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Financial Resilience: A Way Forward Towards Economic Development in Developing Countries

Author

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  • Fanny Salignac

    (Kedge BS - Kedge Business School)

  • Julien Hanoteau

    (Kedge BS - Kedge Business School, AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique)

  • Ioana Ramia

    (UNSW - University of New South Wales [Sydney])

Abstract

Financial inclusion is a policy priority in both developed and developing countries. Yet almost one in four people remain financially excluded around the globe, with the vast majority living in the developing world. In this paper, we argue that financial resilience: an individual's ability to function effectively in adverse financial situations, can better help us assist people to cope with financial adversity, develop effective policy and, ultimately, improve economic development. This paper builds on an existing financial resilience measurement framework and adapts it to develop a measure appropriate to the context of developing countries. Indonesia, where one in three people are financially excluded, is used as a case country from which to draw conclusions. We use the Indonesia Family Life Survey and put forward the country's first snapshot of financial resilience. Implications for research and policy are presented.

Suggested Citation

  • Fanny Salignac & Julien Hanoteau & Ioana Ramia, 2022. "Financial Resilience: A Way Forward Towards Economic Development in Developing Countries," Post-Print hal-03659031, HAL.
    • Handle: RePEc:hal:journl:hal-03659031
    DOI: 10.1007/s11205-021-02793-6
    Note: View the original document on HAL open archive server: https://amu.hal.science/hal-03659031
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    Cited by:

    1. Pawan Ashok Kamble & Atul Mehta & Neelam Rani, 2025. "Measuring Multidimensional Financial Resilience: An Ex-ante Approach," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 176(2), pages 533-567, January.
    2. Manh Hung Do, 2023. "The Role of Savings and Income Diversification in Households’ Resilience Strategies: Evidence from Rural Vietnam," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 168(1), pages 353-388, August.
    3. XueHui Zhang & Kun-Shan Wu & Mingwen He, 2023. "Concave-convex effect of financial resilience on corporate financial performance: quantile regression approach," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 10(1), pages 1-14, December.
    4. Mohd Daud, Siti Nurazira & Osman, Zaiton & Samsudin, Shamzaeffa & Phang, Ing Grace, 2024. "Adapting to the gig economy: Determinants of financial resilience among “Giggers”," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 756-771.
    5. Duan, Wenjie & Yu, Xinhang & Wang, Zichuan & Chai, Xue, 2024. "Financial resilience-focused program: A single group pretest–posttest intervention to change financial risk perception among teenagers in an ethnic minority poverty-stricken area in China," Children and Youth Services Review, Elsevier, vol. 164(C).
    6. Peng, Geng & Liu, Fang, 2024. "Digital inclusive finance and the resilience of households involved in financial markets," Finance Research Letters, Elsevier, vol. 69(PB).
    7. Verma, Rahul & Chatterjee, Devlina, 2025. "Relative impact of digital and traditional financial inclusion on financial resilience: Evidence from 13 emerging countries," Journal of Economics and Business, Elsevier, vol. 133(C).
    8. Zewei Liu & Ji-Kang Chen, 2024. "Financial Resilience in China: Conceptual Framework, Risk and Protective Factors, and Empirical Evidence," Journal of Family and Economic Issues, Springer, vol. 45(4), pages 852-875, December.
    9. Manh Hung Do, 2023. "Saving up and diversifying income for a rainy day: Implications for households' resilience strategies and poverty," TVSEP Working Papers wp-033, Leibniz Universitaet Hannover, Institute for Environmental Economics and World Trade, Project TVSEP.
    10. Xu, Dandan & Liu, Yuting, 2024. "How does technological progress affect provincial financial resilience? Evidence at the provincial level in China," Emerging Markets Review, Elsevier, vol. 60(C).

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