Nexus between financial depth and economic growth has been studied for long time and still attracts great attention from policymakers. This research examines the relationship among ASEAN+3 countries from 2000 to 2014 based on Cobb-Douglas theoretical framework. The results show that fi-nancial depths measured by domestic credit to private sector, M3 and stock market capitalisation all have significant effects on economic growth. The paper also gives policy recommendations to promote financial development for purposes of long-term economic growth in ASEAN+3 countries.

Financial inclusion is considered as a critical factor that contributes to the reduction of income imbalance. This paper uses a two-stage least squares (2SLS) model and two different financial inclusion index to examine the impact of financial inclusion on income inequality in 22 transition economies over 11 years from 2005 to 2015. The paper finds that there was a negative relationship between the financial inclusion index and the GINI coefficient. The paper also suggests some policy recommendations to reduce income inequality through developing financial inclusion.