This study examines the impact of financial inclusiveness on economic growth using a sample of 60 countries from 2010 to 2017. A new Index of Financial Inclusion (IFI) has been constructed for each country to determine their level of financial inclusiveness across time. The main findings using a dynamic panel threshold estimation technique revealed a threshold effect in the financial inclusiveness-growth nexus. We find that the level of financial inclusiveness is beneficial and positively affects economic growth at lower or upper threshold levels in a different regime. Furthermore, the threshold impact of financial inclusion is positive and has a more significant growth-enhancing effect among less developed and emerging market countries relative to developed ones. Thus, policymakers in less developed and emerging market countries need to prioritize their efforts to raise the level of financial inclusiveness in place of its greater growth-enhancing effect in these countries.

本研究使用 2010 年至 2017 年的 60 个国家的样本，检验了金融包容性对经济增长的影响。为每个国家构建了一个新的金融包容性指数 (IFI)，以确定其不同时期的金融包容性水平。使用动态面板阈值估计技术的主要发现揭示了金融包容性-增长关系中的阈值效应。我们发现，金融包容性水平是有益的，并在不同制度下对较低或较高阈值水平的经济增长产生积极影响。此外，普惠金融的门槛影响是积极的，相对于发达国家，对欠发达和新兴市场国家的增长促进作用更为显着。因此，