Financial Access and Inclusion: A Diagnostic for Barbados
This paper presents an assessment of financial market development, access, and inclusion for Barbados. Based on a review of indicators, survey data, and other metrics, our analysis suggests that recent fiscal and macroeconomic stability concerns, as well as increasingly stringent administrative requirements, have negatively affected financial access and inclusionparticularly for smaller firms. For some firms, high collateral requirements, administrative and documentation-related hurdles, and shortcomings in the institutional and regulatory framework are key impediments to greater financial access. Policy recommendations that flow from this analysis include the importance of durably addressing macroeconomic imbalances, reinforcing the regulatory and institutional frameworks, supporting the availability of information regarding credit and related counterparty risks, and developing a coordinated approach to institutional and policy reform aimed at promoting financial inclusion (e.g., via development of a national financial inclusion strategy).
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| Language: | English |
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Inter-American Development Bank
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| Subjects: | Economic Policy, Private Sector, Financial Inclusion, Access to Finance, Commercial Bank, Small Business, H60 - National Budget Deficit and Debt: General E6 - Macroeconomic Policy Macroeconomic Aspects of Public Finance and General Outlook, G01 - Financial Crises, G02 - Behavioral Finance: Underlying Principles, E51 - Money Supply • Credit • Money Multipliers, financial access; financial deepening; financial inclusion; financial sector development; FinTech; economic policy; Barbados; private sector development, |
| Online Access: | http://dx.doi.org/10.18235/0002131 https://publications.iadb.org/en/financial-access-and-inclusion-diagnostic-barbados |
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