Yongbin LU，Xianping ZHOU，M in LI，Wanpeng ZOU

School of Finance，Zhongnan University of Economics and Law，Wuhan 430073，China

1 Literature review

The concept of financial exclusion was first developed by the UK financial geographer Leyshon and Thrift（1993）and gradually many scholars paid attention to it．Foreign scholars have tried to make definition of financial exclusion（Kempson and Whyley，1999；ANZ，2004；Sherman Chan，2004；Gloukoviezoff，2006；European Commission，2008），and the more comprehensive one among them is put forward by the European Commission who argues that the content of financial exclusion should contains the bank exclusion，savings exclusion，loans exclusion and insurance exclusion．A lot of researches are generated by scholars on the causes of financial exclusion which is composed of geography（Leyshon＆Thrift，1993；Kempson＆Whyley，1999；Connoll＆Hajaj，2001），business strategy of financial institutions（Kempson＆Whyley，1999；Sinclair，2001；Carboetal．，2005；Kempsonetal．，2005），IT requirements of financial products and services（Leyshon＆Thrift，1995；McDonnell，2003），the self-exclusion of residents（Kempson＆Jones，2000；McDonnell，2003；Chant Link，2004；Corr，2006；Becket al．，2007），the lack of financial knowledge（RoyMorgan，2003；McDonnell，2003；Gibson，2008），etc.The main causes acting on EU are summarized，which include social factors（instability of financial markets and reinforcement of anti-money laundering，demographic changes，extent of income inequality），supply factors（strict risk assessment procedures，uncertainty of marketing methods，geographical availability，unclarity of product design，public product selection difficulties），demand factors（public faith，concerns about the cost，fear of losing economic control，distrust of financial institutions）．The scholars have also studied the influence factors of financial exclusion which can be summed up as income，social status，transaction cost，economic development level，social culture，characteristics of population，race，family population，degree of optimism，liabilities，education level，housing property and trust in financial institutionsetc.（World Bank，2008a 2008b；FSA，2000；Hogarth and O'Donnell，2000；Jianakoplos and Bernasek，1998；Christiansenet al.，2009；．Ameriks and Zeldes，2000；Puri and Robinson，2007；Jerry Buckland and Wayne Simpson，2008）．Domestic research on financial exclusion started late，mainly involving the definition，status，performance，causes and so on．With more and more financial exclusion problems，the research on it is also increasing．The financial exclusion has been defined by Lin Jin，Xue Jun and Tian Lin（2004a，2004b，2004c），WuWeietal．（2005），Wang Zhijun（2007），Xu Shaojun and Jin Xuejun（2009），Wang Xiuhua（2009），Zhu Yingliet al．（2010），Suiyan Yinget al．（2010），Li Tao（2010），but with no unified conclusion．Many studies have been made by domestic scholars about the status and performance of the financial exclusion．Xiu Hua and Qiu Zhaoxiang（2010）analyzed the status of financial exclusion in urban and rural areas of China．Xu Shengdao and Tian Lin（2008），Gao Peixing and Wang Xiuhua（2011）discussed the regional and spatial difference of financial exclusion in rural areas of our country．Wang Tianlin（2011）studied the urban and rural duality characteristic of the financial exclusion in China．Tian Lin（2007）analyzed the influence factors of spatial differences of financial exclusion in China．Tian Jie and Tao Jianping（2011），WangWei（2011）respectively established the financial exclusion index and financial inclusion index to indicate the status of the financial exclusion．Xu Shaojun，Jin Xuejun（2009）and Li Tao（2010）conducted research on the sta-tus of the financial exclusion on the basis of survey data．Lu Yongbin and JiQianqian（2014）obtained the comprehensive score and rank of China's rural financial exclusion by making the use of the principal component analysis method．For the causes of the financial exclusion，He Dexu and Rao Ming（2008）carried out the analysis from the angel of imbalance of supply and demand in financial market of China's rural areas；Gao Peixing and Wang Xiuhua（2011）emphasized income，financial efficiency，employment and level of agricultural modernization；Tian Lin（2011）focused on technology，income，education and other factors．Liu Junrong（2007）clarified his opinion from the perspective of bank liquidity preference，operation mode and organizational change in every stage during the development of banks．Zhu Yingli（2010）pointed out that it was the weak economic foundation，the changes of banking system and the transformation of bank and enterprise system that cause the financial exclusion in central region．Overall，the overseas research on financial exclusion has formed a system，but the domestic study of financial exclusion is not enough and systematic．Domestic research is made mainly by using cross section data or panel data of financial resources，which are not rich enough in empirical research．Since different types of financial institutions provide different financial services and focus on different customer groups and regions，we need to distinguish between the types of financial institutions in examining the status of the financial exclusion．Moreover，even if it is the same type of financial institutions，the capacity of providing financial service and products varies much in different levels of branches，therefore，it is necessary to consider the levels of financial institutions in examining the financial exclusion．The financial exclusion is common in many countries and regions and will lead to serious economic and social problems．This paper tries to use the panel data of types and levels of the national financial institutions to make an in-depth analysis of the financial exclusion issue．

