Studying financial inclusion, energy poverty, and economic development of South Asian countries

This research investigated the association between financial inclusion, energy poverty alleviation, and economic development in South Asian countries and found significant connections. In order to make multilateral conclusions, we have created a panel of data for nations in South Asia and estimated not only the dynamic panel estimation but also the panel unit root, Kao (1999) estimates, and the ARDL tests for each country. A significant association between financial inclusion and economic development and poverty reduction is discovered by using dynamic panel estimates. Economic development has also been shown to have a favorable influence on energy poverty alleviation. According to the findings of the ARDL analysis, financial inclusion has a beneficial influence on economic development. Financial inclusion and economic growth have reciprocal causalities in energy poverty alleviation, as shown by the study’s testing of this association. As a result, it is acceptable to infer that financial inclusion favors economic development and poverty reduction in South Asia. The study also suggests the policy implications for stakeholders.