Financial Inclusion, Productivity Shocks, and Consumption Volatility in Emerging Economies

How does access to finance impact consumption volatility? Theory and evidence from advanced economies suggests that greater household access to finance smooths consumption. Evidence from emerging markets, where consumption is usually more volatile...

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Bibliographic Details
Main Authors:	Bhattacharya, Rudrani, Patnaik, Ila
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2015
Subjects:	GROWTH RATES MONETARY POLICY DEPOSIT FINANCIAL SERVICES FOREIGN CAPITAL FOREIGN DEBT DEPOSITS CAPITAL ACCUMULATION STOCK STRUCTURAL CHANGE DISPOSABLE INCOME INCOME INTEREST EMERGING ECONOMIES INTEREST RATE REAL GDP EXCHANGE DISCOUNT RATE MACROECONOMIC POLICY BANKING SERVICES INTERNATIONAL FINANCIAL MARKETS LIQUIDITY DEVELOPING COUNTRIES EXPORTS ELASTICITY POLITICAL ECONOMY DEVELOPING ECONOMIES INTERNATIONAL LABOUR ORGANIZATION ECONOMIC RELATIONS INTERNATIONAL BUSINESS WORLD DEVELOPMENT INDICATORS VARIABLES CAPITAL STOCK INPUTS FINANCIAL INTEGRATION SAVINGS INSTRUMENTS DEVELOPING COUNTRY TRENDS ECONOMIC OUTLOOK CENTRAL BANK SMOOTHING CONSUMPTION DEVELOPMENT ADVANCED COUNTRIES TRADE BALANCE TOTAL FACTOR PRODUCTIVITY SAVINGS DEVELOPMENT ECONOMICS INFORMAL ECONOMY COMMERCIAL BANK ADVANCED ECONOMIES CAPITAL CONTROL RESERVE BANK VOLATILITIES PRODUCTIVITY INTEREST RATES EMERGING MARKET NET EXPORTS DEBT FINANCIAL FLOWS PUBLIC FINANCE OPEN ECONOMY SOCIAL PROTECTION FINANCIAL REFORMS REAL INTEREST RATE AGENCY COSTS UTILITY FINANCIAL SYSTEM LIBERALIZATION BANK DEPOSITS FLOWS OF CAPITAL EMERGING MARKETS PRODUCTIVITY GROWTH CONSUMPTION GROSS FIXED CAPITAL FORMATION CAPITAL CONTROLS CREDIT CONSTRAINTS EMERGING MARKET BUSINESS CAPITAL FINANCIAL TRANSACTIONS VOLATILITY HOME COUNTRY FINANCIAL CRISIS FUTURE VALUE FOREIGN DIRECT INVESTMENT CREDIT FIXED CAPITAL MACROECONOMICS PERMANENT INCOME ECONOMIC FLUCTUATIONS ECONOMY AGRICULTURE CONSUMERS CAPITAL FLOWS EQUATIONS MEASUREMENT BENCHMARK PRODUCTION FUNCTION TERMS OF CAPITAL OUTPUT CLOSED ECONOMY BANK ACCOUNTS LONG-TERM INVESTMENTS EXPOSURE BUSINESS CYCLES PERMANENT INCOME HYPOTHESIS ECONOMIC DEVELOPMENT TRADE GDP GOODS THEORY EMERGING ECONOMY FINANCIAL DEVELOPMENT FINANCIAL MARKET GROWTH RATE INVESTMENT BOND RANDOM WALK COMMERCIAL BANKS SHARE FINANCIAL MARKETS BANKING FINANCIAL ASSETS INVESTMENTS CAPITAL ACCOUNTS EXCHANGE RATE FINANCIAL REFORM TOTAL OUTPUT FINANCIAL SECTOR OPEN ECONOMIES COMMODITY FINANCIAL CONSTRAINTS CAPITAL ACCOUNT PRICES FINANCIAL SECTOR DEVELOPMENT DEVELOPMENT POLICY
Online Access:	http://documents.worldbank.org/curated/en/2015/06/24582431/financial-inclusion-productivity-shocks-consumption-volatility-emerging-economies http://hdl.handle.net/10986/22161

Internet

http://documents.worldbank.org/curated/en/2015/06/24582431/financial-inclusion-productivity-shocks-consumption-volatility-emerging-economies
http://hdl.handle.net/10986/22161

Financial Inclusion, Productivity Shocks, and Consumption Volatility in Emerging Economies

Internet

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