Financial Inclusion - Issues for Central Banks

14 Pages Posted: 1 Apr 2015

See all articles by Aaron N. Mehrotra

Aaron N. Mehrotra

Bank for International Settlements (BIS)

James Yetman

Bank for International Settlements (BIS)

Date Written: March 2015

Abstract

Financial inclusion - access to financial services - is increasing worldwide, often with official support. This special feature discusses the implications for central banks. Greater financial inclusion changes the behaviour of firms and consumers in ways that could influence the effectiveness of monetary policy. The impact on financial stability may depend on how any improvements in financial access are achieved. Risks may rise if greater financial inclusion results from rapid credit growth, or if relatively unregulated parts of the financial system grow quickly.

JEL Classification: E5, G2, O16

Suggested Citation

Mehrotra, Aaron N. and Yetman, James, Financial Inclusion - Issues for Central Banks (March 2015). BIS Quarterly Review March 2015, Available at SSRN: https://ssrn.com/abstract=2580310

Aaron N. Mehrotra (Contact Author)

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland

James Yetman

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland

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