Inequality in Financial Inclusion and Income Inequality

IMF Working Papers, November 8, 2017

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Inequality in Financial Inclusion and Income Inequality

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Bibliographic details

• Authors: Goksu Aslan, Corinne C Delechat, Monique Newiak, Fan Yang
• Published: November 8, 2017
• Series: IMF Working Papers
• DOI: https://doi.org/10.5089/9781484324905.001

Overview

• Title: Inequality in Financial Inclusion and Income Inequality
• Authors: Goksu Aslan, Corinne C Delechat, Monique Newiak, Fan Yang
• Date: November 8, 2017
• Publication: IMF Working Papers, Working Paper No. 2017/236, Issue 236, Volume 2017
• Pages: 32
• DOI: https://doi.org/10.5089/9781484324905.001
• ISBN: 9781484324905
• ISSN: 1018-5941
• Stock No: WPIEA2017236

Data and methodology

• Micro-dataset covering 146,000 individuals in over 140 countries.
• Construction of novel, synthetic indices of the intensity of financial inclusion at:
  • the individual level
  • the country level
• Derivation of the distribution of individual financial access “scores” across countries.

Key findings

• The analysis identifies a “Kuznets”-curve in financial inclusion based on the derived distribution of individual financial access “scores”.
• Cross-country regressions show that the measure of inequality in financial access is significantly related to income inequality, controlling for factors previously highlighted in the literature.
• Three stated contributions to the literature:
  • First, construction of synthetic indices of intensity of financial inclusion using the micro-dataset.
  • Second, documentation of a “Kuznets”-curve in financial inclusion via the distribution of financial access scores.
  • Third, confirmation through cross-country regressions that inequality in financial access is significantly related to income inequality.

Subjects and keywords

• Subjects: Financial inclusion, Financial markets, Financial sector development, Gender, Gender inequality, Income distribution, Income inequality, National accounts
• Keywords: cumulative distribution function, financial access, financial development, Financial inclusion, Financial sector development, gender inequality, Gini coefficient, Global, Income distribution, income inequality, inequality data, market Gini, sub-Saharan Africa, WP

Source: IMF Working Paper “Inequality in Financial Inclusion and Income Inequality”, Working Paper No. 2017/236.

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• Inequality in Financial Inclusion and Income Inequality, WP/17/236, November 2017
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