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Finance for All? Policies and Pitfalls in Expanding Access

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  • World Bank
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    Abstract

    This book, finance for all, presents first efforts at developing indicators illustrating that financial access is quite limited around the world and identifies barriers that may be preventing small firms and poor households from using financial services. Based on this research, the report derives principles for effective government policy on broadening access. The report's conclusions confirm some traditional views and challenge others. For example, recent research provides additional evidence to support the widely-held belief that financial development promotes growth and illustrates the role of access in this process. Improved access to finance creates an environment conducive to new firm entry, innovation, and growth. However, research also shows that small firms benefit the most from financial development and greater access-both in terms of entry and seeing their growth constraints relaxed. Hence, inclusive financial systems also have consequences for the composition and competition in the enterprise sector. This report reviews and synthesizes a large body of research, and provides the basis for sound policy advice in the area of financial access. The findings in this report also underline the importance of investing in data collection: continued work on measuring and evaluating the impact of access requires detailed micro data both at the household and enterprise level.

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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/6905/417920PAPER0Fi18082137291301PUBLIC1.pdf?sequence=1
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    Bibliographic Info

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    This book is provided by The World Bank in its series World Bank Publications with number 6905 and published in 2008.

    ISBN: 978-0-8213-7291-3
    Handle: RePEc:wbk:wbpubs:6905

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    Postal: 1818 H Street, N.W., Washington, DC 20433
    Phone: (202) 477-1234
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    Web page: https://openknowledge.worldbank.org
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    Related research

    Keywords: Banks and Banking Reform Finance and Financial Sector Development - Debt Markets Private Sector Development - Emerging Markets Finance and Financial Sector Development - Access to Finance;

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    Cited by:
    1. Michael King, 2012. "The Unbanked Four-Fifths: Informality and Barriers to Financial Services in Nigeria," The Institute for International Integration Studies Discussion Paper Series iiisdp411, IIIS.
    2. Michael King, 2012. "Assistant Professor," The Institute for International Integration Studies Discussion Paper Series iiisdp399, IIIS.
    3. Marc BOURREAU & Marianne VERDIER, 2010. "Cooperation for Innovation in Payment Systems: The Case of Mobile Payments," Communications & Strategies, IDATE, Com&Strat dept., vol. 1(79), pages 95-114, 3rd quart.
    4. Penelope Hawkins, 2011. "Financial access: what has the crisis changed?," BIS Papers chapters, in: Bank for International Settlements (ed.), Central banking in Africa: prospects in a changing world, volume 56, pages 11-20 Bank for International Settlements.
    5. Gine, Xavier & Mansuri, Ghazala & Picon, Mario, 2012. "Does a picture paint a thousand words ? evidence from a microcredit marketing experiment," Policy Research Working Paper Series 6020, The World Bank.
    6. Demirguc-Kunt, Asli & Klapper, Leora, 2012. "Financial inclusion in Africa : an overview," Policy Research Working Paper Series 6088, The World Bank.
    7. Thorsten Beck & Samuel Munzele Maimbo & Issa Faye & Thouraya Triki, 2011. "Financing Africa : Through the Crisis and Beyond," World Bank Publications, The World Bank, number 2355, October.
    8. Gine, Xavier & Martinez Cuellar, Cristina & Mazer, Rafael Keenan, 2014. "Financial (dis-)information : evidence from an audit study in Mexico," Policy Research Working Paper Series 6902, The World Bank.
    9. World Bank, 2010. "Scaling-Up SME Access to Financial Services," World Bank Other Operational Studies 12515, The World Bank.
    10. Edmundo Murrugarra & Jennica Larrison & Marcin Sasin, 2011. "Migration and Poverty : Toward Better Opportunities for the Poor," World Bank Publications, The World Bank, number 2535.
    11. Erik Canton & Isabel Grilo & Josefa Monteagudo & Peter Zwan, 2013. "Perceived credit constraints in the European Union," Small Business Economics, Springer, vol. 41(3), pages 701-715, October.
    12. Demirguc-Kunt, Asli & Klapper, Leora, 2012. "Measuring financial inclusion : the Global Findex Database," Policy Research Working Paper Series 6025, The World Bank.
    13. Joao Cadete de Matos & Luis D'Aguiar, 2010. "Measuring the evolution of monetary and financial services in Portugal," IFC Bulletins chapters, in: Bank for International Settlements (ed.), The IFC's contribution to the 57th ISI Session, Durban, August 2009, volume 33, pages 283-295 Bank for International Settlements.
    14. Matteo Vaccani, 2010. "Alternative Remittance Systems and Terrorism Financing : Issues in Risk Management," World Bank Publications, The World Bank, number 5916.
    15. Michael King, 2012. "Is Mobile Banking Breaking the Tyranny of Distance to Bank Infrastructure? Evidence from Kenya," The Institute for International Integration Studies Discussion Paper Series iiisdp412, IIIS.
    16. Therese Wilson, 2012. "Supporting Social Enterprises to Support Vulnerable Consumers: The Example of Community Development Finance Institutions and Financial Exclusion," Journal of Consumer Policy, Springer, vol. 35(2), pages 197-213, June.
    17. Imai, Masami, 2012. "Local economic effects of a government-owned depository institution: Evidence from a natural experiment in Japan," Journal of Financial Intermediation, Elsevier, vol. 21(1), pages 1-22.

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