Gallup, Inc – updated and expanded the Global Findex dataset, In India, an effort to set up accounts for rural farmers reduced the rate of rural poverty between
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[PDF] Global Findex - World Bank Group
The Global Findex Database 2017: Measuring Financial Inclusion and the Fin- unbanked, such as China and India, as well as in those where half or more are,
[PDF] 2 THE UNBANKED - Global Findex
Home to 225 million adults without an account, China has the world's largest unbanked population, fol- lowed by India (190 million), Pakistan (100 million), and
[PDF] The Global Findex Database 2017 - World Bank Group
Today, India's gender gap has shrunk to 6 percent- age points thanks to a strong government push to increase account ownership through biometric identification
[PDF] Base de données Global Findex - Open Knowledge Repository
La Base de données Global Findex 2017 : Mesurer l'inclusion financière et la révo- ity: Evidence from Biometric Smartcards in India ” American Economic
[PDF] 1 ACCOUNT OWNERSHIP - Global Findex
Between 2014 and 2017 account ownership in India rose by more than 30 percentage points among women as well as among adults in the poorest 40 percent of
[PDF] Global Findex - World Bank Group
Financial inclusion is critical in Global Findex database, the reducing INDIA 79 64 of adults in developing countries had an account 53 35 53 35
74 South Asia Lower middle income - Global Findex
Little Data Book on Financial Inclusion Country data South Asia Lower middle income India Population, age 15+ (millions) 950 8 GNI per capita ($) 1,670
[PDF] Global Findex - World Bank Document - World Bank Group
does allow such comparison are China and India (box 1 3) For all these reasons, the 2014 Global Findex database provides estimates for account penetration
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Gallup, Inc – updated and expanded the Global Findex dataset, In India, an effort to set up accounts for rural farmers reduced the rate of rural poverty between
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1
Measuring Financial Inclusion:
The Global FindexDataset
Leora Klapper
Lead Economist
Development Research Group
World Bank
Supply side surveysDemand side surveys
In depth data... but
less coverageVarious institution-specific
administrative dataLSMS financialmodulesFinScope
EFiNAFinclusion(Intermedia)
WB Financial Literacy surveys
OECD SME Scorecard
Limited headline
numbers... but broader coverageIMF Financial Access Survey
GSMAWB GlobalPayment Systems Survey
WB Enterprise Surveys
Gallup World Poll, WorldValue Survey,Pew
Research, etc.
Global Findex
Why collect Global Findexdata?
Sources of Financial Inclusion Data
In 2014, the World Bank -with funding from the Bill & Melinda Gates Foundation and in partnership with
Gallup, Inc. -updated and expanded the Global Findex dataset, an unprecedented study of financial inclusion based on interviews with almost 150,000 adults in over 140 economies worldwide.The World Bank's Global Findex Database
54% of adults in developing economies had an account in 2014, up from
41% in 2011 -but 2 billion adults remain unbanked
Fin Financial inclusion can increase resilience in two ways: Helping poor adults climb out of poverty by making it possible to invest in education and business - and small enterprises pursue promising growth opportunitiesProviding ways to survive economic disasters like unemployment, drought/floods, or the loss of a breadwinner, financial inclusion also prevents people from falling into poverty in the first place
For example,
In India, an effort to set up accounts for rural farmers reduced the rate of rural poverty between 1417 percentage points
In Kenya, merchants who received a basic account invested more in their businesses Access to insurance helped farmers in Burkina Faso and Senegal increase yields and better manage food securityIn Niger, digital payments for agricultural wages resulted in time savings that were equivalent to a cash amount large enough to feed a family of five for a day
In Kenya, adults that use mobile money receive greater financial supportin emergencies How Can Financial Inclusion Increase Financial Resilience? What country-level factors explain the wide variations in account ownership across emerging economies? Differences in the legal, regulatory, and tax environment {financial & telecom} Impact of reforms, such as new laws/regulations permitting agents, mobile money accounts (/technology), and tiered KYCAccount Ownership and GDP Per Capita
Economic Activity and Financial Inclusion
0%20%40%60%80%
100%$- $10,000 $20,000 $30,000 $40,000 $50,000 $60,000
Account ownership (%)
GDP per capita (constant US$), 2014
Barriers to Account Ownership
Total Percentage of Adults
12%18%22%23%28%30%
0%5%10%15%20%25%30%35%Lack of trustLack of necessary documentationFinancial institutions too far awayAccounts too expensiveFamily member already has an accountDo not need an account
Barriers to Account Ownership Around the World
Source: Global Findex(2014); http://www.worldbank.org/globalfindexFinancial Inclusion in Developing Countries
Total Percentage of Adults, 2014
234 million adults in China remain unbanked and
71% of them live in rural areas
46%60%50%
59%Poorest 40% of Households
Richest 60% of HouseholdsWomen
MenThe percent of unbanked adults in the poorest
40% of households dropped by 17 percentage
points -but more than half in developing countries are still without accounts In the Middle East older adults are twice as likely as younger adults to have an accountIn India, men are more than 20 percentage points
more likely than women to have an accountChallenges: Inequality in Access
0%10%20%30%40%50%60%70%80%90%
BrazilChinaIndiaMexicoRussian
FederationSouth AfricaTurkey
The Benefits and Risks of Digital Financial ServicesMakes or
receives digital payments Note: The height of the bar is the percentage of adults with an account.Over 400 million unbanked adults
receive government transfer or wage payments in cashAbout 9 in 10 government payment recipients in
Brazil and South Africa are paid into an account
Over half of all account owners in Latin America
use their debit card to make direct payments30% of adults in china make payments from
their account using their mobile phoneNearly a quarter of adults in Turkey
report using a credit cardSavings behavior
Total Percentage of Adults
0%10%20%30%40%50%60%70%80%90%100%
High Income:
OECDChinaEast Asia &
Pacific (ex.
China)IndiaSouth Asia
(ex. India)Europe &Central AsiaLatin
America &
CaribbeanSub-Saharan
Africa
Saved using
an accountSaved using a
community savings groupDid not save
Saved in
other waysSavings
Formal Credit
Total Percentage of Adults
Access to Credit
10Borrowing behavior
Total Percentage of Adults
0%10%20%30%40%50%60%70%80%90%100%
WorldDevelopingEast Asia &
PacificEurope &
Central AsiaHigh Income:
OECDLatin
America &
CaribbeanMiddle EastSouth AsiaSub-Saharan
Africa
Family &
Friends
Formal
financial institutionDid not
borrowAccess to Credit
Borrowing behavior, including credit card paymentsTotal Percentage of Adults
18%20%
12% 8%35% 16% 22%18% 0%
10%20%30%40%50%60%
High Income: OECDTurkeyBrazilArgentina
+ Used credit cardBorrowed
formallyAccess to Credit
Source: S&P Global FinLitSurvey and Global Findexdatabase Note: The height of the bars is the percentage of adults that used a credit card or borrowed from a bankMajor advanced economies include: Canada, France, Germany, Italy, Japan, United Kingdom, United States
Major emerging economies include: Brazil, China, India, Russian Federation, South AfricaFinancial Literacy
Total Percentage of Adults who used a credit card or borrowed from a financial institution in the past yearChallenges to Financial Stability :
Financial Literacy and Use of Formal Credit
Credit card ownership has
doubled in China since 2011 -to 16%. Yet only 58% percent of credit card owners understand interest compounding.Financial Resilience: Source of emergency funds
Total Percentage of Adults
Note: the height of the bar is the percentage of adults that report being able to come up the equivalent of 1/20
th of GNI in a month.