial Inclusion, Bibliometric Analysis, Research Trends, Scholarly Impact, Citation Networks, Research Collaboration, Thematic Evolution, Knowledge Dissemination

Abstract [English]

This study offers a comprehensive bibliometric analysis of the scholarly landscape on financial inclusion from 2004 to 2023, based on data extracted from the Web of Science (WoS) core collection through Clarivate Analytics. A total of 595 bibliographic records were examined, encompassing titles, abstracts, author keywords, and Keyword Plus categories. The analysis uncovers notable developments in research trends, thematic priorities, and collaboration patterns in the field. Contributions from 1,248 authors were identified, with collaborative research emerging as a dominant trend—only 90 authors were single contributors. This study provides meaningful insights into the intellectual structure, growth trajectory, and evolving discourse of financial inclusion research over the past two decades.

References

Ahamed, M. M., Ho, S. J., Mallick, S. K., & Matousek, R. (2021). Inclusive banking, financial regulation and bank performance: Cross-country evidence. Journal of Banking & Finance, 124. https://doi.org/10.1016/j.jbankfin.2021.106055 DOI: https://doi.org/10.1016/j.jbankfin.2021.106055

Ahamed, M. M., & Mallick, S. K. (2019). Is financial inclusion good for bank stability? International evidence. Journal of Economic Behavior & Organization, 157, 403–427. https://doi.org/10.1016/j.jebo.2017.07.027 DOI: https://doi.org/10.1016/j.jebo.2017.07.027

Ajide, K. B., Alimi, O. Y., Asongu, S. A., & Raheem, I. D. (2022). The role of institutional infrastructures in financial inclusion-growth relations: Evidence from SSA. International Journal of Finance & Economics, 27(1), 175–191. https://doi.org/10.1002/ijfe.2145 DOI: https://doi.org/10.1002/ijfe.2145

Albaity, M., Mallek, R. S., & Noman, A. M. (2019). Competition and bank stability in the MENA region: The moderating effect of Islamic versus conventional banks. Emerging Markets Review, 38, 310–325. https://doi.org/10.1016/j.ememar.2019.01.003 DOI: https://doi.org/10.1016/j.ememar.2019.01.003

Ali, M., Hashmi, S. H., Nazir, M. R., Bilal, A., & Nazir, M. I. (2021). Does financial inclusion enhance economic growth? Empirical evidence from the IsDB member countries. International Journal of Finance & Economics, 26(4), 5235–5258. https://doi.org/10.1002/ijfe.2063 DOI: https://doi.org/10.1002/ijfe.2063

Arner, D. W., Buckley, R. P., Zetzsche, D. A., & Veidt, R. (2020). Sustainability, FinTech and Financial Inclusion. European Business Organization Law Review, 21(1), 7–35. https://doi.org/10.1007/s40804-020-00183-y DOI: https://doi.org/10.1007/s40804-020-00183-y

Arora, R. U., & Zhang, Q. D. (2019). Banking in the Shadows: A Comparative Study of China and India. Australian Economic History Review, 59(1), 103–131. https://doi.org/10.1111/aehr.12167 DOI: https://doi.org/10.1111/aehr.12167

Bayulgen, O. (2013). Giving Credit Where Credit Is Due: Can Access to Credit Be Justified as a New Economic Right? Journal of Human Rights, 12(4), 491–510. https://doi.org/10.1080/14754835.2013.812468 DOI: https://doi.org/10.1080/14754835.2013.812468

Beisland, L. A., Djan, K. O., Mersland, R., & Randoy, T. (2021). Measuring Social Performance in Social Enterprises: A Global Study of Microfinance Institutions. Journal of Business Ethics, 171(1), 51–71. https://doi.org/10.1007/s10551-019-04417-z DOI: https://doi.org/10.1007/s10551-019-04417-z

Bongomin, G. O. C., Munene, J. C., Ntayi, J. M., & Malinga, C. A. (2018). Nexus between financial literacy and financial inclusion: Examining the moderating role of cognition from a developing country perspective. International Journal of Bank Marketing, 36(7), 1190–1212. https://doi.org/10.1108/IJBM-08-2017-0175 DOI: https://doi.org/10.1108/IJBM-08-2017-0175

