RETRACTED: Does financial innovation foster financial inclusion in Arab world? examining the nexus between financial innovation, FDI, remittances, trade openness, and gross capital formation
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No Canadian affiliation. An affiliation-only frame — the usual design — would never have seen this work. It is one of the works that make the case for inverting the frame.
Post-publication record
- Nature
- Retraction
- Reason
- Compromised Peer Review;Concerns/Issues about Authorship/Affiliation;Concerns/Issues about Peer Review;Investigation by Journal/Publisher;Objections by Author(s);Unreliable Results and/or Conclusions;
- Date
- 10/23/2025 0:00
- Flagged by OpenAlex?
- Yes
Source: Retraction Watch, joined by DOI. OpenAlex records retraction as is_retracted, a boolean over a state space with at least four values, so it cannot express an expression of concern, a correction or a reinstatement — it reports them as false, which reads as “fine”.
Abstract
The present paper aims to study the impacts of financial innovation on financial inclusion for selected 22 Arab countries from 2004 to 2020. It considers financial inclusion as a dependent variable. It describes ATMs and the number of commercial banks' depositors as proxy variables. In contrast, financial inclusion is considered an independent variable. We used the ratio between broad and narrow money to describe it. We employ several statistical tests such as lm, Pesaran, and shin W-stat, a- tests for cross-section dependence, and unit root and panel granger causality with NARDL and system GMM approaches. The empirical results reveal the significant nexus between these two variables. The outcomes suggest that adaptation and diffusion of financial innovation play catalyst roles in bringing unbanked people into the financial network. In comparison, the inflows of FDI establish mixed positive and negative effects, which vary with model estimation following different econometrical tools. It is also revealed that FDI inflow can augment the financial inclusion process, and trade openness can play a directive role and enhance the financial inclusion process. These findings suggest that financial innovation, trade openness, and institutional quality should continue in the selected countries to enhance financial inclusion and promote capital formation in the selected countries.
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The record
- Venue
- PLoS ONE
- Topic
- Microfinance and Financial Inclusion
- Field
- Economics, Econometrics and Finance
- Canadian institutions
- —
- Funders
- Canadian Institute for Advanced Research
- Keywords
- Financial inclusionEconomicsNexus (standard)FinanceForeign direct investmentOpenness to experiencePanel dataMonetary economicsBusinessMacroeconomicsFinancial servicesEconometrics
- Has abstract in OpenAlex
- yes