2 The regional reality of financial exclusion

2.1 The data description of types and levels of the branchesGiven the absolute leading position of assets and nodes of the banking financial institutions in the financial system，using data of banking financial institution nodes to analyze financial exclusion issue is strongly representative．Since the commercial and the rural bank nodes（including rural credit cooperatives and rural cooperative banks）account for the highest proportion，we mainly discuss nodes of these two types of financial institutions．A large difference exists in the regions where two kinds of banks offer service as well as the financial services and products．As a result，by analyzing the distribution，we can examine regional characteristic of financial exclusion．The organization structure of China's banking industry is usually＂head office-branch-sub-branch-outlet＂．Branches and above level nodes can not only provide the general loan business，but also handle settlement business，credit card business，bill business，cash and the majority of foreign exchange business．Most demand of financial service from the public can be satisfied in the branch while sub-branches and savings offices，acting as simplified nodes，can only provide basic business and cannot meet the complete demand from the public．Thus，it may give rise to such situation：the types and number of nodes remain unchanged，the level declines，and the recessive financial exclusion comes into being．So we need to bring the levels of financial institutions into consideration during the analysis of the financial exclusion problems．We apply the financial license information of the China Banking Regulatory Commission（CBRC）to gather data of types and levels of financial institutions nodes．The financial institutions contained in financial license information system includes：A-the policy bank，B-the commercial bank，C-the rural cooperative bank，D-the urban credit cooperative，E-the rural credit cooperative，F(xiàn)-the fund mutual cooperative，J-the asset management company，K-the trust company，L-the financial company，M-the financial leasing company，N-the auto financial company，P-the currency brokerage company，Q-Loan Company，Z-the other financial institutions．We focus on the commercial bank（class B）and the rural bank（class C and class E）．The data of financial license information by CBRC include the aggregate information and statistics of the financial institutions classified by the nature，category，organization and region．A single financial institution includes the following financial elements：name，date of approval，address，organization code，the license issuing agency，serial number and issuing date．According to the regulation of the financial license institution code compiling rule（trial），the organization category of commercial banks includes：H-head office，G-the business department of head office；B-the tier-one branch，K-the business department of the tier-one branches，L-the second level branch，M-the department directly under the branch，N-the business department of second-level branch，S-the sub-branch，U-the small local branch，V-business office，X-the other outlets．The organization categories of the rural cooperative bank include：H-head office，S-branch，U-the small local branch，V-savings office，X-the other outlets．The organization categories of the rural credit cooperative include：H-provincial rural credit cooperatives（autonomous regions and municipalities directly under the central government），B-the regional（city）association，S-the county（city）association，cooperative（county），T-the credit cooperative，U-the credit cooperative，V-the saving office，X-the other outlets．We divide the commercial banks and the rural banks into two types：the branch and above（the node that is about level U，V，X of the commercial bank，the rural credit cooperative and rural cooperative bank），the basic outlet（the node that is level U or V or X of the commercial bank，the rural credit cooperative，rural cooperative bank）．In order to investigate the regional characteristics of financial exclusion，we divide the country into eastern，central and western areas．The eastern area includes 11 provinces or municipalities：Beijing，Tianjin，Hebei，Liaoning，Shanghai，Jiangsu，Zhejiang，F(xiàn)ujian，Shandong，Guangdong and Hainan．The central area includes 8 provinces： Shanxi， Jilin， Heilongjiang，Anhui，Jiangxi，Henan，Hubei，Hunan．The western area includes 12 provinces or municipalities：Inner Mongolia，Guangxi， Chongqing， Sichuan， Guizhou， Yunnan， Tibet，Shaanxi，Gansu，Qinghai，Ningxia，Xinjiang．

