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How to scale up financial inclusion in ASEAN countries

José de Luna-Martínez's picture
MYR busy market

Globally, around 2 billion people do not use formal financial services. In Southeast Asia, there are 264 million adults who are still “unbanked”; many of them save their money under the mattress and borrow from so-called “loan sharks”, paying exorbitant interest rates on a daily or weekly basis. Recognizing the importance of financial inclusion for economic development, the leaders of the Association of South East Asian Nations (ASEAN) have made this one of their top priorities for the next five years.
 
Last week, the World Bank Group presented the latest data on financial inclusion in ASEAN to senior representatives of the ministries of finance and central banks of all 10 ASEAN member countries (Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam). The session, held in Kuala Lumpur, is one of the joint activities the new World Bank Research and Knowledge Hub and Malaysia is undertaking to support financial inclusion around the world.
 

Weekly wire: The global forum

Roxanne Bauer's picture

World of NewsThese are some of the views and reports relevant to our readers that caught our attention this week.

The Fourth Industrial Revolution: what it means, how to respond
World Economic Forum
We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. In its scale, scope, and complexity, the transformation will be unlike anything humankind has experienced before. We do not yet know just how it will unfold, but one thing is clear: the response to it must be integrated and comprehensive, involving all stakeholders of the global polity, from the public and private sectors to academia and civil society.

Media, discussion and attitudes in fragile contexts
BBC Media Action
Drawing primarily on quantitative data from nationally representative surveys collected for BBC Media Action programming in Kenya and Nigeria, the paper develops and tests the hypothesis that balanced and inclusive media-induced discussion can be a positive force in mitigating attitudes associated with conflict. The results reveal a rich but complicated picture.  We find relatively consistent evidence in both countries that our discussion-oriented media programmes are strongly linked to private discussion among family, friends and others. Evidence from Kenya also suggests that exposure to debate-style programming is potentially linked to public political discussion, but that this relationship is likely to be mediated through other variables such as private political discussion. Finally, in both cases, both private and public discussion is strongly associated with individual attitudes towards conflict. However, the relationship is a complex one and bears further examination.

Learning about learning assessments

Andreas Schleicher's picture
High school students in Latin America review their notes.  Photo: © Charlotte Kesl / World Bank


How do large-scale student assessments, like PISA, actually work? What are the key ingredients that are necessary to produce a reliable, policy relevant assessment of what children and young people know and can do with what they know? A new report commissioned by the OECD and the World Bank offers a behind-the-scenes look at how some of the largest of these assessments are developed and implemented, particularly in developing countries. 

The challenges of widening participation in PISA

Andreas Schleicher's picture
Photo: Nafise Motlaq / World Bank


Since 2000, the OECD’s Programme for International Assessment (PISA) has been measuring the skills and knowledge of 15-year-old students in over 70 countries. PISA does not just examine whether students have learned what they were taught, but also assesses whether students can creatively and critically use what they know.

The path to carbon pricing

Jim Yong Kim's picture
Iron and Steel giant ISKOR's Vanderbijl Park refinery. © John Hogg/World Bank


In just six weeks, world leaders will meet in Paris to negotiate a new global climate-change agreement. To date, 150 countries have submitted plans detailing how they will move their economies along a more resilient low-carbon trajectory. These plans represent the first generation of investments to be made in order to build a competitive future without the dangerous levels of carbon-dioxide emissions that are now driving global warming.

The transition to a cleaner future will require both government action and the right incentives for the private sector. At the center should be a strong public policy that puts a price on carbon pollution. Placing a higher price on carbon-based fuels, electricity, and industrial activities will create incentives for the use of cleaner fuels, save energy, and promote a shift to greener investments. Measures such as carbon taxes and fees, emissions-trading programs and other pricing mechanisms, and removal of inefficient subsidies can give businesses and households the certainty and predictability they need to make long-term investments in climate-smart development.