Chakravarty, S. R., & Pal, R. (2013). Financial inclusion in India: An axiomatic approach. Journal of Policy Modeling, 35(5), 813–837. https://doi.org/10.1016/j.jpolmod.2012.12.007 DOI: https://doi.org/10.1016/j.jpolmod.2012.12.007

Charfeddine, L., & Zaouali, S. (2022). The effects of financial inclusion and the business environment in spurring the creation of early-stage firms and supporting established firms. Journal of Business Research, 143, 1–15. https://doi.org/10.1016/j.jbusres.2022.01.014 DOI: https://doi.org/10.1016/j.jbusres.2022.01.014

Cho, C. H., Bohr, K., Choi, T. J., Partridge, K., Shah, J. M., & Swierszcz, A. (2020). Advancing Sustainability Reporting in Canada: 2019 Report on Progress. Accounting Perspectives, 19(3), 181–204. https://doi.org/10.1111/1911-3838.12232 DOI: https://doi.org/10.1111/1911-3838.12232

Chuc, A. T., Li, W. Q., Phi, N. T. M., Le, Q. T., Yoshino, N., & Taghizadeh-Hesary, F. (2022). The necessity of financial inclusion for enhancing the economic impacts of remittances. Borsa Istanbul Review, 22(1), 47–56. https://doi.org/10.1016/j.bir.2020.12.007 DOI: https://doi.org/10.1016/j.bir.2020.12.007

Correa, E., & Giron, A. (2019). Financial Inclusion and Financialization: Latin American Main Trends after the Great Crisis. Journal of Economic Issues, 53(2), 496–501. https://doi.org/10.1080/00213624.2019.1594544 DOI: https://doi.org/10.1080/00213624.2019.1594544

Daud, S. N. M., Ahmad, A., & Ngah, W. (2021). Financialization, digital technology and income inequality. Applied Economics Letters, 28(16), 1339–1343. https://doi.org/10.1080/13504851.2020.1808165 DOI: https://doi.org/10.1080/13504851.2020.1808165

della Peruta, M. (2018). Adoption of mobile money and financial inclusion: A macroeconomic approach through cluster analysis. Economics of Innovation and New Technology, 27(2), 154–173. https://doi.org/10.1080/10438599.2017.1322234 DOI: https://doi.org/10.1080/10438599.2017.1322234

Emara, N., & el Said, A. (2021). Financial inclusion and economic growth: The role of governance in selected MENA countries. International Review of Economics & Finance, 75, 34–54. https://doi.org/10.1016/j.iref.2021.03.014 DOI: https://doi.org/10.1016/j.iref.2021.03.014

Fontin, J. R., & Lin, S. W. (2019). Comparison of banking innovation in low-income countries: A meta-frontier approach. Journal of Business Research, 97, 198–207. https://doi.org/10.1016/j.jbusres.2018.12.017 DOI: https://doi.org/10.1016/j.jbusres.2018.12.017

Forcadell, F. J., & Aracil, E. (2017). Sustainable banking in Latin American developing countries: Leading to (mutual) prosperity. Business Ethics - A European Review, 26(4), 382–395. https://doi.org/10.1111/beer.12161 DOI: https://doi.org/10.1111/beer.12161

French, S., & Leyshon, A. (2004). The new, new financial system? Towards a conceptualization of financial reintermediation. Review of International Political Economy, 11(2), 263–288. https://doi.org/10.1080/09692290420001672804 DOI: https://doi.org/10.1080/09692290420001672804

Gabor, D., & Brooks, S. (2017). The digital revolution in financial inclusion: International development in the fintech era. New Political Economy, 22(4), 423–436. https://doi.org/10.1080/13563467.2017.1259298 DOI: https://doi.org/10.1080/13563467.2017.1259298

