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Financial Inclusion: What Have We Learned So Far? What Do We Have to Learn?
Author:
Mr. Adolfo Barajas
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,
Thorsten Becknull

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,
Mohammed Belhajnull

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Samy Ben Naceur
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Series:
IMF Working Papers
Volume/Issue:
Volume 2020: Issue 157
Language:
English
Publication Date:
07 Aug 2020
DOI:
https://doi.org/10.5089/9781513553009.001
ISBN:
9781513553009
ISSN:
1018-5941
Pages:
51
Keywords:
WP; bank account; economic growth; incorporated firm; financial activity; household enterprise; loan officer; Financial Inclusion; Financial Development; Fintech; Economic Growth; Income Inequality; Financial Frictions; financial system; external finance; private sector; comparative advantage; Credit; Mobile banking; Financial sector development; Global; fixed cost; credit market; firm owner; firms' use
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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The past two decades have seen a rapid increase in interest in financial inclusion, both from policymakers and researchers. This paper surveys the main findings from the literature, documenting the trends over time and gaps that have arisen across regions, income levels, and gender, among others. It points out that structural, as well as policy-related, factors, such as encouraging banking competition or channeling government payments through bank accounts, play an important role, and describes the potential macro and microeconomic benefits that can be derived from greater financial inclusion. It argues that policy should aim to identify and reduce frictions holding back financial inclusion, rather than targeting specific levels of inclusion. Finally, it suggests areas for future research.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 2020: Issue 157