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Which Social Classes Are More Excluded From Financial Services In Italy?

Author

Listed:
  • Angela Coscarelli
  • Domenica Federico
  • Antonella Notte

Abstract

Previous researches have found that large numbers of households lack basic financial products. Specifically, the financial exclusion phenomenon has been the subject of increasing interest. The literature shows there are many families that do not have a current bank, a building society account, a home contents insurance, savings or access to consumer credit facilities. The aim of this study is to outline the financial exclusion of Italian households, highlighting which social classes are more excluded from social and financial services. Data published by the Bank of Italy concerning a survey on Italian household income and wealth in 2008 is utilized. The study uses a multi-disciplinary approach and analyzed using a multivariate statistical analysis. A multiple correspondence analysis is used to define the determinants of the financial exclusion. Next cluster analysis is used to categorize groups of individuals characterized by similar financial, economic and social analyzed variables.

Suggested Citation

  • Angela Coscarelli & Domenica Federico & Antonella Notte, 2011. "Which Social Classes Are More Excluded From Financial Services In Italy?," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 5(3), pages 19-26.
    • Handle: RePEc:ibf:gjbres:v:5:y:2011:i:3:p:19-26
    as

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    References listed on IDEAS

    as
    1. James Devlin, 2005. "A Detailed Study of Financial Exclusion in the UK," Journal of Consumer Policy, Springer, vol. 28(1), pages 75-108, December.
    2. Claessens, Stijn, 2006. "Access to financial services: a review of the issues and public policy objectives," Journal of Financial Transformation, Capco Institute, vol. 17, pages 16-19.
    3. Honohan, Patrick, 2005. "Measuring microfinance access : building on existing cross-country data," Policy Research Working Paper Series 3606, The World Bank.
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    More about this item

    Keywords

    Financial exclusion; Italian families characteristics; Multivariate Statistical Analysis.;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • C80 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - General

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