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