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Index of Financial Inclusion – A measure of financial sector inclusiveness

  • Mandira Sarma
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    The promotion of an inclusive financial system is a policy priority in many countries. While the importance of financial inclusion is widely recognized, the literature lacks a comprehensive measure that can be used to measure the extent of financial inclusion across economies. This paper attempts to fill this gap by proposing an index of financial inclusion (IFI). The proposed IFI captures information on various dimensions of financial inclusion in a single number lying between 0 and 1, where 0 denotes complete financial exclusion and 1 indicates complete financial inclusion in an economy. The proposed index is easy to compute and is comparable across countries and over time. It also satisfies some important mathematical properties.

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    File URL: http://finance-and-trade.htw-berlin.de/fileadmin/working_paper_series/wp_07_2012_Sarma_Index-of-Financial-Inclusion.pdf
    File Function: First version, 2012
    Download Restriction: no

    Paper provided by Hochschule fuer Technik und Wirtschaft, Berlin in its series Competence Centre on Money, Trade, Finance and Development with number 1207.

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    Length: 34 pages
    Date of creation: Jul 2012
    Date of revision:
    Publication status: Published in Berlin Working Papers on Money, Finance, Trade and Development, July 2012
    Handle: RePEc:mtf:wpaper:1207
    Contact details of provider: Web page: http://finance-and-trade.htw-berlin.de

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    1. Harald Trabold-Nübler, 1991. "The human development index—A new development indicator?," Intereconomics: Review of European Economic Policy, Springer, vol. 26(5), pages 236-243, September.
    2. Desai, Meghnad, 1991. "Human development : Concepts and measurement," European Economic Review, Elsevier, vol. 35(2-3), pages 350-357, April.
    3. Levine, Ross, 1996. "Financial development and economic growth : views and agenda," Policy Research Working Paper Series 1678, The World Bank.
    4. Beck, Thorsten & Demirguc-Kunt, Asli & Martinez Peria, Maria Soledad, 2007. "Reaching out: Access to and use of banking services across countries," Journal of Financial Economics, Elsevier, vol. 85(1), pages 234-266, July.
    5. Sagar, Ambuj D. & Najam, Adil, 1998. "The human development index: a critical review," Ecological Economics, Elsevier, vol. 25(3), pages 249-264, June.
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