A study of the effect of financial inclusion on economic development in Zambia.
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Date
2020
Authors
Mweetwa, Chilombo Shinga
Journal Title
Journal ISSN
Volume Title
Publisher
The University of Zambia
Abstract
Financial development enhances human development, and access to financial services makes a positive impact on people‘s lives, particularly the poor. The
importance of an inclusive financial system, across the globe, is widely recognized in the policy circles and has become a policy priority in many countries including Zambia. This research project attempted to show how financial inclusion is correlated with standard measures of economic development in Zambia. The objective of the study was to review existing sources of detailed data on financial inclusion and economic development and establish the relationship between financial inclusion and economic development in Zambia and make recommendations. The study found out that there is a positive relationship between financial inclusion and economic development and an increase in financial inclusion leads to an increase in economic development. This was revealed by the various correlation tests and regression test carried out. The study also revealed that the selected independent variables on financial inclusion explain 97.10% of the variation in the dependent variable (Human Development Index). The study recommended the need for the Zambian Government to identify, develop and implement workable polices to enhance financial inclusion and in turn improve the lives of people.
Description
Thesis of Master of Business Administration in Finance