2.2 The number of financial institution nodes and financial exclusion

2.2.1 The number of financial institution nodes is increasing on the whole but the distribution is uneven．From 1998 to 2012，the number of financial institution nodes on average increased year by year．From the angel of region，the eastern and western areas have a faster growth level which is 163．81%and 135．32%，respectively，while it is only 78．85%in the central China．A big difference exists among the eastern area，central area and western area．Overall，the number around the country grows rapidly．The situation of financial exclusion gets eased to some extent，but the regional difference of financial exclusion becomes more serious．

Table 1 The number of financial institution nodes from 1998 to 2012

2.2.2 The density of financial institution nodes is on a steady rise and a large gap exists between the eastern area and the Midwest area．Here the ratio of the number of the financial institution nodes to the population and the area size will be taken into account，which is not in calculating the number of financial institution nodes，to arrive at the density of financial institutions so as to further investigate the situation of financial exclusion in all regions．Table 2 shows that the growth of the density of financial institutions from 1998 to 2012 was steady on average，and it increased by 57．57%in 2012．However，the density of different regional financial institutions varies greatly．The average density of financial institutions in eastern area is about seven times that of the Midwest where financial exclusion situation is more serious．

Table 2 Density of financial institution nodes from 1998 to 2012

2.3 The financial exclusion from different types of financial institutionsThe commercial banks mainly serve the area that has a higher level of economic development while the rural banks are for the county economy and the below，taking more participation in the development of the rural finance．At the same time，the commercial bank is able to offer more comprehensive financial products and services for it is relatively rich in assets．Therefore，the area，especially the rural area that has less commercial bank nodes suffers a more serious problem of financial exclusion．

2.3.1 The commercial bank in the eastern area accounts for the highest proportion．As can be seen from Table 3，from 1998 to 2012，the proportion of the commercial bank nodes gradually declined from 1998 to 2012，with the proportion in 2012 lower by 10．13%than that in 1998．It reflects that the category of the national financial institutions is becoming richer．The proportion of the commercial bank nodes still accounts for a large part，and it was 74．82%in 2012．The situation of financial exclusion turns to be more serious with the rate ranging from 83．31%in the eastern area，71．39%in the central part to 68．53%in the western area．

Table 3 The rate of the commercial banks from 1998 to 2012

2.3.2The proportion of the rural banks in the Midwest area is high．As can be seen from Table4，the percentage of the rural institutions has been high in the central and western areas．In 2012，the percentage was 25．12%in the central region，29．13%in the western region and 14．79%in the eastern region．The rural institutions still only act as the supplement to commercial banks，accounting for a quite small part，and offer the limited financial services．The situation of financial exclusion in the Midwest area is more serious as the rural banks accounting for a larger share．

Table 4 The rate of the rural banks from 1998 to 2012

2.4 The financial exclusion of different levels of financial institutionsThe financial institution is profit-seeking and it needs to take the comprehensive factors into consideration in determining the level of financial institution nodes．Compared with the branch and above，the basic outlets provide the limited category of services．The larger the basic outlets rate is，the more prominent the financial exclusion issue is．

2.4.1 The low proportion of the basic outlets of commercial bank．As can be seen from Table 5，the average proportion of the basic outlets of commercial banks declined，and the financial exclusion eased just from the perspective of the commercial banks．The number of the basic outlets of commercial bank in western region accounts for the highest proportion，followed by the central region and the eastern region，and the financial exclusion increases from the west to the east．

Table 5 The proportion of the basic outlets of commercial bank from 1998 to 2012

2.4.2The high proportion of the basic outlets of rural bank．As you can see in Table6，from 1998 to2006，the proportion of basic outlets of rural institution was in a steady state especially after 2010．The number in 2012 on average was89．46，while the average rate in areas from east to west was 88．07%，89．04%and 90．91%．No big difference exists．Judging from the high proportion，the institutions in rural areas mainly provide basic service，and the problem of financial exclusion is serious．

Table 6 The proportion of the basic outlets of rural institution from 1998 to 2012

As a whole，the number of financial institution nodes continues to increase，but with uneven distribution；the density of financial institutions increases steadily and the gap between the eastern and western regions is huge；the commercial banks of the eastern region account for the highest proportion but the rate of commercial basic outlets is low and the rate of the rural basic outlets is relatively higher，and the proportion of the Midwest rural banks is high．Even though financial exclusion eases，large differences still exist between different areas and the situation is rather critical in rural areas，especially the financial exclusion in western rural areas is worst．

