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Better Together: The Networked Path to Financial Literacy

Margaret Miller's picture

This post concludes our Closing the Gap: Financial Inclusion blog series, which shares the views of selected experts and practitioners on different financial inclusion topics.

The field of financial literacy and capability has many open questions in terms of priorities, what the most effective interventions are and even basic measurement data and evidence of impact. However, one aspect of this topic where there is growing consensus relates to the importance of multi-stakeholder partnerships that leverage both public and private sector actors, as well as civil society.

As in any significant endeavor that attempts to change or reinforce consumer behaviors (encouraging savings, promoting prompt repayment of loans, taking steps to mitigate risk such as diversification of assets or buying insurance) communicating through multiple channels and partners can strengthen the effectiveness of the message. Figure 1 below shows the many types of stakeholders that may be involved in the development of financial literacy and capability programs and policies. These span the gamut from central banks and ministries of finance to commercial banks, microfinance institutions and other providers, schools, religious institutions and media firms.

Make Trade, Not War in South Asia: Toward Regional Integration

Elizabeth Howton's picture

Can economics trump politics in South Asia, a region fragmented by decades of strife? Will greater regional cooperation and lowering barriers to trade bring harmony along with economic growth?

Those were the questions on the table Thursday as a panel from across the region discussed “Breaking Down Barriers: A New Dawn in Trade and Regional Cooperation in South Asia.”

Most panelists expressed optimism about trade’s pacifying abilities. Moderator Barkha Dutt, an Indian television journalist, opined that “What trade does, in its very ordinariness, is modulate the emotions.” Teresita Schaffer, former U.S. ambassador to Sri Lanka, agreed that “Trade can provide another conversation… and provide reasons why rivalries should not be allowed to get out of hand.”

But which comes first, the chicken or the egg? asked another panelist, Nepali journalist Kanak Dixit. Clearly, he said, it’s the chicken (commerce), because other things have been tried and have not worked. He said that “chicken” will lay two “eggs”: peace and prosperity.

Land Rights and the World Bank Group: Setting the Record Straight

Klaus Deininger's picture

The leasing or purchase of agricultural land in the developing world has become a hot button issue as the planet has grown more crowded and the pressure to stake out more arable land – whether for food or biofuels – grows. At the same time, agricultural productivity in many of the poorest communities around the globe has stagnated and, unless higher crop yields can be attained, far too many people will remain trapped in poverty.  Helping such smallholders catch the wave of rising interest in farmland is a key aim of the Annual World Bank Conference on Land and Poverty, which began Monday. Our theme this year is ‘Land Governance in a Rapidly Changing Environment.”

It’s clear that this year, many stakeholders who are either taking part in the conference or criticizing the event from outside think that global interest in farmland in the developing world is at a tipping point.

How Kenya is using World Bank Group Instruments to Leverage Private Investment in Power

Esohe Denise Odaro's picture

Having spent some of my formative years on the African continent, I can attest to the fact that the frequency of power blackouts desensitized citizenry to the point that power outages were neither a cause of despair nor excitement but just another mundane facet of everyday life. Power outages remain common phenomena throughout most of sub-Saharan Africa owing to various reasons such as low capacity output, over-reliance on volatile sources of energy, outdated machinery, mismatched pricing, energy theft, low collection rates, among other reasons. Over 30 countries in the continent have suffered power shortages in recent years, with detrimental economic effects including lost revenues, typically ranging between 1 and 4 percent of GDP.

Brazil: Redefining 'resettlement' to meet urban challenges

Fabio Pittaluga's picture

Pelourinho, Salvador de Bahia

It is no secret Brazil is undergoing a “renaissance” of sorts. After decades of rough economic times marred by the stigma of deep inequity and social exclusion, Brazil has emerged as an economic powerhouse in the region and globally.

Sustaining such momentum, however, demands and will continue to demand substantial investments in infrastructure. This is particularly true in Brazil’s urban spaces –especially the megacities and a growing number of smaller but important cities and towns-- where more than 80 percent of the country’s population lives.

Less Poor but More Unequal

Otaviano Canuto's picture

Photo: Scott WallaceFirst, the good news: The world has become considerably less poor. Today, 43 percent of people are considered to be living in poverty—that is, living on less than $2 per day—compared to 30 years ago when almost three-fourths of the developing world was doing so. Even more heartening is that extreme poverty—that is, living on less than $1.25 per day to meet the most basic human needs—has declined even more.

The Unintended Consequences of Increases in the Minimum Wage

Ximena Del Carpio's picture

Most countries around the world have some form of minimum wages. Policymakers have often argued that raising the minimum wage increases the income of low-income workers, and therefore can be used as a tool to reduce poverty and inequality. Some policymakers also argue that wage increases can improve workers’ productivity (Levine, 1992; Raff and Summers, 1987) because they lead to increases in work effort, reductions in job turnover and more on-the-job training (Katz, 1987). However, several studies find that increases in minimum wages without commensurate increases in labor productivity could lead to job losses in the formal sector. The main reason provided for this argument is that poor workers—the people expected to benefit from the policy—are more likely to be pushed out of formal employment because they often have limited skills and low productivity, and thus tend to be among the first to be laid off when minimum wages increase.

Using GIS to Manage the Urban Ecosystem

Henry Jewell's picture

Growing up on a farm meant I spent very little time in cities. I felt more at home when surrounded by green than grey. As a kid, I saw cities as noisy, bright, busy and quite frankly, confusing. I always thought to myself why would anyone want to live in them? However, when I grew up, I moved to a city to take advantage of the opportunities it provided. I am not alone. More than 50 percent of the world’s population lives in cities and this number will rise. Cities are hubs of productivity, innovation and vast human capital; but once you live in them you begin to see that they are like any other ecosystem: complex and fragile, whose balance can be easily disturbed. With many cities rapidly growing and evolving, how do you manage this increasing complexity without destroying the ecosystem?

GIS Image.  Source - University of Texas at DallasGeographical Information System (GIS) techniques have proven successful in mapping, analyzing and managing natural ecosystems. It is now time to make use of the same technology to manage, model and design our expanding global system of cities. GIS consists of a proven set of tools that can provide information to leaders at the local and national level to facilitate evidence-driven decision making. It allows us to move beyond 2D paper maps and incorporate everything that lies below, above and around a city to create a 3D digital representation of the city’s ecosystem. By integrating this information into the planning process, it will hopefully lead to harmonized planning across sectors. For example, integrated transport and land use planning and development will allow for economic, social and environmental benefits. More sectors can then be incorporated, with this integration not only happening within the city limits but including the urban periphery, where a lot of urban expansion is currently occurring. This holistic view will allow planners to make cities more livable.


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