Financial Inclusion: Zooming in on Latin America

By Era Dabla-Norris, Yixi Deng, Anna Ivanova, Izabela Karpowicz, Filiz D Unsal, Eva VanLeemput, Joyce Wong

September 28, 2015

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Era Dabla-Norris, Yixi Deng, Anna Ivanova, Izabela Karpowicz, Filiz D Unsal, Eva VanLeemput, and Joyce Wong. Financial Inclusion: Zooming in on Latin America, (USA: International Monetary Fund, 2015) accessed September 20, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

Countries in Latin America and the Caribbean (LAC) have made important strides in promoting financial inclusion of firms and households. However, while the region is broadly at par with its peers on financial inclusion of firms, household inclusion lags behind. Nonetheless, there is substantial heterogeneity across LAC countries. Reducing borrowing costs and strengthening further the regulatory environment, while taking steps to protect efficiency and stability of the financial system, could help close financial inclusion gaps. Reducing financial participation and monitoring costs and relaxing collateral constraints will help spur growth and reduce inequality though trade-offs are likely, as illustrated in the case of Guatemala, El Salvador, and Peru.

Subject: Banking, Collateral, Credit, Financial inclusion, Financial institutions, Financial markets, Income inequality, Money, National accounts, Personal income

Keywords: Amount firm, Asia and Pacific, Bank, Collateral, Cost, Credit, Enterprise inclusion, Finance, Financial inclusion, Firm, Firm employment distribution, Firm FI gap, Firms of credit opportunity, Global, Growth, Inclusion gap, Income inequality, Inequality, Informal finance, Latin America, Leveraged firm, Personal income, World Bank enterprise, WP

Publication Details

Pages:

35
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2015/206
Stock No:

WPIEA2015206
ISBN:

9781513568928
ISSN:

1018-5941

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