ДЕРЖАВНЕ РЕГУЛЮВАННЯ ІНКЛЮЗИВНОЇ ЕКОНОМІКИ В УКРАЇНІ

After 65 years of independence, large sections of Indian population still remain unbanked. This has led generation of financial instability and lower income group who do not have access to financial products and services. However, in the recent years the government and Reserve Bank of India has been introduced the concept and idea of financial inclusion.Financial inclusion is an important method of economic development of a nation. Financial sector inclusion is very important component of inclusive growth strategy. Financial inclusion can be described as the delivery of banking and other financial services at affordable costs to the vast section of the disadvantaged and low income groups. It plays very vital role in economic progress. Financial sector inclusion helps in eliminating poverty, reducing inequality, eliminating unequal access to opportunities, reducing inequalities of choice. This study tries to understand policy initiatives by the govt for financial inclusion, reasons for financial exclusion, steps taken by the government for financial inclusion and implications of financial inclusion. This study is mainly based on secondary data and collected information from books, journals and website.

The article provides a comprehensive analysis of the socio-economic aspects of the development of an inclusive economy in Ukraine in the context of contemporary transformational processes. It examines theoretical approaches to interpreting the concept of “inclusive economy” and substantiates its importance as a tool for ensuring sustainable and balanced socio-economic growth. Particular attention is paid to the analysis of social dimensions of inclusive development, including employment, social protection, and the reduction of income inequality. The study identifies the economic drivers of the formation of an inclusive economy, among which the key ones are the development of human capital, support for small and medium-sized enterprises, the promotion of social entrepreneurship, and the digitalisation of economic processes. Special emphasis is placed on the transformation of the inclusivity model in Ukraine, particularly in the context of digital and just economic transformation, as well as on the application of the RISE and SPIRIT tools to ensure socio-economic resilience. The paper analyses the key problems and challenges associated with implementing an inclusive economy in Ukraine, including regional disparities, institutional constraints, and limited financial resources. It substantiates the priority directions of socio-economic policy aimed at fostering an inclusive economic environment and integrating the inclusivity principles into Ukraine’s post-war recovery strategies. The article also examines the socio-economic relations that emerge in the process of developing an inclusive economy in Ukraine under conditions of structural transformation and post-war challenges. The author substantiates the theoretical foundations of the inclusive economy and identifies priority directions for its development in Ukraine, taking into account relevant socio-economic factors. The study presents significant research findings that can be used in the formulation and implementation of socio-economic policies aimed at creating an inclusive economic environment, as well as in the development of post-war recovery and sustainable development strategies in Ukraine. It is emphasised that the integration of inclusivity principles into state economic policy is a necessary prerequisite for enhancing social cohesion and ensuring the long-term competitiveness of the national economy.

Financial inclusion in mountainous, tribal districts hinges on a triad of determinants—human capability, last‑mile delivery reliability, and product-market fit. This paper provides a district‑level analysis for Ri‑Bhoi, Meghalaya, using (i) a structured household survey (n = 614) administered across ten villages in three blocks, and (ii) a focused review of scholarship and policy documents pertinent to the Northeast and India at large. The survey instrument, piloted with 62 participants and refined through cognitive interviewing, demonstrated acceptable internal reliability with a Cronbach’s α of 0.727. Descriptive indicators of access and usage were analyzed, followed by cross-tabulations and χ² associations, and subsequently by multiple regression and a structural equation model (SEM) to map pathways related to financial inclusion, in alignment with previous analyses of micro-finance efficacy in rural Meghalaya (Zhimomi & Karim, 2017, pp. 188-195).access and usage (savings, remittances, loans, insurance) to financial inclusion and, in turn, to empowerment and development outcomes. Basic account ownership among Ri‑Bhoi respondents is high (84.7%), yet balances are shallow, and usage is frequently sustained by program‑linked inflows such as MGNREGS. Loan uptake in Ri-Bhoi district stands at 71.2 per cent; however, qualitative findings indicate that borrowed funds are primarily used for consumption smoothing and minor working capital rather than for asset creation. Regression analysis demonstrates that inclusive growth in Ri-Bhoi is most closely linked to individual development, with economic and regional development following, as indicated by an R² value of approximately 0.964 (Tomging & Manjare, 2026, pp. 1-21). SEM confirms direct effects of savings, remittances, and insurance on inclusion; inclusion then enhances economic empowerment, while social empowerment connects to individual and regional development. We situate Ri‑Bhoi findings against India’s aggregate Financial Inclusion Index (FI‑Index)—which improved from 64.2 (March 2024) to 67.0 (March 2025)—to underline that national gains are increasingly usage/quality‑led and that district strategies must focus on the intensive margin. Policy recommendations for Ri‑Bhoi emphasise SHG‑anchored capability programs, professionalised and well-capitalised BC networks, cash‑flow‑aligned products, and robust consumer protection with transparent grievance redress and uptime metrics (Reserve Bank of India, 2025; Press Information Bureau, 2025).

