Access to Financial Services

By Thorsten Beck, Asli Demirgüç-Kunt, Patrick Honohan. 2009

429 citations recorded by the source corpus.

In many developing countries less than half the population has access to formal financial services, and in most of Africa less than one in five households has access. Lack of access to finance is often the critical mechanism for generating persistent income inequality, as well as slower economic growth. Hence expanding access remains an important challenge across the world, leaving much for governments to do. However, not all government actions are equally effective and some policies can even be counterproductive. This paper sets out principles for effective government policy on broadening access, drawing on the available evidence and illustrating with examples. The paper concludes with directions for future research.

Subfields: Accounting, Economics and Econometrics, Information Systems

View Paper: https://www.semanticscholar.org/paper/6fb97c1d49d7ad067b946d1697af93d61d20b604

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Citations in the corpus

Financial services provision and prevention of financial exclusion (2007, neutral): “A further 19 per cent were on the margins of financial services, having only one or two products (usually these were a deposit account or a transaction banking account) (Kempson and Whyley, 1999; Meadows, 2000).”
On the Rise of FinTechs – Credit Scoring using Digital Footprints (2020, positive): “…evidence on availability of credit and credit scores (Japelli and Pagano, 1993; Brown, Japelli, and Pagano, 2009; Djankov, McLiesh, and Shleifer, 2009; Beck, Demirguc-Kunt, and Honohan, 2009) • Our paper: Digital footprint help to alleviate credit constraints for unscorables – ~6% of our sample:…”
How do financial globalization, institutions and economic growth impact financial sector development in European countries? (2020, background): “A reduction in cost due to improved operational efficiency is expected to increase profitability (Beck et al. 2009; Ghosh, 2016).”
Financial Inclusion, Financial Literacy and Economically Vulnerable Populations in the Middle East and North Africa (2019, positive): “…of market failures such as discrimination, lack of information, shortcomings in contract enforcement, poor information environment, or price barriers (e.g., Amidžić, Massara, and Mialou 2014; Beck, Demirgüç-Kunt, and Honohan 2009; Demirgüç-Kunt, Beck, and Honohan 2008; The World Bank 2014a).”
Industry 4.0 in Finance: The Impact of Artificial Intelligence (AI) on Digital Financial Inclusion (2020, positive): “One major reason for many vulnerable groups—like women, youths and small businesses-like smallholder farmers—being excluded from the formal ﬁnancial market in the traditional banking sector was driven by issues around risk (Beck et al. 2009).”
Access to Rural Credit Markets in Developing Countries, the Case of Vietnam: A Literature Review (2019, methodology): “In this method, the borrowers are directly asked about their credit demand and their loan applications, as well as exposure of loan rejections [19,24,25].”