Financial Inclusion : Can it Meet Multiple Macroeconomic Goals?

Financial Inclusion : Can it Meet Multiple Macroeconomic Goals?
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Volume/Issue:
2015/17
Series:
Staff Discussion Notes
Author(s):
Ratna Sahay, Martin Cihak, Papa N'Diaye, Adolfo Barajas, Srobona Mitra, Annette Kyobe, Yen Mooi, and Reza Yousefi
Publisher:
INTERNATIONAL MONETARY FUND
Published Date:
September 2015
DOI:
http://dx.doi.org/10.5089/9781513585154.006
ISBN:
9781513585154
ISSN:
2221-030X
Page:
33
Using several recently available global datasets, this Staff Discussion Note examines macroeconomic effects of financial inclusion. It finds significant benefits to economic growth from financial inclusion, but the benefits diminish as financial inclusion and depth become large. Broadening access to credit can compromise economic and bank stability in countries with weak bank supervision. Other forms of financial inclusion-such as access to and use of bank accounts, branches, and ATMs-do not hurt stability, and can be promoted extensively. The note finds that gaps in financial inclusion are associated with economic inequality, but the association appears relatively weak.
Article

Financial Inclusion

Author(s):
Ratna Sahay, Martin Cihak, Papa N'Diaye, Adolfo Barajas, Srobona Mitra, Annette Kyobe, Yen Mooi, and Reza Yousefi
Published Date:
September 2015
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