Economists have long argued that inclusive and well-developed financial systems play a critical role in fostering economic growth and development. However, the question of what is the best means of achieving financial development has long remained a puzzle in the development finance literature....

Many economists argue that financial market development plays a role in fostering economic development. However, the question of how to extend financial access to the unbanked in underdeveloped countries has long remained a puzzle in the development finance literature. Much of the debate thus...