| Abstract: |
Financial inclusion (FI) has become a key policy for poverty reduction in
developing countries. However, there is no consensus on what FI comprises, who
should be included and who will deliver this inclusion. The different
interpretations of the concept may lead to implementations that do not
correspond to the original intent. Moreover, by making certain assumptions
implicit, FI may be a policy that merely replicates microfinance initiatives.
In order to illustrate the inconsistencies in the existing literature, this
article displays a literature review of 67 studies about the definition of FI.
Built on the systematic review approach, studies are selected based on
inclusion and exclusion criteria, as well as an explicit search strategy, thus
providing a reliable and replicable outcome. After identifying the studies, we
present a critical discussion about the underlying theoretical and empirical
implications of the definitions of FI. This assessment enables a better
understanding of FI and its framing. To conclude, a plain definition is
suggested to ensure transparency and comparability of FI research. |