Hostname: page-component-cd9895bd7-gvvz8 Total loading time: 0 Render date: 2024-12-24T19:05:51.608Z Has data issue: false hasContentIssue false
  • English
  • Français

Are you really Financially Excluded if you Choose not to be Included? Insights from Social Exclusion, Resilience and Ecological Systems

Published online by Cambridge University Press:  26 November 2015

FANNY SALIGNAC ,
KRISTY MUIR  and
JADE WONG
FANNY SALIGNAC
Affiliation:
Centre for Social Impact, University of New South Wales, Suite 16.01, 6 O’Connell Street, Sydney 2000 NSWAustralia email: [email protected]
KRISTY MUIR
Affiliation:
Centre for Social Impact, University of New South Wales, Suite 16.01, 6 O’Connell Street, Sydney 2000 NSWAustralia email: [email protected]
JADE WONG
Affiliation:
Centre for Social Impact, University of New South Wales, Suite 16.01, 6 O’Connell Street, Sydney 2000 NSWAustralia email: [email protected]
Get access Rights & Permissions [Opens in a new window]

Abstract

Around one in five people in developed countries are ‘financially excluded’. But how meaningful is this when the current definition does not differentiate between those who choose to be excluded and those who are forced to be? This conceptual paper draws on frameworks from social exclusion, resilience and ecological systems theory to critique the current definition of financial exclusion and to introduce an alternative concept. The paper argues that the emphasis of extant literature on an access-point approach has isolated the context surrounding financial exclusion and contributed to simplifying the phenomenon. It puts forward the need for a change in the way financial exclusion is conceptualised in developed countries to take broader contextual settings and a more holistic approach into account and it suggests that a shift to financial resilience may be a way forward.

Type
Articles
Information
Journal of Social Policy , Volume 45 , Issue 2 , April 2016 , pp. 269 - 286
Copyright
Copyright © Cambridge University Press 2015 

