Policy Implications for Financial Inclusion of Unskilled Labor Migrants: Insights from Goa

2018 ◽  
pp. 221-246
Author(s):  
Mridula Goel ◽  
Saurabh Nayak
Keyword(s):  
Financial Inclusion ◽  
Policy Implications ◽  
Unskilled Labor ◽  
Labor Migrants

scholarly journals Welfare Implications of Credit Rationing for Financial Consumers: An Empirical Investigation on the Case of the Korean Residential Mortgage Sector

2020 ◽  
Vol 5 (No. 1 Apr 2020) ◽  
pp. 13-24 ◽  
Author(s):  
Soojin Park ◽  
Man Cho
Keyword(s):  
Financial Stability ◽  
Choice Model ◽  
Credit Rationing ◽  
Borrowing Constraints ◽  
Mortgage Lending ◽  
Financial Inclusion ◽  
Policy Implications ◽  
Negative Effects ◽  
Household Level ◽  
Residential Mortgage

Credit rationing through borrowing constraints has long been an important research topic in the literature, in the context of managing financial risks (i.e., financial stability) as well as of expanding financial service to more marginal borrower segments (i.e., financial inclusion). This study empirically investigates the role of borrowing constraints in the residential mortgage lending sector in Korea, by utilizing a discrete tenure choice model to test the constraining effects of two particular lending restrictions on households’ home owning decisions - the wealth and income constraints as measured by the maximum loan-to-value (LTV) ratio and that of debt-to-income (DTI) ratio. Using the household-level micro data from Korea, we report that: the lending restrictions exhibit negative effects on the propensity to own; those constraining effects are also shown to increase for younger borrower cohorts; and, the magnitude of the effect of wealth constraint is larger than that of the income constraint, which is consistent with the findings from the prior studies. Using the empirical findings, we discuss policy implications of relevancy, in particular, as to how to balance between two often competing policy objectives - ensuring financial stability and extending financial inclusion - in the context of the residential mortgage lending sector in Korea.

scholarly journals Linkages between Dynamic Financial Inclusion and Institutions in ASEAN 8

2020 ◽  
Vol 21 (2) ◽  
pp. 174-186
Author(s):  
Tunjung Sekar Laksmi Pandhit ◽  
Malik Cahyadin
Keyword(s):  
Credit Card ◽  
Political Stability ◽  
Dynamic Panel Data ◽  
Financial Inclusion ◽  
Policy Implications ◽  
Debit Card ◽  
Quality Of Institutions ◽  
Domestic Credit ◽  
Asean Countries

Financial inclusion becomes a priority concern with governments in ASEAN countries such as reduce the  lack  of  access  for  public  to  formal  financial  institutions.  Moreover,  there  is  an  empirical  gap  of linkages between institutions and financial inclusion. Thus, the study aims to estimate the effect of institutions on dynamic financial inclusion. Three financial inclusion indicators are employed, namely: debit card ownership, credit card ownership, and domestic credit to GDP ratio. Institutional indicators consist of six indicators following world governance indicators. The research observations are about 88 consisting of cross-sections were eight of ASEAN countries and the time series was 2008-2018. Indeed, a dynamic panel data was employed. In general, the findings exhibit that FEM is the appropriate model under Hausman test. Specifically, debit card ownership and credit card ownership were determined by voice and accountability, and rule of law while domestic credit to GDP ratio was determined by some indicators of institutions such as voice and accountability, political stability, regulatory quality, and control of corruption. Hence, the policy implications were directed to improve the quality of institutions both country and ASEAN levels. The high quality of institutions will stimulate the acceleration and expansion of financial inclusion in ASEAN countries.

scholarly journals СОЦИАЛЬНЫЙ СТАТУС ТРУДОВОГО МИГРАНТА В ЧУЖОЙ СТРАНЕ И ПРОБЛЕМА РАДИКАЛИЗАЦИИ

World Science ◽  
2018 ◽  
Vol 3 (7(35)) ◽  
pp. 22-27
Author(s):  
Саида Арифханова ◽  
Султанова Лилия
Keyword(s):  
National Security ◽  
Ethnic Minorities ◽  
Asian Immigrants ◽  
Unskilled Labor ◽  
Labor Migrants ◽  
Central Asian

Extremism is one of the most real contemporary threats to the national security of any country. Combating extremism involves understanding the factors and conditions of its occurrence. The solution of this problem from the standpoint of preventing of the emergence of extremist manifestations is related in the need of considering the various types of extremism. As a matter of fact, the process of recruitment and radicalization also takes places among the Central Asian immigrants in Russia. The youth, unskilled labor migrants, criminals and ethnic minorities are the potential recruits.

