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Achieving Financial Inclusion: Whatever It Takes

In: The New Digital Era: Other Emerging Risks and Opportunities

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  • Peterson K. Ozili

Abstract

Purpose:This chapter examines some policy ideas on how to achieve high levels of financial inclusion. It explores policy options that can be used to achieve greater levels of financial inclusion. Methodology:The chapter uses a discursive approach to analyse the steps to achieving full financial inclusion. Findings:The chapter offers some suggestions on how to achieve full financial inclusion. They include reducing interest rates, introducing conditional low-interest rates, supporting monetary policies with social security payments, reducing taxes, using targeted government spending, supporting fiscal policies with conditional tax rebate and tax exemptions, financial inclusion–environment decoupling, de-risking the financial system, and ring-fencing banking for the poor. Originality:This study contributes to the financial inclusion literature by exploring additional ways to achieve high levels of financial inclusion.

Suggested Citation

  • Peterson K. Ozili, 2022. "Achieving Financial Inclusion: Whatever It Takes," Contemporary Studies in Economic and Financial Analysis, in: The New Digital Era: Other Emerging Risks and Opportunities, volume 109, pages 3-11, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:csefzz:s1569-37592022000109b001
    DOI: 10.1108/S1569-37592022000109B001
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    1. Peter J. Morgan & Victor Pontines, 2014. "Financial Stability and Financial Inclusion," Microeconomics Working Papers 24278, East Asian Bureau of Economic Research.
    2. Mohammed Ait Lahcen & Pedro Gomis‐Porqueras, 2021. "A Model of Endogenous Financial Inclusion: Implications for Inequality and Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(5), pages 1175-1209, August.
    3. Ebenezer Bugri Anarfo & Joshua Yindenaba Abor & Kofi Achampong Osei & Agyapomaa Gyeke-Dako, 2019. "Financial inclusion and financial sector development in Sub-Saharan Africa: a panel VAR approach," International Journal of Managerial Finance, Emerald Group Publishing Limited, vol. 15(4), pages 444-463, April.
    4. Adele Atkinson & Flore-Anne Messy, 2013. "Promoting Financial Inclusion through Financial Education: OECD/INFE Evidence, Policies and Practice," OECD Working Papers on Finance, Insurance and Private Pensions 34, OECD Publishing.
    5. Thorsten Beck & Lemma Senbet & Witness Simbanegavi, 2015. "Financial Inclusion and Innovation in Africa: An Overview," Journal of African Economies, Centre for the Study of African Economies, vol. 24(suppl_1), pages 3-11.
    6. Ebenezer Bugri Anarfo & Joshua Yindenaba Abor & Kofi Achampong Osei & Agyapomaa Gyeke-Dako, 2019. "Monetary Policy and Financial Inclusion in Sub-Sahara Africa: A Panel VAR Approach," Journal of African Business, Taylor & Francis Journals, vol. 20(4), pages 549-572, October.
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    More about this item

    Keywords

    Financial inclusion; interest rate; monetary policy; fiscal policies; environment; financial system; financial institutions; digital finance;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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