This chapter reviews recent trends in financial inclusion and its progress
from a macroeconomic perspective, focusing on Emerging Market Economies (EMEs).
The importance of EMEs in the global economy is evident in their dynamic and
adaptive economic characteristics, especially given the structural challenges they face
in integrating with the world economy. Understanding the extent of financial inclusion
is crucial, as finance drives economic growth and ensures resource sustainability, in
line with the socio-economic policy goals set by regulatory bodies and policymakers in
these economies. We have analyzed financial inclusion in 20 selected EMEs based on
the World Bank database and various macroeconomic development indicators,
shedding light on the fundamental nature of their financial systems. While significant
progress has been made in terms of access to finance, as evidenced by the growing
number of people with formal bank accounts, there has also been progress in the use of
financial services, such as savings, borrowing, and payments. However, concerns
remain regarding the quality of services and the affordability of financial products.
Keywords: Accessibility to finance, Emerging market economies, Financial inclusion, Finance-led-growth.
