Journal Articles
Permanent URI for this collectionhttp://10.0.100.92:4000/handle/123456789/21
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Item Nexus Between Indian Economic Growth and Remittance Inflows: A Non-linear ARDL Approach(Asia-Pacific Financial Markets, 2024-09) Villanthenkodath, Muhammed Ashiq; Ansari, Mohd ArshadThis study examines the empirical link between remittance inflows and India's economic growth, particularly emphasizing the association's asymmetries as the prior studies were neglected. Therefore, it formulated a growth function that assesses the non-linear influence of the remittance inflows on economic growth by endogenizing the gross fixed capital formation, official exchange rate, and export growth. Relying on the annual time series data for India, the work uses the Non-Linear Auto-Regressive Distribution Lag (NARDL) model to expose the non-linear influence of the remittance inflows on economic growth by controlling the gross fixed capital formation, official exchange rate, and export growth for the period ranges from 1975 to 2021. The outcomes show the presence of the long-run relationship among the variables vector. Further, the results indicate an asymmetric impact of remittance inflows on economic growth both in the long run and short run. Moreover, the findings reveal a rise in the remittance inflows leads to an increase in economic growth, whereas a fall in the remittance inflows ends up in a reduction of economic growth. Additionally, the outcomes show a negative and significant impact of gross fixed capital formation and official exchange rate on economic growth in the long run. It also observed an insignificant negative influence of export growth on the specified growth model.Item An asymmetric analysis of overall globalization on financial inclusion(Journal of Financial Economic Policy, 2025-02-21) Villanthenkodath, Muhammed Ashiq; Pal, ShreyaPurpose Financial inclusion is acknowledged as a critical facilitator of the United Nations Sustainable Development Goals agenda for 2030. Therefore, this study aims to examine the asymmetric role of overall globalization on financial inclusion by controlling economic growth, urbanization and population for the selected South Asian countries. Design/methodology/approach Applying the nonlinear autoregressive distributed lag approach to cointegration explores the impact of overall globalization on financial inclusion in the presence of additional variables like economic growth, urbanization and population in the designed financial inclusion function. Findings The estimated econometric outcomes show that increasing overall globalization fosters financial inclusion while decreasing overall globalization reduces financial inclusion. Furthermore, a positive (negative) change in economic growth leads to an increase (decrease) in financial inclusion while varying short-run findings. Moreover, both positive and negative changes increase financial inclusion in the long run in connection with urbanization. Although the short-run results are not significant, the study finds that an increase (decrease) in population leads to a decrease (increase) in financial inclusion. Finally, to support the promotion of financial inclusivity throughout South Asia, several policies pertaining to financial inclusion are suggested. Originality/value To the best of the authors’ knowledge, this is the first study to examine the asymmetries related to overall globalization on financial inclusion by controlling economic growth, urbanization and population.