<!-- Start of picture text --> Financial resilience<br>Financial inclusion is not an end in itself but a means to an end—when people have a<br>safe place to save money as well as access to credit when needed, they are better able to<br>manage risks. To better understand how financially resilient people around the world are<br>to unexpected expenses, the 2014 Global Findex survey asked respondents how possible<br>it would be for them to come up with money in the case of an emergency. Specifically,<br>the survey asked how possible it would be—very possible, somewhat possible, not very<br>possible, or not at all possible—to come up with an amount equivalent to 1/20 of gross<br>national income (GNI) per capita in local currency within the next month. It also asked<br>respondents what their main source of funding would be.<br>Globally, 76 percent of adults reported that FIGURE 3.13<br>Possibility of coming up with emergency funds<br>it would be possible to come up with this<br>Adults by reported likelihood of being able to raise emergency funds (%), 2014<br>amount, while 22 percent reported that it 0 20 40 60 80 100<br>would be not at all possible (figure 3.13). 12 In<br>East Asia & Pacific<br>high-income OECD economies 83 percent<br>Europe & Central Asia<br>of adults reported that it would be possible,<br>while in developing economies 74 percent High-income OECD economies<br>Latin America & Caribbean<br>did—a difference of only 9 percentage points.<br>But there are more striking differences in Middle East<br>the degree to which people thought it would South Asia<br>be possible. In both high-income OECD Sub-Saharan Africa<br>economies and East Asia and the Pacific, Very Somewhat Not very Not at all<br>for example, just over 80 percent of adults possible possible possible possible<br>reported that it would be possible to come Note: next month. The categories do not sum to 100 percent because of “don’t know” and “refuse” answers. Data refer to the ability to come up with an amount equivalent to 1/20 of GNI per capita in local currency within the<br>up with the funds. But while 48 percent in Source: Global Findex database.<br>high-income OECD economies said that<br>it would be very possible to do so, only 33 percent did in East Asia and the Pacific. The<br>Middle East had the smallest share of adults reporting that it would be possible to come<br>up with the money, at only 56 percent.<br>In both high-income OECD and developing economies the share of men reporting that<br>it would be possible to come up with the money was about 5 percentage points higher<br>than the share of women doing so. Not surprisingly, there were also differences by income:<br>adults in the richest 60 percent of households within economies were 18 percentage<br>points more likely on average than those in the poorest 40 percent to report that it would<br>be possible to come up with the money. This finding holds in both high-income OECD<br>and developing economies.<br>Among those saying that it would be possible to come up with the funds, what is the<br>main source they would turn to for the money? Worldwide, three-quarters of this group<br>reported that either savings or family and friends would be their main source (figure 3.14).<br>But while in high-income OECD economies 56 percent cited savings as their main source,<br>followed by 15 percent citing family and friends, in developing economies people were<br>on average equally likely to cite savings and family and friends as their main source. East<br>Asia and the Pacific stands out among developing regions, however: in this region, similar<br>to high-income OECD economies, 52 percent of those reporting that it would be possible<br>THE GLOBAL FINDEX DATABASE 54<br><!-- End of picture text -->