Most adults in the United States (81 percent) were 'fully banked,' meaning that they had a bank account and, in the past 12 months, did not use any of the alternative financial services asked about in the survey. The use of alternative financial services such as money orders, check cashing, and payday loans was essentially unchanged after a years-long decline. Most adults had a bank account and were able to obtain credit from mainstream sources in 2021, but notable gaps in access to basic financial services still exist among Black and Hispanic adults and those with low income.įewer applicants were denied credit in 2021, and the share of adults who were 'very confident' that they would be approved for credit if they applied increased to the highest levels observed since the survey first asked this question in 2015. Factors Affecting Reserve Balances - H.4.1Īccess to financial services from banks and credit unions can be important for people's financial well-being.Industrial Production and Capacity Utilization - G.17.Survey of Household Economics and Decisionmaking.Household Debt Service and Financial Obligations Ratios.Financial Accounts of the United States - Z.1.Statistics Reported by Banks and Other Financial Firms in the.Senior Credit Officer Opinion Survey on Dealer Financing.

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Such policies should, however, be complemented with strategies that enhance efficiency of the key sectors of economy. Policies aimed at financial sector deepening and increasing access to credit are of essence to enhancing economic performance. However, the magnitude of the impact is smaller once factors such as the labour employed and past economic performance of the sectors are taken into account. We find a positive and significant impact of credit on sectoral gross domestic product measured as real value added. This paper investigates the impact of access to bank credit on the economic performance of key economic sectors using sectoral panel data for Kenya. Despite the growing literature on financial development-economic growth nexus, there is paucity of empirical studies that explore the impact of access to credit and economic performance at the sectoral country level, as an increasing number of studies largely focus on cross-country analyses.

Credit economix