This policy note reports the results of a systematic review of the empirical literature investigating the impact of access to formal banking services on the income of the poor. Taking a functional approach to finance, the authors define formal banking services to include lending, savings and payment services.
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Can Formal Banking Raise the Incomes of the Poor?
Rohini Pande, Shawn Cole, Anitha Sivasankaran, Gautam Bastian and Katherine Durlache
2012