Economic Inclusion of the unbanked in the U.S.

2014 Fiscal Year Final Research Report

• Project/Area Number: 24730254
• Research Category: Grant-in-Aid for Young Scientists (B)
• Allocation Type: Multi-year Fund
• Research Field: Economic policy
• Research Institution: Kinjo Gakuin University
• Principal Investigator: OHASHI Akira 金城学院大学, 国際情報学部, 教授 (70350957)
• Project Period (FY): 2012-04-01 – 2015-03-31
• Keywords: アメリカ / 金融規制 / アンバンクト / アンダーバンクト / 金融排除 / ペイデイローン / 伝統的金融サービス / 代替的金融サービス

Outline of Final Research Achievements

The purpose of this research project is to investigate the actual state of financial exclusion among low- and moderate-income households in the U.S. Financial exclusion has been caused mainly by increasing income inequality, coupled with financial liberalization and market forces. Although the significance of banking accounts has increased, there exist not a small number of people who do not have access to mainstream financial institutions.
The unbanked, which points to the person who does not have a checking or saving account, implies that economic capabilities are being deprived. Banking accounts are essential to the financial lives among the middle class. Without them, it is difficult to build credit history, accumulate wealth, and obtain low interest loans. Now, middle class is deteriorating, thus the social bond is unwinding. Accordingly, economic inclusion initiatives, that bring the unbanked into banking system, are critical challenges both theoretically and practically.

Free Research Field

経済学