Pathways to progress: Navigating financial inclusion, poverty and economic well-being

Abstract

This thesis explores the connection between different economic indicators and societal perspectives on the alleviation of poverty and the well-being of society in general. The paper employs descriptive statistics and correlation analysis to understand the relationship between financial inclusion, trade, industrialization, remittances, and per capita GDP with respect to societal perceptions. It finds that the connections are complex, with some negative and others positive. Further, significant associations between economic indicators and viewpoints are identified by linear regression models, showing different impacts of economic indicators in connection to viewpoints, such as financial inclusion, trade, industrialization, remittances, and per capita GDP. The analysis also examines the slope heterogeneity between groups or conditions, which shows a large variation in the relationships represented by the slope coefficients. Despite its limitations, however, including data quality problems, using cross sectional data, and potential endogeneity concerns, the study should be interpreted with care. To overcome these drawbacks and to advance future studies, recommendations are to conduct longitudinal studies, incorporate qualitative techniques, increase the quantity of data collected, and apply more sophisticated econometric techniques. In conclusion, the overall aim of this thesis is to increase the understanding of the complex relationship between economic indicators and societal viewpoints, which are of value for policy makers and researchers developing effective poverty alleviation policies and promoting societal well-being.