Syndicate content

April 2012

How to Catalyze Financial Inclusion through Commitments and Strategies

This post is part of our Closing the Gap: Financial Inclusion blog series, which shares the views of selected experts and practitioners on different financial inclusion topics. Join the conversation by tuning in on Thursday, April 19 or ask a question now in EnglishFrench, Arabic or Spanish.

Millions in the developing world are blocked from economic opportunity by their limited access to financial products and services.  Consequently, financial inclusion is increasingly a policy priority for governments and financial regulators, many of whom see it as a complement to their financial stability goals. To date, over 60 developing countries have committed to financial inclusion reforms.  But experience has taught us that putting expansion of financial services as a priority is only a start, and that there are other factors to consider in order to move forward towards full financial inclusion that benefits individuals, firms and the economy:

A commitment to strategic reform is needed: Surveys confirm that comprehensive reform programs and clear mandates can accelerate progress towards financial inclusion. Regulators with a financial inclusion strategy are likely to have more financial inclusion activities under their purview and more resources and staff dedicated to working on these matters. Robust regulatory frameworks (which, for example, provide a flexible or graduated approach to addressing concerns regarding Anti-Money Laundering and Financing of Terrorism) can more effectively catalyze the private sector response that is needed to expand financial inclusion. For example, reforms that strengthen financial infrastructure underpin the introduction of low cost and lower risk products and delivery models that are critical to expanded financial inclusion.

Where the Cloud Forest Meets the City

Julianne Baker Gallegos's picture

Puntarenas, Cosa Rica

Standing in the middle of the cloud forest in my home country of Costa Rica as a child I made the choice to dedicate my life to protecting the environment. Back then, the first image that came to mind when thinking about biodiversity conservation was definitely not that of a flourishing city. Fast forward 20 years and you’ll find the same environmentalist sitting in front of a computer in an office working on the challenges cities face as a result of climate change. What is a biologist doing working on cities? Well, I’m basically doing what I promised myself to do as a child… just from a different angle and in an apparently less exotic setting.

Emerging Markets Lead in Job Recovery

Otaviano Canuto's picture

Photographer: Anvar Ilyasov, 2002One of the most distressing aspects of the frail economic recovery from the global crisis has been lagging job creation. In developed and developing countries alike, millions of people remain unemployed (some 200 million by ILO estimates), and many who still have jobs live in fear of losing them or seeing their incomes and benefits stagnate. Fortunately, the worst may be over in several parts of the world.

2012: Mega Election Year, Mega Chance for Journalists?

Anne-Katrin Arnold's picture

Close to 60 countries are planning elections this year. Close to 60 chances to change political fates, 60 occasions to uphold democracy by exercising democratic rights. The number of elections that will be truly fair and equal is likely to be lower. Election fraud or election irregularities are rampant problems, and sometimes voters complain about hurdles to free elections even in old democracies. We will learn and see a lot this year, and many new and old problems of electoral systems will come under renewed scrutiny. Election monitoring is an opportunity for development groups to have an impact – and sometimes it’s a matter of media development.

Getting to Sustainable Development, Inclusively and Efficiently

Rachel Kyte's picture

Read this post in Français, Español

Sustainable development is built on the triple bottom line: economic growth, environmental stewardship, and social development - or prosperity, planet, people. Without careful attention to all three, we cannot create a sustainable world.

In the 25 years since sustainable development was coined as a term, there has been progress, but the pathway to sustainable development must now be more inclusive green growth.

Making small gains loom large: A review of Rosenzweig’s review of Poor Economics

Berk Ozler's picture

Suppose that you’re told that a program reduced the rate of dropping out of school among 15 year-olds by 17% and this reduction was statistically significant. You are also told that the same figure among 12 year-olds is 38%. You would likely take note. Suppose now you’re told that these are the effects of a conditional cash transfer program, where the dropout rate among the control group is 37.7% and 16.8%, respectively for ages 15 and 12, thus the absolute effect sizes are 6.4 percentage points in each case.


Pages