Gopalan / Kikuchi Financial Inclusion in Asia

Issues and Policy Concerns
1. Auflage 2016
ISBN: 978-1-137-58337-6
Verlag: Palgrave Macmillan UK
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 284 Seiten

Reihe: Economics and Finance

This book brings together a set of analytical and empirical essays aimed at understanding inclusive finance in emerging markets focusing on Asia. Despite the significant policy interest in the issue of financial inclusion in the Asian market, there is a dearth of academic literature on the topic. This book fills this gap by being the first of its kind to address the relevant issues and policy concerns relating to the availability and affordability of financial services in this rapidly emerging geopolitical area. The book features a mixture of empirical and case study oriented essays, informed by data, literature and policy analysis that will be useful for both the academics and the policy makers in the region interested in the subject. Countries highlighted in the essays assessing financial inclusivity include Indonesia, Sri Lanka and India.

Dr Sasidaran Gopalan is a Research Fellow at the Asia Competitiveness Institute at the Lee Kuan Yew School of Public Policy, National University of Singapore. Prior to this, he was a Post-Doctoral Fellow at the Institute for Emerging Market Studies at the Hong Kong University of Science and Technology (HKUST) and the HKUST Jockey Club Institute for Advanced Study. Dr Tomoo Kikuchi is a Senior Research Fellow at Centre on Asia and Globalisation (CAG) at the Lee Kuan Yew School of Public Policy (LKYSPP), National University of Singapore (NUS), Singapore. His research interests include: economic growth and development, international trade and investment, asset price bubbles and political economy.

Autoren/Hrsg.

