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Financial Exclusion in the UK

In: Financial Exclusion

Author

Listed:
  • Santiago Carbó
  • Edward P. M. Gardener
  • Philip Molyneux

Abstract

This chapter examines in greater detail modern UK experiences with financial exclusion. The UK has one of the most successful financial services industries in the world. A great deal of this is centred around the City of London, which inter alia houses more foreign banks than any other centre; has the largest foreign exchange market in the world; and is the largest market for over-the-counter derivatives. In this highly developed and innovative market environment, however, financial exclusion has become an increasing problem and a major policy issue for government and the private sector. Although there has generally been a steady increase in the use of most kinds of financial services in the UK during recent years, a minority of people have apparently become excluded (and in some cases more excluded) from financial services. The present chapter covers the following areas: the notion of excluded groups; barriers and consequences of financial exclusion; and initiatives that have been developed to tackle financial exclusion.

Suggested Citation

  • Santiago Carbó & Edward P. M. Gardener & Philip Molyneux, 2005. "Financial Exclusion in the UK," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Financial Exclusion, chapter 0, pages 14-44, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-0-230-50874-3_3
    DOI: 10.1057/9780230508743_3
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    Cited by:

    1. Agyekum, Francis K. & Reddy, Krishna & Wallace, Damien & Wellalage, Nirosha H., 2022. "Does technological inclusion promote financial inclusion among SMEs? Evidence from South-East Asian (SEA) countries," Global Finance Journal, Elsevier, vol. 53(C).
    2. García-Pérez-de-Lema, Domingo & Ruiz-Palomo, Daniel & Diéguez-Soto, Julio, 2021. "Analysing the roles of CEO's financial literacy and financial constraints on Spanish SMEs technological innovation," Technology in Society, Elsevier, vol. 64(C).
    3. Bruder, Jana & Neuberger, Doris & Räthke-Döppner, Solvig, 2008. "Financial constraints of ethnic entrepreneurship: Evidence from Germany," Thuenen-Series of Applied Economic Theory 84, University of Rostock, Institute of Economics.
    4. Begoña Gutiérrez-Nieto & Carlos Serrano-Cinca & Beatriz Cuéllar-Fernández & Yolanda Fuertes-Callén, 2017. "The Poverty Penalty and Microcredit," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 133(2), pages 455-475, September.

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