Determinants of financial inclusion in Mexico based on the 2012 National Financial Inclusion Survey (ENIF)

Type Report
Title Determinants of financial inclusion in Mexico based on the 2012 National Financial Inclusion Survey (ENIF)
Author(s)
Publication (Day/Month/Year) 2014
URL https://www.bbvaresearch.com/wp-content/uploads/2014/06/WP_1415.pdf
Abstract
When defining inclusive financial systems, we are talking about a set of savings, loan, payment and risk management products which meet the differing needs of the population, in sustainable and efficient conditions. This ideal scenario, however, is very different from the one we see in real life, if we go by the Global Findex Survey, conducted by the World Bank in 148 countries including Mexico, which shows us that 61% of adults in Latin America and the Caribbean are excluded from formal financial structures, and can only use informal financing structures or their own resources to cover their consumption or investment requirements. Financial inclusion is defined by the Mexican National Banking and Securities Commission (CNBV in the Spanish acronym), as “the access to, and use of, financial services within an appropriate regulatory framework which guarantees structures for consumer protection and promotes financial education to improve the financial capabilities of all segments of the population”. This definition covers not only the availability of access (supply), but also the effective use of financial services by individuals (demand). Although consumer protection and financial education are not directly included in this research, mainly because of a lack of information to measure these dimensions, they are assumed to be an integral part of financial inclusion.

Related studies

»