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Financial Inclusion in Latin America and the Caribbean during the COVID pandemic

Author

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  • Peterson K. OZILI

Abstract

Purpose: This paper provides an overview of financial inclusion in the Latin America and Caribbean region during the COVID pandemic based on 2021 Global Findex data.Methodology: The study used descriptive data analysis to show the trend in financial inclusion during the pandemic.Results: The study found that there was low level of financial inclusion in the LAC region. Account ownership and formal savings of the LAC region were below the world average in all population categories during the pandemic. The female, poor and uneducated population were the most adversely affected during the pandemic. This calls for urgent need to accelerate recovery from the pandemic and increase financial inclusion interventions for the vulnerable members of the population in the LAC region.Originality: Existing financial inclusion studies focusing on LAC countries have not provided an overview of the state of financial inclusion in Latin America and Caribbean countries during the COVID pandemic. Therefore, there is an urgent need to understand the current state of financial inclusion in the Latin American and Caribbean region during the COVID-19 pandemic.

Suggested Citation

  • Peterson K. OZILI, 2024. "Financial Inclusion in Latin America and the Caribbean during the COVID pandemic," Journal of Academic Finance, RED research unit, university of Gabes, Tunisia, vol. 15(3), pages 21-39, April.
    • Handle: RePEc:jaf:journl:v:15:y:2024:i:3:n:612
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    More about this item

    Keywords

    latin america; caribbean; covid; amerique latine; caraibes; covid;
    All these keywords.

    JEL classification:

    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • N8 - Economic History - - Micro-Business History
    • G3 - Financial Economics - - Corporate Finance and Governance

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