Challenging the financialization of remittances agenda through Indigenous women’s practices in Oaxaca

2021 ◽  
pp. 0308518X2097718
Author(s):  
Araby Smyth
Keyword(s):  
Economic Development ◽  
Financial Services ◽  
Financial Inclusion ◽  
Recent Attempt ◽  
Ethnographic Research ◽  
Global Development ◽  
Feminist Scholarship ◽  
Global North ◽  
Remittance Flows ◽  
Development Agendas

Remittances, money sent by migrants to their communities of origin, are increasingly being linked to global financial inclusion in what is being called the “financialization of remittances.” This is the most recent attempt to divert remittances from “non-productive” money to savings and investments that can be mobilized for economic development. The literature that accompanies this strategy focuses on the responsibility of individuals to use remittances productively and invest wisely, and there is often an implied – and gendered - social component: if women link remittances to financial services, they will become empowered and lift themselves out of poverty. Based on ethnographic research in an Indigenous village in Oaxaca, Mexico, this paper offers empirics on the effects of remittance flows in women's everyday lives. Feminist scholars have long critiqued the universalism and abstractness of global development agendas, particularly those that preclude gender, and emanate from the Global North. Joining these critical voices and mobilizing postcolonial and feminist scholarship, this paper challenges the individualist logics and dichotomies underpinning the financialization of remittances agenda: that remittance spending is either productive or not and that women are empowered or not through linking remittances to finance.

scholarly journals Banking on refugees: Racialized expropriation in the fintech era

2020 ◽  
Vol 52 (8) ◽  
pp. 1498-1515 ◽  
Author(s):  
Ali Bhagat ◽  
Leanne Roderick
Keyword(s):  
Financial Services ◽  
Small Businesses ◽  
Capital Accumulation ◽  
Financial Inclusion ◽  
Disruptive Technology ◽  
Viable Option ◽  
Credit Access ◽  
Financial Products ◽  
Private Citizens ◽  
Global North

Fintech and digital financial services involve the delivery of financial products and services through technology. Fintech companies are part of a financial lending infrastructure claiming to offer an alternative to ‘big banks’, and are often touted as digitally disruptive technology that is rapidly reshaping financial inclusion agendas and improving the lives of the poor. For many refugees living in camps and informal settlements in Kenya, fintech is often the only viable option for credit or microfinance aid. While refugees are often excluded from credit, the spread of fintech as a solution for direct peer-to-peer aid transfers from the Global North to refugees has resulted in the uneven distribution of credit access and livelihood support. Through fintech, private citizens and groups in the Global North are able to disrupt and subvert refugee assistance, deeming some worthy of aid while others face ongoing exclusion. While fintech remains a hopeful source of greater efficiency and empowerment, the direct transfer of aid money masks profit and corporate power by only extending assistance to those refugees who are appropriately entrepreneurial, that is to say those who will start small businesses and pay back their loans. This paper argues that processes of financial inclusion carried out by and through fintech are still distinguished largely by exclusion. In so doing, this paper highlights a theoretical position that refugee governance is embedded in racial forms of capital accumulation and expropriation.

scholarly journals USO DE LOS SERVICIOS FINANCIEROS. ESTUDIO EMPÍRICO EN ESTUDIANTES UNIVERSITARIOS

2017 ◽  
Vol 2 (1) ◽  
pp. 581
Author(s):  
Milka Elena Escalera-Chávez ◽  
Esmeralda Tejada-Peña ◽  
Arturo García-Santillán
Keyword(s):  
Economic Development ◽  
Empirical Study ◽  
Financial Services ◽  
Financial Inclusion ◽  
Public And Private ◽  
Banking Services ◽  
Frequency Of Use ◽  
Banking Institutions ◽  
Upper Level ◽  
Estudiantes Universitarios

Abstract.USE OF FINANCIAL SERVICES EMPIRICAL. STUDY IN UNIVERSITY STUDENTS.The financially included population has access to banking services, hence this insertion favors the economic development of the population, however there are many people who do not use formal financial services, including students. For this reason, the objective of this work was to identify the frequency with which the upper level students of Tuxtepec Oaxaca access the financial services offered by the Banking Institutions. The sample is made up of 800 upper level students who belong to 8 public and private universities in Tuxtepec Oaxaca. The frequency of use of financial services was checked by means of the test. The results show that students use the financial services offered by Banking Institutions. However, it is important to reiterate that some students do not resort to the financial system, this proportion of the population being an area of opportunity for the process of financial inclusion in Mexico.Key Words: Use, Financial Services, University Students.Resumen.La población incluida financieramente accede a los servicios bancarios, de ahí que ésta  inserción favorece el desarrollo económico de la población, sin embargo existen muchas personas que no  utilizan  los servicios financieros formales, incluyendo a los estudiantes. Por este motivo, el objetivo de este trabajo fue identificar la frecuencia con la que los estudiantes de nivel superior de Tuxtepec Oaxaca acceden a los servicios financieros que ofrece las Instituciones Bancarias. La muestra está conformada por 800 alumnos del nivel superior que pertenecen a 8 universidades públicas y privadas de Tuxtepec Oaxaca. Se  comprobó por medio de la prueba t la frecuencia del uso de los servicios financieros. Los resultados muestran que los estudiantes usan los servicios financieros que ofrecen las Instituciones Bancaria. Sin embargo, es importante reiterar que algunos estudiantes no recurren al sistema financiero, siendo esta proporción de la población un área de oportunidad para el proceso de inclusión financiera en México.Palabras Claves: Uso, Servicios Financieros, Estudiantes Universitarios.

