| By: |
Ozili, Peterson K |
| Abstract: |
This article presents some criticisms of financial inclusion. It notes that
(i) financial inclusion is an invitation to live by finance and leads to the
financialisation of poverty; (ii) some of the benefits of financial inclusion
disappears after a few years; (iii) financial inclusion ignores how poverty
affects financial decision making, (iv) it promotes digital money which is
difficult to understand, (v) financial inclusion promotes the use of
transaction accounts; (vi) digital money is difficult to understand; and that
(vii) some financial inclusion efforts bear a resemblance to a campaign
against having cash-in-hand. This study will help policymakers in their
assessment of the economic, social, political and cultural factors that hinder
financial inclusion as well as the consequence of financial inclusion for
society. For academics, this study will provide a critical perspective to
on-going financial inclusion debates in the large positivist literature on
financial inclusion |
| Keywords: |
: financial inclusion, criticism, poverty, digital money, digital finance, financial literacy, financial education. |
| JEL: |
O1 O17 |
| Date: |
2020 |
| URL: |
http://d.repec.org/n?u=RePEc:pra:mprapa:101813&r=all |