Financial Institution Index, Banking Stability, and Human Development Index Nexus in Emerging Market Countries
Financial Institution Index, Banking Stability, and Human Development Index Nexus in Emerging Market Countries

Summary/Abstract: Development Index (HDI), a key indicator for assessing social and economic progress in emerging markets. The study used annual panel data from the period 2000 to 2021 obtained from the International Monetary Fund and the World Bank. The analysis method used is Fixed Effect Model panel data regression. The results showed that Financial Depth, Access, Efficiency Institution Index, and banking stability have a positive and significant impact on HDI. The government is advised to expand access to financial services, improve financial inclusion programs, and improve financial regulations to increase transparency. This will help meet basic needs such as education and health and strengthen the financial sector. In addition, it is necessary to improve the supervision and management of financial risks as well as the operational efficiency of financial institutions. These efforts are expected to maintain banking sector stability, support MSMEs, and enhance cooperation between the government, financial institutions, and the private sector for inclusive and sustainable human development.

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