Financial Inclusion, P2P Lending, and MSMEs

2022 ◽  
pp. 60-81
Author(s):  
Tulus Tambunan
Keyword(s):  
Economic Development ◽  
Financial Crisis ◽  
Financial Services ◽  
Small And Medium Enterprises ◽  
Asian Financial Crisis ◽  
Aggregate Data ◽  
Financial Inclusion ◽  
Alternative Source ◽  
P2p Lending ◽  
Medium Enterprises

In Indonesia after the Asian financial crisis of 1997–1998, wide reforms were carried out, and “inclusive” economic development were adopted. One component of inclusive economic development is “financial inclusion.” This implies an absence of barriers that might deter micro, small, and medium enterprises (MSMEs) from obtaining financial services. However, the portion of bank credit received by MSMEs is still small. Therefore, financial technology (FinTech) is welcome as an alternative source of funding for MSMEs. This chapter discusses three related issues, namely financial inclusion, MSMEs, and P2P lending. It concludes that Indonesia still has a long way to go to achieve full financial inclusion. This chapter suggests that with the presence of P2P lending, the number of MSMEs, especially MSEs, in Indonesia that have access to formal financing will increase. Even though aggregate data are not available, the interviews with a small number of owners of MSEs who received P2P loans suggest that the presence of P2P lending companies give some benefits for MSEs.

scholarly journals Effects of Financial Dualism and Inclusion on Economic Development in Nigeria

2020 ◽  
pp. 1-13
Author(s):  
G. I. Anyanwu ◽  
P. A. Okere ◽  
N. F. Adioha
Keyword(s):  
Economic Development ◽  
Financial Institutions ◽  
Financial Services ◽  
Qualitative Data ◽  
Banking Sector ◽  
Financial Inclusion ◽  
Least Square ◽  
Primary Sources ◽  
Ordinary Least Square ◽  
Monetary Authorities

This study examined the effects of financial dualism and inclusion on the economic development in Nigeria. Data were obtained principally from primary sources, interviews and questionnaires.  The sample for the study consisted of one hundred (100) respondents randomly selected from shop owners in Eke Ugwu market, in owerri capital territory. The qualitative data were transformed into quantitative form with the use of likert scale. The ordinary least square (OLS) estimation technique was employed to test for relationship in the model. The study revealed a significant relationship between financial inclusion and economic development in Nigeria. The study further revealed that the delivery of quality financial services at affordable price and terms to the generality of the populace especially the disadvantaged and lower income segment of the society is the essence of financial inclusion. This study therefore recommends that the monetary authorities should ensurethat banks offer prompt and timely services. Neck-to-measure services should be produced and made available to customers at affordable prices.  Again, Banks and other financial institutions should design appropriate packages that will assist in collaborating with the informal financial institutions so that the funds so far mobilized by them are integrated into the banking sector. This will reduce the volume of currency outside the banking sector.

scholarly journals Financial inclusion as a factor for socio-economic development

2019 ◽  
Vol 2019 (3) ◽  
pp. 59-77 ◽  
Author(s):  
Kateryna Anufriieva ◽  
Andrii Shkliar
Keyword(s):  
Economic Development ◽  
Financial Market ◽  
Social Relations ◽  
Financial Services ◽  
Financial Inclusion ◽  
Alternative View ◽  
Stage Of Development ◽  
Financial Exclusion ◽  
Socio Economic Development

Paper dwells upon approaches to understanding the concept and role of financial inclusion. It is established that financial inclusion is one of the factors for economic development; the study of the role of financial inclusion among the factors for socio-economic development is substantiated. The evolution of the term “inclusion” has been traced from the area of social processes analysis at the social groups’ level, including various social relations, to the macroeconomic level. It has been revealed that a consistent definition of “financial inclusion” by key standards-setting institutions has been extended by financial market experts: interpretations of the term “financial inclusion” include its definition as “process”, “stage” (of development) or “state” (of development). Authors define the concept of financial inclusion as a process of interaction between financial market entities and financial services’ consumers, which, by providing equal access to financial services, offers a level of participation of financial services’ consumers in the financial relations, which contributes to the sustainability of financial institutions and increase of social welfare. There is an alternative view of the financial inclusion definition through its opposite concept of financial exclusion, which is either voluntary or forced, and is determined by four groups of reasons. It has been found that the most crucial is the need to reduce the fourth group of reasons, which are subject to compulsory exclusion, since this category of users is excluded from the financial system because of regulatory deficiencies or market barriers. Authors analyses consensus offered in the scientific literature regarding the three main aspects of financial inclusion: coverage, use and quality of financial services. Positive factors and risks of financial inclusion development, as well as negative aspects of financial exclusion are highlighted.