3 The analysis of different features of financial exclusion in different areas

3.1 Sample selectionWe will carry out the study of influence factors of financial exclusion from the types and the levels of the whole country's financial institutions．The explained variables are composed of per capita financial institution outlets（ALL＿POP），the rate of commercial bank outlets（B＿RATIO），the rate of rural bank outlets（CE＿RATIO），the rate of commercial bank basic outlets（BPRI＿RATIO），the rate of rural bank basic outlets（CEPRI＿RATIO）．The explanatory variables are composed of three categories．The first category is the bank opportunity index which consists of the per capita GDP（GDP＿POP），the per capita savings deposits（DEP＿POP）and the per capita consumption（CONSUMER＿POP）．Goldberg（1990）pointed out that the banks decide whether to set up more branches on the possible opportunities in that area．The higher the POP is，the more prosperous the economy is．In these areas，as the capital is transferred，the bank can do more in both ends．Given that the Chinese residents tend to save before consumption，the public may also hold a large amount of savings even in rural areas，which will provide enough sources of funding for the bank．With the scale of non-cash payment developing bigger and bigger，the per capita consumption of the larger areas may need more financial institutions to provide service outlets．The second category is the government intervention index which includes the per capita expenditure（GOV＿POP）and area scale（Area）．Since the China's government has great impact on economic activities，the rate of financial expenditure and gross domestic product measure the government economic intervention in each area．In addition，as the bank，offering products with public attributes，more or less with state-owned capital background，vulnerable to government intervention，would be required to complete the task of a complete coverage of ensuring the people's basic financial demand．Therefore，in order to improve the coverage rate of the banking branch，the banks may increase its branches in the vast area to ensure the geographic distance for the residents to get services．In addition，we need to take into account of the hidden financial exclusion，that is，the residents can get the service of the bank nodes，but have no opportunity to enjoy the more advanced and complex services．People with higher education tend to require more professional services and the bank needs to establish institutions equipped with comprehensive functions to satisfy the public demand．Therefore，we add the education level（EDUSTU＿POP），measured in the number of college students in permillion of population．The samples are collected from China's 31 provinces，cities and autonomous regions（except Hong Kong，Macao and Taiwan）and the time interval is from 1998 to 2012．The explained variable data are gathered from the website＂Financial License Information Base＂of China CBRC．We use dynamic panel model to make an analysis with the data of other variables coming from China Statistical Yearbook，the National Bureau of Statistics website and CEInet Statistics Database．

3.2 The empirical results and analysis

3.2.1 The influence factor of per capita financial institution nodes．The regression results in Table7 for per capita financial institutions nodes in different regions show that lagged explanatory variable L1 results are obvious and the current explanatory variable is significantly affected by the previous one．The factors of per capita gross domestic product，area of different region，the per capita consumption，and the number of college students in permillion population impose impact on per capita financial institution outlets across the country．The area of the eastern area，per capita GDP and per capita consumption in the central area，per capita savings deposits in the western area，all influence the per capita financial institutions outlets in different regions，respectively．Moreover，the number of college students in per million population exerts more prominent effects among the factors above．Resting on the geographical advantages and with the increasing number of branches，the coverage of it will be improved and more opportunities to get financial services will be available to the eastern residents．The level of economic development and consumption，which play a great role in central area，enable the residents to get the financial services accordingly．On account of the backward financial development in the western region，financial institutions rely to a great extent on savings，and more nodes will be set up because of the high savings demand．In addition，the local education level is an important cause of the recessive financial exclusion，and in the region with higher levels of per capita education，residents ask for more professional financial services，therefore financial institutions will establish more nodes．

3.2.2 The influence factors of financial exclusion from different categories of financial institution outlets。Table8 shows the regression results on the commercial banks in different areas．From a national point of view，all the explanatory variables except the education level exert significant effects on the number of commercial banks．Among them，the per capita government spending and per capita consumption have a positive impact while the per capita GDP，the area of regions and per capita savings deposit have a negative impact．From different regions，the area scale，per capita government spending and the number of college students in per million population have obvious negative effect on the number of commercial banks in the eastern area，and the explanatory variables except the area scale have significant influence in central part，of which the per capita GDP，the per capita savings deposit and the number of college students in one million exert negative influence．In addition，the per capita government spending and per capita consumption exert an effect in an opposite way，however，only the education level influences the number of commercial banks in the western region．