The main objective of this study is to evaluate the relationship between Financial Inclusion and Human Development with a special focus on Sub-Saharan Africa. The specific objectives of the study include the following: to understand the concept of Financial Inclusion and Human Development; to analyze the factors that influence Financial Inclusion in Sub-Sahara Africa; to determine the type of relationship between Financial Inclusion and Human Development in the case of Sub-Saharan Africa, and to examine the relationship between Financial Inclusion and human development. A critical review and analysis of selected theoretical reviews and empirical articles and policy documents on Financial Inclusion and Human Development have been used as the methodology for this study. Using empirical and theoretical evidence, the study concludes that, in Sub-Saharan Africa, t here is a strong relationship between Financial Inclusion and Human Development. Further, f rom the empirical and theoretical evidence provided in the study, it is recommended that SSA countries need to remove financial, bureaucratic, and physical barriers to financial inclusiveness. Therefore, Sub-Saharan Africa should formulate and implement policies that will enhance Financial Inclusion, consequently, the Human Development of the masses. Finally, it can be considered that enhanced GDP is an eminent gauge of financial inclusion. Unequal wealth distribution can consequent in financial inclusion and thus can harm overall Human Development. The study further concludes that there is a positive correlation between Human Development and Financial Inclusion. Furthermore, the study considers that economic development is undeniably a vital element in enhancing financial inclusion. Keyword: Financial Inclusion; Human Development; Human Development Index; HDI; Inequality-Adjusted Human Development Index; IHDI, Sub-Saharan Africa; SSA; Sustainable Development Goals; SDGs DOI: 10.7176/JESD/13-20-11 Publication date: October 31 st 2022

Introduction. Financial inclusion in Ukraine is an important component of the country’s economic and social development. It provides availability and access to financial services and products for the entire population, regardless of their social status, financial condition and geographical location. Here are some key aspects of financial inclusion in Ukraine: banking sector, mobile money and electronic payments, development of macro-financial institutions, growth of financial literacy, regulation and protection of consumer rights, reduction of financial vulnerability, increasing role of international cooperation. Financial inclusion in Ukraine is an important factor for increasing the country’s economic well-being and stability. However, there are challenges, such as ensuring access to financial services in rural regions and increasing the level of financial literacy of the population, which require attention and solutions for the further development of this direction. The purpose of the article is to determine the features of the current state of financial inclusion in Ukraine, as well as to present the main trends of its development. Results. The article analyzes the difference between the concepts of “inclusion” and “inclusiveness”, presents their main features and differences, which further makes it possible to dis tinguish between these categories when studying the current state of economic processes. The main trends in the development of financial inclusion in Ukraine are determined based on the trends in the development of financial and economic inclusion in the world. The main features of the current state of economic inclusion in Ukraine are presented. Conclusions. According to the results of the study, it is proven that today, the state of financial inclusion in Ukraine shows a certain progress and expansion of access to financial services. However, there are still certain challenges and tasks that require attention and solutions for the further development of this direction. The main conclusions regarding the state and trends of the development of financial inclusion in Ukraine include the following: growing access to banking services, growth of electronic payments and mobile money, development of macro-financial institutions, focus on improving financial literacy, strengthening cooperation with international organizations. The presented research results make it possible to determine that financial inclusion is an important factor for increasing the economic well-being and stability of Ukraine. The presented trends show some progress in this direction, but it is necessary to continue work to ensure access of all citizens to financial services and further improve financial inclusion in the country.