Ghosh, S. (2022). Financial inclusion and banking stability: Does interest rate repression matter? Finance Research Letters, 50. https://doi.org/10.1016/j.frl.2022.103205 DOI: https://doi.org/10.1016/j.frl.2022.103205

Girard, T. (2022). Participatory ambiguity and the emergence of the global financial inclusion agenda. Review of International Political Economy, 29(5), 1698–1722. https://doi.org/10.1080/09692290.2021.1936593 DOI: https://doi.org/10.1080/09692290.2021.1936593

Grohmann, A., Kluhs, T., & Menkhoff, L. (2018). Does financial literacy improve financial inclusion? Cross country evidence. World Development, 111, 84–96. https://doi.org/10.1016/j.worlddev.2018.06.020 DOI: https://doi.org/10.1016/j.worlddev.2018.06.020

Gungen, A. R. (2018). Financial Inclusion and Policy-Making: Strategy, Campaigns and Microcredit a la Turca. New Political Economy, 23(3), 331–347. https://doi.org/10.1080/13563467.2017.1349091 DOI: https://doi.org/10.1080/13563467.2017.1349091

Gupta, S., & Kanungo, R. P. (2022). Financial inclusion through digitalisation: Economic viability for the bottom of the pyramid (BOP) segment. Journal of Business Research, 148, 262–276. https://doi.org/10.1016/j.jbusres.2022.04.070 DOI: https://doi.org/10.1016/j.jbusres.2022.04.070

Hamdan, J. S., Lehmann-Uschner, K., & Menkhoff, L. (2022). Mobile Money, Financial Inclusion, and Unmet Opportunities. Evidence from Uganda. Journal of Development Studies, 58(4), 671–691. https://doi.org/10.1080/00220388.2021.1988078 DOI: https://doi.org/10.1080/00220388.2021.1988078

Hua, X. P., & Huang, Y. P. (2021). Understanding China’s fintech sector: Development, impacts and risks. European Journal of Finance, 27(4–5), 321–333. https://doi.org/10.1080/1351847X.2020.1811131 DOI: https://doi.org/10.1080/1351847X.2020.1811131

Hudon, M., Labie, M., & Reichert, P. (2020). What is a Fair Level of Profit for Social Enterprise? Insights from Microfinance. Journal of Business Ethics, 162(3), 627–644. https://doi.org/10.1007/s10551-018-3986-z DOI: https://doi.org/10.1007/s10551-018-3986-z

Jacobsen, E. K. U. (2012). Unique Identification: Inclusion and surveillance in the Indian biometric assemblage. Security Dialogue, 43(5), 457–474. https://doi.org/10.1177/0967010612458336 DOI: https://doi.org/10.1177/0967010612458336

Jain, S., & Gabor, D. (2020). The Rise of Digital Financialisation: The Case of India. New Political Economy, 25(5), 813–828. https://doi.org/10.1080/13563467.2019.1708879 DOI: https://doi.org/10.1080/13563467.2019.1708879

Kanungo, R. P., & Gupta, S. (2021). Financial inclusion through digitalisation of services for well-being. Technological Forecasting and Social Change, 167. https://doi.org/10.1016/j.techfore.2021.120721 DOI: https://doi.org/10.1016/j.techfore.2021.120721

Kapoor, A. (2014). Financial inclusion and the future of the Indian economy. Futures, 56, 35–42. https://doi.org/10.1016/j.futures.2013.10.007 DOI: https://doi.org/10.1016/j.futures.2013.10.007

Karim, Z. A., Nizam, R., Law, S. H., & Hassan, M. K. (2022). Does Financial Inclusiveness Affect Economic Growth? New Evidence Using a Dynamic Panel Threshold Regression. Finance Research Letters, 46. https://doi.org/10.1016/j.frl.2021.102364 DOI: https://doi.org/10.1016/j.frl.2021.102364

Khera, P., Ng, S., Ogawa, S., & Sahay, R. (2022). Measuring Digital Financial Inclusion in Emerging Market and Developing Economies: A New Index. Asian Economic Policy Review, 17(2), 213–230. https://doi.org/10.1111/aepr.12377 DOI: https://doi.org/10.1111/aepr.12377

