Financial Inclusion and Inclusive Growth : What Does It Mean for Sri Lanka?

Arandara, Rathnija ; Gunasekera, Shanuki

World Bank, Washington, DC

关键词: ACCESS TO FINANCE;    FINANCIAL INCLUSION;    INCLUSIVE GROWTH;    GENDER;    FORMAL ECONOMY;   

DOI  :  10.1596/1813-9450-9204
RP-ID  :  WPS9204

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This paper uses data from the NationalFinancial Inclusion Survey 2018 to understand thedeterminants of financial inclusion in Sri Lanka and theirsignificance for inclusive growth. The findings highlightthat gender, education, and formal employment are importantdeterminants of financial inclusion in the country. Theresults indicate that being a male, having better education,and having formal employment increase a person's accessto, and usage of, formal finance. The results also suggestthat despite high levels and gender parity in education, SriLankan women seem to access more informal finance (and lessformal finance) compared with men. There is a general lackof familiarity and low use of digital finance among women.Comparative analysis using the World Bank Group’s GlobalFinancial Inclusion (Global Findex) Database 2017 indicatesthat although Sri Lanka leads its regional peers in accessto finance, it lags its more aspirational East Asiancounterparts in usage of savings and credit products as wellas digital finance. The paper's findings complementrecent policy initiatives such as the National FinancialInclusion Strategy for Sri Lanka. The findings also help indesigning targeted actions to address the remaining gaps infinancial inclusion in Sri Lanka.