How Equitable is Access to Finance in Turkey? : Evidence from the Latest Global FINDEX

Access to finance is a key component of poverty reduction, as it enables individuals to make economic decisions that can improve their welfare. The equality of access among different groups in society is also crucial for correctly allocating the po...

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Main Authors:	Azevedo, Joao Pedro, Inan, Osman Kaan, Yang, Judy S.
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2016
Subjects:	DEPOSIT COUNTRY COMPARISONS FINANCIAL SERVICES INFORMAL BORROWING BANK FEES CREDIT CARDS ECONOMIC GROWTH DEPOSITS PEOPLE FINANCING FORMAL FINANCIAL INSTITUTIONS PRINCIPAL ACCOUNT OWNERSHIP BANKING INDUSTRY INCOME INTEREST INDUSTRY EXCHANGE BANKING SYSTEM FINANCIAL RESOURCES BANKING SERVICES SERVICES DEVELOPING COUNTRIES BANK ACCOUNT GENDER EQUITY MORTGAGE DEBIT_CARD WORLD DEVELOPMENT INDICATORS WELFARE BANK_ACCESS LOAN DIRECT DEPOSIT LABOR FORCE PARTICIPATION CREDIT CARD PAYMENTS SAVING INTERNATIONAL BANK LENDER FORMAL BANKING ACCESS TO BANKING LABOR MARKET VULNERABLE GROUP LOAN PAYMENT SAVINGS ACCESS TO ACCOUNTS FINANCIAL INSTITUTION UNION ECONOMIC DECISIONS BANK_ACCOUNT INTEREST RATES SAVINGS_BANK PAYMENT CRITERIA FINANCIAL INSTITUTIONS MARKETS DEBT LENDERS COLLECTION SERVICES SOCIAL PROTECTION LOANS LABOR SIZES OF LOANS EQUALIZATION FINANCIAL SYSTEM MONEY LENDER DEBIT CARDS FINANCE BANKING SECTOR BANKS EQUITY SAVINGS RATES LOAN REPAYMENT FORMAL FINANCIAL INSTITUTION INDIVIDUALS WITH BANK ACCOUNTS CAPITAL WAGES INSTALLMENT FINANCIAL CRISIS EDUCATION LEVELS FAMILY FUTURE SAVINGS RATE CREDIT_CARD ACCESS TO FINANCE VALUE PENSIONS GENDER BANK CREDIT ACCESSIBILITY UNIVERSAL ACCESS HOUSEHOLD REPAYMENT EDUCATION LEVEL INFORMAL SAVINGS HEAD OF HOUSEHOLDS DEMOGRAPHIC CHARACTERISTICS ACCESS TO BANK ACCOUNTS FINANCIAL ACCESS TRANSACTION COSTS PROPENSITY TO SAVE FINANCIAL SERVICE CREDIT UNION BANK ACCOUNTS CC FORMAL SAVINGS MICROFINANCE DEMOGRAPHIC CHANGES BANK CARD EMPLOYER FINANCIAL DEVELOPMENT SHARE HOUSEHOLDS COLLATERAL EQUALITY BANKING ECONOMIC OPPORTUNITY FORMAL BORROWING COOPERATIVES HEAD OF HOUSEHOLD EARNINGS BORROWING LENDING INCENTIVE STRUCTURE DEBIT CARD ACCOUNT USAGE FEES DEMOGRAPHIC WOMEN REMITTANCES LABOR MARKETS GOVERNMENTS INFORMAL FINANCING ARREARS INCOME GROUPS INEQUALITY MICROFINANCE INSTITUTION EMPLOYEES
Online Access:	http://documents.worldbank.org/curated/en/2016/01/25838801/equitable-access-finance-turkey-evidence-latest-global-findex http://hdl.handle.net/10986/23721

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spelling	okr-10986-237212021-04-23T14:04:16Z How Equitable is Access to Finance in Turkey? : Evidence from the Latest Global FINDEX Azevedo, Joao Pedro Inan, Osman Kaan Yang, Judy S. DEPOSIT COUNTRY COMPARISONS FINANCIAL SERVICES INFORMAL BORROWING BANK FEES CREDIT CARDS ECONOMIC GROWTH DEPOSITS PEOPLE FINANCING FORMAL FINANCIAL INSTITUTIONS PRINCIPAL ACCOUNT OWNERSHIP BANKING INDUSTRY INCOME INTEREST INDUSTRY EXCHANGE BANKING SYSTEM FINANCIAL RESOURCES BANKING SERVICES SERVICES DEVELOPING COUNTRIES BANK