A STUDY ON RECENT ADVANCES IN ACCOUNTING AND FINANCE

Abstract

The policy discussion has been turning away from the nexus between finance and growth and toward the link between finance and inequality. During the transition from the Millennium Development Goals (MDGs) to the Sustainable Development Goals (SDGs), there has been an urgent policy problem of putting some structure on recent advancements in financing for increased inclusivity. This difficulty has been referred to as the "inclusion challenge." The overarching question that will be addressed in this article is as follows: to what extent has the growth of the financial sector contributed to the provision of opportunities for the growth of human development for those who are classified as having a low income, and by what mechanisms has this occurred? We do a literature review on newly published articles in order to give information on current developments in finance for inclusive development. The first step in the analytical process is to place concerns about exclusive growth within the broader framework of the relevant literature, and then the next step is to examine current growth plans for financial inclusion. In order to take into consideration, the variety in the advantages of financial growth, developed and developing nations are engaging in some currents independently of one another. The retained financial innovations are organised according to three topics, the most prominent of which are the rural-urban gap, the empowerment of women, and human capital in terms of skills and training. The articulation of the financial instruments includes case studies, innovations, and investment strategies. Particular emphasis is placed, among other things, on: informal finance; microfinance; mobile banking; crowdfunding; finance; remittances; and the Diaspora Investment in Agriculture (DIA) initiative.

Keywords: Accounting, Finance, Inclusive Growth, Economic Development.