Financial inclusion, defined as the proportion of individuals and firms making use of formal financial services, has become a central theme in discussions about how to achieve so-called inclusive development. Inclusive development refers to striving for equal development of all individuals, particularly including marginalized (that is the very poor) groups. According to many, financial inclusion plays an important role in achieving inclusive development. Unequal access to financial services can exclude people from the process of economic growth. This chapter studies the role of financial inclusion in the development process, taking a cross-country perspective in South East Asia as well as an interregional perspective using data from Indonesia. We first develop a conceptual model, linking financial inclusion operationalized as bank branch access, to economic growth. Based on this conceptual model, the empirical part of our analysis consists of three sections. First, we use an Asian cross-country comparison to enrich our understanding of the main patterns of financial inclusion and inclusive growth. Second, turning to the case of Indonesia, we first discuss the processes of restructuring and regionalization of the banking sector. These processes have led to substantial changes in access to banking services, particularly in nonurban areas. Third, we provide econometric evidence on the relationship between regional access to bank branches and regional economic development, demonstrating that financial inclusion is associated with per capita economic output at the provincial level. The Indonesian regional analysis relies on a panel regression of 33 provinces over 5 years (2011–2015). We find that financial access is significantly and positively associated with the regional economic level of development in Indonesia, controlling for the general economic circumstances and development level of the region. These results suggest there is a definite challenge for the government to shift the development approach toward inclusive growth through financial inclusion. This finding may help developing targeted interventions aimed at increasing the regional bank branch coverage in Indonesia.KeywordsFinancial inclusionInclusive growthPanel analysisIndonesiaSouth East Asia

Purpose This study aims to explore how institutional quality links digital financial inclusion to inclusive development in lower-middle-income countries, considering heterogeneities. Design/methodology/approach The study uses dynamic generalized method of moments to analyze a balanced panel data set of 48 lower-middle- income countries (LMICs) from 2004 to 2022, sourced from various databases. It assesses four variables and conducts checks for study robustness. Findings The study reveals a positive link between digital financial inclusion and inclusive development in LMICs, confirming theoretical predictions. Empirically, nations with quality institutions exhibit greater financial and developmental inclusion than those with weak institutions, emphasizing the substantial positive impact of institutional quality on the connection between digital financial inclusion and inclusive development in LMICs. For instance, the interaction effect reveals a substantial increase of 0.123 in inclusive development for every unit increase in digital financial inclusion in the presence of strong institutions. The findings provide robust empirical evidence that the presence of quality institutions is a key catalyst for the benefits of digital finance in inclusive development. Originality/value This study offers significant insights into digital financial inclusion and inclusive development in LMICs. It confirms a positive relationship between digital financial inclusion and inclusive development, highlighting the pivotal role of institutional quality in amplifying these benefits. Strong institutions benefit deprived individuals, families, communities and businesses, enabling full access to digital financial inclusion benefits. This facilitates engagement in development processes, aiding LMICs in achieving Sustainable Development Goals.

This study aims to explain the effect of fintech on financial literacy and inclusion in MSMEs in Kupang City. This research is a quantitative research with primary data, namely by distributing questionnaires to MSMEs in Kupang City. The data analysis technique used was path analysis using SPSS software version 29. Respondents in this study were 100 SMEs in Kupang City. The results of this study indicate that fintech has a significant positive effect on financial literacy in MSMEs in Kupang City, fintech has a significant positive effect on financial inclusion in MSMEs in Kupang City, financial literacy has a significant positive effect on financial inclusion in MSMEs in Kupang City, fintech has a significant positive effect on financial literacy through financial inclusion in MSMEs in Kupang City. With these results, it is hoped that MSMEs need to increase the use of financial technology because it has been proven to increase financial literacy and inclusion

Purpose This paper aims to investigate the association between financial inclusion and sustainable development in a global context. Design/methodology/approach The study used two datasets, and employed the Pearson correlation analysis and granger causality test to examine the correlation and pairwise causality between financial inclusion and sustainable development. Findings High levels of financial inclusion (in terms of higher commercial bank branches per 100,000 adults) is significantly associated with higher electricity production from renewable sources, higher industry productivity, higher adult literacy rate and higher renewable electricity output. Also, higher financial inclusion is significantly associated with low combustible renewables and waste. There is a uni-directional granger causality between global interest in internet information about sustainable development and global interest in internet information about financial inclusion, particularly in the period after the global financial crisis but before the COVID-19 pandemic. Practical implications The correlation between financial inclusion and sustainable development depends on the indicators employed to measure financial inclusion and sustainable development. The results support global calls for greater financial inclusion and the speedy attainment of the sustainable development goals for the good of all people, the environment and for the planet. Originality/value This paper is the first study in the literature to analyze the link between financial inclusion and sustainable development using global data. This study contributes to the existing literature by investigating the association between financial inclusion and sustainable development in a global context.