ACCOUNT GENDER EQUITY MORTGAGE DEBIT_CARD WORLD DEVELOPMENT INDICATORS WELFARE BANK_ACCESS LOAN DIRECT DEPOSIT LABOR FORCE PARTICIPATION CREDIT CARD PAYMENTS SAVING INTERNATIONAL BANK LENDER FORMAL BANKING ACCESS TO BANKING LABOR MARKET VULNERABLE GROUP LOAN PAYMENT SAVINGS ACCESS TO ACCOUNTS FINANCIAL INSTITUTION UNION ECONOMIC DECISIONS BANK_ACCOUNT INTEREST RATES SAVINGS_BANK PAYMENT CRITERIA FINANCIAL INSTITUTIONS MARKETS DEBT LENDERS COLLECTION SERVICES SOCIAL PROTECTION LOANS LABOR SIZES OF LOANS EQUALIZATION FINANCIAL SYSTEM MONEY LENDER DEBIT CARDS FINANCE BANKING SECTOR BANKS EQUITY SAVINGS RATES LOAN REPAYMENT FORMAL FINANCIAL INSTITUTION INDIVIDUALS WITH BANK ACCOUNTS CAPITAL WAGES INSTALLMENT FINANCIAL CRISIS EDUCATION LEVELS FAMILY FUTURE SAVINGS RATE CREDIT_CARD ACCESS TO FINANCE VALUE PENSIONS GENDER BANK CREDIT ACCESSIBILITY UNIVERSAL ACCESS HOUSEHOLD REPAYMENT EDUCATION LEVEL INFORMAL SAVINGS HEAD OF HOUSEHOLDS DEMOGRAPHIC CHARACTERISTICS ACCESS TO BANK ACCOUNTS FINANCIAL ACCESS TRANSACTION COSTS PROPENSITY TO SAVE FINANCIAL SERVICE CREDIT UNION BANK ACCOUNTS CC FORMAL SAVINGS MICROFINANCE DEMOGRAPHIC CHANGES BANK CARD EMPLOYER FINANCIAL DEVELOPMENT SHARE HOUSEHOLDS COLLATERAL EQUALITY BANKING ECONOMIC OPPORTUNITY FORMAL BORROWING COOPERATIVES HEAD OF HOUSEHOLD EARNINGS BORROWING LENDING INCENTIVE STRUCTURE DEBIT CARD ACCOUNT USAGE FEES DEMOGRAPHIC WOMEN REMITTANCES LABOR MARKETS GOVERNMENTS INFORMAL FINANCING ARREARS INCOME GROUPS INEQUALITY MICROFINANCE INSTITUTION EMPLOYEES Access to finance is a key component of poverty reduction, as it enables individuals to make economic decisions that can improve their welfare. The equality of access among different groups in society is also crucial for correctly allocating the positive benefits of improved financial services. In Turkey, bank account, debit card, and credit card ownership, which can serve as the main indicators of access to finance, are at a remarkably high level. However, adjusting the coverage rate of these indicators by controlling for age, education, gender, an income reveals that gender is the main source of inequality in Turkey at the individual level. Despite the progress made in addressing the gender disparity in access to finance between 2011 and 2014, females in Turkey continue to be financially less included. Moreover, Turkey's low level of savings and high rate of informal borrowing compared with its peers diminish individuals' resilience to future shocks. Promisingly, Turkey has been able to improve its rate of savings significantly over the past few years, although it continues to be among the countries that save at a lower level. 2016-02-02T23:45:51Z 2016-02-02T23:45:51Z 2016-01 Working Paper http://documents.worldbank.org/curated/en/2016/01/25838801/equitable-access-finance-turkey-evidence-latest-global-findex http://hdl.handle.net/10986/23721 English en_US Policy Research Working Paper;No. 7541 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper Europe and Central Asia Turkey
