Financial inclusion - issues for central banks

Aaron Mehrotra and James Yetman

BIS Quarterly Review, 2015

Abstract: Financial inclusion - access to financial services - is increasing worldwide, often with official support. This special feature discusses the implications for central banks. Greater financial inclusion changes the behaviour of firms and consumers in ways that could influence the effectiveness of monetary policy. The impact on financial stability may depend on how any improvements in financial access are achieved. Risks may rise if greater financial inclusion results from rapid credit growth, or if relatively unregulated parts of the financial system grow quickly.

JEL-codes: E5 G2 O16 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (78)

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