New landmark OECD PISA study on 'Students, Computers and Learning: Making the Connection'

Michael Trucano's picture
OK, I think I'm developing the outline of something pretty interesting here
OK, I think I'm developing the outline of
something pretty interesting here
The OECD today released a landmark report on students, technology and learning based on data from PISA, the international assessment of 15-year-old school pupils' scholastic performance on mathematics, science, and reading. This new publication presents the most detailed set of data and analysis to date on student access to computers, their use of computers, and learning outcomes (as measured by PISA).
 
Students, Computers and Learning:
Making the Connection
 

 principal author: Francesco Avvisati
Paris: OECD, 2015
 
Here’s an excerpt from the beginning of a related blog post by the OECD’s Andreas Schleicher:
 
"Totally wired. That’s our image of most 15-year-olds and the world they inhabit. But a new, ground-breaking report on students’ digital skills and the learning environments designed to develop those skills, paints a very different picture. Students, Computers and Learning: Making the Connection finds that, despite the pervasiveness of information and communication technologies (ICT) in our daily lives, these technologies have not yet been as widely adopted in formal education. And where they are used in the classroom, their impact on student performance is mixed, at best."
 
Press reports today have (unsurprisingly) not been terribly nuanced or sophisticated in their understanding or analysis of what the OECD report actually says. Witness the Irish Times: "Ireland has one of the lowest rates of internet use in schools in the world but, ironically, it may be doing students more good than harm, according to a global study published on Tuesday" or the BBC: "Computers 'do not improve' pupil results, says OECD". The Register concludes that the main message is "Don't bother buying computers for schools, says OECD report". More sophisticated and substantive takes on these findings will hopefully emerge in the coming weeks. (I don’t know about you, but it seems to me that a more relevant, and practical, directive might be to figure out how to make good use of all of this technology rather than simply to avoid it entirely, but maybe I am a biased observer here.)
 
My very quick summary take on a few of the key findings, for what it might be worth:

​Toward an effective PPP business model: An eight-point plan for closing the infrastructure gap

Thomas Maier's picture
Photo: Wikimedia Commons
The global need for infrastructure is significant, particularly in emerging markets. By consensus estimates from the Organisation for Economic Co-operation and Development (OECD) to the Boston Consulting Group and the World Bank Group, the estimated annual global infrastructure investment need is about US$3.7 trillion – of which only about $2.7 trillion is currently met on an annual basis. 

This much-discussed “infrastructure gap” is large and it is widening. Even if fiscal conditions in developed and emerging economies improve, the need introduced by the infrastructure financing gap is unlikely to be met from public sources alone. This generates an expectation that private capital and user charges must be mobilized to fill these gaps.

But this is an entirely predictable problem, and over many years the international community has made efforts to provide assistance in building public-private partnership (PPP) capacity in emerging markets. Finding ways to leverage private sector investment through sound, consistent and sustained public sector policies should be a focal point for governments around the world.  International financial institutions (IFIs), given their unique relationships with emerging market governments, can and do play an important role. The community of professionals in multilateral development banks (MDBs) is listening; MDBs are willing and able partners.

Of course, stating that idea is one thing; practicing it is another. Here are eight ways that together, we can move from the theoretical to the actual and reach our goals for infrastructure.

Weekly wire: The global forum

Roxanne Bauer's picture
World of NewsThese are some of the views and reports relevant to our readers that caught our attention this week.

 
Exporting corruption: Progress report 2015: Assessing enforcement of OECD Anti-bribery Convention
Transparency International
Transparency International’s 2015 Progress Report is an independent assessment of the enforcement of the Organisation for Economic Co-operation and Development’s (OECD’s) Anti-Bribery Convention. The Convention is a key instrument for curbing global corruption because the 41 signatory countries are responsible for approximately two-thirds of world exports and almost 90 per cent of total foreign direct investment outflows. This is the 11th annual report. It has been prepared by Transparency International’s International Secretariat working with our national chapters and experts in the 41 OECD Convention countries. This report shows that there is Active Enforcement in four countries, Moderate Enforcement in six countries, Limited Enforcement in nine countries, and Little or No Enforcement in 20 countries. (Two countries were not classified.)

