Detection of Financial Inclusion Vulnerable Rural Areas through an Access to Cash Index: Solutions Based on the Pharmacy Network and a CBDC. Evidence Based on Ávila (Spain)

Résumé

The ability to access quality financial services and cash has been indicated by variousorganizations, such as the World Bank or UN, as a fundamental aspect to guarantee regionalsustainable development. However, access to cash is not always guaranteed, especially in ruralregions. The present study is based in the Ávila region of Spain. A parameter called the “access tocash index” is constructed here. It is used to detect rural areas where the ability to access cash andbanking services is more difficult. Based on the “access to cash index”, two sustainable solutions areproposed: The first (in the short term), based on extending access to cash, takes advantage of theexisting pharmacy network. With this measure, a notable reduction of more than 55% of the averagedistance required to access this service is verified here. The second is based on the implementationof a central bank digital currency. Here, the results show an acceptance of 75%. However, it isknown that elderly people and those without relevant education and/or low incomes would reject itswidespread use. Such a circumstance would require the development of training and informationpolicies on the safety and effectiveness of this type of currency.