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Financial Inclusion and Stability: Review of Theoretical and Empirical Links

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dc.contributor.authorČihák, Martin
dc.contributor.authorMare, Davide Salvatore
dc.contributor.authorMelecky, Martin
dc.contributor.authorMare, Davide S.
dc.date.accessioned2023-07-19T19:21:08Z
dc.date.available2023-07-19T19:21:08Z
dc.date.issued2020-12-02
dc.description.abstractThis paper reviews the literature on financial stability and financial inclusion—two broad objectives of financial policy that may be mutually dependent. The review suggests the possible co-dependence of stability and inclusion. We build on this theoretical motivation by exploring stylized facts (correlations) obtained from data sets that have been widely used in the literature on financial inclusion and stability. The empirical correlations suggest that, on average, financial inclusion and stability correlate negatively, but the correlations vary systematically across individuals, firms, and country contexts. Depending on the financial instrument and stability measure, positive correlations are also likely. These associations reflect some findings in the existing literature, but also point to knowledge gaps that can be addressed by future research.en
dc.identifier.citationWorld Bank Research Observer
dc.identifier.doi10.1596/40045
dc.identifier.issn0257-3032 (print)
dc.identifier.issn1564-6971 (online)
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/40045
dc.language.isoen_US
dc.publisherPublished by Oxford University Press on behalf of the World Bank
dc.relation.ispartofseriesWorld Bank Research Observer
dc.rightsCC BY-NC-ND 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/igo
dc.subjectFINANCIAL INCLUSION
dc.subjectFINANCIAL STABILITY
dc.subjectTRADE-OFFS AND SYNERGIES
dc.subjectLITERATURE REVIEW
dc.subjectEMPIRICAL ANALYSIS
dc.subjectADVANCED, EMERGING, AND DEVELOPING ECONOMIES
dc.titleFinancial Inclusion and Stabilityen
dc.title.subtitleReview of Theoretical and Empirical Linksen
dc.typeJournal Article
dspace.entity.typePublication
okr.associatedcontenthttps://academic.oup.com/wbro/article/36/2/197/6017253 Journal website (version of article)
okr.crossref.titleFinancial Inclusion and Stability: Review of Theoretical and Empirical Links
okr.date.disclosure2023-07-19
okr.date.doiregistration2025-04-07T08:33:06.395355Z
okr.date.doiregistration2025-04-08T16:15:34.420540Z
okr.date.doiregistration2025-04-09T02:47:45.782075Z
okr.date.doiregistration2025-04-16T04:27:04.332579Z
okr.doctypePublications & Research::Journal Article
okr.guid099047109122390725
okr.identifier.doi10.1093/wbro/lkaa006
okr.identifier.doihttp://dx.doi.org/10.1596/40045
okr.journal.nbpages197–233
okr.language.supporteden
okr.region.geographicalWorld
okr.topicFinance and Financial Sector Development::Finance and Development
okr.volume36 (2)
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