Shen, Yun, Agyekum, Francis, Reddy, Krishna, and Wallace, Damien (2025) The welfare impact of financial inclusion: a research agenda. Journal of Accounting Literature. (In Press)

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Abstract

Purpose: This paper provides a systematic review of literature pertaining to the welfare impact of financial inclusion. We identify the 50 most influential publications in the field that have evolved into three distinct categories, each of which we critically review to identify the main contributions of this research area.

Design/methodology/approach: By conducting a state-of-the-art literature review, this paper identifies the most influential papers in the research fields on the welfare impact of financial inclusion. One caveat is that as newer publications generally have fewer citations, reviewing prior work can result in a misleading account of emerging trends and research directions. Manual assessment of publications after 2018 facilitates a discussion of important emerging research trends and their directions.

Findings: The three key research streams are identified as financial services and financial accessibility, financial capability, and financial literacy and household welfare. By assessing publications from 2018 to 2023, we also document four key emerging research trends: Fintech and digital financial inclusion, sustainability and climate change, growth, poverty, income inequality, financial stability, and Entrepreneurship. Drawing on these emerging trends, we highlight the opportunities for future research.

Research limitations/implications: Keyword searches have limitations as some papers might be overlooked if they do not match the specific search criteria, despite their relation and significance to the overall topic of the welfare impact of financial inclusion. To address this issue, we have expanded this review by incorporating more literature from other databases, such as the Scopus database which may alleviate this issue.

Practical implications: The three key research streams contribute to a comprehensive understanding of the welfare impact of financial inclusion. The emerging trends integrate existing knowledge and leave the chance for innovative research to expand the research frontier.

Originality/value: This paper fulfils the systematic literature review streams in the welfare impact of financial inclusion and provides fruitful opportunities for future research.

Item ID:	86561
Item Type:	Article (Research - C1)
ISSN:	0737-4607
Copyright Information:	© Emerald Publishing Limited
Date Deposited:	07 Aug 2025 02:33
FoR Codes:	35 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 3502 Banking, finance and investment > 350202 Finance @ 50% 35 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 3502 Banking, finance and investment > 350205 Household finance and financial literacy @ 50%
SEO Codes:	11 COMMERCIAL SERVICES AND TOURISM > 1102 Financial services > 110201 Finance services @ 100%
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