The Inter-relationship between Financial Empowerment, Governance and Human Development: Evidence from the G-20 Nations
The study delves into the intricate relationship between Financial Empowerment, Governance and Human Development, focusing on the G-20 countries as a representative sample of Diverse Economies and Socio-Political contexts. The main objective of this study is to discern how these Three Interconnected...
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| Format: | Article |
| Language: | English |
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Tishk International University
2023-12-01
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| Series: | Eurasian Journal of Management & Social Sciences |
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| Online Access: | https://ejmss.tiu.edu.iq/index.php/ejmss/article/view/11 |
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| author | Alok Arun Bibhuti Bhusan Mishra Sibanjan Mishra |
| author_facet | Alok Arun Bibhuti Bhusan Mishra Sibanjan Mishra |
| author_sort | Alok Arun |
| collection | DOAJ |
| description | The study delves into the intricate relationship between Financial Empowerment, Governance and Human Development, focusing on the G-20 countries as a representative sample of Diverse Economies and Socio-Political contexts. The main objective of this study is to discern how these Three Interconnected Dimensions contribute to Sustainable and Inclusive Human Development. The manuscript explores an extensive study for 2000-2021 in the G-20 Nations. We used the Financial Development Index to represent Financial Empowerment and constructed a Governance Index using principal components analysis (PCA). We also used the Human Development Index to represent the Human Development aspect and took GDP Growth as a control variable. The study uses the Unit Root Test and Panel Co-integration Test to check the Stationarity of these Variables. The FMOLS and DOLS are used to study the Regression results among the variables to determine the Effects of the variables upon each other. The manuscript also uses the Granger Causality to check the Directional Relationship among the variables to state that these variables have relational value within themselves. The FMPLS and DOLS results stated a positive relationship between the variables, showing a solid governance factor in the G-20 countries and proper advancement in the society by investing in the human development aspect by having proper access to the financial investments. The causality showed a unidirectional causality between financial empowerment and governance and a bi-directional causality between financial empowerment and economic progress. |
| format | Article |
| id | doaj-art-6ac50b6ed661493b9f94a1f90fb6cd95 |
| institution | Matheson Library |
| issn | 2708-177X 2708-034X |
| language | English |
| publishDate | 2023-12-01 |
| publisher | Tishk International University |
| record_format | Article |
| series | Eurasian Journal of Management & Social Sciences |
| spelling | doaj-art-6ac50b6ed661493b9f94a1f90fb6cd952025-07-27T09:37:14ZengTishk International UniversityEurasian Journal of Management & Social Sciences2708-177X2708-034X2023-12-014220221510.23918/ejmss.V4i2p20211The Inter-relationship between Financial Empowerment, Governance and Human Development: Evidence from the G-20 NationsAlok Arun0Bibhuti Bhusan Mishra1Sibanjan Mishra2Research Scholar, Institute of Business & Computer Studies, K-8, Near SUM Hospital, Ghatikia Kalinga Nagar, Bhubaneswar, Pin-751029, Odisha, INDIAAssociate Professor, Institute of Business & Computer Studies, K-8, Near SUM Hospital, Ghatikia Kalinga Nagar, Bhubaneswar, Pin-751029, Odisha, INDIAAssociate Professor, School of Commerce, XIM University, Plot No:12(A), Nijigada, Kurki, Harirajpur, Bhubaneswar, India.The study delves into the intricate relationship between Financial Empowerment, Governance and Human Development, focusing on the G-20 countries as a representative sample of Diverse Economies and Socio-Political contexts. The main objective of this study is to discern how these Three Interconnected Dimensions contribute to Sustainable and Inclusive Human Development. The manuscript explores an extensive study for 2000-2021 in the G-20 Nations. We used the Financial Development Index to represent Financial Empowerment and constructed a Governance Index using principal components analysis (PCA). We also used the Human Development Index to represent the Human Development aspect and took GDP Growth as a control variable. The study uses the Unit Root Test and Panel Co-integration Test to check the Stationarity of these Variables. The FMOLS and DOLS are used to study the Regression results among the variables to determine the Effects of the variables upon each other. The manuscript also uses the Granger Causality to check the Directional Relationship among the variables to state that these variables have relational value within themselves. The FMPLS and DOLS results stated a positive relationship between the variables, showing a solid governance factor in the G-20 countries and proper advancement in the society by investing in the human development aspect by having proper access to the financial investments. The causality showed a unidirectional causality between financial empowerment and governance and a bi-directional causality between financial empowerment and economic progress.https://ejmss.tiu.edu.iq/index.php/ejmss/article/view/11financial empowermentgovernancehuman developmentfmolsdolscausality |
| spellingShingle | Alok Arun Bibhuti Bhusan Mishra Sibanjan Mishra The Inter-relationship between Financial Empowerment, Governance and Human Development: Evidence from the G-20 Nations Eurasian Journal of Management & Social Sciences financial empowerment governance human development fmols dols causality |
| title | The Inter-relationship between Financial Empowerment, Governance and Human Development: Evidence from the G-20 Nations |
| title_full | The Inter-relationship between Financial Empowerment, Governance and Human Development: Evidence from the G-20 Nations |
| title_fullStr | The Inter-relationship between Financial Empowerment, Governance and Human Development: Evidence from the G-20 Nations |
| title_full_unstemmed | The Inter-relationship between Financial Empowerment, Governance and Human Development: Evidence from the G-20 Nations |
| title_short | The Inter-relationship between Financial Empowerment, Governance and Human Development: Evidence from the G-20 Nations |
| title_sort | inter relationship between financial empowerment governance and human development evidence from the g 20 nations |
| topic | financial empowerment governance human development fmols dols causality |
| url | https://ejmss.tiu.edu.iq/index.php/ejmss/article/view/11 |
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