Effect of Macroeconomic indicators on Financial Inclusion: A Study of EAGLES Economies

Abstract

The effect of macroeconomic variables on financial inclusion in EAGLES economies is examined in this study. The Eagles economy, comprising nine nations—Brazil, China, India, Indonesia, South Korea, Mexico, Taiwan, and Turkey—is the foundation of the analysis. The data was examined from the other eight prefectures because Taiwan's data isn't available from 1992 to 2022. The findings demonstrate that the connection between financial inclusion and GDP is very weak—nearly zero—and linear. There is a very slight negative link between exchange rates and financial inclusion. Additionally, there is a very modest negative link between interest rates and financial inclusion. Interest rates and financial inclusion have a very weakly negative association. A very slight positive linear association is suggested between the inflation rate and financial inclusion. There is a slight positive link between financial inclusion and the unemployment rate.