Kim, D. W., Yu, J. S., & Hassan, M. K. (2018). Financial inclusion and economic growth in OIC countries. Research in International Business and Finance, 43, 1–14. https://doi.org/10.1016/j.ribaf.2017.07.178 DOI: https://doi.org/10.1016/j.ribaf.2017.07.178

Kim, J. H. (2016). A Study on the Effect of Financial Inclusion on the Relationship Between Income Inequality and Economic Growth. Emerging Markets Finance and Trade, 52(2), 498–512. https://doi.org/10.1080/1540496X.2016.1110467 DOI: https://doi.org/10.1080/1540496X.2016.1110467

Kochar, A. (2018). Branchless banking: Evaluating the doorstep delivery of financial services in rural India. Journal of Development Economics, 135, 160–175. https://doi.org/10.1016/j.jdeveco.2018.07.001 DOI: https://doi.org/10.1016/j.jdeveco.2018.07.001

Kodongo, O. (2018). Financial Regulations, Financial Literacy, and Financial Inclusion: Insights from Kenya. Emerging Markets Finance and Trade, 54(12), 2851–2873. https://doi.org/10.1080/1540496X.2017.1418318 DOI: https://doi.org/10.1080/1540496X.2017.1418318

Koomson, I., & Afoakwah, C. (2023). Can financial inclusion improve children’s learning outcomes and late school enrolment in a developing country? Applied Economics, 55(3), 237–254. https://doi.org/10.1080/00036846.2022.2086683 DOI: https://doi.org/10.1080/00036846.2022.2086683

Le, T.-H., Chuc, A. T., & Taghizadeh-Hesary, F. (2019). Financial inclusion and its impact on financial efficiency and sustainability: Empirical evidence from Asia. Borsa Istanbul Review, 19(4), 310–322. https://doi.org/10.1016/j.bir.2019.07.002 DOI: https://doi.org/10.1016/j.bir.2019.07.002

Lee, D. D., Faff, R. W., & Rekker, S. A. C. (2013). Do high and low-ranked sustainability stocks perform differently? International Journal of Accounting & Information Management, 21(2), 116–132. https://doi.org/10.1108/18347641311312267 DOI: https://doi.org/10.1108/18347641311312267

Liu, F., & Walheer, B. (2022). Financial inclusion, financial technology, and economic development: a composite index approach. Empirical Economics, 63(3), 1457–1487. https://doi.org/10.1007/s00181-021-02178-1 DOI: https://doi.org/10.1007/s00181-021-02178-1

Liu, Y., Luan, L., Wu, W. L., Zhang, Z. Q., & Hsu, Y. (2021). Can digital financial inclusion promote China’s economic growth? International Review of Financial Analysis, 78. https://doi.org/10.1016/j.irfa.2021.101889 DOI: https://doi.org/10.1016/j.irfa.2021.101889

Marron, D. (2013). Governing Poverty in a Neoliberal Age: New Labour and the Case of Financial Exclusion. New Political Economy, 18(6), 785–810. https://doi.org/10.1080/13563467.2012.753043 DOI: https://doi.org/10.1080/13563467.2012.753043

Mia, M. A., Sangwan, S., Hussain, A., & Malim, N. A. K. (2022). Rural-urban financial inclusion: Implications on the cost sustainability of microfinance lenders. Managerial and Decision Economics, 43(6), 1899–1911. https://doi.org/10.1002/mde.3498 DOI: https://doi.org/10.1002/mde.3498

Morgan, P. J., & Long, T. Q. (2020). Financial literacy, financial inclusion, and savings behavior in Laos. Journal of Asian Economics, 68. https://doi.org/10.1016/j.asieco.2020.101197 DOI: https://doi.org/10.1016/j.asieco.2020.101197

Ngwenya, B., Pelser, T., & Chivaura, T. (2018). Perceptions of post-multicurrency regime financial inclusion confidence challenges in Zimbabwe. South African Journal of Economic and Management Sciences, 21(1). https://doi.org/10.4102/sajems.v21i1.1837 DOI: https://doi.org/10.4102/sajems.v21i1.1837

