Cover Departmental Papers
Financial Inclusion in Asia-Pacific
Author:
Ms. Elena Loukoianova
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Yongzheng Yanghttps://isni.org/isni/0000000404811396, International Monetary Fund

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Mr. Si Guo
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Ms. Leni Hunter
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Mrs. Sarwat Jahan
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Mr. Fazurin Jamaludin
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Umang Rawathttps://isni.org/isni/0000000404811396, International Monetary Fund

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Johanna Schauerhttps://isni.org/isni/0000000404811396, International Monetary Fund

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Piyaporn Sodsriwiboon
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Mr. Yiqun Wu
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Series:
Departmental Papers
Volume/Issue:
Volume 2018: Issue 017
Language:
English
Publication Date:
18 Sep 2018
DOI:
https://doi.org/10.5089/9781484371015.087
ISBN:
9781484371015
ISSN:
2616-5333
Pages:
139
Keywords:
DPPP; DP; Asia-Pacific country; fiscal policy; interest rate; Asia-Pacific region; central bank; Gini coefficient; per capita income; savings account; a number of Asia-Pacific EMDCs; adverse selection; fintech company; monetary policy shock; Fintech use; Financial inclusion; Fintech; Mobile banking; Income inequality; Pacific Islands; Asia and Pacific; Sub-Saharan Africa; Global
Legal-disclaimer:
The Departmental Paper Series presents research by IMF staff on issues of broad regional or cross-country interest. The views expressed in this paper 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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Asia has made significant progress in financial inclusion, but both its across-country and intra-country disparities are among the highest in the world. The gaps between the rich and the poor, rural and urban populations, and men and women remain deep. Income is the main determinant of the level of financial inclusion; but other factors, such as geography, financial sector structure, and policies, also play important roles. While some countries in the Asia-Pacific region are leaders in fintech, on average the region lags behind others in several important areas such as online (internet) purchases, electronic payments, mobile money, and mobile government transfers. This Departmental Paper aims to take stock of the development and current state of financial inclusion and shed light on policies to advance financial inclusion in the region. The research focuses on the impact of financial inclusion on economic growth, poverty reduction, and inequality, linkages between financial inclusion and macroeconomic policies, as well as structural policies that are important for improving financial inclusion. Given the increasing importance of financial technologies (fintech), the paper also provides a snapshot of the fintech landscape in the Asia-Pacific.
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Cover Departmental Papers
Departmental Papers
ISSN:
2616-5333
Publisher:
International Monetary Fund
Volume 2018: Issue 017