Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/212796
Authors: 
Fungáčová, Zuzana
Weill, Laurent
Year of Publication: 
2014
Series/Report no.: 
BOFIT Discussion Papers No. 10/2014
Abstract: 
We use data from the World Bank Global Findex database for 2011 to analyze financial inclusion in China, including comparisons with the other BRICS countries. We find a high level of financial inclusion in China manifested by greater use of formal account and for-mal saving than in the other BRICS. Financial exclusion, i.e. not having a formal account, is mainly voluntary. The use of formal credit is however less frequent in China than in the other BRICS. Borrowing through family or friends is the most common way of obtaining credit in all the BRICS countries, but other channels for borrowing are not very commonly used by individuals in China. We find that higher income, better education, being a man, and being older are associated with greater use of formal accounts and formal credit in China. Income and education influence the use of alternative sources of borrowing. Overall financial inclusion does not constitute a major problem in China, but such limited use of formal credit can create a challenge for further economic development.
Subjects: 
financial inclusion
financial institutions
China
JEL: 
G21
O16
P34
Persistent Identifier of the first edition: 
ISBN: 
978-952-6699-80-6
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.