An Analysis of Equal Opportunities in Excess to Financial Access: A Case Study of Afyonkarahisar

İsa Sağbaş, Naci Tolga Saruç, Recep Yorulmaz

Abstract


Lack of access to financial services is one of the most important problems in developing countries like Turkey. Specifically, lower-income households face several financial restrictions such as lending requirements. These obstacles cause to restrict those households from the formal financial system. Gender based restrictions are also exist in those areas. Hence, the lacks of financial inclusiveness and lower-income population restrictions might also be able to increase income inequlity. Social equality would also possible to be harmed by these obstacles. As a starting point, it is important to measure the levels of financial access of specific segments in the economy. Policy makers in developing countries tend to be more aware of the importance of financial access for the society. It is known that there are various regulations to support financial access agenda such as consumer protection, financial capability, and regulation of microfinance, promotion of savings, promotion of access to finance for SMEs, and promotion of rural finance in developing countries.

Policy makers are responsible to provide equal opportunities to usage of public services for all in the society. The public administration theory suggests that nobody should be excluded from using public services. In line with the theory, education and health services are the main sources to maintain social equality in the economy. Public education services contributes to lower-income households share from income distribution and their contribution to the income distribution in general. Similarly, public health services contributes to lower-income household’s contribution to the labor force and whole economy.

Social equity policies  suggest more direct aid to restricted areas. Hence, this would strengthen national integration. Moreover, this would help to reduce poverty line in the country. Conclusively, enhancing the social equity in the society would reduce the income differences among regions and reduce the poverty line.

This paper explores the effects of access to financial services on social equality in Turkey. Conducting a survey among highschool and university students and their families, this paper tend to measure the impact of financial access on social equity.

 

Key Words: Financial Access, Social Equality


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