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Institutionalist Policies for Financial Inclusion

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  • Deborah Figart

Abstract

Using an institutionalist reading of the capability approach, I advocate policies for enhancing financial capabilities via financial inclusion. There are 34 million unbanked and underbanked households in the USA (with 68 million adults), many of whom rely on alternative financial services providers (AFSPs). Rather than castigate AFSPs for the predatory practices of some in the industry, this paper argues that a regulated industry can be integral to meeting needs of lower-to-moderate income communities. A typology of existing financial services in the USA is the basis for presenting these proposals. The policies I evaluate concern the economy's structures and institutions rather than focusing on an individual's or a household's financial literacy.

Suggested Citation

  • Deborah Figart, 2013. "Institutionalist Policies for Financial Inclusion," Journal of Economic Issues, Taylor & Francis Journals, vol. 47(4), pages 873-894.
    • Handle: RePEc:mes:jeciss:v:47:y:2013:i:4:p:873-894
    DOI: 10.2753/JEI0021-3624470404
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    Cited by:

    1. Bao Zhu & Shiting Zhai & Jing He, 2018. "Is the Development of China’s Financial Inclusion Sustainable? Evidence from a Perspective of Balance," Sustainability, MDPI, vol. 10(4), pages 1-16, April.
    2. Fu, Jonathan, 2020. "Ability or opportunity to act: What shapes financial well-being?," World Development, Elsevier, vol. 128(C).
    3. Zhang, Lifeng & Chao, Xiangrui & Qian, Qian & Jing, Fuying, 2022. "Credit evaluation solutions for social groups with poor services in financial inclusion: A technical forecasting method," Technological Forecasting and Social Change, Elsevier, vol. 183(C).

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