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	DEPOSIT COUNTRY COMPARISONS FINANCIAL SERVICES INFORMAL BORROWING BANK FEES CREDIT CARDS ECONOMIC GROWTH DEPOSITS PEOPLE FINANCING FORMAL FINANCIAL INSTITUTIONS PRINCIPAL ACCOUNT OWNERSHIP BANKING INDUSTRY INCOME INTEREST INDUSTRY EXCHANGE BANKING SYSTEM FINANCIAL RESOURCES BANKING SERVICES SERVICES DEVELOPING COUNTRIES BANK ACCOUNT GENDER EQUITY MORTGAGE DEBIT_CARD WORLD DEVELOPMENT INDICATORS WELFARE BANK_ACCESS LOAN DIRECT DEPOSIT LABOR FORCE PARTICIPATION CREDIT CARD PAYMENTS SAVING INTERNATIONAL BANK LENDER FORMAL BANKING ACCESS TO BANKING LABOR MARKET VULNERABLE GROUP LOAN PAYMENT SAVINGS ACCESS TO ACCOUNTS FINANCIAL INSTITUTION UNION ECONOMIC DECISIONS BANK_ACCOUNT INTEREST RATES SAVINGS_BANK PAYMENT CRITERIA FINANCIAL INSTITUTIONS MARKETS DEBT LENDERS COLLECTION SERVICES SOCIAL PROTECTION LOANS LABOR SIZES OF LOANS EQUALIZATION FINANCIAL SYSTEM MONEY LENDER DEBIT CARDS FINANCE BANKING SECTOR BANKS EQUITY SAVINGS RATES LOAN REPAYMENT FORMAL FINANCIAL INSTITUTION INDIVIDUALS WITH BANK ACCOUNTS CAPITAL WAGES INSTALLMENT FINANCIAL CRISIS EDUCATION LEVELS FAMILY FUTURE SAVINGS RATE CREDIT_CARD ACCESS TO FINANCE VALUE PENSIONS GENDER BANK CREDIT ACCESSIBILITY UNIVERSAL ACCESS HOUSEHOLD REPAYMENT EDUCATION LEVEL INFORMAL SAVINGS HEAD OF HOUSEHOLDS DEMOGRAPHIC CHARACTERISTICS ACCESS TO BANK ACCOUNTS FINANCIAL ACCESS TRANSACTION COSTS PROPENSITY TO SAVE FINANCIAL SERVICE CREDIT UNION BANK ACCOUNTS CC FORMAL SAVINGS MICROFINANCE DEMOGRAPHIC CHANGES BANK CARD EMPLOYER FINANCIAL DEVELOPMENT SHARE HOUSEHOLDS COLLATERAL EQUALITY BANKING ECONOMIC OPPORTUNITY FORMAL BORROWING COOPERATIVES HEAD OF HOUSEHOLD EARNINGS BORROWING LENDING INCENTIVE STRUCTURE DEBIT CARD ACCOUNT USAGE FEES DEMOGRAPHIC WOMEN REMITTANCES LABOR MARKETS GOVERNMENTS INFORMAL FINANCING ARREARS INCOME GROUPS INEQUALITY MICROFINANCE INSTITUTION EMPLOYEES
spellingShingle	DEPOSIT COUNTRY COMPARISONS FINANCIAL SERVICES INFORMAL BORROWING BANK FEES CREDIT CARDS ECONOMIC GROWTH DEPOSITS PEOPLE FINANCING FORMAL FINANCIAL INSTITUTIONS PRINCIPAL ACCOUNT OWNERSHIP BANKING INDUSTRY INCOME INTEREST INDUSTRY EXCHANGE BANKING SYSTEM FINANCIAL RESOURCES BANKING SERVICES SERVICES DEVELOPING COUNTRIES BANK ACCOUNT GENDER EQUITY MORTGAGE DEBIT_CARD WORLD DEVELOPMENT INDICATORS WELFARE BANK_ACCESS LOAN DIRECT DEPOSIT LABOR FORCE PARTICIPATION CREDIT CARD PAYMENTS SAVING INTERNATIONAL BANK LENDER FORMAL BANKING ACCESS TO BANKING LABOR MARKET VULNERABLE GROUP LOAN PAYMENT SAVINGS ACCESS TO ACCOUNTS FINANCIAL INSTITUTION UNION ECONOMIC DECISIONS BANK_ACCOUNT INTEREST RATES SAVINGS_BANK PAYMENT CRITERIA FINANCIAL INSTITUTIONS MARKETS DEBT LENDERS COLLECTION SERVICES SOCIAL PROTECTION LOANS LABOR SIZES OF LOANS EQUALIZATION FINANCIAL SYSTEM MONEY LENDER DEBIT CARDS FINANCE BANKING SECTOR BANKS EQUITY SAVINGS RATES LOAN REPAYMENT FORMAL FINANCIAL INSTITUTION INDIVIDUALS WITH BANK ACCOUNTS CAPITAL WAGES INSTALLMENT FINANCIAL CRISIS EDUCATION LEVELS FAMILY FUTURE SAVINGS RATE CREDIT_CARD ACCESS TO FINANCE VALUE PENSIONS GENDER BANK CREDIT ACCESSIBILITY UNIVERSAL ACCESS HOUSEHOLD REPAYMENT EDUCATION LEVEL INFORMAL SAVINGS HEAD OF HOUSEHOLDS DEMOGRAPHIC