We propose a monetary model with endogenous credit market participation to study the impact of financial inclusion on inequality and welfare. We find that consumption inequality results from differences in agents' decision to access financial services. This heterogeneity generates a pecuniary...

Government leaders around the world are designing national strategies to improve financial inclusion for populations traditionally excluded from the financial markets. Financial literacy is a key tool being used to bring economically vulnerable populations into the financial mainstream. Data...

Financial inclusion is perceived as an enabler of poverty reduction around the world and today is in agenda of all policy makers in both developed and developing countries. In order to emphasize the importance of financial inclusion and provide an insight to the level of financial inclusion...

Micro, small, and medium-sized enterprises (MSMEs) play a significant role in the Indonesian economy, however most MSMEs have difficulties in accessing finance. The Credit Guarantee Scheme (CGS) is a popular program for guaranteeing bank lending to MSMEs by the government. The objective of this...