Columbia International Affairs Online: Working Papers

CIAO DATE: 04/2015

Financial Inclusion and Global Regulatory Standards: An Empirical Study across Developing Economies

Mariana Magaldi De Sousa

March 2015

Centre for International Governance Innovation

Abstract

Expanding the access of financial services to low-income households and other disadvantaged groups has become an important public policy goal in the past decade. Many developing economies have encouraged the introduction of a variety of programs, services and branchless banking instruments ranging from automatic teller machines to mobile phones to reach people for whom traditional, branch-based structures, had not. This paper contributes to the discussion about the enablers and barriers to responsible financial inclusion by assessing to what extent differences in the adoption of post-crisis global regulatory standards can explain cross-country variation in financial inclusion.