Purpose : This study investigated the direct relationship between financial inclusion (FI) and socio-economic development (SED) of rural households in Odisha, India. Furthermore, the indirect relationship between financial inclusion and socio-economic development, with social empowerment (SE) as a mediating variable, was examined.Methodology : Data for the primary survey were collected from 545 rural households in Odisha, India, using a structured questionnaire. The study conducted exploratory factor analysis, confirmatory factor analysis, and path analysis to investigate the interrelationships among financial inclusion, socio-economic development, and social empowerment of households in rural Odisha.Findings : The primary research findings revealed that financial inclusion had a positive influence on the socio-economic development of rural households in Odisha, enhancing their access to formal banking and financial services. Another key finding was that social empowerment partially mediated the relationship between financial inclusion and socio-economic development. Furthermore, social empowerment contributed to the overall socio-economic well-being of these rural households and the rural economy by enlarging people’s choices and capabilities.Implications : This study underscored the importance of both direct and indirect pathways through which financial inclusion influences socio-economic development. The results would be helpful for the government, non-governmental organizations, and policymakers in guiding targeted interventions while preparing various financial inclusion and rural development programs. Financial institutions and financial service providers could use these insights to develop strategies that not only provide financial services to rural households but also design and support social empowerment initiatives.Originality : This research contributed to the existing literature by examining the impact of financial inclusion on rural households in Odisha and emphasizing the mediating role of social empowerment as a catalyst. It also studied multiple dimensions of financial inclusion and socio-economic development to improve the socio-economic conditions of these households in rural Odisha, India.

Introduction. The concept of inclusive growth is one of the most effective modern theories of socio-economic development. Given the problems in the Ukrainian economy and the lack of financial resources, in-depth research is needed to find mechanisms for financing projects and programs for inclusive growth, to adapt them to the conditions of decentralization and practical use in local government. The purpose of the research is to substantiate the feasibility of implementing the concept of inclusive development and to reveal the features of mechanisms for financing inclusive development programs to intensify the processes of socio-economic growth in Ukraine under decentralization. Results. The essence of the inclusive type of development is revealed and the necessity of its introduction in Ukraine is substantiated. The legislative bases of inclusive development in Ukraine are analysed. It is determined that the search for financial resources for the implementation of programs and projects aimed at achieving certain goals remains a problematic issue. Four main mechanisms for financing inclusive development projects and programs have been identified and characterized: budgetary; investment; credit; grant. The analysis of the financing of development programs for the period of decentralization is carried out. The structure of revenues of local budgets of Ukraine was assessed and it was established that tax revenues were of the greatest fiscal importance among own revenues. In order to create additional sources of attracting resources to local budgets, it is proposed to adopt the practice of self-taxation of residents of territorial communities. Conclusions. In order to ensure sufficient funding for inclusive development programs and projects, it is necessary to use all possible mechanisms to attract funds from local and state budgets, business entities, and international organizations. The main mechanisms for financing local socio-economic development programs are budget, investment, credit, and grant. The practice of self-taxation of residents of territorial communities can be an important source of additional resources for financing inclusive development programs. Keywords: inclusive development, financing, local budgets, inclusive development projects, financing mechanisms.

