Since it was published a few weeks ago, the World Bank's 2014 Global Findex report has made a splash in media around the world. It found that financial inclusion grew from 51 to 62 percent between 2011 and 2014, a shift that represents a total of 700 million people worldwide. But according to Daniel Rozas and David Roodman, there are reasons to be skeptical about this apparently massive growth.
"While we highly appreciate the survey and the light it shines on the state of financial inclusion across the world, we are concerned about the accuracy of this headline finding. The growth it suggests is almost certainly overstated. To illustrate this concern, we suggest an alternative news headline, also based on the survey findings:
Number of Unbanked in U.S. and Eurozone Cut in Half
U.S. unbanked population drops from 12 percent to 6 percent
in 2011-14; Eurozone cuts number of unbanked from 9 percent to 5 percent,
according to report."
Read more at the full post on the NextBillion.net.