scholarly journals Understanding Financial Inclusion in Vietnam

2019 ◽  
Vol 10 (3) ◽  
pp. 382
Author(s):  
Tran Hung Son ◽  
Nguyen Thanh Liem ◽  
Huynh Thi Ngoc Ly
Keyword(s):  
Income Group ◽  
Personal Income ◽  
Financial Inclusion ◽  
Policy Implications ◽  
Informal Credit ◽  
Savings Accounts ◽  
Analytical Results ◽  
The World

The objective of this paper is to analyze the factors that affect the financial inclusion in Vietnam using the World Bank's Global Findex dataset. Analytical results show that income affects the use of official accounts and official savings. Education is positively correlated with official accounts and official savings, but is negatively correlated with the use of formal credit. Age influences official savings and the use of formal credit and this relationship is nonlinear. Sex does not impact the use of official and official savings accounts. However, being a woman tends to use formal financial channels more. The reason for not owning official accounts of individuals in Vietnam is mainly subjective (related to personal income). Being a woman and being older are less likely to use informal credit, while the lowest income-group people tend to use informal credit. From the results of this research, some policy implications are outlined to promote financial inclusion in Vietnam.

Financial inclusion and bank stability controversy: Evidence from South Asian region

2020 ◽  
Vol 07 (04) ◽  
pp. 2050038
Author(s):  
Muhammad Amir Alvi ◽  
Amir Rafique ◽  
Khurram Shehzad
Keyword(s):  
South Asian ◽  
Banking System ◽  
Financial Inclusion ◽  
Policy Implications ◽  
Bank Stability ◽  
Substantial Growth ◽  
Asian Region ◽  
Using Data ◽  
The Impact ◽  
South Asian Region

Despite a substantial growth in efficiency and profitability, South Asian region’s well-established banking system is likely to be incapable to grasp wide sections of the population, particularly the deprived ones. Numerous studies revealed that financial inclusion impact bank stability, but no significant empirical study has been made on the economies of South Asian region. The aim of the study is to explore the impact of financial inclusion on bank stability across South Asian region using data from 88 commercial banks from four economies (Bangladesh, India, Pakistan and Sri Lanka) over the period of 2012–2018. Results using two-step system GMM suggest that an increase in financial inclusion enhances bank stability across economies of South Asian region. This study contains some significant policy implications to generate real opportunities for financial inclusion to improve bank stability.

FINANCIAL INCLUSION, RATHER THAN SIZE, IS THE KEY TO TACKLING INCOME INEQUALITY

2018 ◽  
Vol 63 (01) ◽  
pp. 167-184 ◽  
Author(s):  
DAVID MARTÍNEZ TURÉGANO ◽  
ALICIA GARCÍA HERRERO
Keyword(s):  
Economic Development ◽  
Income Inequality ◽  
Low Income ◽  
Significant Degree ◽  
Financial Inclusion ◽  
Policy Implications ◽  
Key Factors ◽  
Broad Definition ◽  
Data Limitations ◽  
Definition Of

In this paper, we assess empirically whether financial inclusion contributes to reducing income inequality when controlling for other key factors, such as economic development and fiscal policy. We conclude that financial inclusion contributes to reducing income inequality to a significant degree, while the size of the financial sector does not. Although our results are still preliminary and constrained by data limitations, they still bear significant policy implications. More specifically, fostering financial inclusion has one more important by-product, which had hardly been analyzed yet, namely reducing income inequality. More specifically, given the broad definition of financial inclusion used in our analysis, promoting financial inclusion implies facilitating the use of credit to low-income households, as well as granting credit to small and medium-sized enterprises.

scholarly journals Does Islamic Banking Augment Financial Inclusion in Pakistan? A Reinforcement Analysis

2020 ◽  
Vol 6 (4) ◽  
pp. 739-758
Author(s):  
Muhammad Hanif Akhtar ◽  
Imran Sharif Chaudhry ◽  
Muhammad Ramzan Sheikh
Keyword(s):  
Public Policy ◽  
Financial Inclusion ◽  
Policy Implications ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Panel Ardl ◽  
Ardl Approach ◽  
Specific Factors ◽  
Bank Specific Factors

This study spells out the role of financial inclusion (FI) to accelerate the efficiency of Islamic banks in Pakistan for the period of 2007 to 2016. It examines the effect of a specially developed broad-based FI index on technical efficiency of Islamic banks through panel ARDL approach along with to explore the macroeconomic as well as bank-specific factors of efficiency. The findings exhibit the possible connection between Islamic banking and financial inclusion in Pakistan. The study offers a variety of useful policy implications for public policy towards effective progress on the National Financial Inclusion Strategy in the country.

