Examining the nexus between governance and financial inclusion in the Nordic-Baltic region: Bank stability as a moderator.

To attain sustainable development, a pertinent question that needs to be answered is whether good governance leads to financial inclusion (FI) and whether bank stability matters. This study examines how financial stability modulates the link between governance and FI in the Nordic-Baltic region between 2004 and 2021. Using a mixed effect model, we observed a positive causal relationship between governance and FI and bank stability modulate this causality.