The Science of Inequality- What the numbers tell us
Special issue of Science Magazine
This special issue uses these fresh waves of data to explore the origins, impact, and future of inequality around the world. Archaeological and ethnographic data are revealing how inequality got its start in our ancestors. New surveys of emerging economies offer more reliable estimates of people's incomes and how they change as countries develop. And in the past decade in developed capitalist nations, intensive effort and interdisciplinary collaborations have produced large data sets, including the compilation of a century of income data and two centuries of wealth data into the World Top Incomes Database.  It is only a slight exaggeration to liken the potential usefulness of this and other big data sets to the enormous benefits of the Human Genome Project. Researchers now have larger sample sizes and more parameters to work with, and they are also better able to detect patterns in the flood of data.

Weekly wire: The global forum

Roxanne Bauer's picture
World of NewsThese are some of the views and reports relevant to our readers that caught our attention this week.
 

Beyond Propaganda: How authoritarian regimes are learning to engineer human souls in the age of Facebook.
Foreign Policy
Pity the poor propagandist! Back in the 20th century, it was a lot easier to control an authoritarian country’s hearts and minds. All domestic media could be directed out of a government office. Foreign media could be jammed. Borders were sealed, and your population couldn’t witness the successes of a rival system. You had a clear narrative with at least a theoretically enticing vision of social justice or national superiority, one strong enough to fend off the seductions of liberal democracy and capitalism. Anyone who disagreed could be isolated, silenced, and suppressed.  Those were the halcyon days of what the Chinese call “thought work” — and Soviets called the “engineering of human souls.” And until recently, it seemed as if they were gone forever. Today’s smart phones and laptops mean any citizen can be their own little media center. Borders are more open.

Causes and Consequences of Income Inequality: A Global Perspective
International Monetary Fund
Widening income inequality is the defining challenge of our time. In advanced economies, the gap between the rich and poor is at its highest level in decades. Inequality trends have been more mixed in emerging markets and developing countries (EMDCs), with some countries experiencing declining inequality, but pervasive inequities in access to education, health care, and finance remain. Not surprisingly then, the extent of inequality, its drivers, and what to do about it have become some of the most hotly debated issues by policymakers and researchers alike.

Weekly wire: The global forum

Roxanne Bauer's picture

World of NewsThese are some of the views and reports relevant to our readers that caught our attention this week.

The data revolution: finding the missing millions
ODI
For governments wanting to end poverty, steward sustainable environments and foster healthy, thriving populations with the opportunity to earn a decent living, many of the necessary pieces are now in place. They start from a good base. Millions of families have escaped poverty and many million more children are in schools than was the case 15 years ago. Much more is known about successful developmental pathways. And many of the world’s poorest countries are experiencing strong economic growth.  But, finance aside, there is still one key element the absence of which is impeding progress: data. Governments do not adequately know their own people.
 
Economic Coalition of the Willing
Foreign Affairs
or the past decade, a quiet experiment has been underway at the Organization for Economic Cooperation and Development (OECD), the Paris-based body composed of the United States and other advanced market democracies. Although it is often dismissed as sleepy and technocratic, the OECD has found a way to remain relevant in a quickly shifting global landscape, and other multilateral organizations would be wise to pay attention.  The OECD, like numerous other international bodies, must adapt to changing geopolitical dynamics that have left new major global players outside its ranks. Its response is a so-called “key partner” initiative that allows it to engage—and seek to influence—pivotal nonmember states. This method strikes the right balance between maintaining the OECD’s symbolic role as the enforcer of Western norms and meeting its practical need to maintain a foothold on the global stage. 
 


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