1;Preface;5 2;List of Contributions;6 3;Contents;8 4;Introduction;12 5;Part I;14 5.1;1 Access to Bank Accounts and Payment Services;15 5.1.1;1.1 Introduction: Financial Exclusion;15 5.1.2;1.2 Interests, Concerns and Possible Solutions;21 5.1.3;1.3 The Issue of Measurement and Comparative Analysis;40 5.1.4;1.4 Types of Response;45 5.1.5;1.5 Case Studies;53 5.1.6;1.6 Results from a Survey in France, Italy and Spain;94 5.1.7;1.7 Conclusions and Future Perspectives;105 5.1.8;1.8 References;109 5.2;2 Access to Credit: the Difficulties of Households;116 5.2.1;2.1 Introduction;116 5.2.2;2.2 The Use of Credit by Households;117 5.2.3;2.3 A Theoretical Framework for Credit Exclusion;126 5.2.4;2.4 Beating Credit Exclusion;132 5.2.5;2.5 Conclusions and Policy Implications;143 5.2.6;2.6 References;146 5.3;3 Access to Investments and Asset Building for Low Income People;150 5.3.1;3.1 Saving and Asset Accumulation for LMIs: Theoretic Framework;150 5.3.2;3.2 The USA Experience with the Individual Development Accounts ( IDAs);154 5.3.3;3.3 Saving and Asset Accumulation with Tax Refunds;171 5.3.4;3.5 Conclusions;181 5.3.5;3.6 References and Bibliography;182 5.3.6;3.7 APPENDIX;187 5.4;Appendix to Part I;191 5.4.1;Methodological Notes to the Field Research in France, Italy and Spain;191 6;Part II;196 6.1;4 What Are the Specific Economic Gains from Improved Financial Inclusion? A Tentative Methodology for Estimating These Gains;197 6.1.1;4.1 Introduction;197 6.1.2;4.2 Defining Financial Exclusion;198 6.1.3;4.3 European Evidence on Exclusion;199 6.1.4;4.4 Market Context and European Policy Responses;201 6.1.5;4.5 From Exclusion to Inclusion: Identifying the Costs and Benefits;205 6.1.6;4.6 Measuring the Economic Gains from Improved Financial Inclusion;213 6.1.7;4.7 Conclusion;215 6.1.8;4.8 References and Bibliography;216 6.2;5 From Financial Exclusion to Overindebtedness: the Paradox of Difficulties for People on Low Incomes?;218 6.2.1;5.1 Introduction1;218 6.2.2;5.2 A Definition of Financial Exclusion as a Social Phenomenon;220 6.2.3;5.3 Access and Use of Credit: the Importance of Social Constraints;226 6.2.4;5.4 The Mechanisms Underlying Access and Use Difficulties;232 6.2.5;5.5 Conclusion;246 6.2.6;5.6 References;248 6.3;6 The Role of German Savings Banks in Preventing Financial Exclusion;251 6.3.1;6.1 Introduction;251 6.3.2;6.2 Savings Banks as a Part of the German Banking System;253 6.3.3;6.3 Is the Public Mandate of the Savings Banks Obsolete or a Successful Strategy to Prevent Financial Exclusion?;258 6.3.4;6.4 Financing of Small and Medium-Sized Enterprises;263 6.3.5;6.6 Future Outlook on the Sparkassen-Finanzgruppe;266 6.3.6;6.7 References;269 6.4;7 Economic Growth and the Financial Inclusion: the Case of Poland;274 6.4.1;7.1 Introduction;274 6.4.2;7.2 Transformation of the Polish Banking Sector and Provision of Banking Services;276 6.4.3;7.3 Provision of Banking Services to Households and Corporations;285 6.4.4;7.4 Models of Bank Services to SME;290 6.4.5;7.5 Barriers to Providing Banking Services to SME: Results of Bank Surveys;293 6.4.6;7.6 Conclusions;297 6.4.7;7.7 References;300 6.5;8 Italian Banks' Credit Approach Towards Low- Income Consumers and Microenterprises: Is There a Bias Against Some Segments of Customers?;302 6.5.1;8.1 Introduction;302 6.5.2;8.2 Methodologies of Credit Risk Measurement: Credit Scoring Models;305 6.5.3;8.3 Strengths and Weaknesses of Credit Scoring;310 6.5.4;8.4 The Effects of the Adoption of Credit Scoring on a Marginal Borrower's Credit Process;313 6.5.5;8.5 The Experiences of Some Italian Banks;316 6.5.6;8.6 Conclusions;321 6.5.7;8.7 References;322 6.6;9 Banking the Poor: Policies to Bring Low- and Moderate- Income Households in the United States into the Financial Mainstream1;325 6.6.1;9.1 The "Unbanked" and the "Underbanked";325 6.6.2;9.2 The Banking Sector;329 6.6.3;9.3 Payments Systems and Distribution Networks;335 6.6.4;9.4 Transforming Financial Services for the Poor;341 6.6.5;9.5 Conclusion;351 6.