View full metadata record

dc.titleFinancial Inclusion in Latin America: Facts, Obstacles and Central Banks' Policy Issues
dc.contributor.authorRojas-Suárez, Liliana
dc.contributor.orgunitDepartment of Research and Chief Economist
dc.coverageLatin America
dc.date.available2016-06-29T00:00:00
dc.date.issue2016-06-28T00:00:00
dc.description.abstractThis paper shows that, in spite of recent progress in the usage of alternative financial services by adult populations, Latin America's financial inclusion gaps relative to either high-income countries or the region's comparators (countries with a similar degree of development) have not reduced generally and, in some cases, have even increased during the period 2011-2014. An econometric investigation of potential country-level obstacles explaining these gaps finds that institutional weaknesses play the most salient role through direct and indirect effects. Lack of enforcement of the rule of law directly reduces depositors' incentives to entrust their funds to formal financial institutions. Indirectly, low institutional quality reinforces the adverse effects of insufficient bank competition on financial inclusion.
dc.format.extent46
dc.identifier.doihttp://dx.doi.org/10.18235/0007016
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/Financial-Inclusion-in-Latin-America-Facts-Obstacles-and-Central-Banks-Policy-Issues.pdf
dc.language.isoen
dc.mediumAdobe PDF
dc.publisherInter-American Development Bank
dc.subjectFinancial Inclusion
dc.subjectFinancial Service
dc.subjectFinancial System
dc.subjectInterest Rate
dc.subjectCentral Bank Money
dc.subjectAccess to Finance
dc.subjectIncome Equality
dc.subject.jelcodeG21 - Banks • Depository Institutions • Micro Finance Institutions • Mortgages
dc.subject.jelcodeG28 - Government Policy and Regulation
dc.subject.keywordsmobile money;Latin America;central banks;financial inclusion;financial regulation
idb.identifier.pubnumberDiscussion Papers
idb.operationTC-2426
Return to Publication