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Measuring financial inclusion : the Global Findex Database, Volume 1
 
Author:Demirguc-Kunt, Asli; Klapper, Leora; Country:World;
Date Stored:2012/04/19Document Date:2012/04/01
Document Type:Policy Research Working PaperSubTopics:Access to Finance; Emerging Markets; Economic Theory & Research; Banks & Banking Reform; E-Business
Language:EnglishRegion:The World Region
Report Number:WPS6025Collection Title:Policy Research working paper ; no. WPS 6025Paper is funded by the Knowledge for Change Program (KCP)
Volume No:1Related Dataset:Global Financial Inclusion Database (Global Findex);

Summary: This paper provides the first analysis of the Global Financial Inclusion (Global Findex) Database, a new set of indicators that measure how adults in 148 economies save, borrow, make payments, and manage risk. The data show that 50 percent of adults worldwide have an account at a formal financial institution, though account penetration varies widely across regions, income groups and individual characteristics. In addition, 22 percent of adults report having saved at a formal financial institution in the past 12 months, and 9 percent report having taken out a new loan from a bank, credit union or microfinance institution in the past year. Although half of adults around the world remain unbanked, at least 35 percent of them report barriers to account use that might be addressed by public policy. Among the most commonly reported barriers are high cost, physical distance, and lack of proper documentation, though there are significant differences across regions and individual characteristics.

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