Download or read book Household Financial Access and Risk Sharing in Nigeria written by Stacy Carlson and published by International Monetary Fund. This book was released on 2015-07-22 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the role of household financial access in determining the extent of risksharing in Nigeria using household-level panel data. We estimate changes in the response of consumption to shocks for households with formal and informal access to finance and those without, both for the country as a whole and for different regions. Our findings suggest that households with financial access who experience an unexpected negative income shock see consumption fall by 15 percentage points less than those without access. This result is mainly driven by households with informal financial access, and by household savings rather than borrowing. Regional variation in risk sharing tends to be significant, suggesting that financial inclusion efforts going forward should have a more regional focus.
Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
Download or read book Household Consumption Volatility and Poverty Risk Case Studies from South Africa and Tanzania written by Mr.Matthieu Bellon and published by International Monetary Fund. This book was released on 2020-03-06 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic volatility remains a fact of life in Sub Saharan Africa (SSA). Household-level shocks create large consumption fluctuations, raising the incidence of poverty. Drawing on micro-level data from South Africa and Tanzania, we examine the vulnerability to shocks across household types (e.g. by education, ethnic group, and economic activity) and we quantify the impact that reducing consumption volatility would have on aggregate poverty. We then discuss coverage of consumption insurance mechanisms, including financial access and transfers. Country characteristics crucially determine which household-level shocks are most prevalent and which consumption-smoothing mechanisms are available. In Tanzania, agricultural shocks are an important source of consumption risk as two thirds of households are involved in some level of agricultural production. For South Africa, we focus on labor market risk proxied by transitions from formal employment to informal work or unemployment. We find that access to credit, when available, and government transfers can effectively mitigate labor market shocks.
Download or read book Nigeria written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2015-03-30 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper discusses promotion of economic transformation in Nigeria. Nigeria’s long-term potential is keyed on promoting economic transformation. This implies taking stock of initial conditions, assessing long-term financing capacity, and evaluating the policies and reforms to be implemented to meet the long term vision. The recent fall in prices has highlighted the challenging but compelling need to address remaining development challenges. This paper discusses some of these development imperatives including current regional disparities and ongoing policy initiatives, capacity to finance infrastructure needs, promoting domestic saving through developing financial inclusion, and the opportunity cost of quasi-fiscal activities.
Download or read book Household Vulnerability to Income Shocks in Emerging and Developing Asia the Case of Cambodia Nepal and Vietnam written by Alessia De Stefani and published by International Monetary Fund. This book was released on 2022-04 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: We leverage survey data from emerging and developing Asia to highlight different aspects of household vulnerability to income shocks arising from the Covid-19 pandemic: occupation in Cambodia, self-insurance mechanisms in Nepal, and financial leverage in Vietnam. Occupation and ex-ante income levels emerge as the main drivers of vulnerability. We estimate that the pandemic could have placed an additional 6 to 9 percent of the population of each country in a vulnerable position, with the impact concentrated on urban, informal, and service sector workers. Government intervention and financial access emerge as key resilience-enhancing mechanisms.
Download or read book New Challenges for Future Sustainability and Wellbeing written by Ercan Özen and published by Emerald Group Publishing. This book was released on 2021-05-21 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: New Challenges for Future Sustainability and Wellbeing is a collection of studies about sustainability and related challenges, such as income, wealth, the environment, education and regional equality that influence the pace of economic development and affects the well-being of people and organisations all over the world.
Download or read book Every Household Its Own Government written by Daniel Jordan Smith and published by Princeton University Press. This book was released on 2022-03-08 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: An up-close account of how Nigerians’ self-reliance in the absence of reliable government services enables official dysfunction to strengthen state power When Nigerians say that every household is its own local government, what they mean is that the politicians and state institutions of Africa’s richest, most populous country cannot be trusted to ensure even the most basic infrastructure needs of their people. Daniel Jordan Smith traces how innovative entrepreneurs and ordinary citizens in Nigeria have forged their own systems in response to these deficiencies, devising creative solutions in the daily struggle to survive. Drawing on his three decades of experience in Nigeria, Smith examines the many ways Nigerians across multiple social strata develop technologies, businesses, social networks, political strategies, cultural repertoires, and everyday routines to cope with the constant failure of government infrastructure. He describes how Nigerians provide for basic needs like water, electricity, transportation, security, communication, and education—and how their inventiveness comes with consequences. On the surface, it may appear that their self-reliance and sheer hustle render the state irrelevant. In reality, the state is not so much absent as complicit. Smith shows how private efforts to address infrastructural shortcomings require regular engagement with government officials, shaping the experience of citizenship and strengthening state power. Every Household Its Own Government reveals how these dealings have contributed to forms and practices of governance that thrive on official dysfunction and perpetuate the very inequalities and injustices that afflict struggling Nigerians.