scholarly journals FINANCIAL INCLUSION AND MACROECONOMIC STABILITY IN EMERGING AND FRONTIER MARKETS

2019 ◽  
Vol 14 (02) ◽  
pp. 1950008 ◽  
Author(s):  
ANH THE VO ◽  
LOAN THI-HONG VAN ◽  
DUC HONG VO ◽  
MICHAEL MCALEER
Keyword(s):  
Small Businesses ◽  
Financial Stability ◽  
Optimal Level ◽  
Output Growth ◽  
Financial Inclusion ◽  
Policy Implications ◽  
Threshold Estimation ◽  
Bank Branches ◽  
Financial Products ◽  
Macroeconomic Stability

Financial inclusion, being considered as a key enabler to reducing poverty and boosting prosperity in emerging and frontier markets such as Vietnam, is the process in which individuals and small businesses are provided with an access to useful and affordable financial products and services. The extant literature on the empirical evidence regarding the contribution of financial inclusion to macroeconomic stability is mixed. This paper investigates the linkages between financial inclusion and macroeconomic stability, which has not yet been thoroughly examined in the literature, for 22 emerging and frontier economies from 2008 to 2015, with particular focus on a potential optimal level. Using the panel threshold estimation technique, the empirical findings show that financial inclusion, as approximated by the growth rate in the number of bank branches over 100,000 account holders, is found to enhance financial stability under a certain threshold. Financial inclusion is also found to be of benefit to maintaining stable inflation and output growth. Policy implications are also discussed on the basis of the important empirical findings.

scholarly journals Status and Challenges of Financial Inclusion: An Evidence from Rural Gujarat

2019 ◽  
Vol 1 (5) ◽  
Author(s):  
Jeniskumar Chauhan ◽  
Yogesh C. Joshi
Keyword(s):  
Rural Areas ◽  
Financial Services ◽  
Urban Areas ◽  
Policy Formulation ◽  
Financial Inclusion ◽  
Policy Implications ◽  
Current Status ◽  
Primary Data ◽  
Bottom Of The Pyramid ◽  
Programme Implementation

The benefits of economic development must reach to the bottom of the pyramid population. Therefore, it is imperative that population in rural areas is brought in the formal financial system in an economy like India. People whose living in rural or semi urban areas are deprived and underprivileged to get necessary formal financial products and services almost in all developing countries like India. Those living in rural areas still find it difficult to avail appropriate financial services in time, which act as an impediment in their effort to lead a healthy and better life. In any part of country supplying financial services to this vast and underprivileged segment of society is a challenging task. The paper is an attempt to study status of challenges of financial inclusion in selected rural areas of Gujarat. This study is intended to analyze current status of demand and supply side barriers of financial inclusion in selected rural areas of Gujarat state. The efforts for financial inclusion, through policy formulation and programme implementation will be studied and an attempt will be made to identify challenges in promoting financial inclusion in rural areas of Gujarat. The study will be based on primary data, Secondary data have also been used to substantiate results and identify government efforts in financial inclusion. Collected data have been analyzed using frequency analysis, percentage and use of SPSS. The conclusion will be used to suggest policy implications as well.

scholarly journals DRIVERS OF FUTURE SAVINGS OF MALAYSIAN HOUSEHOLDS

2021 ◽  
Vol 3 (Number 1) ◽  
pp. 1-11
Author(s):  
Nor Hayati Ahmad ◽  
Asish Saha ◽  
Hock Eam Lim ◽  
Muhammad Muhaizam Musa ◽  
Goh Yeok Siew
Keyword(s):  
Correlation Analysis ◽  
Peninsular Malaysia ◽  
Education Level ◽  
Financial Inclusion ◽  
Descriptive Statistics ◽  
Policy Implications ◽  
Demographic Parameters ◽  
Financial Security ◽  
Seemingly Unrelated Regressions ◽  
Physical Assets

The households’ savings in Malaysia have shown a deteriorating trend that negatively impacts their financial security. The Financial Inclusion and Capability Study of BNM (2016) indicates that merely 6 percent of Malaysians could survive for more than six months and 18 percent up to three months if they lose their main source of income. Thus, it is imperative to examine the drivers of future savings of Malaysian households. A sample of 1,106 bank customers in three cities of peninsular Malaysia was recruited, and the descriptive statistics, correlation analysis, and Seemingly Unrelated Regressions (SUR) were employed. The results reveal that about 25 percent of households are not likely to make any changes in their savings profile in various financial and physical assets. The drivers of future saving are found to be socio-demographic parameters, such as age, education level, the number of working members in the household, and income, and other parameters, such as the percentage of income saved, and the period of the saving plan, which have a significant relationship with the change in future savings of the households. The policy implications of the findings are also presented.

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