Table 8 The estimation results of the rate of commercial banks

Table 9 shows the regression results of influence factors on the rural institutions in different parts．From a national point of view，the factors of per capita GDP，per capita government spending，per capita consumption and the number of college students in one million population affect the number of the rural institutions，among them，the per capita GDP and the number of college students in one million population have a positive effect while the other two have a negative effect．From the angel of different regions，the per capita GDP and the area scale produce a negative effect，while the per capita consumption has an opposite effect in the eastern area，the influence of the per capita GDP，per capita savings deposits and the number of college students in one million population is positive and the function of the per capita government spending and per capita consumption is negative in the central part，however， in western part， only the number of college students in one million population has a positive effect．

Table 9 The estimation results of rural institutions

3.2.3 The factor of financial exclusion from various levels．Table 10 shows the regression results of influence factors on basic outlets of commercial bank in different parts of the provinces．From a national point of view，the factor of per capita consumption brings a positive impact on the number of the basic outlets of commercial bank while it is the other way around for the factor of per capita gross domestic product．Regionally，the impact of the explanatory variables of the eastern region on the basic outlets of commercial bank is not so obvious，and per capita consumption of the central region produces a negative effect on them，while that of the western affects the commercial banks positively．

Table 10 The estimation results of the basic outlets of commercial bank

Table 11 shows the regression results on basis of the basic outlets in rural areas in different parts of the provinces．From a national perspective，the per capita gross domestic product，the area scale，the per capita government spending，and the number of college students in permillion population significantly affect the number of rural basic outlets in eastern part，among the factors mentioned，the first two have a positive effect and the latter two have a negative effect．From different regions，the explanatory variables except the constant term have significant influence in eastern area，and the area scale，per capita consumption and the number of college students in one million，exert positive influence．In addition，the per capita GDP，per capita savings deposit and per capita government spending have an effect in a opposite way；however only the per capita government expenditure negatively influences the rural basic outlets in central part；GDP per capita，the per capita deposits，per capita government spending，per capita consumption，the number of college students in per one million play a great role in the western region，and among these factors，the first two have a positive effect，nevertheless the latter three have a negative effect on the number of the rural basic outlets．

Table 11 The estimation results of the basic outlets of rural institution

4 Conclusions and discussions

Firstly，when it comes to the issue of financial exclusion，types and levels of financial institutions should be considered．Different types of institution mean different types of exclusion，and different levels of institutions also mean different levels of exclusion．China Banking Regulatory Commission releases financial license including the types and levels of financial institutions which could be a help for the analysis of financial exclusion from the perspective of different types and levels．We find that in recent years，the overall number of nodes keeps growing，but the severe financial exclusion still exists in different areas．Nationwide，a high level of economic development，a large area，high per capita consumption levels and a large number of college students in permillion populations，all mean more nodes of financial institutions．The factors which influence the number of the nodes vary，that is，area is more important for the eastern area and the economic development and the per capita consumption are rather important factors for the central area，then the per capita deposits are considered more for the western area in dealing with financial institution nodes．Secondly，the number of commercial bank nodes in different types of financial institutions still occupies a large proportion while the rural nodes take a small proportion．There is a big difference between commercial bank nodes and rural nodes，and different types of commercial nodes result in the financial exclusion situation．For Commercial Bank，the higher degree of government involvement and the per capita consumption，the lower level of economic development and per capita savings rates will lead to increasing demand for commercial bank nodes，and the urgent need for the services of commercial banks．For the rural institutions，the higher level of economic development，a broad area，a lower degree of government involvement and lower education levels boost the increase of the number of rural nodes．Finally，for different levels of financial institutions，the proportion of the number of commercial banks and rural basic outlets are in a relatively stable state；although there are slight fluctuations，the overall trend is that the coverage of the commercial banks is small and rural basic outlets account for a large share．Then，the financial services provided by the business banks are more comprehensive，but the rural institutions provide the basic financial services only．The lower levels of economic development and high per capita consumption levels lead to the increase of the proportion of commercial bank basic outlets．And higher level of economic development，a large area and a lower degree of government involvement and the per capita level of education in rural areas will increase the proportion of such outlets．It is necessary for the western area to establish rural basic outlets，while the central and eastern regions need to set up fully functional branches．The wide spread of financial exclusion and the recessive financial exclusion will increase social unfairness and hamper the development of economy．Based on conclusions above，we think it is necessary to reduce the financial gap among the eastern，the western and central regions to promote coordination of different types of financial institutions，improve financial service level of the Midwest，and popularize financial knowledge．This article employs dynamic panel data to perform the regression analysis，and in the future，spatial panel data can be used to make an analysis．In different regression equations，for the same explained variables，conclusions of different areas vary a lot，and factors that influence types and levels of financial institutions in different areas can be different，policy，for instance．Further studies are needed in the future．