Download or read book Inclusive Financial Development written by Ahmad, Ahmad H. and published by Edward Elgar Publishing. This book was released on 2021-10-19 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inclusive Financial Development provides theoretical and empirical analyses of the nature of financial inclusion. The contributing authors explore the impediments to inclusion that exist around the world, the macro and stability implications, and the regulation dimension.
Download or read book Nigeria written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2013-05-28 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Financial Sector Stability Assessment on Nigeria discusses the macroeconomic performance and structure of the financial system. Although Nigerian economy experienced both domestic and external shocks in recent years, the economy continued to grow rapidly, achieving more than 7 percent growth each year since 2009. The performance of financial institutions has begun to improve, though some of the emergency anti-crisis measures continue to be in place. However, the regulatory and supervisory framework has gaps and weaknesses. In sum, the Nigerian economy has emerged from the banking crisis, and has the potential to enjoy an extended period of strong economic growth.
Download or read book Smooth Operator Remittances and Fiscal Shocks written by Ms.Kimberly Beaton and published by International Monetary Fund. This book was released on 2017-07-21 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: With 250 million migrants globally, remittances are one of the major sources of income in many developing countries. While there is abundant evidence that remittances facilitate consumption smoothing in receving countries, the literature has not considered whether this effect varies with the fiscal stance and during fiscal shocks. Therefore, we investigate the impact of remittances on the stability of household consumption, using both cross-country and household-level datasets. Our focus is on whether the consumption-smoothing effect changes with fiscal policy phases and whether remittances and government support are substitutes or complements in stabilizing household consumption. We find that remittances help smooth consumption, and hence improve welfare, more during fiscal consolidation episodes, while this impact is insignificant during fiscal expansions. The results also indicate that the effect is more pronounced in countries with greater reliance on remittances.
Download or read book IMF Research Bulletin September 2015 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2015-09-25 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: The September 2015 issue of the IMF Research Bulletin covers a range of research topics. The Research Summaries featured in this issue are “Lower for Longer: Neutral Rates in the United States” (Andrea Pescatori and Jarkko Turunen) and “Economic Principles for Resource Revenue Management” (Anthony J. Venables and Samuel Wills). The Q&A article looks at “Seven Questions on Financing for Development” (Amadou Sy) and the global development agenda. The issue also includes special announcements on the 2015 Annual Research Conference and the 2015 IMF Annual Report, as well as new IMF publications. Readers will also find a link to a top-viewed article from the “IMF Economic Review”—the IMF’s official research journal.
Download or read book Financial Inclusion What Have We Learned So Far What Do We Have to Learn written by Adolfo Barajas and published by . This book was released on 2020-08-07 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past two decades have seen a rapid increase in interest in financial inclusion, both from policymakers and researchers. This paper surveys the main findings from the literature, documenting the trends over time and gaps that have arisen across regions, income levels, and gender, among others. It points out that structural, as well as policy-related, factors, such as encouraging banking competition or channeling government payments through bank accounts, play an important role, and describes the potential macro and microeconomic benefits that can be derived from greater financial inclusion. It argues that policy should aim to identify and reduce frictions holding back financial inclusion, rather than targeting specific levels of inclusion. Finally, it suggests areas for future research.
Download or read book Handbook of Research on Microfinancial Impacts on Women Empowerment Poverty and Inequality written by Das, Ramesh Chandra and published by IGI Global. This book was released on 2018-08-17 with total page 479 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the major tools of attaining proper development all around the world is complete financial inclusion, such that all classes of people can secure their lifestyles through access to financial services from formal sectors. Expanding access to resources and increasing self-employment opportunities help reduce poverty and improve social development. The Handbook of Research on Microfinancial Impacts on Women Empowerment, Poverty, and Inequality is an essential reference source that discusses the role of financial inclusion in gender equality, as well as economic independence and self-employment. Featuring research on topics such as inequality, collaborative economy, and social responsibility, this publication is ideally designed for policy makers, economic researchers, and academicians seeking coverage on social mobilization, capital formation, capacity building, and pro-poor economy designs.
