Geographies of Financial Exclusion: Financial Abandonment in Britain and the United States

Leyshon, Andrew; Thrift, Nigel

doi:10.2307/622654

Cited by 464 publications

(282 citation statements)

References 12 publications

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“…Many studies define the concept in terms of financial exclusion, which relates to the broader context of social inclusion. For example, Leyshon (1995) highlights the exclusion of some groups and individuals from gaining access to formal financial system, while Sinclair (2001) focuses on the inability to access necessary financial services in an appropriate form. In contrast, Amidžić, Massara, and Mialou (2014) and Sarma (2008) directly define financial inclusion.…”

Section: Related Literaturementioning

confidence: 99%

Financial Inclusion, Poverty, and Income Inequality in Developing Asia

2015

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Poverty and income inequality remain a stubborn challenge in Asia and the Pacific despite the region's rapid economic expansion in previous decades, which lifted millions out of poverty. Financial inclusion is often considered as a critical element that makes growth inclusive as access to finance can enable economic agents to make longer-term consumption and investment decisions, participate in productive activities, and cope with unexpected short-term shocks. Understanding the link between financial inclusion, poverty, and income inequality at the country level will help policymakers design and implement programs that will broaden access to financial services, leading to reduction of poverty incidence and income equality. This paper extends the existing literature on financial inclusion by focusing on developing Asian economies. We construct our own financial inclusion indicator to assess various macroeconomic and country-specific factors affecting the degree of financial inclusion for 37 selected developing Asian economies. We also test the impact of financial inclusion, along with other control variables, on poverty and income inequality. Our results show that per capita income, rule of law, and demographic characteristics significantly affect financial inclusion in developing Asia. Furthermore, we find that financial inclusion significantly reduces poverty; and there is also evidence that it lowers income inequality. Our findings suggest that the provisions for young and old-age populations, e.g., retirement pensions; and stronger rule of law, including enforcement of financial contracts and financial regulatory oversight, will broaden financial inclusion, thereby contributing to poverty reduction and lower income inequality. The views expressed in this paper are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent.ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use.By making any designation of or reference to a particular territory or geographic area, or by using the term "country" in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area. Note: In this publication, "$" refers to US dollars.The ADB Economics Working Paper Series is a forum for stimulating discussion and eliciting feedback on ongoing and recently completed research and policy studies undertaken by the Asian Development Bank (ADB) staff, consultants, or resource persons. The series deals with key economic and development problems, particularly those facing the Asia and Pacific region; as well as conceptual, analytical, or methodological issues relating to project/program economic analysis, and statistical data and measurement. The series aims to enhance the knowledge on Asia's development and policy challenges; strengthen analytical rigor and quality of ADB's country partner...

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Section: Related Literaturementioning

confidence: 99%

Financial Inclusion, Poverty, and Income Inequality in Developing Asia

2015

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“…Exclusión financiera, pobreza y vulnerabilidad El término exclusión financiera surgió por primera vez en 1993, de manos de geógrafos preocupados por el acceso físico limitado a los servicios bancarios por el cierre de sucursales bancarias en Estados Unidos y Gran Bretaña (Leyshon & Thrift, 1995). Una definición actualizada del término la aporta la Comisión Europea (2008, p. 10) cuando señala que "la exclusión financiera se refiere a un proceso mediante el cual las personas se encuentran con dificultades en el acceso y/o uso de los servicios y productos financieros en el mercado general que sean apropiadas a sus necesidades y que les permita llevar una vida social normal en la sociedad en la que pertenecen".…”

Section: Introductionunclassified

Inclusión financiera en el ámbito rural mediante cajas de ahorro. Estudio de una experiencia en México

Pleite

Soriano

Eid

et al. 2016

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Los niveles de pobreza de un importante porcentaje de la población de muchos países en desarrollo se acompañan, con frecuencia, de la falta de acceso a productos de ahorro, pago, crédito o seguro, lo que determina una exclusión financiera. Aquí se presenta el proyecto de cajas de ahorro auspiciado por la Fundación León XIII en México. Tras describirse esta experiencia informal de fomento del ahorro, se presentan los datos de una encuesta realizada entre 218 beneficiarios del proyecto. Su análisis bivariante y multivariante, además de cuantificar las condiciones de vida de sus beneficiarios, proporciona valiosa información acerca de la capacidad de ahorro que la población logra a través de esta iniciativa, segmentando a sus beneficiarios por sus características y esfuerzo ahorrador.

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“…Financial exclusion could be defined as the prevailing conditions that prevent certain segments (social groups and/or individuals) of a society from gaining access to appropriate, affordable, fair and safe financial products and services provided by mainstream providers. As noted by Leyshon and Thrift [20], Mohan [24] and Ramji [26], the inability to access necessary financial services in an appropriate form may arise from self-exclusion or direct consequence by either the financial service providers (FSPs) or the government. Thus, financial exclusion has both demand and supply dimensions, the consequences of which include loss of opportunities for growth, loss of opportunities to thrive and borrow, risk of theft of finances which are kept outside the financial system, and increase in cash transactions with its attendant consequences also.…”

Section: Financial Inclusionmentioning

confidence: 99%

Promoting financial inclusion for effective anti-money laundering and counter financing of terrorism (AML/CFT)

Shehu¹

2012

Crime Law Soc Change

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"Financial inclusion" is the delivery of financial services at affordable costs, especially to the disadvantaged and low income populations. Financial inclusion has gained some importance in the last few decades as a result of findings on the impact of "financial exclusion" on development and especially its correlation to poverty.This paper arguesthat access to financial services contributes to human and economic development; and that financial inclusion and effective AML/CFT are complementary to ensure the safety, integrity and soundness of the financial system and the protection of depositors. It calls for the recognition of country specific characteristics of the derived segments of the society, the risks and national priorities in the application of AML/CFT measures, as well as how financial inclusion has been applied with flexible AML/CFT principles. It concludes that inclusive finance does not necessarily mean that everyone who is eligible uses each of the services, but they should be able to choose to use such services if they wish.

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Geographies of Financial Exclusion: Financial Abandonment in Britain and the United States

Cited by 464 publications

References 12 publications

Financial Inclusion, Poverty, and Income Inequality in Developing Asia

Financial Inclusion, Poverty, and Income Inequality in Developing Asia

Inclusión financiera en el ámbito rural mediante cajas de ahorro. Estudio de una experiencia en México

Promoting financial inclusion for effective anti-money laundering and counter financing of terrorism (AML/CFT)

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