<![CDATA[Using annual data covering the years 2010 to 2023, this study examines how access to and utilization of formal financial services influence Indonesia’s economic growth. To capture the level of financial inclusion, several proxies are employed, such as the expansion of ATM facilities, banking outlets, ownership of savings and deposit accounts, credit participation, current accounts, insurance accounts, and the presence of branchless banking agents. Data obtained from the Central Bureau of Statistics (BPS) are processed through a time-series regression model based on the OLS method. The estimation results demonstrate that the selected indicators of financial inclusion exert a statistically significant influence on economic growth when assessed simultaneously, with the model accounting for approximately 97.3% of the observed variation in economic growth. Partially, credit accounts and financial insurance have a positive effect on economic growth, while ATMs, bank branches, time deposit accounts, and bank agents have a negative effect. Meanwhile, savings accounts and demand deposit accounts do not have a significant effect on economic growth. These findings indicate that not all aspects of financial inclusion effectively promote economic growth. Financial inclusion will be more optimal when focused on productive financial services, such as credit distribution and risk protection through insurance. Therefore, policies are needed to enhance financial literacy and develop digital-based financial services in order to maximize the contribution of financial inclusion to economic growth.]]>
