The new CGAP book, Access for All: Building Inclusive Financial Systems, provides an optimistic assessment of ten years of microfinance and offers strategies for the future.
What is the link between culture and corruption? Raymond Fisman and Edward Miguel looked at the parking violations of UN diplomats in New York City, the size of UN missions and the ranking of countries in TI's Corruption Perceptions Index. Their conclusion, which many will no doubt take issue with, is that:
A certain amount of corruption is grounded in culture and immune to carrots and sticks.
Aid should be provided with clear targets and aimed at measurable results, and both donors and recipients should be held more accountable for achieved specified goals. This will require specifying up front exactly what a particular aid program is designed to achieve: building so many roads of a particular quality or immunizing a certain number of children. It will also require assessments by independent monitors, not by the aid agencies themselves.
There is growing literature on how social issues are increasingly impacting business environments and decision making. However, it is a sign of the times to see the latest edition of the McKinsey Quarterly include a clarion call for business leaders to pay attention to social issues.
According to Microfinance Times, 75 percent of all active microcredit borrowers in Afghanistan are now women, many of whom use their loans to start businesses. Beauty parlors, tailoring shops, and bakeries are just some of the enterprises these women now own. Their efforts, observers say, are indispensable in the struggle to reverse decades of deprivation in Afghanistan…
This Thursday at 2pm CEPR and Friedrich Ebert Stiftung are hosting an event on The Growth and Development Challenge: What are the Main Drivers to Fight Poverty? Speakers include Victor Tokman (ex-econ advisor to the President of Chile), Prabhat Patnaik (Jawaharlal Nehru University), Danny Leipziger (PREM VP, World Bank) and Mark Weisbrot (CEPR). Kathy Schalch of NPR will be moderating. Free for those of you in DC.
From the lecture notes prepared by Raj Nallari and Breda Griffith, this Friday we review the Balance of Payments.
- Fridays Academy