CHARACTERISTICS ACCESS TO BANK ACCOUNTS FINANCIAL ACCESS TRANSACTION COSTS PROPENSITY TO SAVE FINANCIAL SERVICE CREDIT UNION BANK ACCOUNTS CC FORMAL SAVINGS MICROFINANCE DEMOGRAPHIC CHANGES BANK CARD EMPLOYER FINANCIAL DEVELOPMENT SHARE HOUSEHOLDS COLLATERAL EQUALITY BANKING ECONOMIC OPPORTUNITY FORMAL BORROWING COOPERATIVES HEAD OF HOUSEHOLD EARNINGS BORROWING LENDING INCENTIVE STRUCTURE DEBIT CARD ACCOUNT USAGE FEES DEMOGRAPHIC WOMEN REMITTANCES LABOR MARKETS GOVERNMENTS INFORMAL FINANCING ARREARS INCOME GROUPS INEQUALITY MICROFINANCE INSTITUTION EMPLOYEES Azevedo, Joao Pedro Inan, Osman Kaan Yang, Judy S. How Equitable is Access to Finance in Turkey? : Evidence from the Latest Global FINDEX
geographic_facet	Europe and Central Asia Turkey
relation	Policy Research Working Paper;No. 7541
description	Access to finance is a key component of poverty reduction, as it enables individuals to make economic decisions that can improve their welfare. The equality of access among different groups in society is also crucial for correctly allocating the positive benefits of improved financial services. In Turkey, bank account, debit card, and credit card ownership, which can serve as the main indicators of access to finance, are at a remarkably high level. However, adjusting the coverage rate of these indicators by controlling for age, education, gender, an income reveals that gender is the main source of inequality in Turkey at the individual level. Despite the progress made in addressing the gender disparity in access to finance between 2011 and 2014, females in Turkey continue to be financially less included. Moreover, Turkey's low level of savings and high rate of informal borrowing compared with its peers diminish individuals' resilience to future shocks. Promisingly, Turkey has been able to improve its rate of savings significantly over the past few years, although it continues to be among the countries that save at a lower level.
format	Working Paper
author	Azevedo, Joao Pedro Inan, Osman Kaan Yang, Judy S.
author_facet	Azevedo, Joao Pedro Inan, Osman Kaan Yang, Judy S.
author_sort	Azevedo, Joao Pedro
title	How Equitable is Access to Finance in Turkey? : Evidence from the Latest Global FINDEX
title_short	How Equitable is Access to Finance in Turkey? : Evidence from the Latest Global FINDEX
title_full	How Equitable is Access to Finance in Turkey? : Evidence from the Latest Global FINDEX
title_fullStr	How Equitable is Access to Finance in Turkey? : Evidence from the Latest Global FINDEX
title_full_unstemmed	How Equitable is Access to Finance in Turkey? : Evidence from the Latest Global FINDEX
title_sort	how equitable is access to finance in turkey? : evidence from the latest global findex
publisher	World Bank, Washington, DC
publishDate	2016
url	http://documents.worldbank.org/curated/en/2016/01/25838801/equitable-access-finance-turkey-evidence-latest-global-findex http://hdl.handle.net/10986/23721
_version_	1764454631047430144

How Equitable is Access to Finance in Turkey? : Evidence from the Latest Global FINDEX

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