In the current conditions of wartime challenges and profound transformations in Ukraine’s economy, ensuring inclusive socio-economic development of regions becomes particularly relevant. The war significantly alters the functioning of regional economic systems, necessitating the adaptation of existing development models to account for security factors, disrupted access to resources, and increasing interregional disparities. The purpose of this study is to substantiate an adaptive model of inclusive socio-economic development of regions of Ukraine under wartime risks. The study applies a systemic approach to analyzing transformations in inclusive regional development during the wartime period. A set of general scientific and specialized research methods was employed, including scientific generalization, systemic analysis, comparative analysis, and modeling. This made it possible to identify the specific features of regional economic systems functioning under different security conditions and to substantiate approaches to the formation of an adaptive development model. The main hypothesis of the study is that inclusive regional development under wartime conditions acquires a regionally differentiated character and requires transformation of its supporting mechanisms with a focus on stabilization, adaptation, and recovery. The study substantiates the conceptual foundations of an adaptive model of inclusive socio-economic development of regions, which considers their typology (frontline, de-occupied, support, and rear regions) and differences in the formation of economic and social benefits. Key directions for transforming mechanisms supporting inclusive development are identified, including regulatory, institutional, infrastructural, and financial-investment mechanisms. A typology of inclusive development models, depending on the region and dominant development components, is proposed. The theoretical significance of the study lies in developing scientific approaches to the formation of an inclusive model of regional development under wartime risks. The practical significance of the results lies in their potential application in the development of regional policy, economic recovery programs, and managerial decision-making aimed at ensuring resilience and inclusiveness of regional development. The scientific novelty of the study lies in substantiating an adaptive model of inclusive socio-economic development of regions that accounts for the impact of wartime factors and the differentiation of regions according to their operating conditions. Keywords: inclusive development; regional socio-economic development; regional economy; wartime risks; adaptive model; inclusive economy; regional policy; development resilience.

This article empirically investigates the quantitative relationship between financial inclusion and inclusive growth in the East Africa Region. The study employs Driscoll and Kraal's augmented fixed effects estimation technique to analyze data from 2011 to 2021 for five Eastern African Countries. The results show that inclusive growth is positively impacted by financial inclusion. In terms of usage of financial services by gender, on average, a percentage increase in female account ownership and male account ownership will lead to a 0.025% and 0.024% increase in inclusive growth, respectively. The study also found a link between prosperity and inclusive development. This data emphasizes the need for the creation of special agents' tools to provide financial services to the underprivileged and women, as well as the recommendation that financial institutions implement programs to raise adult populations' financial literacy in order to increase access and usage of financial services.Nexus Between Financial Inclusion and Inclusive Growth, The East Africa Case Study

People are still not aware of the surrounding digital environment so they cannot use their income to save, invest, protect and meet economic needs. The purpose of this study is to determine the role of the community in improving financial literacy and financial inclusion, using library research methods in the form of books, journals, and issues that are currently developing. The result of the research is that with the advantages that the sharia community has as an inseparable part of the social system of the Muslim community in Indonesia, the community has the potential to play its role in developing Islamic financial literacy and inclusion in Indonesia. The potential possessed by the community at least includes, among others, helping to support the National Strategy for Indonesian Financial Literacy; mediator development of Islamic financial literacy and inclusion through social capital; and open cooperation with a participatory culture. Keywords: Community, Financial Literature, and Financial Inclusion

This research delves into the pivotal role of Financial Technology (FinTech) in advancing the financial sector, sustainable development, and financial inclusion. Employing a descriptive-qualitative approach and the systematic literature review (SLR) method, the study investigates FinTech's interplay with Sustainable Development, Financial Inclusion, and Economic Development globally. A meticulous Scopus search utilizing keywords like "Fintech," "SDGs," "Financial Inclusion," and "Economic Development" ensures a thorough review of pertinent literature. The results underscore FinTech's substantial impact on Sustainable Development, Financial Inclusion, and Economic Development, acting as a crucial catalyst for financial inclusion and mediating sustainable growth through financial literacy. Furthermore, FinTech exhibits the potential to underpin sustainable economic growth, financial inclusion, and Economic Development by enhancing financial service accessibility, reducing poverty, and fostering gender equality. Challenges persist, particularly in the Pacific region, where issues of accessibility, awareness, literacy, and trust impede FinTech adoption. The study advocates for awareness campaigns, financial education, and infrastructure development to surmount these obstacles. In conclusion, while FinTech significantly influences financial inclusion and economic growth, its broader impact on Sustainable Development, Financial Inclusion, and Economic Development necessitates careful consideration. The research emphasizes the imperative for interdisciplinary collaboration, global cooperation, and vigilant strategies to address challenges and leverage opportunities arising from the rapid integration of digital financial services for inclusive and sustainable Economic Development.