Download or read book Protecting All written by Truman Packard and published by Human Development Perspectives. This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This white paper focusses on the policy interventions made to help people manage risk, uncertainty and the losses from events whose impacts are channeled primarily through the labor market. The objectives of the white paper are: to scrutinize the relevance and effects of prevailing risk-sharing policies in low- and middle-income countries; take account of how global drivers of disruption shape and diversify how people work; in light of this diversity, propose alternative risk-sharing policies, or ways to augment and improve current policies to be more relevant and responsive to peoples' needs; and map a reasonable transition path from the current to an alternative policy approach that substantially extends protection to a greater portion of working people and their families. This white paper is a contribution to the broader, global discussion of the changing nature of work and how policy can shape its implications for the wellbeing of people. We use the term risk-sharing policies broadly in reference to the set of institutions, regulations and interventions that societies put in place to help households manage shocks to their livelihoods. These policies include formal rules and structures that regulate market interactions (worker protections and other labor market institutions) that help people pool risks (social assistance and social insurance), to save and insure affordably and effectively (mandatory and incentivized individual savings and other financial instruments) and to recover from losses in the wake of livelihood shocks ('active' reemployment measures). Effective risk-sharing policies are foundational to building equity, resilience and opportunity, the strategic objectives of the World Bank's Social Protection and Jobs Global Practice. Given failures of factor markets and the market for risk in particular the rationale for policy intervention to augment the options that people have to manage shocks to their livelihoods is well-understood and accepted. By helping to prevent vulnerable people from falling into poverty --and people in the poorest households from falling deeper into poverty-- effective risk-sharing interventions dramatically reduce poverty. Households and communities with access to effective risk-sharing instruments can better maintain and continue to invest in these vital assets, first and foremost, their human capital, and in doing so can reduce the likelihood that poverty and vulnerability will be transmitted from one generation to the next. Risk-sharing policies foster enterprise and development by ensuring that people can take appropriate risks required to grasp opportunities and secure their stake in a growing economy."--
Download or read book Fintech written by International Monetary Fund and published by International Monetary Fund. This book was released on 2019-06-27 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper finds that while there are important regional and national differences, countries are broadly embracing the opportunities of fintech to boost economic growth and inclusion, while balancing risks to stability and integrity.
Download or read book FinTech in Sub Saharan African Countries written by Mr.Amadou N Sy and published by International Monetary Fund. This book was released on 2019-02-14 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: FinTech is a major force shaping the structure of the financial industry in sub-Saharan Africa. New technologies are being developed and implemented in sub-Saharan Africa with the potential to change the competitive landscape in the financial industry. While it raises concerns on the emergence of vulnerabilities, FinTech challenges traditional structures and creates efficiency gains by opening up the financial services value chain. Today, FinTech is emerging as a technological enabler in the region, improving financial inclusion and serving as a catalyst for the emergence of innovations in other sectors, such as agriculture and infrastructure.
Download or read book Finance for All written by World Bank and published by World Bank Publications. This book was released on 2007-11-09 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: Access to financial services varies sharply around the world. In many developing countries less than half the population has an account with a financial institution, and in most of Africa less than one in five households do. Lack of access to finance is often the critical mechanism for generating persistent income inequality, as well as slower growth. 'Finance for All?: Policies and Pitfalls in Expanding Access' documents the extent of financial exclusion around the world; addresses the importance of access to financial services for growth, equity and poverty reduction; and discusses policy interventions and institutional reforms that can improve access for underserved groups. The report is a broad ranging review of the work already completed or in progress, drawing on research utilizing data at the country, firm and household level. Given that financial systems in many developing countries serve only a small part of the population, expanding access remains an important challenge across the world, leaving much for governments to do. However, not all government actions are equally effective and some policies can be counterproductive. The report sets out principles for effective government policy on broadening access, drawing on the available evidence and illustrating with examples.
