Resilience in emergencies, savings, and credit

Saniya Ansar, Jake Hess and Leora Klapper

Chapter 6 in Handbook of Microfinance, Financial Inclusion and Development, 2023, pp 99-118 from Edward Elgar Publishing

Abstract: Financial inclusion allows people to access and use a variety of financial services to save, to borrow and to effectively manage risks. Access to financial services can help build financial resilience by increasing users' ability to smooth consumption during an emergency. For many poor people, their income often barely allows them to get by and any income shock may have severe consequences. COVID-19 has affected both high income and developing economies and made millions of people financially vulnerable. Having a safe place to save money as well as access to appropriate credit during this emergency can help people survive the crisis. Drawing on individual-level survey data, this note analyzes financial resilience and the use of savings and credit among adults. It finds that governments can play an important role in enforcing a sound regulatory framework that makes financial access efficient and cost-effective while upholding customer protections.

Keywords: Development Studies; Economics and Finance (search for similar items in EconPapers)
Date: 2023
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