Financial Inclusion and Inclusive Growth

Topic

Financial Inclusion and Inclusive Growth

Instructions

Discuss the concept of Financial Inclusion; how is it related to the notion of the Financial Development; the key facts and drivers under Financial Inclusion; the limitations of the concept; and how it helps ensuring inclusive growth.

Is microfinance/microcredit actually effective?

What are the practical limits of Financial Inclusion?

Are relevant policies efficient?

Are solutions uniform?

Answer preview

Financial inclusion has been defined variedly by scholars. However, there appears to be some degree of consensus on what it is. Financial inclusion may therefore be defined as a financial or economic situation where all adults within a society can access and effectively use varied and suitable financial services (Chauvet and Jacolin, 2017; Grohmann, Kllhs and Menkhoff, 2017). Essentially, if there is financial inclusion, the adults have access to bank and other financial account types, where they can make, and receive payments, and save money.

Word count: 1419

Slide count: 14