Financial Inclusion, Education, and Regulation in the Philippines
Llanto, Gilberto M. | August 2015
Abstract
Establishing financially inclusive ecosystems for low-income clients, including small and medium enterprises, has become a rising global concern. The Consultative Group to Assist the Poor and the World Bank estimate that around 2.7 billion adults worldwide do not have access to credit, insurance, or savings with a bank or other formal institution. Several studies have argued that financial inclusion empowers the poor to manage their finances and reduce their vulnerability to financial distress, debt, and poverty. The key issues are why formal financial systems are not inclusive, and how they can be made inclusive of the poor. In the Philippines, the government has identified financial inclusion as an important strategy for inclusive growth. This paper discusses the current status of financial inclusion, education, and regulation in the Philippines and measures to foster financial inclusion. The primary policy challenge faced by the government is defining its role in creating the broad and interconnected ecosystems needed for safe and efficient product delivery to the poor.
Citation
Llanto, Gilberto M.. 2015. Financial Inclusion, Education, and Regulation in the Philippines. © Asian Development Bank Institute. http://hdl.handle.net/11540/9659.Keywords
Alleviating Poverty
Anti-Poverty
Extreme Poverty
Fight Against Poverty
Global Poverty
Health Aspects Of Poverty
Indicators Of Poverty
Participatory Poverty Assessment
Poverty Eradication
Poverty Analysis
Poverty In Developing Countries
Poverty Reduction Efforts
Urban Poverty
Public Financial Management
Financial System
Financial Statistics
Foreign Direct Investment
Foreign and Domestic Financing
Development Indicators
Environmental Indicators
Economic Indicators
Educational Indicators
Demographic Indicators
Health Indicators
Disadvantaged Groups
Low Income Groups
Socially Disadvantaged Children
Rural Conditions
Rural Development
Social Conditions
Urban Development
Urban Sociology
Pension Funds
Mutual Funds
Social Equity
Financial Aspects
Fiscal Policy
Poor
Economic forecasting
Health expectancy
Social groups
Political participation
Distribution of income
Inequality of income
Developing countries
Rural community development
Mass society
Social change
Social policy
Social stability
Population
Sustainable development
Peasantry
Urban policy
Urban renewal
Pension plans
Individual retirement accounts
Employee pension trusts
Investment management
Investments
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