Resumo

GOMEZ GOMEZ, Rafael; MORALES ZULUAGA, Eliana  e  CASTELLANOS MARTINEZ, Juan Felipe. Financial inclusion and productivity: the Colombian case. Rev. mex. econ. finanz [online]. 2020, vol.15, n.spe, pp.537-549.  Epub 05-Mar-2021. ISSN 2448-6795.  https://doi.org/10.21919/remef.v15i0.545.

This paper proposes the identification of the effects of financial inclusion on productivity in the Colombian context. To measure this incidence, a sample of panel data from the Annual Manufacturing Survey was used. It was Applied to a fixed-effects regression model in which the dependent variable corresponds to productivity at the establishment level, based on a portfolio of financial products. The results indicate that inclusion efforts understood as the adoption of financial services are not reflected in higher productivity. Thus, it shows persistent failures, limiting access to capital and productive factors. This study, then, opens an important debate in the Colombian case and in similar economies, since several sectorial studies, union efforts and public policy are focused on the adoption of a product portfolio, instrumentalizing inclusion without achieving the intended benefits. Finally, this study concludes that access to a variety of financial services does not guarantee increased productivity and may even deteriorate it.

Palavras-chave : financial inclusion; insurance; manufacturing industry; finance for SME; SME.

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