Financial Inclusion and Inclusive Growth: A Review of Recent Empirical Evidence

By Asli Demirgüç-Kunt, L. Klapper, Dorothe Singer. 2017

652 citations recorded by the source corpus.

There is growing evidence that appropriate financial services have substantial benefits for consumers, especially women and poor adults. This paper provides an overview of financial inclusion around the world and reviews the recent empirical evidence on how the use of financial products -- such as payments services, savings accounts, loans, and insurance -- can contribute to inclusive growth and economic development. This paper also discusses some of the challenges to achieving greater financial inclusion and directions for future research.

Subfields: Accounting, Economics and Econometrics, Safety Research

View Paper: https://www.semanticscholar.org/paper/d7ce982286b74816e65fffe1027f5bc2ab5500c4

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Citations in the corpus

Financialization and Economic Development: A Debate on the Social Efficiency of Modern Finance (2018, background): “This is especially relevant for people living in the poorest 40 percent of households’ (Demirgüc-Kunt et al., 2017: 18).”
Towards an economic geography of FinTech (2020, background): “…access and universal inclusion’ in poorer regions of the world (Tsai and Peng, 2017: 110; see also Donner and Telez, 2008; Jack and Suri, 2014, 2016; Demirgüc-Kunt et al., 2017), lead to inclusive growth (e.g. Alampay et al., 2017), or ‘unlock significant economic opportunity and accelerate…”
Fintech, financial inclusion and income inequality: a quantile regression approach (2020, background): “Yet evidence from recent randomised controlled trials (RCTs) on the impact of (micro-)savings 5 , (micro-)insurance and payments services is more consistently positive than those for microcredit (Cull, Ehrbeck, and Holle 2014; Beck 2015; Demirgüç-Kunt, Klapper, and Singer 2017).”
The Role of ICT in Modulating the Effect of Education and Lifelong Learning on Income Inequality and Economic Growth in Africa (2019, background): “Demirguc-Kunt et al. (2017) found evidence that financial depth, which is a concept related but different from financial inclusion, is a factor contributing to shared economic growth and overall development 3 .”
Financial inclusion and bank stability: evidence from Europe (2020, neutral): “Demirguc-Kunt et al. (2017) emphasize the need to improve our understanding of the benefits of financial inclusion and state that customizing financial products and services is essential.”
Financial inclusion research around the world: A review (2020, positive): “In the literature, I commend Demirguc-Kunt et al. (2017)’s review which present an overview of the risks and benefits of financial inclusion in relation to payment services, credit, savings products, and insurance, and the challenges of these products for financial inclusion.”
Digital financial inclusion and economic growth: provincial data analysis of China (2021, background): “Demirguc-Kunt, Klapper, and Singer (2017) argue that financial inclusion is favorable for society.”
Does financial literacy improve financial inclusion? Cross country evidence (2018, neutral): “By contrast, there is less evidence for a link between financial inclusion and economic growth or inequality, but existing evidence points into this direction (Demirguc-Kunt et al., 2017).”
A theory of financial inclusion and income inequality (2020, methodology): “…the income of poor and low-income households is consistently and significantly more positive than that of (micro-) credit (Brune et al. 2011; Dupas and Robinson2013 ; Karlan, Ratan, and Zinman 2014; Banerjee, Karlan, and Zinman 2015; Banerjee et al.2015 ; Demirguc-Kunt, Klapper, and Singer 2017).”