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Abbott-Chapman, J., Denholm, C. and Wyld, C. (2008), ‘Social support as a factor inhibiting teenage risk-taking: Views of students, parents and professionals’, Journal of Youth Studies, 11: 6, 611–627.CrossRefGoogle Scholar
Abou-Zaid, A. and Leonce, T. (2014), ‘Religious Pluralism, yet a Homogenous Stance on Interest Rate: The Case of Judaism, Christianity, and Islam.’ Contemporary Economics, 8 (2): 219–228.CrossRefGoogle Scholar
Affleck, A. and Mellor, M. (2006), ‘Community development finance: A neo-market solution to social exclusion?’, Journal of Social Policy, 35, 303–319.CrossRefGoogle Scholar
Anderson, P. (1999), ‘Complexity theory and organization science’, Organization Science, 10: 3, 216–232.CrossRefGoogle Scholar
Beck, T. and Demirgüç-Kunt, K. (2008), ‘Access to finance: An unfinished agenda’, The World Bank Economic Review, 22: 3, 383–396.CrossRefGoogle Scholar
Bhanot, D., Bapat, V. and Bera, S. (2012), ‘Studying financial inclusion in north-east India’, International Journal of Bank Marketing, 30: 6, 465–484.CrossRefGoogle Scholar
Boal, K. B. and Schultz, P. L. (2007), ‘Storytelling, time, and evolution: The role of strategic leadership in complex adaptive systems’, The Leadership Quarterly, 18, 411–428.CrossRefGoogle Scholar
Bronfenbrenner, U. (1977), ‘Toward an experimental ecology of human development’, Amercian Psychology, July, 513–531.CrossRefGoogle Scholar
Bronfenbrenner, U. (1994), ‘Ecological models of human development’, in International encyclopedia of education, Oxford: Elsevier.Google Scholar
Buckland, J. and Dong, X.-Y. (2008), ‘Banking on the margin in Canada’, Economic Development Quarterly, 22: 3, 252.CrossRefGoogle Scholar
Buikstra, E., Ross, H., King, C. A., Baker, P. G., Hegney, D., McLachlan, K. and Rogers-Clark, C. (2010), ‘The components of resilience - perceptions of an Australian rural community’, Journal of Community Psychology, 38: 8, 975–991.CrossRefGoogle Scholar
Burkett, I. and Sheehan, G. (2009), From the margins to the mainstream: The challenges for microfinance in Australia, Foresters Community Finance.Google Scholar
Byrne, N., McCarthy, O. and Ward, M. (2007), ‘Money-lending and financial exclusion’, Public Money & Management, 27: 1, 45.CrossRefGoogle Scholar
Carbo, S., Gardener, E. P. M. and Molyneux, P. (2007), ‘Financial exclusion in Europe’, Public Money & Management, 27: 1, 21.CrossRefGoogle Scholar
Chant Link & Associates (2004), A report on financial exclusion in Australia: ANZ Bank.Google Scholar
Cnaan, R. A., Moodithaya, M. S. and Handy, F. (2012), ‘Financial inclusion: Lessons from rural South India’, Journal of Social Policy, 41, 183–205.CrossRefGoogle Scholar
Collard, S. (2007), ‘Toward financial inclusion in the UK: Progress and challenges’, Public Money & Management, 27: 1, 13.CrossRefGoogle Scholar
Connolly, C. (2012), Measuring financial exclusion in Australia, Centre for Social Impact, University of New South Wales for National Australia Bank.Google Scholar
Connolly, C., Georgouras, M., Hems, L. and Wolfson, L. (2011), Measuring financial exclusion in Australia, Centre for Social Impact, University of New South Wales for National Australia Bank.Google Scholar
Connolly, C. and Hajaj, K. (2011), Financial services and social exclusion, report prepared for the Chifley Research Centre, University of New South Wales, Sydney.Google Scholar
Craik, K. (1943), The nature of explanation, Cambridge: Cambridge University Press.Google Scholar
Cutter, S. L., Barnes, L., Berry, M., Burton, C., Evans, E., Tate, E. and Webb, J. (2008), ‘A place-based model for understanding community resilience to natural disasters’, Global Environmental change, 18, 598–606.CrossRefGoogle Scholar
Datta, K. (2009), ‘Risky migrants? Low-paid migrant workers coping with financial exclusion in London’, European Urban and Regional Studies, 16: 4, 331–344.CrossRefGoogle Scholar
Devlin, J. F. (2009), ‘An analysis of influences on total financial exclusion’, The Service Industries Journal, 29: 8, 1021–1036.CrossRefGoogle Scholar
European Commission (2011a), Commission recommendation on access to a basic payment account, Brussels: European Commission.Google Scholar
European Commission (2011b), Impact assessment, Brussels: European Commission. http://ec.europa.eu/internal_market/auditing/docs/reform/impact_assesment_en.pdf (15th of October, 2014).Google Scholar
Figart, D. M. (2013), ‘Institutionalist policies for financial inclusion’, Journal of Economic Issues, XLVII: 4, 873–893.CrossRefGoogle Scholar
Folke, C. (2006), ‘Resilience: The emergence of a perspective for social-ecological analyses’, Global Environmental change, 16, 253–267.CrossRefGoogle Scholar
Forrester, J. (1971), ‘Counterintuitive behavior of social systems’, Theory and Decision, 2: 2, 109–140.CrossRefGoogle Scholar
Fuller, D., Mellor, M., Dodds, L. and Affleck, A. (2006), ‘Consulting the community: Advancing financial inclusion in Newcastle upon Tyne, UK’, International Journal of Sociology and Social Policy, 26: 5/6, 255–271.CrossRefGoogle Scholar
Gallopin, G. C. (2006), ‘Linkages between vulnerability, resilience, and adaptive capacity’, Global Environmental change, 16, 293–303.CrossRefGoogle Scholar
Gomez-Barroso, J. L. and Marban-Flores, R. (2013), ‘Basic financial services: A new service of general economic interest?’, Journal of European Social Policy, 23: 3, 332–339.CrossRefGoogle Scholar
Gross-Manos, D. (2015), ‘Material deprivation and social exclusion of children: Lessons from measurement attempts among children in Israel’, Journal of Social Policy, 44: 1, 105–125.CrossRefGoogle Scholar
Honohan, P. (2008), ‘Cross-country variation in household access to financial services’, Journal of Banking & Finance, 32: 11, 2493–2500.CrossRefGoogle Scholar
Horska, H., Szafranska, M. and Matysik-Pejas, R. (2013), ‘Knowledge and financial skills as the factors determining the financial exclusion process of rural dwellers in Poland’, Agriculture Economics, 59: 1, 29–37.Google Scholar
