Using administrative account level data, we study the largest financial inclusion program in India that led to 255 million new bank account openings. About 77% of these accounts maintain a positive balance. While the initial usage remains quite infrequent, it gradually converges to that of...

Financial knowledge is essential for every individual, due to the complexity of the financial structure it becomes essential for everyone to manage their cash effectively. Because less financial knowledge consumers are confused while deciding that which product and services are most profitable....

Financial innovation in the form of new delivery channels, products, and providers has helped push out the frontier of access to finance and thus increase the bankable and banked population. Mobile money and crowdfunding platforms are prime examples for this. The same financial innovation has...

This paper examines the current situation concerning financial inclusion and financial literacy in Kazakhstan and future prospects. Since 2000, the financial sector has been developing rapidly, driven by petrodollars, which has led to higher financial inclusion. However, the improvement in...

The financial technology (fintech) sector is revolutionizing traditional financial practices, yet little information exists on the users of these services. In this study, we examine untapped information from the 2015 National Financial Capability Study and the 2016 GFLEC Mobile Payment Survey to...

The financial crisis has revealed fatal institutional and structural deficits at the finance market. Politics has reacted to the financial crisis with a sea of legal bills and regulations. But all regulating efforts are merely system-imminent reparation measures and do not solve the core...

The current focus of financial policy measures in nearly all G20 countries is to rescue commercial banks by running high bail-out programs. If banks can be bailed-out, or rescued from their present plight, everything will be getting better - that is, by large, the self-proclaimed belief, or...

In a production price framework, a two-sectoral gravitation process with cross-over adjustments of prices and quantities is advanced. To overcome an inconsistency in the treatment of fixed capital in disequilibrium, the socio-technological input coefficients are assumed to vary with the sectoral...

This paper studies the role that market structure plays in affecting the diffusion of electronic banking. Electronic banking (and electronic commerce more generally) reduces the cost of performing many types of transactions for firms. The full benefits for firms from adoption, however, only...

People often disregard the need for individual savings for old-age although a decreasing rate of birth and an increasing life expectancy make it necessary to save additional money for retirement by using private or occupational pensions. Due to a lack of financial literacy and a variety of...