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Are you really Financially Excluded if you Choose not to be Included? Insights from Social Exclusion, Resilience and Ecological Systems

Published online by Cambridge University Press:  26 November 2015

FANNY SALIGNAC ,
KRISTY MUIR  and
JADE WONG
FANNY SALIGNAC
Affiliation:
Centre for Social Impact, University of New South Wales, Suite 16.01, 6 O’Connell Street, Sydney 2000 NSWAustralia email: f.salignac@unsw.edu.au
KRISTY MUIR
Affiliation:
Centre for Social Impact, University of New South Wales, Suite 16.01, 6 O’Connell Street, Sydney 2000 NSWAustralia email: k.muir@unsw.edu.au
JADE WONG
Affiliation:
Centre for Social Impact, University of New South Wales, Suite 16.01, 6 O’Connell Street, Sydney 2000 NSWAustralia email: jade.wong@unsw.edu.au
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Abstract

Around one in five people in developed countries are ‘financially excluded’. But how meaningful is this when the current definition does not differentiate between those who choose to be excluded and those who are forced to be? This conceptual paper draws on frameworks from social exclusion, resilience and ecological systems theory to critique the current definition of financial exclusion and to introduce an alternative concept. The paper argues that the emphasis of extant literature on an access-point approach has isolated the context surrounding financial exclusion and contributed to simplifying the phenomenon. It puts forward the need for a change in the way financial exclusion is conceptualised in developed countries to take broader contextual settings and a more holistic approach into account and it suggests that a shift to financial resilience may be a way forward.

Type
Articles
Information
Journal of Social Policy , Volume 45 , Issue 2 , April 2016 , pp. 269 - 286
Copyright
Copyright © Cambridge University Press 2015 

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