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Financial Inclusion, Financial Literacy, and Financial Education in Georgia


  • Babych, Yaroslava

    (Asian Development Bank Institute)

  • Grigolia, Maya

    (Asian Development Bank Institute)

  • Keshelava, Davit

    (Asian Development Bank Institute)


We provide a comprehensive overview of the current state of financial inclusion and financial literacy in Georgia based on the latest literature, statistical evidence, and recent surveys. We review current government policy initiatives and strategy documents aimed at improving financial access of SMEs and households; analyze the state of the regulatory framework in Georgia; focus on the causes behind the current low levels of financial inclusion and financial literacy among the young, the poor, and the rural population; and provide policy recommendations to comprehensively address the financial inclusion problem in Georgia.

Suggested Citation

  • Babych, Yaroslava & Grigolia, Maya & Keshelava, Davit, 2018. "Financial Inclusion, Financial Literacy, and Financial Education in Georgia," ADBI Working Papers 849, Asian Development Bank Institute.
  • Handle: RePEc:ris:adbiwp:0849

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    References listed on IDEAS

    1. Francesca Carapella & Giorgio Di Giorgio, 2004. "Deposit Insurance, Institutions, and Bank Interest Rates," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 11(3), pages 77-92, December.
    2. Yoshino, Naoyuki & Morgan, Peter J., 2016. "Overview of Financial Inclusion, Regulation, and Education," ADBI Working Papers 591, Asian Development Bank Institute.
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    Cited by:

    1. Razak M Gyasi & Siaw Frimpong & Gilbert Kwabena Amoako & Anokye M Adam, 2021. "Financial inclusion and physical health functioning among aging adults in the sub-Saharan African context: Exploring social networks and gender roles," PLOS ONE, Public Library of Science, vol. 16(6), pages 1-15, June.
    2. Archillies Kiwanuka & Athenia Bongani Sibindi, 2023. "Insurance Literacy: Significance of Its Dimensions for Insurance Inclusion in Uganda," Economies, MDPI, vol. 11(2), pages 1-17, January.
    3. Tomasz Szopiński, 2019. "Who is Unbanked? Evidence from Poland," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 13(4), December.

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    More about this item


    economic development; financial stability; financial literacy; financial inclusion; financial education;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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