Niaz, M. U. (2022). Socio-Economic development and sustainable development goals: a roadmap from vulnerability to sustainability through financial inclusion. Economic Research-Ekonomska Istraživanja, 35(1), 3243–3275. https://doi.org/10.1080/1331677X.2021.1989319 DOI: https://doi.org/10.1080/1331677X.2021.1989319

Nizam, R., Karim, Z. A., Rahman, A. A., & Sarmidi, T. (2020). Financial inclusiveness and economic growth: new evidence using a threshold regression analysis. Economic Research-Ekonomska Istraživanja, 33(1), 1465–1484. https://doi.org/10.1080/1331677X.2020.1748508 DOI: https://doi.org/10.1080/1331677X.2020.1748508

Ozili, P. K. (2018). Impact of digital finance on financial inclusion and stability. Borsa Istanbul Review, 18(4), 329–340. https://doi.org/10.1016/j.bir.2017.12.003 DOI: https://doi.org/10.1016/j.bir.2017.12.003

Poulou, A. (2019). The Financialization of the Citizen. Social and Financial Inclusion through European Private Law. Common Market Law Review, 56(6), 1753–+. DOI: https://doi.org/10.54648/COLA2019133

Pradhan, R. P., Arvin, M. B., Nair, M. S., Hall, J. H., & Bennett, S. E. (2021). Sustainable economic development in India: The dynamics between financial inclusion, ICT development, and economic growth. Technological Forecasting and Social Change, 169. https://doi.org/10.1016/j.techfore.2021.120758 DOI: https://doi.org/10.1016/j.techfore.2021.120758

Pradhan, R. P., & Sahoo, P. P. (2021). Are there links between financial inclusion, mobile telephony, and economic growth? Evidence from Indian states. Applied Economics Letters, 28(4), 310–314. https://doi.org/10.1080/13504851.2020.1752893 DOI: https://doi.org/10.1080/13504851.2020.1752893

Ramzan, M., Amin, M., & Abbas, M. (2021). How does corporate social responsibility affect financial performance, financial stability, and financial inclusion in the banking sector? Evidence from Pakistan. Research in International Business and Finance, 55. https://doi.org/10.1016/j.ribaf.2020.101314 DOI: https://doi.org/10.1016/j.ribaf.2020.101314

Schoofs, A. (2022). Promoting financial inclusion for savings groups: A financial education programme in rural Rwanda. Journal of Behavioral and Experimental Finance, 34. https://doi.org/10.1016/j.jbef.2022.100662 DOI: https://doi.org/10.1016/j.jbef.2022.100662

Sha’ban, M., Girardone, C., & Sarkisyan, A. (2020). Cross-country variation in financial inclusion: a global perspective. European Journal of Finance, 26(4–5), 319–340. https://doi.org/10.1080/1351847X.2019.1686709 DOI: https://doi.org/10.1080/1351847X.2019.1686709

Shen, Y., Hueng, C. J., & Hu, W. X. (2020). Using digital technology to improve financial inclusion in China. Applied Economics Letters, 27(1), 30–34. https://doi.org/10.1080/13504851.2019.1606401 DOI: https://doi.org/10.1080/13504851.2019.1606401

Singh, K., Misra, M., & Yadav, J. (2021). Corporate social responsibility and financial inclusion: Evaluating the moderating effect of income. Managerial and Decision Economics, 42(5), 1263–1274. https://doi.org/10.1002/mde.3306 DOI: https://doi.org/10.1002/mde.3306

Singh, V. K., & Ghosh, S. (2021). Financial inclusion and economic growth in India amid demonetization: A case study based on panel cointegration and causality. Economic Analysis and Policy, 71, 674–693. https://doi.org/10.1016/j.eap.2021.07.005 DOI: https://doi.org/10.1016/j.eap.2021.07.005

