Does microfinancing, financial inclusion, and educational loans alleviate poverty and inequality: evidence from Vietnam
Abstract
Poverty reduction is considered as the top priority of governments and international institutions. At the same time income inequality is a far-reaching concern especially in emerging nations. US former president even labelled income inequality and poverty are the challenges of our times. Theoretically there are different views on the impact of microfinancing and financial inclusion on income inequality and poverty, hence, it is interesting to evaluate these estimations in Vietnamese context from 1986 to 2020. The researchers have applied the Bayesian Auto-regressive Distributed Lags (BARDL) model and exposed that microfinancing, financial inclusion, educational loans increase income equality and reduces poverty. Based on the evidences, the paper implies that government institutions must focus on microfinancing and financial inclusion aspects to facilitate poor and boost prosperity which ultimately brings income equality.
First published online 21 November 2023
Keyword : microfinancing, financial inclusion, educational loans, alleviation of poverty and inequality, industrialization, Vietnam
How to Cite
Tran, T. K. (2023). Does microfinancing, financial inclusion, and educational loans alleviate poverty and inequality: evidence from Vietnam. Technological and Economic Development of Economy, 29(6), 1687–1707. https://doi.org/10.3846/tede.2023.20348
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Ghazouani, T., Boukhatem, J., & Sam, C. Y. (2020). Causal interactions between trade openness, renewable electricity consumption, and economic growth in Asia-Pacific countries: Fresh evidence from a bootstrap ARDL approach. Renewable and Sustainable Energy Reviews, 133, Article 110094. https://doi.org/10.1016/j.rser.2020.110094
Hassan, M. S., Bukhari, S., & Arshed, N. (2020). Competitiveness, governance and globalization: What matters for poverty alleviation? Environment, Development and Sustainability, 22(4), 3491–3518. https://doi.org/10.1007/s10668-019-00355-y
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Khan, S., Yahong, W., & Zeeshan, A. (2022). Impact of poverty and income inequality on the ecological footprint in Asian developing economies: Assessment of Sustainable Development Goals. Energy Reports, 8, 670–679. https://doi.org/10.1016/j.egyr.2021.12.001
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Lal, T. (2018). Impact of financial inclusion on poverty alleviation through cooperative banks. International Journal of Social Economics, 45(5), 808–828. https://doi.org/10.1108/IJSE-05-2017-0194
Marin-Garcia, A., Gil-Saura, I., & Ruiz-Molina, M. E. (2022). Do innovation and sustainability influence customer satisfaction in retail? A question of gender. Economic Research-Ekonomska Istraživanja, 35(1), 546–563. https://doi.org/10.1080/1331677X.2021.1924217
Meirun, T., Mihardjo, L. W., Haseeb, M., Khan, S. A. R., & Jermsittiparsert, K. (2021). The dynamics effect of green technology innovation on economic growth and CO2 emission in Singapore: New evidence from bootstrap ARDL approach. Environmental Science and Pollution Research, 28(4), 4184–4194. https://doi.org/10.1007/s11356-020-10760-w
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Michálek, A., & Výbošťok, J. (2019). Economic growth, inequality and poverty in the EU. Social Indicators Research, 141(2), 611–630. https://doi.org/10.1007/s11205-018-1858-7
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Mushtaq, R., & Bruneau, C. (2019). Microfinance, financial inclusion and ICT: Implications for poverty and inequality. Technology in Society, 59, 101–116. https://doi.org/10.1016/j.techsoc.2019.101154
Narloch, U., & Bangalore, M. (2018). The multifaceted relationship between environmental risks and poverty: New insights from Vietnam. Environment and Development Economics, 23(3), 298–327. https://doi.org/10.1017/S1355770X18000128
Ncube, M., Anyanwu, J. C., & Hausken, K. (2014). Inequality, economic growth and poverty in the Middle East and North Africa (MENA). African Development Review, 26(3), 435–453. https://doi.org/10.1111/1467-8268.12103
Neaime, S., & Gaysset, I. (2018). Financial inclusion and stability in MENA: Evidence from poverty and inequality. Finance Research Letters, 24, 230–237. https://doi.org/10.1016/j.frl.2017.09.007
Ngoc, B. H., & Awan, A. (2022). Does financial development reinforce ecological footprint in Singapore? Evidence from ARDL and Bayesian analysis. Environmental Science and Pollution Research, 29(16), 24219–24233. https://doi.org/10.1007/s11356-021-17565-5
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Ogbeide, S. O., & Igbinigie, O. O. (2019). Financial inclusion and poverty alleviation in Nigeria. Accounting and Taxation Review, 3(1), 42–54.
Osakwe, P. N. (2018). Unlocking the potential of the power sector for industrialization and poverty alleviation in Nigeria. In The service sector and economic development in Africa (pp. 159–180). Routledge. https://doi.org/10.4324/9781315627373-10
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