Financial inclusion and Fintech during COVID-19 crisis: Policy solutions

Ozili, Peterson K (2020): Financial inclusion and Fintech during COVID-19 crisis: Policy solutions. Published in:

Abstract

This article offers a number of policy solutions to improve financial inclusion during the COVID19 crisis. COVID-19 is a global health crisisto which some of the usual global solutionslike greater financial inclusion can help. Financial inclusion remains a powerful development tool to improve access to finance and to support vulnerable individuals and households during the coronavirus or COVID-19 crisis. The documented policy solutions for financial inclusion can help mitigate the effect of the COVID-19 crisis through the combined use of Fintech and short-term policies

• Item Type: MPRA Paper
• Language: English
• Keywords: digital finance, Fintech, financial inclusion, access to finance, regulation, financial services, COVID-19, Coronavirus, SARS-CoV-2, lockdown, social distancing, pandemic, recession, financial crisis, policy.
• Subjects: G - Financial Economics > G0 - General > G00 - General; G - Financial Economics > G2 - Financial Institutions and Services > G21 - Banks ; Depository Institutions ; Micro Finance Institutions ; Mortgages; I - Health, Education, and Welfare > I3 - Welfare, Well-Being, and Poverty > I31 - General Welfare, Well-Being; I - Health, Education, and Welfare > I3 - Welfare, Well-Being, and Poverty > I32 - Measurement and Analysis of Poverty; I - Health, Education, and Welfare > I3 - Welfare, Well-Being, and Poverty > I38 - Government Policy ; Provision and Effects of Welfare Programs; I - Health, Education, and Welfare > I3 - Welfare, Well-Being, and Poverty > I39 - Other

References

Atkinson and Messy (2013) Show that low levels of financial inclusion are associated with lower levels of financial literacy.

Chaia, A., Dalal, A., Goland, T., Gonzalez, M. J., Morduch, J., & Schiff, R. (2009). Half the world is unbanked.

Chen, R., & Divanbeigi, R. (2019). Can Regulation Promote Financial Inclusion? The World Bank.

Cull, R., Cull, R. J., Demirgüç-Kunt, A., & Morduch, J. (Eds.). (2013). Banking the world: empirical foundations of financial inclusion. MIT Press.

Evans, O. (2018). Connecting the poor: the internet, mobile phones and financial inclusion in Africa. Digital Policy, Regulation and Governance.

Dupas, P., Karlan, D., Robinson, J., & Ubfal, D. (2018). Banking the Unbanked? Evidence from three countries. American Economic Journal: Applied Economics, 10(2), 257-97.

Han, R., & Melecky, M. (2013). Financial inclusion for financial stability: access to bank deposits and the growth of deposits in the global financial crisis. The World Bank.

Hannig, A., & Jansen, S. (2010). Financial inclusion and financial stability: Current policy issues.

Atkinson, A., & Messy, F. A. (2013). Promoting financial inclusion through financial education.

Mader, P. (2018). Contesting financial inclusion. Development and Change, 49(2), 461-483.

Ozili, P. K. (2018). Impact of digital finance on financial inclusion and stability. Borsa Istanbul Review, 18(4), 329-340.

Ozili, P. K. (2020a). Social inclusion and financial inclusion: international evidence. International Journal of Development Issues.

Ozili, P. K. (2020b). Financial inclusion research around the world: A review. In Forum for social economics (pp. 1-23). Routledge.

Ozili, P. K., & Arun, T. (2020). Spillover of COVID-19: impact on the Global Economy. Available at SSRN 3562570.

Tran, T. T. H., & De Koker, L. (2019). Aligning financial inclusion and financial integrity. Journal of Money Laundering Control.