［1］GAO PX，WANG XH．Regional differences and influencing factors of rural financial exclusion in China based on the empirical analysis of provincial panel data［J］．Agricultural Technology Economy，2011（4）：93－102．

［2］JIN XJ，TIAN L．The analysis of regional financial discrepancies from an angle of financial geography［J］．Journal of Henan Normal University，2004（2）：37－40．

［3］LI CX，JIA JR．A research on the extent of financial exclusion in China based on the construction and measurement of financial exclusion index［J］．Modern Economic Science，2012（2）：9－15．

［4］LI CX，JIA JR．A study on influence factor of financial exclusion based on the farmers' perspective［J］．Modern Finance and Economics2013（4）：21－29．

［5］LIT，WANG ZF，WANG HG，et al．A study on the status of financial exclusion of city residents in China［J］．Economic Research，2010（7）：15－30．

［6］LV YB，JI QA．Analyzing spatial effect of regional disparity of rural financial exclusion in China［J］．Hubei Agricultural Science，2014，53（19）：4745－4750．

［7］TIAN J，TAO JP．The effect of rural financial exclusion on the income gap between urban and rural areas in China based on the empirical analysis of panel data from 1578 counties（city）［J］．Journal of China＇s Economic Problems，2011（5）：56－64．

［8］TIAN LI．An analysis of the influence factors of spatial difference of financial exclusion in China［J］．Journal of Finance and Economics，2007（4）：107－119．

［9］XU SJ，JIN XJ．Analysis of the factors that affect financial exclusion in farmers--Taking Zhejiang Province as an example［J］．China Rural Economy，2009（6）：62－72．

［10］ZHU YL，LIU GH，LI XJ．Analysis of cause and measurement of financial exclusion in central area［J］．Financial Theory and Practice，2010（2）：70－74．

［11］ANZ．A report on financial exclusion in Australia［R］．Australia and New Zealand Banking Group Limited，2004（11）：1－163．

［12］BECK T，A Demirguc-Kunt，MS and Martinez Peria．Reaching out：Access to and use of banking services across countries［J］．Journal of Financial Economics，2007（85）：234－266．

［13］CARBO S，GARGENER EP，MOLYNEUX P．Financial exclusion［M］．Palgrave MacMillan，2005（5）：1－208．

［14］CONNOLLY C，HAJAJK．Financial exclusion and social exclusion［R］．Financial Services Consumer Policy Centre UNSW，2001（3）．

［15］CORR C．Financial exclusion in Ireland：An exploratory study＆policy review［J］．Dublin：Combat Poverty Agency，2006（39）：1－207．

［16］European Commission．Financial services provision and prevention of financial exclusion［R］．Directorate-General for Employment，Social Affairs and Equal Opportunities，Brussels：European Commission，2008（3）：1－16．

［17］Gloukoviezoff G．From financial exclusion to over-indebtedness：The paradox of difficulties for people on low income［M］．New frontiers in Banking Services：Emerging Needs and Tailored Products for Untapped Markets，2007（1）：213－245．

［18］Jerry Buckland，Wayne Simpson．Analysis of credit constraint and financial exclusion with Canadian microdata［R］．Working Paper，2008（5）：1－26．

［19］Kempson E，C Whyley．Understanding and combating financial exclusion［J］．Insurance Trends（The Association of British Insurers），1999（21b）：18－22．

［20］Leyshon A，Thrift N．Geographies of financial exclusion：Financial abandonment in Britain and the United States［J］．Transactions of the Institute of British Grographers，1995（20）：312－341．

［21］McDonnell S．Money Talks：Overcoming the financial exclusion problems faced by indigenous Australians［J］．Australian Social Policy Conference，2003．

［22］Sherman Chan．Financial exclusion in Australia［R］．The Third Australian Society of Heterodox Economists Conference，2004．

［23］Sinclair SP．Financial exclusion：An introductory survey［R］．Center for Research into Socially Inclusive Services，2001．

［24］World Bank．Banking the poor：Measuring bank access in 54 countries［R］．Washington，DC：The World Bank，2008（12）：1－107．

［25］World Bank．Finance for all：Policies and pitfalls in expanding access［R］．Washington，DC：The World Bank，2008（2）：1－300．