IDEAS home Printed from https://ideas.repec.org/a/bis/bisqtr/1503h.html
   My bibliography  Save this article

Financial inclusion - issues for central banks

Author

Listed:
  • Aaron Mehrotra
  • James Yetman

Abstract

Financial inclusion - access to financial services - is increasing worldwide, often with official support. This special feature discusses the implications for central banks. Greater financial inclusion changes the behaviour of firms and consumers in ways that could influence the effectiveness of monetary policy. The impact on financial stability may depend on how any improvements in financial access are achieved. Risks may rise if greater financial inclusion results from rapid credit growth, or if relatively unregulated parts of the financial system grow quickly.

Suggested Citation

  • Aaron Mehrotra & James Yetman, 2015. "Financial inclusion - issues for central banks," BIS Quarterly Review, Bank for International Settlements, March.
  • Handle: RePEc:bis:bisqtr:1503h
    as

    Download full text from publisher

    File URL: http://www.bis.org/publ/qtrpdf/r_qt1503h.pdf
    Download Restriction: no

    File URL: http://www.bis.org/publ/qtrpdf/r_qt1503h.htm
    Download Restriction: no

    References listed on IDEAS

    as
    1. Andrea Colciago, 2011. "Rule‐of‐Thumb Consumers Meet Sticky Wages," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43, pages 325-353, March.
    2. Peter J. Morgan & Victor Pontines, 2014. "Financial Stability and Financial Inclusion," Microeconomics Working Papers 24278, East Asian Bureau of Economic Research.
    3. Rosenzweig, Mark R & Wolpin, Kenneth I, 1993. "Credit Market Constraints, Consumption Smoothing, and the Accumulation of Durable Production Assets in Low-Income Countries: Investment in Bullocks in India," Journal of Political Economy, University of Chicago Press, vol. 101(2), pages 223-244, April.
    4. Peter Dittus & Michael Klein, 2011. "On harnessing the potential of financial inclusion," BIS Working Papers 347, Bank for International Settlements.
    5. Bilbiie, Florin O., 2008. "Limited asset markets participation, monetary policy and (inverted) aggregate demand logic," Journal of Economic Theory, Elsevier, vol. 140(1), pages 162-196, May.
    6. Julia Abakaeva & Jasmina Glisovic-Mezieres, 2009. "Are Deposits a Stable Source of Funding for Microfinance Institutions?," World Bank Other Operational Studies 9494, The World Bank.
    7. Seema Jayachandran, 2006. "Selling Labor Low: Wage Responses to Productivity Shocks in Developing Countries," Journal of Political Economy, University of Chicago Press, vol. 114(3), pages 538-575, June.
    8. 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.
    9. Abhijit V. Banerjee & Esther Duflo, 2007. "The Economic Lives of the Poor," Journal of Economic Perspectives, American Economic Association, vol. 21(1), pages 141-168, Winter.
    10. Aaron Mehrotra & James Yetman, 2014. "Financial inclusion and optimal monetary policy," BIS Working Papers 476, Bank for International Settlements.
    11. Duvvuri Subbarao, 2012. "Financial regulation for growth, equity and stability in the post-crisis world," BIS Papers chapters,in: Bank for International Settlements (ed.), Financial sector regulation for growth, equity and stability, volume 62, pages 1-8 Bank for International Settlements.
    12. Xavier Gine & Jessica Goldberg & Dean Yang, 2012. "Credit Market Consequences of Improved Personal Identification: Field Experimental Evidence from Malawi," American Economic Review, American Economic Association, vol. 102(6), pages 2923-2954, October.
    13. Yorulmazer, Tanju, 2014. "Literature review on the stability of funding models," Economic Policy Review, Federal Reserve Bank of New York, issue Feb, pages 3-16.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. repec:src:readsj:v:1:y:2015:i:1:p:21-32 is not listed on IDEAS
    2. repec:taf:oaefxx:v:4:y:2016:i:1:p:1127011 is not listed on IDEAS
    3. Byson Beracah Majanga, 2016. "The Journey to Financial Inclusion in Malawi- What Does the Future Hold?," International Journal of Economics and Financial Research, Academic Research Publishing Group, vol. 2(9), pages 169-175, 09-2016.
    4. Mohammed Ait Lahcen & Pedro Gomis-Porqueras, 2018. "A model of endogenous financial inclusion: implications for inequality and monetary policy," ECON - Working Papers 310, Department of Economics - University of Zurich.
    5. Nurbekyan, Armen & Hovanessian, Naneh, 2018. "Financial Inclusion, Regulation, Financial Literacy, and Financial Education in Armenia," ADBI Working Papers 843, Asian Development Bank Institute.
    6. repec:eee:joecag:v:12:y:2018:i:c:p:96-117 is not listed on IDEAS
    7. repec:seb:journl:v:15:y:2017:i:2:p:209-227 is not listed on IDEAS
    8. Evans, Olaniyi, 2015. "The Effects of Economic and Financial Development on Financial Inclusion in Africa," Review of Economics and Development Studies, CSRC Publishing, Center for Sustainability Research and Consultancy Pakistan, vol. 1(1), pages 21-32, June.
    9. Lucia Poletti & Giulio Tagliavini, 2015. "Welfare, occupazione e finanza sociale," QUADERNI DI ECONOMIA DEL LAVORO, FrancoAngeli Editore, vol. 2015(103), pages 261-283.
    10. Evans, Olaniyi, 2016. "Determinants of Financial Inclusion in Africa: A Dynamic Panel Data Approach," MPRA Paper 81326, University Library of Munich, Germany.
    11. repec:cml:incocp:7en-01 is not listed on IDEAS
    12. Anh The Vo & Loan Thi-Hong Van & Duc Hong Vo & Michael McAleer, "undated". "Financial inclusion and macroeconomic stability in emerging and frontier markets," Documentos de Trabajo del ICAE 2019-01, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico.
    13. repec:eee:jbrese:v:89:y:2018:i:c:p:198-205 is not listed on IDEAS
    14. repec:eee:quaeco:v:66:y:2017:i:c:p:149-158 is not listed on IDEAS
    15. repec:spr:jecfin:v:42:y:2018:i:2:d:10.1007_s12197-017-9422-x is not listed on IDEAS

    More about this item

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • G2 - Financial Economics - - Financial Institutions and Services
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bis:bisqtr:1503h. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christian Beslmeisl). General contact details of provider: http://edirc.repec.org/data/bisssch.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.