Financial Development and Financial Inclusion (FDFI)

  • September 30
    to October 4, 2019

  • Asunción, Paraguay

  • Spanish and English

  • Registration until August 30


CEMLA, Banco Central del Paraguay and the International Monetary Fund.


This course explains the macroeconomic relevance of financial development and inclusion. Beginning with an analysis that defines the role of finance in the economy, the course reviews the theoretical and empirical literature on the impact of finance on macroeconomic performance and growth. It also addresses policies to encourage financial development (market-enabling policies) and limit its potentially destabilizing effects (market-harnessing policies). The course introduces financial inclusion as an integral dimension of financial development—a perspective that has only recently received proper attention because for many years the discussion instead centered on the concept and measurement of financial depth. The course reviews the indicators currently used to measure financial inclusion, its distinct macroeconomic impact, and the main policy strategies usually pursued.


Upon completion of this course, participants should be able to: (i) Measure the degree of financial development and inclusion for a country or countries using a wide range of standard indicators; (ii) Identify the shortcomings of various indicators and recognize the possible need to collect more detailed microeconomic data; (iii) Use a simple analytical model to predict the likely outcomes of different policies on financial inclusion; (iv) Assess policy options and strategies for financial development and inclusion from a macroeconomic perspective by identifying potential tradeoffs and possible impediments; and (v) Formulate a strategy for policies to support financial development in a country, taking into account initial conditions and links between the financial sector and the macroeconomy.

Aimed at

Mid-level to senior officials from central banks and government agencies dealing with regulation of the financial sector. Preference is given to applicants working on issues directly related to financial development and inclusion.


Luis Arturo Jiménez Ramírez
Manager of Technical Meetings
Phone: +52 (55) 5061-6679