Banking the World: Empirical Foundations of Financial Inclusion

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Robert J. Cull, Aslı Demirgüç-Kunt, Jonathan Morduch
MIT Press, 2013 - Business & Economics - 511 pages
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About 2.5 billion adults, just over half the world's adult population, lack bank accounts. If we are to realize the goal of extending banking and other financial services to this vast "unbanked" population, we need to consider not only such product innovations as microfinance and mobile banking but also issues of data accuracy, impact assessment, risk mitigation, technology adaptation, financial literacy, and local context. In Banking the World, experts take up these topics, reporting on new research that will guide both policy makers and scholars in a broader push to extend financial markets. The contributors consider such topics as the complexity of surveying people about their use of financial services; evidence of the impact of financial services on income; the occasional negative effects of financial services on poor households, including disincentives to work and overindebtedness; and tools for improving access such as nontraditional credit scores, financial incentives for banking, and identification technologies that can dramatically reduce loan default rates.

 

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Contents

Banking the World
1
I Where Are We Now?
17
II Better Data
43
III Creating Impact
135
IV Cautionary Tales
265
V More than Products
391
VI Conclusion
467
Contributors
483
Index
485
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About the author (2013)

Asli Demirgüç-Kunt is Director of Development Policy in the World Bank's Development Economics Vice Presidency and Chief Economist of the Financial and Private Sector Development Network (FPD). She is the coeditor of Financial Structures and Economic Growth: A Cross-Country Comparison of Banks, Markets, and Development (MIT Press, 2001).

Jonathan Morduch is Professor of Public Policy and Economics at New York University's Wagner Graduate School of Public Service. He is the coauthor of "The Economics of Microfinance "(MIT Press) and "Portfolios of the Poor: How the World's Poor Live on $2 a Day".

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