Financial inclusion, productivity shocks and consumption volatility in emerging economies

  • Rudrani Bhattacharyaa, Ila Patnaikb
  • Published 2015


How does access to finance impact consumption volatility? Theory and evidence from advanced economies suggests that greater household access to finance smooths consumption. Evidence from emerging markets, where consumption is usually more volatile than income, indicates that financial reform further increases the volatility of consumption relative to output… (More)


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