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Financial Inclusion and Financialization: Latin American Main Trends after the Great Crisis

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  • Eugenia Correa
  • Alicia Girón

Abstract

In recent decades, the World Bank (WB) and the International Monetary Fund (IMF) have promoted policies and programs for financial inclusion (FI). This article studies the meaning of the inclusion proposal as well as the main results. The most important argument of this policy is the increase of local savings as the basis of investment and growth. Although this objective has not been achieved, inclusion remains a current policy. In reality, FI has been driven by an underlying agenda, as has been the case of other policies from the same sphere of interests that the Washington Consensus authored at the beginning of the 1990s. Although this denomination has been abandoned due to the loss of prestige it has achieved in the region, its main objectives continue to be promoted by many governments. Also, FI has been a vehicle for deepening financialization.

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  • Eugenia Correa & Alicia Girón, 2019. "Financial Inclusion and Financialization: Latin American Main Trends after the Great Crisis," Journal of Economic Issues, Taylor & Francis Journals, vol. 53(2), pages 496-501, April.
    • Handle: RePEc:mes:jeciss:v:53:y:2019:i:2:p:496-501
    DOI: 10.1080/00213624.2019.1594544
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    Cited by:

    1. Eduardo Polloni-Silva & Naijela da Costa & Herick Fernando Moralles & Mario Sacomano Neto, 2021. "Does Financial Inclusion Diminish Poverty and Inequality? A Panel Data Analysis for Latin American Countries," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 158(3), pages 889-925, December.
    2. Araby Smyth, 2022. "Challenging the financialization of remittances agenda through Indigenous women’s practices in Oaxaca," Environment and Planning A, , vol. 54(4), pages 761-778, June.

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