Publications

FINANCIAL LITERACY AROUND THE WORLD: INSIGHTS FROM THE STANDARD & POOR’S RATINGS SERVICES GLOBAL FINANCIAL LITERACY SURVEY

17 Jan 2020
  • Leora Klapper
  • Annamaria Lusardi
  • Peter van Oudheusden

Without an understanding of basic financial concepts, people are not well equipped to make decisions related to financial management. People who are financially literate have the ability to make informed financial choices regarding saving, investing, borrowing, and more. Financial knowledge is especially important in times where increasingly complex financial products are easily available to a wide range of the population. For example, with governments in many countries pushing to boost […]

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NONBANK E-MONEY ISSUERS VS. PAYMENTS BANKS: HOW DO THEY COMPARE?

08 Jan 2020
  • Denise Dias
  • Stefan Staschen

A key regulatory enabler for building inclusive digital financial services is creating a special licensing window for electronic money issuers (EMIs). Because EMIs have a lower risk profile than banks, they require less regulatory oversight. A special licensing category that recognizes that their role is to store customer funds converted into e-money held in basic transaction accounts, not to extend credit based on such funds, can open the DFS market […]

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PATHWAYS TO PROSPERITY: RURAL AND AGRICULTURAL FINANCE STATE OF THE SECTOR REPORT

17 Dec 2019
  • Matt Shakhovskoy
  • Clara Colina
  • Mikael Clason Höök

How has the rural and agricultural finance sector evolved over the past three years? The last three years have seen a rapid acceleration in technology-driven innovation, which has powered changes in existing rural finance models, enabled providers to develop new service delivery models, and facilitated the bundling of services in new ways. We have also seen a more diverse influx of service and capital providers, which has reshaped the market. […]

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CONSUMER INSIGHTS RESEARCH IN MALAYSIA

17 Dec 2019
  • Sarah Lober
  • Molly Sanborn
  • Jaspreet Singh
  • David Yuen Chien Wai
  • Alexandra Tyers

The consumer insights research series is designed to inspire providers, regulators and other financial market facilitators to design financial services and markets that respond to the aspirations of low-to-moderate income (LMI) people and improve their financial health. Why financial health? Financial health matters because our research shows that financial pressures prevent LMI people from having a sense of fulfilment in life. While most Malaysians now have a bank account, much […]

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FOCUS NOTE: IS DATA PRIVACY GOOD FOR BUSINESS?

17 Dec 2019
  • Maria Fernandez Vidal
  • David Medine

As digital financial services grow rapidly, so do concerns over data privacy and protection especially for poor customers who are particularly vulnerable to abuses and injury from lax data policies. CGAP set out to test how much poor people value their data privacy and whether there was a business case for financial services providers to offer better data protection. The results from six experiments in Kenya and India make the case that […]

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G20/OECD POLICY GUIDANCE: FINANCIAL CONSUMER PROTECTION APPROACHES IN THE DIGITAL AGE

16 Dec 2019

    Given the increasingly digital environment for financial products and services and the potential for digitalisation to support greater financial inclusion and inclusive growth, the need for effective financial consumer protection is more important than ever. It is equally important that the policies and approaches developed and adopted by financial consumer protection authorities need to evolve and adapt in line with the environment. This policy guidance is for consideration by policy […]

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    AGENT NETWORKS AT THE LAST MILE: A GUIDE FOR DIGITAL FINANCE TO REACH RURAL CUSTOMERS

    16 Dec 2019
    • Emilio Hernandez

    Most digital financial services users around the world live in cash-based societies, and they require a cheap and easy way to switch between the worlds of cash and digital currency. Agent networks that provide this service tend to cluster around urban and peri-urban areas and larger rural towns. However, global evidence shows that emerging agent network business models are improving agent viability in remote areas home to many of the world’s poor, […]

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    GLOBAL OFF-GRID SOLAR MARKET REPORT SEMI-ANNUAL SALES AND IMPACT DATA

    16 Dec 2019
    • Koen Peters
    • Itotia Njagi
    • Martin Hyland
    • Stephen Pantano

    Every six months, GOGLA and The World Bank Group’s Lighting Global program publish the Global Off-Grid Solar Market Report, a market intelligence series on sales and impact of off-grid solar lighting products, sold by GOGLA and Lighting Global affiliates. Since H2 2018, the report also includes sales numbers of off-grid appliances, in partnership with the Efficiency for Access Coalition. January – June 2019 Global Off-Grid Solar Market Report The off-grid solar […]

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    DOES FINANCIAL EDUCATION IMPACT FINANCIAL LITERACY AND FINANCIAL BEHAVIOR, AND IF SO, WHEN?

    16 Dec 2019
    • Tim Kaiser
    • Lukas Menkhof

    A meta-analysis of 126 impact evaluation studies finds that financial education significantly impacts financial behavior and, to an even larger extent, financial literacy. These results also hold for the subsample of randomized experiments (RCTs). However, intervention impacts are highly heterogeneous: financial education is less effective for low-income clients as well as in low- and lower-middle income economies. Specific behaviors, such as the handling of debt, are more difficult to influence […]

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    NIGERIA: DIGITAL ECONOMY DIAGNOSTIC REPORT

    16 Dec 2019

      As the biggest economy in Africa with one of the largest youth populations in the world, Nigeria is well-positioned to develop a strong digital economy. This would have a transformational impact on the country. In order to reap the benefits, Nigeria needs to focus on accelerating improvements in five fundamental pillars of a digital economy: digital infrastructure, digital platforms, digital financial services, digital entrepreneurship and digital skills. The Nigeria Digital […]

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