University of Oulu

Saqib Amin, Iftikhar Yasin & Anna Rutkowska-Ziarko (2023) Diversity-inclusion nexus: assessing the role of ethnic and religious diversity in financial inclusion; a global perspective, Economic Research-Ekonomska Istraživanja, 36:1, 1205-1225, DOI: 10.1080/1331677X.2022.2083648

Diversity-inclusion nexus : assessing the role of ethnic and religious diversity in financial inclusion; a global perspective

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Author: Amin, Saqib1; Yasin, Iftikhar2; Rutkowska-Ziarko, Anna3
Organizations: 1Department of Economics, Oulu Business School, University of Oulu, Oulu, Finland
2Department of Economics, University of Lahore, Lahore, Pakistan
3The Faculty of Economics, University of Warmia and Mazury in Olsztyn, Olsztyn, Poland
Format: article
Version: published version
Access: open
Online Access: PDF Full Text (PDF, 2 MB)
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Language: English
Published: Informa, 2022
Publish Date: 2022-11-22


Diversity and financial inclusion are at the top of boardroom agendas across the financial services industry. An inclusive financial environment ensures equitable access to resources and opportunities for all. Diversity & financial inclusion is crucial for future financial management industry and its success is determined by the ability to create an inclusive culture and diverse societies. Previous studies discussed the diversity-inclusion nexus without assessing the role of ethnic and religious diversity in financial inclusion. This study empirically examines the association between ethnic and religious diversity and financial inclusion by using the dataset of 187-countries across the world. Finding shows that there is a strong positive relationship exist between financial inclusion and ethnic or religious diversity, or both. Furthermore, results are consistent for the high-, middle- and low-income countries. This study suggests that fruitful outcomes of diverse population can only be obtained by ensuring the equitable and peaceful society via cohesion. Future research can be explored these findings and confirm this by country specific implication of ethnic and religious diversity in financial inclusion.

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Series: Ekonomska istraživanja
ISSN: 1331-677X
ISSN-E: 1848-9664
ISSN-L: 1331-677X
Volume: 36
Issue: 1
Pages: 1205 - 1225
DOI: 10.1080/1331677X.2022.2083648
Type of Publication: A1 Journal article – refereed
Field of Science: 511 Economics
512 Business and management
Copyright information: © 2022 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.