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Call for Papers: Special Issue on Financial Innovations and Financial Inclusion in the 21st Century

Guest Editors

Muhammad Shahbaz
Beijing Institute of Technology, China
Department of Land Economy
University of Cambridge, UK.

Yong Wang
School of Statistics,
Dongbei University of Finance and Economics, China

Nicholas Apergis
Department of Banking and Financial Management 
University of Piraeus, Greece.

Shawkat Hammoudeh
Professor in Economics
LeBow College of Business,
Drexel University, United Sates


Financial inclusion is the requirement of financial governance and the connotation of financial sustainability. Since the international financial crisis, there has been a growing call to promote the development of financial inclusion. Financial inclusion has become a significant development challenge and a hotly debated topic among policymakers, development practitioners and the private sector. Inclusive finance plays a positive role in promoting financial reform(s) and development, maintaining the financial system’s stability, eliminating poverty and protecting financial consumers. At the same time, financial innovation is the source of financial vitality and the extension of financial ability. In the process of economic recovery from the impact of pandemic, finance and its innovation play a fundamental and guiding role in supporting a country’s economy to take the lead among the world’s major economies in recovering from the gloom. Of course, rapid technological change and innovation, especially the proliferation of mobile phones, continue to drive financial penetration and inclusion. Financial technology companies are rapidly disrupting the financial landscape, making it easier to scale up financial services. Innovation and “mobility” in financial services have emerged as crucial factors. Brazil’s approach is somewhat representative in the international practice of inclusive financial development. Brazil attaches great importance to financial innovation in promoting the development of inclusive finance. In addition, while driving financial inclusion, financial innovation poses new challenges: Promoting innovation-led financial inclusion is subject to far too frequent regulation. So is financial innovation a blessing or a curse for financial inclusion? In the digital era of the 21st century, most countries are implementing monetary policies of quantitative easing or even unlimited easing to cope with the impact of the COVID-19 pandemic and downward economic pressure. In order to further enhance the modernization level and international competitiveness of the financial industry, it is crucial to study financial innovation, financial inclusion and how financial innovation drives the development of financial inclusion.

However, our knowledge of the strategic risks posed by financial inclusion, financial innovation, and the relationship between them in the 21st century is limited, which limits our ability to develop optimal policies. Therefore, we need data and evidence on the positive and negative effects of financial innovation on financial inclusion. Considering that “Financial Innovation” is an essential platform for in-depth financial innovation and financial inclusion and helps to explore issues related to financial innovation and financial inclusion from the perspective of the digital age, it is the most appropriate venue for this study. Contributions to the topic are expected to produce groundbreaking findings in the field of financial innovation and financial inclusion, which will have a profound impact on a wide range of stakeholders including policymakers, the public and society.

Objectives and Scope

The objectives of this special issue include the issues of financial inclusion and financial innovation in the digital age of the 21st century and the solutions available to policymakers in addressing the challenges posed by financial innovation to financial inclusion. This special issue aims to bridge the knowledge gap between financial inclusion and financial innovation in the 21st century digital age by collecting high-quality research papers from a global perspective.

Possible contributors:

  • Researchers and academics with expertise and interest in finance and its innovation and inclusion
  • Scholars and research departments focusing on financial innovation and financial inclusion
  • Researchers and scholars interested in financial sustainability and green financial development
  • Researchers and scholars interested in international policy
  • Researchers and scholars interested in financial governance and regulation
  • Special interest groups and non-governmental organizations concerned with ways to respond to changes in the international financial environment
  • Research departments focusing on the development and achievement of financial governance objectives
  • Stakeholders interested in social, economic and financial issues
  • Researchers working in think tanks and organizations on strategic policy making

This SI topics include, but are not limited to:

  • Financial innovation and financial inclusion in the 21st century digital age 
  • Financial inclusion under the financial crisis 
  • Sustainable development of finance under financial crisis 
  • How will the digital age change financial inclusion 
  • Financial innovation in the digital age ways to increase financial inclusion 
  • New risks and challenges associated with financial inclusion in a digital world 
  • Impact of inclusiveness of financial innovation on the development of supply chain finance 
  • Impact of COVID-19 on financial inclusion 
  • Impact of COVID-19 on financial innovation 
  • Impact of increasing financial inclusion on sustainable economic recovery since the onset of COVID-19 
  • Policy implications for financial inclusion development 
  • Impact of policy on the development of financial innovation 
  • The role of Internet finance innovation for financial inclusion 
  • Positive and negative impacts of Internet finance innovation on financial inclusion 
  • Role of globalization in financial inclusion
  • Financial innovation and financial inclusion: differences in effects under financial regulation 
  • Digital economy, financial inclusion and inclusive growth 
  • To promote financial inclusion and sustainable development of the world
  • Role of globalization in financial innovation
  • Globalization, financial innovation and financial inclusion

Process for reviewing papers:

The selected high-quality research paper will be submitted and will be considered for publication in “Financial Innovation” After the initial screening by the guest editors, the submissions will go through a rigorous double-blind review process. On the compilations of referee reports, the editors will make the final decision. The submissions which are found to be internationally excellent in terms of originality, significance and rigor will be considered for publication.


Submission Deadline: 01 January, 2024
Acceptance Deadline: 31 June, 2024

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Annual Journal Metrics

  • 2022 Citation Impact
    8.4 - 2-year Impact Factor
    7.3 - 5-year Impact Factor
    2.244 - SNIP (Source Normalized Impact per Paper)
    1.171 - SJR (SCImago Journal Rank)

    2023 Speed
    34 days submission to first editorial decision for all manuscripts (Median)
    273 days submission to accept (Median)

    2023 Usage 
    425 Altmetric mentions 

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  • Research Papers in Economics(RePEc)