Download This PaperFinancial Inclusion - Issues for Central Banks
14 Pages Posted: 1 Apr 2015
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: 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
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