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Banking on the Margin in Canada

Author

Listed:
  • Jerry Buckland

    (Menno Simons College, Winnipeg, Manitoba, Canada, j.buckland@ uwinnipeg.ca)

  • Xiao-Yuan Dong

    (University of Winnipeg, Manitoba, Canada)

Abstract

This article analyzes the socioeconomic characteristics of the financially excluded in Canada using the 1999 Statistics Canada Survey of Financial Security and two surveys sponsored by the Financial Consumer Agency of Canada in 2001 and 2005. The authors find that financial exclusion is more concentrated among low-income Canadians; low-income, low-level of assets, and single-parent statuses are correlated with being unbanked. A review of banking preferences of low-income people indicates that economically disadvantaged households are more concerned about convenience and not as interested in new banking technologies.

Suggested Citation

  • Jerry Buckland & Xiao-Yuan Dong, 2008. "Banking on the Margin in Canada," Economic Development Quarterly, , vol. 22(3), pages 252-263, August.
    • Handle: RePEc:sae:ecdequ:v:22:y:2008:i:3:p:252-263
    DOI: 10.1177/0891242408318738
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    References listed on IDEAS

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    1. James Devlin, 2005. "A Detailed Study of Financial Exclusion in the UK," Journal of Consumer Policy, Springer, vol. 28(1), pages 75-108, December.
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    Cited by:

    1. 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.
    2. 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.
    3. Jae Min Lee & Narang Park & Wookjae Heo, 2019. "Importance of Subjective Financial Knowledge and Perceived Credit Score in Payday Loan Use," IJFS, MDPI, vol. 7(3), pages 1-21, September.

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