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on Financial Literacy and Education |
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Issue of 2021‒10‒25
three papers chosen by |
| By: | Lael Brainard |
| Date: | 2021–10–13 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedgsq:93163&r= |
| By: | Seo, Eunsook (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Yoo, Kyeongwon (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)) |
| Abstract: | Since the 2008 global financial crisis, including the recent COVID 19 pandemic, low interest rates and low economic growth have continued around the world. In spite of this low interest rate trend, as the economic downturn prolongs, there is a situation of concern called the “new normal” of low interest rates and low economic growth, and low prices. In this new normal economic structure, the rapid progress of aging is increasing the necessity and desire for asset accumulation. In addition, digital finance such as Fin-tech with the evolution of the underlying technologies and the emergence of new technologies has replaced or improved many functions of existing finance in the advent of the 4th industrial revolution era. These changes are expected to bring benefits to the individual and corporate finance sectors, which have been subject to financial inclusion. On the other hand, digital finance, which is changing at such a rapid pace, may further isolate some individuals who were in the blind spot of finance, such as the elderly, and a support system for this is an issue that should be included in the policy of financial inclusion in each country. In this paper we find that Asian countries like other regions have achieved tangible results in financial inclusion while achieving financial deepening. When looking through various financial inclusion indicators such as holding accounts and loans, ATMs, and bank branches, the Asian region has achieved similar or superior performance to other regions. Compared to the income level, the growth of financial inclusion in Asia was found to be attributable to better performance in middle-income countries than in other similar regions. High-income countries in Asia are performing somewhat lower than similar peer groups in other regions, but this seems to be due to stagnation of growth. More seriously, financial inclusion in low-income countries in Asia is not appearing faster than in other income groups. In Asian countries there appears to be a wide variation in regional financial inclusion. However, Asian countries are expanding around the younger generation in the use of ICT technology that is helpful in spreading financial inclusion so if digital inclusive finance centered on Fintech is properly applied, Asian countries will become a new model for digital financial inclusion. However, since the gap in the use of Fintech in the region is large, how to fill this gap is being raised as an important policy task for each country as well as the whole region. (the rest omitted) |
| Keywords: | Fintech; Digital Finance; Financial Inclusion; Comparative Studies of Countries |
| JEL: | O33 |
| Date: | 2020–12–30 |
| URL: | http://d.repec.org/n?u=RePEc:ris:kiepas:2020_003&r= |
| By: | Faizan Khan Sherwani (Jamia Hamdard University New Delhi, India Author-2-Name: Sanaa Zafar Shaikh Author-2-Workplace-Name: University of Houston Taxas, U.S.A Author-3-Name: Zoya Zafar Shaikh Author-3-Workplace-Name: University of Houston Taxas, U.S.A Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:) |
| Abstract: | " Objective - The purpose of this study is to examine the impact of interest-free microfinance arrangements on the livelihood of women in India. Studies reveal that the existence of interest-free microfinance, as well as its outcome on the livelihood of weaker sections of society (particularly women), overall improved their well-being. Methodology – Exploratory and cross-section analysis is used to understand the satisfaction level among non-conventional microfinance arrangements. Survey of non-conventional microfinance beneficiaries exposes the status of women's' earnings, financial literacy, skills development, employment generation, household savings and poverty alleviation. Findings – Interest-free microfinance products like Zakat, Sadaqah, and KarzeHasna will successfully meet micro-financing core objectives of poverty alleviation, women empowerment, gender equality, prosperity, and employment. The analysis showed that the performance of interest-free microfinance consumers is better than conventional microfinance consumers. Novelty – This study is an original which is based on the demographic, sociocultural and regulatory framework of interest-free micro finance systems to identify the acceptability in the Indian financial system. The discussions in the study are mainly concerned with the empirical review of the impact and effect of interest-free microfinance on the lifestyle of female microfinance users after obtaining a loan i.e., their income, expenditure, saving, entrepreneurship, consumption, and women participation in earning income in India. Type of Paper - Empirical" |
| Keywords: | Entrepreneurship; Livelihood; Education Development; Living Standards; Women Empowerment |
| JEL: | G20 G21 |
| Date: | 2021–09–30 |
| URL: | http://d.repec.org/n?u=RePEc:gtr:gatrjs:jfbr188&r= |