Financial Inclusion: Zooming in on Latin America

36 Pages Posted: 27 Nov 2015

See all articles by Era Dabla-Norris

Era Dabla-Norris

International Monetary Fund (IMF)

Yixi Deng

International Monetary Fund (IMF)

Anna Ivanova

International Monetary Fund (IMF) - European Department

Izabela Karpowicz

International Monetary Fund (IMF)

Filiz Unsal

International Monetary Fund (IMF)

Eva VanLeemput

International Monetary Fund (IMF)

Joyce Wong

International Monetary Fund (IMF)

Date Written: September 2015

Abstract

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.

Keywords: Financial inclusion, Growth, Inequality, finance, household, households, bank, Equity, Justice, and Other Normative Criteria and Measurement, Economic Growth of Open Economies,

JEL Classification: -;- D63, D63, F43, F43, G21, G21

Suggested Citation

Dabla-Norris, Era and Deng, Yixi and Ivanova, Anna and Karpowicz, Izabela and Unsal, Filiz and VanLeemput, Eva and Wong, Joyce, Financial Inclusion: Zooming in on Latin America (September 2015). IMF Working Paper No. 15/206. Available at SSRN: https://ssrn.com/abstract=2696064

Era Dabla-Norris (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

Yixi Deng

International Monetary Fund (IMF)

700 19th Street, N.W.
Washington, DC 20431
United States

Anna Ivanova

International Monetary Fund (IMF) - European Department ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Izabela Karpowicz

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Filiz Unsal

International Monetary Fund (IMF)

700 19th Street, N.W.
Washington, DC 20431
United States

Eva VanLeemput

International Monetary Fund (IMF)

700 19th Street, N.W.
Washington, DC 20431
United States

Joyce Wong

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

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