Reaching the underbanked and unbanked in subsistence markets at the nexus of the formal and informal economy

Reaching the underbanked and unbanked in subsistence markets at the nexus of the formal and informal economy
Document type
Conference Paper
Author(s)
Holt, Diane; Littlewood, David
Publisher
British Academy of Management
Date of publication
9 September 2014
Series
British Academy of Management Conference Proceedings 2014
Subject(s)
Management & leadership: including strategy, public sector management, operations and production
Collection
Business and management
Material type
Reports

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[Authors' original abstract]

It is estimated that globally over 2 billion people do not have a bank account, with many more in the developed and developing worlds ‘under-banked’, meaning they have limited access to financial services. Reaching the unbanked and underbanked with appropriate financial services is widely recognised as critical for future global economic growth and prosperity. Drawing upon multidimensional understandings of poverty, and framed by literature on poverty pools, traps and cycles, this paper explores the use of financial products and services in the developing world and critically reflects on their potential role in poverty alleviation and wider sustainable development. Discussions are illustrated with reference to qualitative empirical research undertaken in East and Southern Africa, and a sense-making of the lived financial experiences of low income individuals, households and communities.

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