By World Bank

ISBN-10: 0821372912

ISBN-13: 9780821372913

ISBN-10: 0821372920

ISBN-13: 9780821372920

Entry to monetary prone varies sharply world wide. in lots of constructing nations lower than part the inhabitants has an account with a bank, and in such a lot of Africa below one in 5 families do. loss of entry to finance is usually the severe mechanism for producing power source of revenue inequality, in addition to slower progress. 'Finance for All?: guidelines and Pitfalls in increasing entry' records the level of monetary exclusion world wide; addresses the significance of entry to monetary prone for progress, fairness and poverty relief; and discusses coverage interventions and institutional reforms that could increase entry for underserved teams. The document is a extensive ranging evaluation of the paintings already accomplished or in development, drawing on examine using information on the state, company and loved ones point. provided that monetary structures in lots of constructing international locations serve just a small a part of the inhabitants, increasing entry is still a major problem internationally, leaving a lot for governments to do. notwithstanding, no longer all govt activities are both powerful and a few rules will be counterproductive. The document units out rules for potent executive coverage on broadening entry, drawing at the to be had proof and illustrating with examples.

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Example text

Researchers have therefore used a variety of different data sources and methodologies to infer the actual share of households or enterprises that use financial services. Many of these data collection efforts are recent, and researchers have just started to relate them to real sector outcomes. As more data become available and more systematic data collection efforts get under way, one can expect more and better analysis. Financial inclusion, or broad access to financial services, is defined here as an absence of price or nonprice barriers in the use of financial services.

Hence, if demand for toothpaste exceeds the supply for it, the price of toothpaste will rise until demand and supply are equated at the new equilibrium price. If this price is too high for some, they will not use toothpaste. But all who are willing to pay the price will be able to use it. So if prices do their job, there should be no access problem. a They show that information problems can lead to credit rationing even in equilibrium. That is because banks making loans are concerned not only about the interest rate they charge on the loan but also about the riskiness of the loan.

As financial institutions are likely to be located in rich neighborhoods, physical distance may also matter—banks simply may not be near the poor. Even if financial service providers are nearby, some poor clients may encounter prejudice—being refused admission to banking offices, for example. The poor face two significant problems in obtaining access to credit services. First, they typically have no collateral and cannot borrow against their future income because they tend not to have steady jobs or income streams that creditors can track.

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Finance for All?: Policies and Pitfalls in Expanding Access (Policy Research Reports) by World Bank


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