TY  - RPRT
        AU  - CHEIKH, Nidhaleddine BEN
AU  - Rault, Christophe
        TI  - Financial Inclusion for Inclusive Growth
        PY  - 2026/Apr/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 18582
        UR  - https://www.iza.org/publications/dp18582
        AB  - Using a sample of 67 countries, this paper examines how financial inclusion shapes the transition to inclusive and sustainable growth. First, we analyze the heterogeneous and asymmetric effects of key determinants using panel quantile regression. The results show that financial inclusion, institutional quality, and ICT diffusion significantly affect inclusiveness only in the lower tail of the distribution. While financial inclusion and ICT diffusion appear detrimental, institutional quality promotes shared prosperity. Second, we explore a mediating effect using a non-linear panel threshold model. The findings highlight the role of financial inclusion in enhancing inclusive growth. Although ICT infrastructure negatively affects inclusiveness at low levels of financial inclusion, this relationship becomes positive beyond a certain threshold. These results suggest that policymakers should combine financial inclusion, governance quality, and ICT development to foster inclusive growth.
        KW  - inclusive growth
KW  - financial inclusion
KW  - non-linear panel data modelling
        ER  -