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Despite the commitments of the development community toward broader access to finance, financial inclusion rates worldwide are rather unsatisfactory. To date, around two billion adults do not have access to basic financial services such as savings and checking accounts. Attempting to bridge such gap between policy objectives and outcomes, several economists have probed the determinants of financial inclusion. This paper contributes to the debate by investigating the role played by financial regulation. First, the paper proposes a broad index of regulatory quality for financial inclusion, emphasizing the role of nontraditional delivery models, for example, branchless banking, and actors, for example, nonbank lending institutions. Second, the paper tests the relationship between regulatory quality and financial inclusion outcomes. The analysis finds that in countries where regulatory quality is within the top quartile, individuals are 12.4 percent more likely to have an account at a financial institution with respect to bottom quartile countries.
Access to finance --- Banking --- Banks and banking reform --- Broad index --- Finance and financial sector development --- Financial inclusion --- Financial services --- Financial structures --- Rates --- Regulation --- Rural development --- Rural microfinance and smes
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Financial market imperfections remain pervasive in developing countries, constraining potentially profitable investment decisions, especially for rural smallholder farmers. Warrantage is an innovative model of rural finance with the potential to overcome credit, storage, and commitment constraints through a localized inventory credit scheme. Exploiting random variations in household access to warrantage and intensity of access across villages, this paper studies the direct impact of this scheme on beneficiaries as well as its spillover effects. Take-up of storage is high (94 percent), while credit take-up is moderate (38 percent). Households with access to warrantage primarily store sorghum and maize and sell their production over an extended period of time, earning higher average prices and resulting in higher sales revenue (
Access to Finance --- Africa Gender Policy --- Agricultural Investment --- Agricultural Sector Economics --- Agriculture --- Agriculture and Farming Systems --- Crops and Crop Management Systems --- Finance and Financial Sector Development --- Gender Innovation Lab --- Inventory Credit --- Rural Development --- Rural Finance --- Rural Microfinance and SMEs --- Storage --- Warrantage
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