Discussing Measures of Financial Inclusion for the Main Euro Area Countries

Achieving the United Nations' sustainable development goals through financial inclusion: A systematic literature review of access to finance across the globe

“…Empirical evidence overwhelmingly shows that having more education and/or being financially literate increases access to credit. Households with better education is found to be associated with greater use of formal finance in China (Fungáčová and Weill, 2015;Chen and Jin, 2017), UK (Deku et al, 2015), India (Karthick and Madheswaran, 2018;Barik and Sharma, 2019), Nigeria (Silong and Gadanakis, 2019), Germany, France, Italy, Spain (Nuzzo and Piermattei, 2019), MENAP 10 region (Shihadeh, 2018), and globally (Klapper and Singer, 2015). They are also found to be receiving more favourable terms when borrowing in P2P platforms and able to access to larger amount of formal credit (Luan, 2019).…”

The relationship between vulnerable financial consumers and banking institutions. A qualitative study in Spain

“…Following Gloukoviezoff (2007, p.217), difficulties of use refers to "the mismatch between the way products are sold to customers or the characteristics of financial services and the needs of people". Therefore, the concept of financial inclusion has been enriched by the notion of sustainable provision and adjustment to individual needs (Nuzzo and Piermattei, 2019). Underbanking, understood as limited use of banking services, is linked to economic precariousness and involves higher fees and costs, thus becoming a potential factor of social exclusion (Fernández-Olit et al 2018).…”

“…People facing financial exclusion (FE) have usually been considered unbanked (excluded) or underbanked (underserved) (Anderloni et al 2008). New FE research schemes extend beyond this initial binary conceptualization of 'inclusion-exclusion' (Coppock, 2013) and are enriched by the notion of sustainable provision and adjustment to individual needs (Nuzzo and Piermattei, 2019). Following Coppock (2013: 496), "ownership of a mainstream banking product does not produce one standard experience of being 'in' the financial system": It is a combination of mainstream financial engagementconditioned by factors such as household income, personal attitudes or banking branch availability -and engagement with alternative financial networks.…”

“…Economic psychology considers the subjective differences in the development of personal financial knowledge and behaviour (Friedline, 2012;Gathergood, 2012;Flores and Vieira, 2014). Some authors have developed FE measurement systems (Sarma, 2012;Nuzzo and Piermattei, 2019) that define different difficulty grades in access to and use of financial services. Finally, financial difficulties are frequently based on geographical determinants (Appleyard, 2011;Aalbers, 2015), and financial ecology approaches analyse the interconnected elements that define the relationship of individuals with finance (Coppock, 2013;Appleyard, 2013;Salignac et al 2016) and highlight the importance of the uncovered financial needs of specific groups such as migrants or rural populations.…”

Overdue Debt as a Poverty Trap

“…Along a similar logic, Sarma (2008 p.3) defined financial inclusion as "a process which ensures the ease of access, availability and usage of the formal financial system for all members of the economy". More recent definitions were based on these concepts as well complimented with further elements such as the indication of addressing financial well-being, economic and social inclusion ( (Nuzzo and Piermattei 2020;de la Cuesta-Gonzáles et al 2021). In our research, we follow the definition of social exclusion along Leyshon-Thrift (1995), Gloukoviezoff (2007) and Sarma (2008), as it captures two important elements from a poverty perspective.…”