Preferencje help
Widoczny [Schowaj] Abstrakt
Liczba wyników
2016 | nr 2(6) | 68--89
Tytuł artykułu

Financial Inclusion, Growth and Inequality: A Model Application to Colombia

Treść / Zawartość
Warianty tytułu
Języki publikacji
Financial inclusion has been one of the key pillars of Colombia's development strategy for a number of years. Financial inclusion policies have aimed at channeling microcredit to poor, spreading formal banking system usage, fostering electronic payment acceptance, and making financial services more affordable. Using simulations from a general equilibrium model it is possible to identify the most binding financial sector frictions that preclude financial inclusion of enterprises, and study the effects on growth and inequality of efforts to remove these frictions. The study finds that lowering contraints on collateral promises higher growth while inequality is better tackled through measures that lower the financial participation cost. (original abstract)
Opis fizyczny
  • International Monetary Fund
  • Aiyagari, M., Demirguc-Kunt, A., Maksimovic, V. (2008), How well do institutional theories explain firms' Perceptions of Property Rights?, Review of Financial Studies, No. 21 (4), pp. 1833-1871.
  • Aiyagari, M., Demirguc-Kunt, A., Maksimovic, V. (2010), Formal versus informal finance: evidence from China, Review of Financial Studies, Society for Financial Studies, vol. 23(8), pp. 3048-3097.
  • Asobancaria, Informe Semestral de Inclusion Financiera, June 2013.
  • Bebczuk, R.N. (2008), Financial inclusion in Latin America and the Caribbean: Review and Lessons, Centro de Estudios Distributivos, Laborales y Social.
  • Beck, T., Demirguc-Kunt, A., Levine, R. (2007), Finance, inequality and the poor, Journal of Economic Growth, No. 12 (1), pp. 27-49.
  • Beck, T., Demirguc-Kunt, A., Maksimovic, V. (2005), Financial and legal constraints to growth: does firm size matter? Journal of Finance, No. 60 (1), pp. 137-177.
  • Blaum, J. (2013), Wealth inequality and the losses from financial frictions, Mimeo.
  • Bruhn, M., Love, I. (2009), The economic impact of banking the unbanked-evidence from Mexico, WB Policy Research Working Paper No. 4981 (Washington: World Bank).
  • Camara, N., Tuesta, D. (2014), Measuring financial inclusion: a multidimensional index, BBVA Working Paper(14/26), BBVA Research.
  • Clarke, G. R. G., Xu, L. C, Fu Zou, H (2006), Finance and income inequality: what do the data tell us?, Southern Economic Journal, No. 72 (3), 578-596.
  • IMF (2013), Colombia: Staff Report for the 2013 Article IV Consultation, International Monetary Fund
  • Doing Business (2013), (Washington: The World Bank.
  • Dabla-Norris, E., Ji, Y., Townsend, R., Unsal, F. (2014), Distinguishing constraints on financial inclusion and their impact on GDP, TFP and inequality, NBER Working Paper, No. 20821, (Cambridge, MA: National Bureau of Economic Research).
  • Dabla-Norris, E., Deng, Y., Ivanova, A., Karpowicz, I., Unsal, F., VanLeemput, E., Wong, J. (2015), Financial inclusion: zooming in on Latin America, IMF Working Paper 15/206, International Monetary Fund.
  • Demirguc-Kunt, A., Klapper, L. (2012), Measuring financial inclusion: The global Findex database, World Bank Policy Research Paper6025 (Washington: World Bank).
  • Demirguc-Kunt, A., Klapper, L., Singer, D., Van Oudheusden, P. (2014), The global Findex database 2014, Policy Research Working Paper 7255, The World Bank.
  • IMF, (2012), Financial Stability Report, International Monetary Fund.
  • Global Financial Development Report (2014), (Washington: World Bank).
  • Hohonan, P. (2007), Cross country variation in households access to financial services, Conference manuscript.
  • Karpowicz, I., 2014, Financial inclusion, growth and inequality: a model application to Colombia, IMF Working Paper, WP/14/166, International Monetary Fund.
  • King, R.G. Levine, R. (1993), Finance and growth: Schumpeter might be right, The Quarterly Journal of Economics, No. 108 (3), 717-37.
  • Klapper, L., Singer, D. (2015), The role of informal financial services in Africa, Journal of African Economies, Vol. 24.
  • La Gran Encuesta PYME, ANIF Centro de Estudios Económicos, 2nd Semester 2013.
  • Levine, R. (2005), Finance and growth: theory and evidence, Handbook of Economic Growth, Vol. 1, edited by Aghion P. and Durlauf, S., Elsevier, pp. 865-934.
  • Moll, B., Townsend, R., Zhorin, V. (2014), Economic development and the equilibrium interaction of financial frictions, mimeo.
  • Nigeria: Selected Issues Paper, 2015, International Monetary Fund.
  • Reddy, R., Bruhn, M., Congyan, T. (2013), Financial capability in Colombia: results from a national survey on financial behaviors, attitudes, and knowledge(Washington: World Bank).
  • Rojas-Suarez, L., Amado, M.A. (2014), Understanding Latin America's financial inclusion gap, CGD Working Paper367, Center for Global Development.
  • Sarma, M. (2008), Index of financial inclusion, ICRIER Working Paper 215, Indian Council for Research on International Economic Relations.
  • Townsend, R., Alem, M. (2014), An evaluation of financial institutions: impact on consumption and investment using panel data and the theory of risk-bearing, Journal of Econometrics, 183(1): 91-103.
Typ dokumentu
Identyfikator YADDA

Zgłoszenie zostało wysłane

Zgłoszenie zostało wysłane

Musisz być zalogowany aby pisać komentarze.
JavaScript jest wyłączony w Twojej przeglądarce internetowej. Włącz go, a następnie odśwież stronę, aby móc w pełni z niej korzystać.