Scoping and Defining Financial Inclusion, Access to Credit, and Sustainable Finance

20 Pages Posted: 5 Jan 2021

See all articles by Steven L. Schwarcz

Steven L. Schwarcz

Duke University School of Law

Theodore L. Leonhardt

Duke University School of Law, Students

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

Suggested Citation

Schwarcz, Steven L. and Leonhardt, Theodore L., Scoping and Defining Financial Inclusion, Access to Credit, and Sustainable Finance (December 28, 2020). Law and Contemporary Problems, Forthcoming, Duke Law School Public Law & Legal Theory Series No. 2021-02, Available at SSRN: https://ssrn.com/abstract=3756237

Steven L. Schwarcz (Contact Author)

Duke University School of Law ( email )

210 Science Drive
Box 90362
Durham, NC 27708
United States
919-613-7060 (Phone)
919-613-7231 (Fax)

Theodore L. Leonhardt

Duke University School of Law, Students

Durham, NC
United States

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