Financial Exclusion [Hardcover]

This text is concerned with the increasingly important and problematic area of financial exclusion, broadly defined as the inability and/or reluctance of particular societal groups to access mainstream financial services. This has emerged as a major international policy issue. There is growing evidence that deregulation in developed financial sectors improves financial inclusion for some societal groups (more products become available to a bigger customer base), but may at the same time exacerbate it for others (for example, by emphasizing greater customer segmentation and more emphasis on risk-based pricing and 'value added'). In developing countries access to financial services is typically limited and therefore providing wider access to such services can aid financial and economic development. This is the first text to analyze financial exclusion issues in different parts of the world and it covers the various public and private sector mechanisms that have been advanced to help eradicate this problem.List of Tables List of Figures Glossary of Acronyms PART 1: INTRODUCTION Aims and Objectives PART 2: NATURE, CONSEQUENCES AND POLICY REACTIONS: AN OVERVIEW Introduction Nature and Causes The Financially Excluded Consequences of Financial Exclusion US Experiences Responding to Financial Exclusion Conclusions PART 3: UK EXPERIENCES Introduction Financial Exclusion in the UK and the Nature of Excluded Groups Background and Types of Indicators Why is Financial Exclusion Occurring in the UK? Excluded Groups and Products Barriers to Financial Inclusion Consequences of Financial Exclusion PART 4: TACKLING FINANCIAL EXCLUSION IN THE UK Introduction Government and Financial Sector Partnership Universal Banking and Basic Banking Services Promoting Financial Literacy and Closing the Information Gap Tailoring Products and Strategies Other Institutional Arrangements SMEs and Micro Credit (Microfinance) Regulation and Financial Exclusion Conclusions PART 5: FINANCIAL EXCLUSION IN lóS