000			02914nam a2200337 a 4500
005			20181210070729.0
007			cr |||||||||||
008			060206s2006 dcu sb i000 0 eng
010			_a 2005399845
040			_aDLC _cDLC _dBD-DhBPA
050	0	0	_aHG3881.5.W57
082			_a332.6 _bSOA 2006
100	1		_aSolo, Tova Maria _932153
245	1	0	_aAccess to financial services in Colombia _bthe "unbanked" in Bogota / _cTova Maria Solo and Astrid Manroth.
260			_aWashington, D.C. : _bWorld Bank, _c2006
300			_a73 p. ; _c23 cm.
490	1		_aPolicy research working paper ; _v3834
500			_aTitle from PDF file as viewed on 2/6/2006.
504			_aIncludes bibliographical references.
520	3		_a"The authors look at the depth of the financial sector in Bogota in terms of the "financial exclusion" of those, particularly poorer citizens, who operate without accounts in formal financial institutions-the unbanked. They begin with a review of the overall decline in financial intermediation from 1998 to 2003, which explains, in part, the high percentage of unbanked-61 percent in a recent household survey in Bogota. The authors next look at the banking system today, concluding that the present challenge is to increase financial intermediation overall, especially with the poor. Their analysis shows that Colombia's banks provide costly services mainly catered toward high-income clients. Existing fees and costs of checking, savings, and loan services average 5-10 percent of a monthly minimum wage, making them hard to afford for low-income clients. The authors also explore the characteristics and impacts of financial exclusion associated with lower and more uncertain incomes, lower education, and closer links to the informal sector. They cite the household survey conducted in Bogota, showing that 70 percent of the unbanked earn less than one minimum wage per month, are three times more likely to be unemployed than the banked, and have lower education levels. The unbanked save and borrow largely in the informal sector, at greater risk and greater cost. At the same time, however, high home ownership rates show that the unbanked have the capacity to build assets, demonstrating that they have "bankable" characteristics. The authors conclude with recommendations for government and for the financial sector to broaden access for the benefit of public and private sectors, and for the unbanked. "--World Bank web site.
530			_aAlso available in print.
538			_aSystem requirements: Adobe Acrobat Reader.
538			_aMode of access: World Wide Web.
590			_aZahid
650		0	_aFinancial services industry _zColombia. _9107899
650		0	_aPoor _zColombia. _9107900
700	1		_aManroth, Astrid _9107901
710	2		_aWorld Bank. _9107902
830		0	_aPolicy research working papers (Online) ; _v3834. _9107903
942			_2ddc _cBK
999			_c37519 _d37519