Financial inclusion in Colombia: A scoping literature review

Abstract

Purpose: The paper provides a comprehensive and up-to-date literature review of financial inclusion concepts and focuses in particular on the Colombian context. It structures the themes and dimensions of scholarly debates on financial inclusion in the literature. Design/methodology/approach: This scoping literature review rigorously identifies the most relevant research and variables pertaining to financial inclusion and social innovation. Findings: Based upon a scoping literature review, a comprehensive framework of key concepts of financial inclusion, scholarly contributions, countries and variables is presented. Research limitations/implications: Owing to this paper’s methodological approach and its rather theoretical nature, this research seeks to enrich scientific debates pertaining to the empirical data displayed, especially on the case of Colombian. Practical implications: The most central variables that are linked to the theme of financial inclusion are explored, and hence this paper forms a basis for future quantitative studies. Social implications: This research article contributes to public policy making on financial inclusion aimed at reducing levels of socio-economic inequality. Originality/value: In business and management research a degree of conceptual confusion prevails on the theme of financial inclusion. This paper attempts to clarify different types of variables and one country specific case to provide more solid analytical tools for scholars and analysts.

Keywords

• Colombia, financial inclusion, financial exclusion, social entrepreneurship, social innovation