Publications

HOW THE DEVELOPMENT SECTOR IS CHANNELING MONEY TO DIGITAL FINANCIAL SERVICES

05 Aug 2020
  • Howard Miller

Development funders are increasingly embracing the potential of digital financial services (DFS) to promote financial inclusion. As these funders – bilaterals, multilaterals, development finance institutions and private foundations – continue to look for ways to respond to emerging crises and opportunities, the support for digital finance and the ecosystem around it is increasing in prominence. However, until now, we have not had a systematic way of understanding how much funding […]

COVID-19: BOON AND BANE FOR DIGITAL PAYMENTS AND FINANCIAL INCLUSION

04 Aug 2020
  • Nana Yaa Boakye-Adjei

Many emerging market and developing economies (EMDEs) have made a significant amount of progress in the areas of digital finance in terms of usage of digital payments in everyday life, bringing people into the formal economy, and also as a key contributing sector to GDP. In the ninth FSI Brief, Nana Yaa Boakye Adjei compares pandemic-induced measures taken by authorities worldwide to boost digital payments and looks at how they […]

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‘NOT A GOOD TIME’: ECONOMIC IMPACT OF COVID-19 IN AFRICA

28 Jul 2020
  • Hanan Morsy
  • Lacina Balma
  • Adamon Mukasa

The paper studies the effects of the COVID-19 pandemic on African economies and household welfare using a top-down sequential macro-micro simulation approach. The pandemic is modeled as a supply shock that disrupts economic activities of African countries and then affects households’ consumption behavior, the level of their welfare, and businesses’ investment decisions. The DSGE model is calibrated to account for informality, a key feature of African economies. We find that […]

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ADVANCING WOMEN’S DIGITAL FINANCIAL INCLUSION

23 Jul 2020
  • Ruth Goodwin-Groen
  • Leora Klapper
  • Margaret Miller
  • Andy Woolnough

Digital financial services have expanded opportunities for millions of women across the globe. More than 240 million more women now have an account with a financial institution or mobile money service, compared to 2014. Through this increased engagement in the formal economy, women’s resilience to financial, economic and health shocks is improving.  However, there remains much work to do to achieve gender equality in financial services. Approximately one billion women […]

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OECD/INFE 2020 INTERNATIONAL SURVEY OF ADULT FINANCIAL LITERACY

26 Jun 2020
  • Kiril Kossev

This report includes overall financial literacy scores, as computed following the OECD/INFE methodology and definition, and their elements of knowledge, behaviour and attitudes. Patterns of product awareness and holding are reported as an illustration of financial inclusion. A comprehensive section on the outcomes of financial education explores elements of financial resilience and presents a novel score of financial well-being. Originally published on OECD’s website.

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THE CAUSES AND CONSEQUENCES OF MOBILE MONEY TAXATION

25 Jun 2020
  • Killian Clifford

Mobile money taxation is a controversial subject. On the one hand mobile money has been something of a development success story in those countries where it has taken hold. On the other, developing countries face a range of issues when it comes to raising sufficient revenue to fund public services. In this paper, we take a fresh look at the subject of mobile money taxation through the lens of taxation and development. With […]

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MAKING CONSUMER PROTECTION REGULATION MORE CUSTOMER-CENTRIC

23 Jun 2020
  • Juan Carlos Izaguirre

Customer outcomes approaches are emerging as a promising consumer protection paradigm where the regulatory focus shifts from provider compliance with prescriptive check-the-box rules to customer results or outcomes achieved through provider actions. This shift is highly relevant to emerging markets where unserved and underserved customers are targeted with a range of digital financial services that may expose them to new risks, and where vulnerable customers are disproportionately affected by global […]

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COVID-19 RAPID MARKET IMPACT REPORT

18 Jun 2020
  • Alison Hemberger
  • Grace Becton

Restrictions put in place by governments around the world to stem the spread of COVID-19 have significant short and long-term economic consequences which are affecting everyone, albeit unevenly. The rapid pace of change in the fight against the virus, as well as the differential impacts on local economies, reinforces that there are no simple narratives during such a pandemic.  Using information collected from 22 Mercy Corps country programs, this market […]

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GLOBAL ECONOMIC PROSPECTS

17 Jun 2020

    The COVID-19 pandemic has, with alarming speed, dealt a heavy blow to an already-weak global economy, which is expected to slide into its deepest recession since the second world war, despite unprecedented policy support. The global recession would be deeper if countries take longer to bring the pandemic under control, if financial stress triggers defaults, or if there are protracted effects on households and firms. Economic disruptions are likely to […]

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    COVID-19 AND THE INSURANCE INDUSTRY: WHY A GENDER-SENSITIVE RESPONSE MATTERS

    17 Jun 2020
    • Susan Holliday
    • Prapti Sherchan
    • Sarah Ebrahimi

    Women play key roles in their homes, communities, and businesses. If insurers develop targeted approaches and products for women, they have the potential to earn up to $1.7 trillion by 2030. They can also help increase women’s understanding and willingness to buy insurance products to better protect their families or the companies women own or operate. The COVID-19 crisis poses new challenges for women and insurers. This guidance note highlights best practices […]

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