IDEAS home Printed from https://ideas.repec.org/p/bbv/wpaper/1525.html
   My bibliography  Save this paper

Technology, Opportunity & Access: Understanding Financial Inclusion in the U.S

Author

Listed:
  • Nathaniel Karp
  • Boyd Nash-Stacey

Abstract

Although the U.S. is regarded as having a well-developed and deep financial system, financial inclusion continues to be a challenge for many communities and households. Using four databases with over 4 million data points and a PCA methodology, we developed the FIMI for 251 Metropolitan Statistical Areas, to help us identify the main determinants behind financial inclusion

Suggested Citation

  • Nathaniel Karp & Boyd Nash-Stacey, 2015. "Technology, Opportunity & Access: Understanding Financial Inclusion in the U.S," Working Papers 1525, BBVA Bank, Economic Research Department.
    • Handle: RePEc:bbv:wpaper:1525
    as

    Download full text from publisher

    File URL: https://www.bbvaresearch.com/wp-content/uploads/2015/07/WP15-25_FinancialInclusion_MSA.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Dean Karlan & Robert Osei & Isaac Osei-Akoto & Christopher Udry, 2014. "Agricultural Decisions after Relaxing Credit and Risk Constraints," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 129(2), pages 597-652.
    2. Jean Arcand & Enrico Berkes & Ugo Panizza, 2015. "Too much finance?," Journal of Economic Growth, Springer, vol. 20(2), pages 105-148, June.
    3. Mishra, SK, 2007. "A Comparative Study of Various Inclusive Indices and the Index Constructed by the Principal Components Analysis," MPRA Paper 3377, University Library of Munich, Germany.
    4. Robert G. King & Ross Levine, 1993. "Finance and Growth: Schumpeter Might Be Right," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(3), pages 717-737.
    5. Sudip Ranjan Basu, 2008. "A New Way To Link Development To Institutions, Policies And Geography," UNCTAD Blue Series Papers 37, United Nations Conference on Trade and Development.
    6. King, Robert G. & Levine, Ross, 1993. "Finance, entrepreneurship and growth: Theory and evidence," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 513-542, December.
    7. Britta Augsburg & Ralph De Haas & Heike Harmgart & Costas Meghir, 2012. "Microfinance at the Microfinance at the margin: experimental evidence from Bosnia and Herzegovina vidence from Bosnia and Herzegovina," Working Papers 146, European Bank for Reconstruction and Development, Office of the Chief Economist.
    8. Han, Rui & Melecky, Martin, 2013. "Financial inclusion for financial stability : access to bank deposits and the growth of deposits in the Global Financial Crisis," Policy Research Working Paper Series 6577, The World Bank.
    9. Jenny Aker, Rachid Boumnijel, Amanda McClelland, and Niall Tierney, 2011. "Zap It to Me: The Short-Term Impacts of a Mobile Cash Transfer Program - Working Paper 268," Working Papers 268, Center for Global Development.
    10. J Neill Marshall, 2004. "Financial Institutions in Disadvantaged Areas: A Comparative Analysis of Policies Encouraging Financial Inclusion in Britain and the United States," Environment and Planning A, , vol. 36(2), pages 241-261, February.
    11. Wojciech Kopczuk & Emmanuel Saez & Jae Song, 2010. "Earnings Inequality and Mobility in the United States: Evidence from Social Security Data Since 1937," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 125(1), pages 91-128.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Beatriz Fernández-Olit & Juan Diego Paredes-Gázquez & Marta de la Cuesta-González, 2018. "Are Social and Financial Exclusion Two Sides of the Same Coin? An Analysis of the Financial Integration of Vulnerable People," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 135(1), pages 245-268, January.
    2. Julie Birkenmaier & David Rothwell & Mary Agar, 2022. "How is Consumer Financial Capability Measured?," Journal of Family and Economic Issues, Springer, vol. 43(4), pages 654-666, December.
    3. Rahmanda Muhammad Thaariq & Arif Anindita & Hafizha Dea Iftina, 2021. "The Internet Miracle: The Impact Of Internet Access On Household Saving In Indonesia," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 24(2), pages 255-282, June.
    4. Robert Huterski & Agnieszka Anna Huterska & Justyna Łapińska & Ewa Zdunek-Rosa, 2020. "The problem of savings exclusion and gross savings in the new European Union member states," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(3), pages 2470-2480, March.
    5. Julie Birkenmaier & Qiang Fu, 2018. "Household Financial Access and Use of Alternative Financial Services in the U.S.: Two Sides of the Same Coin?," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 139(3), pages 1169-1185, October.
    6. J. Birkenmaier & Q. J. Fu, 2019. "Does Consumer Financial Management Behavior Relate to Their Financial Access?," Journal of Consumer Policy, Springer, vol. 42(3), pages 333-348, September.