Sisharini, N., Hardiani, S., & Ratnaningsih, C. S. (2019). Icreasing financial literacy and financial inclusion model to achieve MSMEs financial well being. International Journal of Scientific and Technology Research, 8(10), 314–317. https://www.scopus.com/inward/record.uri?eid=2-s2.0-85079112662&partnerID=40&md5=3021a48221d71cace3a44ae6b1d2c572

Sizoo, S. (2017). Sustainable Development Goals and the Role of Islamic Finance. Journal of Islamic Banking and Finance, 34(3), 1–10. https://www.scopus.com/inward/record.uri?eid=2-s2.0-85020212793&partnerID=40&md5=e1c45f722661236b6a49c85092fe1bf7

Tchamyou, V. S. (2019). Education, Lifelong learning, Inequality and Financial access: Evidence from African countries. Contemporary Social Science, 14(1), 12–33. https://doi.org/10.1080/21582041.2018.1433314 DOI: https://doi.org/10.1080/21582041.2018.1433314

Tlili, R., Chakroun, B., Tlili, E. H., & Al-Shammari, M. M. (2020). Financial inclusion and income inequality: A global perspective. Emerging Markets Review, 45. https://doi.org/10.1016/j.ememar.2020.100699 DOI: https://doi.org/10.1016/j.ememar.2020.100699

Vermoesen, V., Deloof, M., & Laveren, E. (2020). Corporate social responsibility and financial performance in microfinance institutions. Journal of Corporate Finance, 60. https://doi.org/10.1016/j.jcorpfin.2019.101561

Villano, R. A., Chan, C. C., & Mapa, D. S. (2021). Energy consumption, renewable energy, and financial development: Are the relationships symmetric or asymmetric? Structural Change and Economic Dynamics, 56, 22–29. https://doi.org/10.1016/j.strueco.2020.11.001 DOI: https://doi.org/10.1016/j.strueco.2020.11.001

Vu, H. T., Nguyen, V. T., & Vo, D. H. (2021). Financial Inclusion and Economic Growth: The Role of Governance in ASEAN Countries. Sustainability, 13(12), 1–17. https://doi.org/10.3390/su13126903 DOI: https://doi.org/10.3390/su13126903

Wu, S. F., Yang, C. Y., & Li, X. L. (2021). Financial Inclusion, Trade and Economic Growth in Asia-Pacific Region. Sustainability, 13(5), 1–14. https://doi.org/10.3390/su13052736 DOI: https://doi.org/10.3390/su13052736

Xu, T., Majeed, M. T., Chen, J., & Karim, M. Z. A. (2021). Technology innovation and financial inclusion in China: Do Fintech firms catalyze access to financial services? Economic Modelling, 94, 90–103. https://doi.org/10.1016/j.econmod.2020.12.029 DOI: https://doi.org/10.1016/j.econmod.2020.12.029

Yatim, P., & Naghavi, M. (2021). The nexus between financial inclusion, financial development, and economic growth in selected Islamic countries. International Journal of Islamic and Middle Eastern Finance and Management, 14(1), 20–42. https://doi.org/10.1108/IMEFM-03-2020-0111

Yildirim, C., & Esen, O. (2021). Banking regulation and digital transformation: evidence from the FinTech revolution. Applied Economics Letters, 28(2), 127–133. https://doi.org/10.1080/13504851.2020.1716021

Zhang, J., Zhang, J., Li, Q., & Wang, S. (2020). The impacts of financial inclusion on rural household income in China. Economic Analysis and Policy, 68, 120–130. https://doi.org/10.1016/j.eap.2020.05.006 DOI: https://doi.org/10.1016/j.eap.2020.05.006

Downloads

Published

2024-03-31

How to Cite

Idicula, E. J., & Xavier, M. (2024). TRACING THE TRAJECTORY OF FINANCIAL INCLUSION RESEARCH: A BIBLIOMETRIC ANALYSIS OF SCHOLARLY CONTRIBUTIONS (2004–2023). ShodhKosh: Journal of Visual and Performing Arts, 5(3), 2003–2015. https://doi.org/10.29121/shodhkosh.v5.i3.2024.6163