Financial inclusion research around the world: a review

Peterson Ozili

MPRA Paper from University Library of Munich, Germany

Abstract: This paper provides a comprehensive review of the recent evidence on financial inclusion from all regions of the World. It identifies the emerging themes in the financial inclusion literature as well as some controversy in policy circles regarding financial inclusion. In particular, I draw attention to some issues such as optimal financial inclusion, extreme financial inclusion, how financial inclusion can transmit systemic risk to the formal financial sector, and whether financial inclusion and exclusion are pro-cyclical with changes in the economic cycle. The key findings in this review indicate that financial inclusion affects, and is influenced by, the level of financial innovation, poverty levels, the stability of the financial sector, the state of the economy, financial literacy, and regulatory frameworks which differ across countries. Finally, the issues discussed in this paper opens up several avenues for future research

Keywords: financial inclusion; financial technology; digital finance; poverty reduction; financial stability; financial institutions; economic cycle; systemic risk; controversy; Fintech. (search for similar items in EconPapers)
JEL-codes: O12 O16 O17 O19 R2 (search for similar items in EconPapers)
Date: 2020
New Economics Papers: this item is included in nep-fdg, nep-fle and nep-pay
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (31)

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Journal Article: Financial inclusion research around the world: A review (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:101809

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