Scoping and Defining Financial Inclusion, Access to Credit, and Sustainable Finance
Law and Contemporary Problems, Forthcoming
Duke Law School Public Law & Legal Theory Series No. 2021-02
20 Pages Posted: 5 Jan 2021
Date Written: December 28, 2020
Abstract
Debates over using financial regulation to help combat inequality and provide new economic opportunities for the disadvantaged often invoke the terms “financial inclusion,” “access to credit,” and “sustainable finance.” This article is part of a symposium using these terms in its title. Sadly, though, these terms remain poorly defined. Informed by an understanding of the financial system’s functions, this article examines what the scope and meaning of these terms should be. To that end, it seeks to provide clear definitions that not only are accurate and consistent with market expectations but also that should remain meaningful over time. After scoping and defining these terms, the article illustrates how they can be used to discuss possible policy proposals for addressing economic dislocations caused by the COVID-19 pandemic.
Keywords: finance, credit, financial inclusion, sustainable finance, credit access
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