Gopalan, Sasidaran

Kikuchi, Tomoo

Inhaltsverzeichnis

1;Preface and Introduction;6
1.1;Part I—Measurement and Determinants;8
1.2; Part II—Financial Inclusion: Importance and Implications;9
1.3; Part III—Financial Inclusion in Asia: Country Experiences;10
2;Acknowledgments;12
3;Contents;14
4;About the Contributors;16
5;About the Editors;20
6;List of Figures;22
7;List of Tables;26
8;Part I: Measurement and Determinants;28
8.1;1: Measuring Financial Inclusion for Asian Economies;29
8.1.1; Introduction;29
8.1.2; Defining and Measuring Financial Inclusion: A Brief Review;31
8.1.3; Index of Financial Inclusion (IFI);36
8.1.3.1; Methodology;36
8.1.4; Index of Financial Inclusion for Asian Economies;41
8.1.4.1; Banking Penetration (Dimension 1);43
8.1.4.2; Availability of Banking Services (Dimension 2);43
8.1.4.3; Usage (Dimension 3);45
8.1.4.4; Choice of Mi and mi for Dimension Indexes;46
8.1.4.5; Weights Assigned to the Dimensions;47
8.1.5; IFI for Asian Countries, 2004–2013;48
8.1.5.1; Countries by IFI Categories;51
8.1.5.2; IFI by Income Categories;52
8.1.5.3; IFI by Regional Grouping;55
8.1.5.4; IFI Level and Features of Banking Sector;55
8.1.6; Conclusion;58
8.1.7;References;59
8.2;2: Determinants of Financial Inclusion in Asia;61
8.2.1; Introduction;61
8.2.2; Data;63
8.2.3; Indicators of Financial Inclusion;64
8.2.4; Determinants of Financial Inclusion;69
8.2.4.1; Methodology;69
8.2.4.2; Determinants of Financial Inclusion Indicators;72
8.2.5; Conclusion;81
8.2.6;References;82
9;Part II: Financial Inclusion: Importance and Implications;84
9.1;3: Does Financial Inclusion Reduce Poverty and Income Inequality in Developing Asia?;85
9.1.1; Introduction;85
9.1.2; Related Literature;88
9.1.3; Financial Inclusion Indicator;91
9.1.4; Empirical Methodology and Data Sources;98
9.1.5; Empirical Results;103
9.1.6; Summary and Policy Implications;114
9.1.7;References;116
9.2;4: Financial Inclusion and Monetary Policy in Emerging Asia;117
9.2.1; Introduction;118
9.2.2; Measuring Financial Inclusion in Emerging Asia;122
9.2.3; Financial Inclusion and Monetary Policy: Some Theoretical Arguments;128
9.2.4; Empirical Evidence on Interest Rate Sensitivity;131
9.2.5; Financial Inclusion and Monetary Policy Targets;137
9.2.6; Conclusion;147
9.2.7;References;148
10;Part III: Financial Inclusion in Asia: Country Experiences;152
10.1;5: Financial Inclusion in Indonesia: Moving Towards a Digital Payment System;153
10.1.1;Introduction;153
10.1.2; Current State of Financial Inclusion in Indonesia;155
10.1.2.1; How to Measure Financial Inclusion?;155
10.1.2.2; Indonesia’s Exposure to Financial Services;158
10.1.2.3; Financial Services Among the Poor and Vulnerable;164
10.1.2.4; Promoting Financial Services to the Poor and Vulnerable;168
10.1.2.4.1; G-to-P Payment for Financial Inclusion;168
10.1.2.4.2; Microcredit Programmes for the Poor;171
10.1.3; Models for Financial Inclusion;174
10.1.3.1; Initiatives: Saving and Credit Products;174
10.1.3.2; Greater Inclusion Through the Payment System;180
10.1.3.3; Mobile Money for G2P Transfer;184
10.1.4; Indonesia: Moving Towards a Digital Payment System;186
10.1.4.1; National Strategies;186
10.1.4.2; Adopted Model for Indonesia;192
10.1.4.3; Branchless Banking with a Digital Payment System;195
10.1.4.3.1; Regulatory Environment;195
10.1.4.3.2; Jump Start the Model;199
10.1.4.4; Challenges and Way Forward;203
10.1.4.4.1; Avoiding Inactive/Dormant Accounts;203
10.1.4.4.2; From Payments to Other Services;204
10.1.5; Conclusion;204
10.1.6;References;205
10.2;6: Financial Inclusion in Sri Lanka: Current Status and Issues;209
10.2.1; Introduction;209
10.2.2; Financial Sector in Sri Lanka;210
10.2.2.1; Formal Financial Institutions;211
10.2.2.2; Semiformal Financial Institutions;213
10.2.2.2.1; Co-operatives;213
10.2.2.2.2; NGOs and Companies Providing Microfinance;214
10.2.2.2.3; Samurdhi/Divineguma Banks;215
10.2.2.3; Geographical Coverage of Financial Institutions;215
10.2.3; Financial Inclusion: Where Does Sri Lanka Stand Within the Asian Region?;216
10.2.4; Financial Inclusion: A Household-Level Analysis;218
10.2.5; Financial Inclusion in Sri Lanka: Issues and Challenges;224
10.2.6; Conclusions;229
10.2.7;References;229
10.3;7: Microfinance and Financial Inclusion in India;231
10.3.1; Introduction;231
10.3.2; Microfinance in India Today: A Snapshot;233
10.3.3; Microfinance in India: A Brief History;238
10.3.3.1; 1950–1970 (Background);238
10.3.3.2; 1970–1990 (Genesis);239
10.3.3.3; 1990–2010 (The Take-Off);244
10.3.3.4; 2010–2011 (Andhra Pradesh Crisis);252
10.3.3.5; 2011–2015 (The Slow Rebound);261
10.3.3.5.1; A Credit Bureau;262
10.3.3.5.2; Drafting of a New Bill;262
10.3.3.5.3; Mor Committee Recommendations for Policy;265
10.3.3.5.4; Bandhan Gets Banking Licence;268
10.3.3.5.5; Recovery of the Sector;268
10.3.3.5.6;Establishment of the Micro Units Development and Refinance Agency Bank;271
10.3.4; Conclusion;272
10.3.5;References;275
11;Summary and Conclusions;279
12;Index;282