BANKING STRATEGY AND FINANCIAL EXCLUSION: TRACING THE PATHWAYS OF GLOBALIZATION
This paper argues that the current world-wide scenario of liberalized banking and financial exclusion has emerged because of two successive phases of financial globalization: a macro-scale globalization beginning in the late 1970s and persisting two decades; and a micro-scale globalization that is...
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| Formato: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 2005 |
| País: | Brasil |
| Recursos: | Universidade Federal do Paraná (UFPR) |
| Repositorio: | Revista de Economia (Curitiba. Online) |
| Idioma: | portugués |
| OAI Identifier: | oai:revistas.ufpr.br:article/5021 |
| Acesso em linha: | https://revistas.ufpr.br/economia/article/view/5021 |
| Access Level: | acceso abierto |
| Palavra-chave: | estratégia bancária; exclusão financeira; globalização; banking strategy; financial exclusion; globalization |
| Resumo: | This paper argues that the current world-wide scenario of liberalized banking and financial exclusion has emerged because of two successive phases of financial globalization: a macro-scale globalization beginning in the late 1970s and persisting two decades; and a micro-scale globalization that is, the movement across borders of banking firms and banking practices - beginning in the late 1980s and still gathering force. Contrary to those who view micro-scale globalization as shifting formerly sheltered national banking systems toward efficiency, this paper argues that micro-scale globalization is generating both financial inclusion for the privileged and financial exclusion for the poor or working poor. That is, the micro-scale globalization processes move not only along an efficiency/inefficiency axis, but also along an axis of wealth-equality/opportunity; and moves in the direction of efficiency may force a given economy further from the point of equality of opportunity and wealth. |
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