    7. Luisa Blanco & Salvador Contreras & Amit Ghosh, 2022. "Impact of Great Recession bank failures on use of financial services among racial/ethnic and income groups," Southern Economic Journal, John Wiley & Sons, vol. 88(4), pages 1574-1598, April.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Tongurai, Jittima & Vithessonthi, Chaiporn, 2018. "The impact of the banking sector on economic structure and growth," International Review of Financial Analysis, Elsevier, vol. 56(C), pages 193-207.
    2. Samargandi, Nahla & Fidrmuc, Jan & Ghosh, Sugata, 2015. "Is the Relationship Between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle-Income Countries," World Development, Elsevier, vol. 68(C), pages 66-81.
    3. Chris Doucouliagos & Jakob de Haan & Jan-Egbert Sturm, 2022. "What drives financial development? A Meta-regression analysis [A new database of financial reforms]," Oxford Economic Papers, Oxford University Press, vol. 74(3), pages 840-868.
    4. Bofinger, Peter & Geißendörfer, Lisa & Haas, Thomas & Mayer, Fabian, 2021. "Discovering the True Schumpeter - New Insights into the Finance and Growth Nexus," CEPR Discussion Papers 16851, C.E.P.R. Discussion Papers.
    5. Taiwo Akinlo & Dauda Olalekan Yinusa & Akintoye Victor Adejumo, 2021. "Financial development and real sector in sub-Saharan Africa," Economic Change and Restructuring, Springer, vol. 54(2), pages 417-455, May.
    6. Boikos, Spyridon & Panagiotidis, Theodore & Voucharas, Georgios, 2022. "Financial development, reforms and growth," Economic Modelling, Elsevier, vol. 108(C).
    7. Giorgio Fagiolo & Daniele Giachini & Andrea Roventini, 2020. "Innovation, finance, and economic growth: an agent-based approach," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 15(3), pages 703-736, July.
    8. Thorsten Beck, 2013. "Finance, growth and fragility: the role of government," International Journal of Banking, Accounting and Finance, Inderscience Enterprises Ltd, vol. 5(1/2), pages 49-77.
    9. Iftekhar Hasan & Roman Horvath & Jan Mares, 2018. "What Type of Finance Matters for Growth? Bayesian Model Averaging Evidence," The World Bank Economic Review, World Bank, vol. 32(2), pages 383-409.
    10. Demetriades, Panicos O. & Rousseau, Peter L., 2016. "The changing face of financial development," Economics Letters, Elsevier, vol. 141(C), pages 87-90.
    11. Emanuele Ciola, 2020. "Financial sector bargaining power, aggregate growth and systemic risk," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 15(1), pages 89-109, January.
    12. Boris Cournède & Oliver Denk & Peter Hoeller, 2015. "Finance and Inclusive Growth," OECD Economic Policy Papers 14, OECD Publishing.
    13. Balázs Egert & Fredj Jawadi, 2018. "The Nonlinear Relationship between Economic growth and Financial Development," EconomiX Working Papers 2018-26, University of Paris Nanterre, EconomiX.
    14. Gründler, Klaus & Weitzel, Jan, 2013. "The financial sector and economic growth in a panel of countries," Discussion Paper Series 123, Julius Maximilian University of Würzburg, Chair of Economic Order and Social Policy.
    15. Alberto Bucci & Simone Marsiglio, 2019. "Financial development and economic growth: long‐run equilibrium and transitional dynamics," Scottish Journal of Political Economy, Scottish Economic Society, vol. 66(3), pages 331-359, July.
    16. Alessio Ciarlone, 2019. "The relationship between financial development and growth: the case of emerging Europe," Questioni di Economia e Finanza (Occasional Papers) 521, Bank of Italy, Economic Research and International Relations Area.
    17. Marco Pagano & ESRB Advisory Scientific Committee, 2014. "Is Europe Overbanked?," mBank - CASE Seminar Proceedings 132, CASE-Center for Social and Economic Research.
    18. Guangdong Xu, 2022. "From financial structure to economic growth: Theory, evidence and challenges," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 51(1), February.
    19. Beck, Thorsten & Chen, Tao & Lin, Chen & Song, Frank M., 2016. "Financial innovation: The bright and the dark sides," Journal of Banking & Finance, Elsevier, vol. 72(C), pages 28-51.
    20. Kirikkaleli, Dervis & Athari, Seyed Alireza, 2020. "Time-frequency co-movements between bank credit supply and economic growth in an emerging market: Does the bank ownership structure matter?," The North American Journal of Economics and Finance, Elsevier, vol. 54(C).

    More about this item

    Keywords

    Banks ; Digital economy ; Economic Analysis ; Financial Inclusion ; Financial regulation ; Regional Analysis ; Research ; USA ; Working Paper;
    All these keywords.

    JEL classification:

    • D1 - Microeconomics - - Household Behavior
    • D6 - Microeconomics - - Welfare Economics
    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General
    • R20 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - General

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bbv:wpaper:1525. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: OSCAR DE LAS PENAS SANCHEZ-CARO (email available below). General contact details of provider: https://edirc.repec.org/data/ebbvaes.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.