Hunter, B. and Jordan, K. (2010), ‘Explaining social exclusion: Towards social inclusion for Indigenous Australians’, Australian Journal of Social Issues, 45: 2, 243–264.CrossRefGoogle Scholar
Kempson, E., Whyley, C., Caskey, J. and Collard, S. (2000), In or out? Financial exclusion: A literature and research review, London: Financial Services Authority.Google Scholar
Kirshbaum, D. (2002), Introduction to complex systems, http://www.calresco.org/intro.htm (2nd of October, 2013).Google Scholar
Kumar, N. (2013), ‘Financial inclusion and its determinants: Evidence from India’, Journal of Financial Economic Policy, 5: 1, 4–19.CrossRefGoogle Scholar
Leyshon, A., Knights, D. and Burton, D. (2006), Delivering financial services in the home, 2002–2004. UK Data Archive. SN: 5238, http://dx.doi.org/10.5255/UKDA-SN-5238-1 (20th July, 2014).CrossRefGoogle Scholar
Leyshon, A. and Thrift, N. (1995), ‘Geographies of financial exclusion: Financial abandonment in Britain and the United States’, Transactions of the Institute of British Geographers, 20: 3, 312–341.CrossRefGoogle Scholar
Marron, D. (2013), ‘Governing poverty in a neoliberal age: New labour and the case of financial exclusion’, New Political Economy, 18: 6, 785.CrossRefGoogle Scholar
Muir, K. and Strnadová, I. (2014), ‘Whose Responsibility? Resilience in Families of Children with Developmental Disabilities’, Disability & Society, 29 (6): 922–937.CrossRefGoogle Scholar
Muir, K., Marjolin, A. and Adams, S. (2015), Eight Years on the Fringe: What Has It Meant to Be Severely or Fully Financially Excluded in Australia? Centre for Social Impact for the National Australia Bank.Google Scholar
Norris, F. H. (2010), Behavioral science perspectives on resilience, CARRI Research Report 10. Community and Regional Resilience Institute. http://www.resilientus.org/wp-content/uploads/2013/03/Behav_Science_Perspectives_fn_1309545968.pdf (8th of September, 2014).Google Scholar
Osili, U. O. and Paulson, A. (2008), ‘What can we learn about financial access from US immigrants? The role of country of origin institutions and immigrant beliefs’, The World Bank Economic Review, 22: 3, 431–455.CrossRefGoogle Scholar
Parodi, G. and Sciulli, D. (2012), ‘Introduction and overview’, in Social Exclusion: Short and Long Term Causes and Consequences, Heidelberg, DEU: Physica-Verlag.CrossRefGoogle Scholar
Rose, A. (2004), ‘Defining and measuring economic resilience to disasters’, Disaster Prevention and Management: An International Journal, 13: 4, 307–314.CrossRefGoogle Scholar
Russell, H., Whelan, C. T. and Maitre, B. (2012), ‘Economic vulnerability and severity of debt problems: An analysis of the Irish EU-SILC 2008’, European Sociological Review, 29: 4, 695–706.CrossRefGoogle Scholar
Sampson, E. L., Dover, D., Mandell, M., Pant, A. and Blanchard, M. R. (2007), ‘Personal identification (PIN) numbers: A new cause of financial exclusion in older people’, International Journal of Geriatric Psychiatry, 22: 5, 492–493.CrossRefGoogle Scholar
Saunders, P. (2011a), ‘Defining social exclusion and the social inclusion agenda’, in Down and out: Poverty and exclusion in Australia, Bristol: Policy Press.Google Scholar
Saunders, P. (2011b), ‘Identifying the essentials of life’, in Down and out: Poverty and exclusion in Australia, Bristol: Policy Press.Google Scholar
Saunders, P. (2011c), ‘Introduction and overview’, in Down and out: Poverty and exclusion in Australia, Bristol: Policy Press.Google Scholar
Schoon, I. and Bynner, J. (2003), ‘Risk and resilience in the life course: Implications for interventions and social policies’, Journal of Youth Studies, 6: 1, 21–31.CrossRefGoogle Scholar
Scutella, R., Wilkins, R. and Kostenko, W. (2013), ‘Intensity and persistence of individuals’ social exclusion in Australia’, Australian Journal of Social Issues, 48: 3, 273–298.CrossRefGoogle Scholar
Serido, J., Shim, S. and Tang, C. (2013), ‘A developmental model of financial capability: A framework for promoting a successful transition to adulthood’, International Journal of Behavioural Development, 37: 4, 287–297.CrossRefGoogle Scholar
Shehu, A. Y. (2012), ‘Promoting financial inclusion for effective anti-money laundering and counter financing of terrorism (AML/CFT)’, Crime, Law and Social Change, 57: 3, 305–323.CrossRefGoogle Scholar
Shiller, R. J. (2012), ‘The subprime solution: How today's global financial crisis happened, and what to do about it’, New Jersey: Princeton University Press.Google Scholar
Silver, H. (2010), ‘Understanding social inclusion and its meaning for Australia’, Australian Journal of Social Issues, 45: 2, 183–211.CrossRefGoogle Scholar
Sinclair, S. (2013), ‘Financial inclusion and social financialisation: Britain in a European context’, The International Journal of Sociology and Social Policy, 33: 11/12, 658–676.CrossRefGoogle Scholar
Taylor, M. (2011), ‘Measuring financial capability and its determinants using survey data’, Social Indicators Research, 102: 2, 297–314.CrossRefGoogle Scholar
Van Beurden, E. K., Kia, A. M., Zask, A., Dietrich, U. and Rose, L. (2011), ‘Making sense in a complex landscape: How the Cynefin Framework from Complex Adaptive Systems Theory can inform health promotion practice’, Health Promotion International, 28: 1, 73–83.CrossRefGoogle Scholar
von Stumm, S., O’Creevy, M. F. and Furnham, A. (2013), ‘Financial capability, money attitudes and socioeconomic status: Risks for experiencing adverse financial events’, Personality and Individual Differences, 54, 344–349.CrossRefGoogle Scholar
Wentzel, J. P., Yadavalli, V. S. and Sundar, D. K. (2013), ‘A comparison of financial service adoption propensity across three channels at the bottom of the pyramid in South Africa’, Management Dynamics: Journal of the Southern African Institute for Management Scientists, 22: 1, 26–37.Google Scholar