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Urban Aboriginal use of fringe financial institutions: Survey evidence from Prince George, British Columbia


  • Bowles, Paul
  • Ajit, D.
  • Dempsey, Keely
  • Shaw, Trevor


This paper analyses the use of fringe financial institutions (FFIs), such as payday loan and check cashing providers, by urban Aboriginal people based on a survey undertaken in Prince George, British Columbia. We found that 60% of FFIs’ clients surveyed self-identified as Aboriginal. Their characteristics, compared to the non-Aboriginal FFI clients, included having lower average incomes, lower levels of education, more likely to be female, a higher incidence of being unemployed, higher levels of financial exclusion, and less satisfaction with the service provided by FFIs. We find that government policy towards regulating the FFI industry is inadequate for meeting the basic financial needs of urban Aboriginal people.

Suggested Citation

  • Bowles, Paul & Ajit, D. & Dempsey, Keely & Shaw, Trevor, 2011. "Urban Aboriginal use of fringe financial institutions: Survey evidence from Prince George, British Columbia," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 40(6), pages 895-902.
  • Handle: RePEc:eee:soceco:v:40:y:2011:i:6:p:895-902
    DOI: 10.1016/j.socec.2011.08.005

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    References listed on IDEAS

    1. Simpson, Wayne & Buckland, Jerry, 2009. "Examining evidence of financial and credit exclusion in Canada from 1999 to 2005," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(6), pages 966-976, December.
    2. Jerry Buckland & Xiao-Yuan Dong, 2008. "Banking on the Margin in Canada," Economic Development Quarterly, , vol. 22(3), pages 252-263, August.
    3. Michael A. Stegman, 2007. "Payday Lending," Journal of Economic Perspectives, American Economic Association, vol. 21(1), pages 169-190, Winter.
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    More about this item


    Payday loans; Fringe banking; Financial exclusion; Urban Aboriginal;

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • J15 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination
    • R23 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population


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