scholarly journals The Impacts of Financial Inclusion on Economic Development: Cases in Asian‑Pacific Countries

2019 ◽  
Vol 22 (1) ◽  
pp. 7-16
Author(s):  
Dinh Thi Thanh Van ◽  
Nguyen Ha Linh
Keyword(s):  
Developing Countries ◽  
Economic Development ◽  
Financial Services ◽  
Financial Institution ◽  
Financial Inclusion ◽  
Bank Branches ◽  
Large Numbers ◽  
Domestic Credit ◽  
Asian Pacific ◽  
The Impact

Financial inclusion efforts seek to ensure that all members of an economy can have access to and effectively use appropriate financial services. Improving financial inclusion has become a significant concern for developed and developing countries alike. There are many indicators of financial inclusion, the most elementary of which includes having an account in a financial institution. This paper will evaluate the impact of indicators of financial inclusion on economic development. The result shows that correlations exist between large numbers of bank branches, ATMs, domestic credit in the private sector and the increased rate of development in the economy. People will gain a more prosperous life due to this development. The paper also provides recommendations for the governments of developing countries to improve financial inclusion.

Marketing of Microfinance for Rural Women

2017 ◽  
pp. 153-184
Author(s):  
Pallavi Mathur ◽  
Parul Agarwal
Keyword(s):  
Economic Development ◽  
Transaction Cost ◽  
Rural Women ◽  
Financial Services ◽  
Banking Sector ◽  
Financial Inclusion ◽  
Rural Economic Development ◽  
The Poor ◽  
High Transaction Cost ◽  
Poor Population

Microfinance, the provision of financial services to poor and under-served societies, has emerged as one of the most promising possibilities for stimulating rural economic development through local enterprise. Banking sector in India has proved to be one of the largest sectors in the Indian financial system. Earlier banks restrained from lending to the poor due to high transaction cost and high credit risk involved in dealing with such kind of population. Microfinance programme aims at reaching out to the poor population especially women thus fulfilling the objectives under the financial inclusion.

FINANCIAL INCLUSION IN NORTHEAST INDIA:A SWOT ANALYSIS

2016 ◽  
Vol 12 (1) ◽  
Author(s):  
Deepjyoti Choudhury
Keyword(s):  
Economic Development ◽  
Rural Areas ◽  
Financial Services ◽  
Banking Sector ◽  
Swot Analysis ◽  
Financial Institution ◽  
Northeast India ◽  
Financial Inclusion ◽  
Rural People ◽  
Literacy Rate

Accumulation of human capital has always paved the way for economic development provided the accumulation and savings are organised and structured by a formal credit institution. But regions where majority of the populations reside in rural areas, with low infrastructure and literacy rate, the benefits of a formalised credit institutions have always not been tasted. Timely availability of credit and timely saving of the capital is of great necessity for the wellbeing of weak and deprived section of the population and thereby creating greater economic development. For instance the Credit-Deposit ratio of Northeast India to Rest of India is 35:73, which is a clear indicator of unutilised bank's resources in Northeast India. Financial Inclusion has been thought as an answer to bank the unbanked and bring the weaker sections of society specially the rural people under the umbrella of authorised financial services provided by regulated financial institutions. The technological revolution and the vast use of ICT in banking sector has paved a way for the financial institution and are adopting branchless banking as their strategy. Branchless banking is expected to make their efforts successful towards financial inclusion. In this paper attempt has been made to understand the concept of Branchless banking and how it can be implemented in Northeast India.

INDIVIDUAL’s BEHAVIOR AND ACCESS TO FINANCE: EVIDENCE FROM PALESTINE

2019 ◽  
pp. 1-21
Author(s):  
FADI HASSAN SHIHADEH
Keyword(s):  
Economic Development ◽  
Financial Services ◽  
Empirical Studies ◽  
Financial Inclusion ◽  
Political Climate ◽  
Economic Stability ◽  
Global Institutions ◽  
The Poor ◽  
Financial Infrastructure ◽  
Financial Transactions

Governments and global institutions are working to enhance economic development as a key for sustainability by including disadvantaged people (including the poor, women, youth, and illiterate) in the financial system. This paper uses the World Bank Global Findex Database (2014) for 1000 Palestinians to examine the influence of individual behavior on financial inclusion in Palestine. This study used empirical methods to determine whether individual socioeconomic characteristics influence financial inclusion in Palestine. The results indicated that females were less likely to be included in financial transactions, especially transactions involving borrowing and formal accounts. Further, we learned that borrowing behavior in Palestine leans toward informal sources. Formal institutions have made remarkable efforts to develop an inclusive financial infrastructure in Palestine. However, the country’s unstable political climate continues to impede economic stability and individuals’ motivation to use formal financial resources such as credit. More efforts to specifically encourage youth, the poor, and women to use formal banking could enhance their access to financial services. Adopting Islamic financial services, and online banking would also improve financial inclusion for all of Palestine’s citizens and drive sustainable development. Further, theoretical and empirical studies of Palestine’s economic development are recommended.

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