Ideas to Action:

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Views from the Center

CGD experts offer ideas and analysis to improve international development policy. Also check out our Global Health blog and US Development Policy blog.

 

Global Efforts to Combat Financial Exclusion Forge Ahead

In November 2015, CGD published a report on the unintended consequences of anti-money laundering policies for poor countries, focusing on three groups: migrant workers who send remittances to their families, vulnerable people who are displaced by conflict or natural disasters and are in need of foreign assistance, and businesses that rely on cross-border trade. Since then, the international community has made several efforts to address the problem of financial exclusion created in part by these policies. 

Blockchain Tech Adoption Makes Progress, But Is Still No Magic Bullet for Global Financial Inclusion

Distributed ledger technology, like Bitcoin’s blockchain, has the potential to transform cross-border payments, boost financial inclusion, and lessen the unintended consequences of anti-money laundering enforcement. Ripple, a fintech company using distributed ledger technology, made headlines recently, as did the appearance of a new cryptocurrency, Zcash. If you’ve gotten swept up in the enthusiasm around emerging financial technologies (fintech), you may think that the creaking system of international transfers in fiat currencies, and the problems of global financial exclusion associated with it, will soon come to an end. However, as we’ve said before, these innovations may not have as much of an impact as you expect.

Promoting Women’s Economic Empowerment: What the Next US Administration Should Do

The Obama administration has taken some important steps to put women’s economic empowerment at the center of US foreign and development policy, but there’s still plenty of work left to do. Researchers and advocates alike have made the case for why gender equality—and specifically women’s economic empowerment—is critical for achieving economic growth, eradicating extreme poverty, and improving the health, education, and well-being of people worldwide. This blog post turns to concrete ways that the next US administration can promote women’s economic empowerment, thereby maximizing the impact of its development agenda.

How Do India’s Payments Banks Measure Against Key Principles for Financial Inclusion?

Keeping in mind the low levels of financial inclusion in the country, the Indian authorities have developed a broad strategy to improve access to financial services, as outlined in the report by the Committee on Comprehensive Financial Services for Small Business and Low Income Households, led by Nachiket Mor. Among the committee’s recommendations, payments banks are one innovative tool to further India’s goal of greater financial inclusion.

CGD at Women Deliver 2016

Five thousand researchers, practitioners, advocates and others are descending on Copenhagen for Women Deliver, the largest conference focused on the health, rights, and well-being of women and girls. Much of what will be discussed aligns with CGD’s own work through our global health policy and gender and development programs, so we’re pleased to be attending and below, we’re pleased to share with you a few of the conference areas where we can add our voice. 

CGD and IMF Join Forces to Discuss Financial Inclusion

Does broadening financial access to large segments of the population pose risks to financial stability? Not necessarily, according to recent remarks by IMF managing director Christine Lagarde. Increasing access to basic financial transactions such as payments does not threaten financial stability, especially when appropriate supervisory and regulatory frameworks are in place. In fact, with the right regulatory supervision, increased access to financial services can result in both micro and macro benefits. Recognizing the macroeconomic and regulatory dimensions of financial inclusion, CGD and the IMF joined forces for a seminar to kick off the IMF Spring Meetings 2016.

Gender and Financial Inclusion: With a Nudge and a Twist

At a CGD event on financial inclusion, IMF Managing Director Christine Lagarde noted that financial inclusion is a priority for the post-2015 development agenda as a whole. Here we explore both the benefits of financial inclusion and some concrete steps for achieving it,  specifically looking at ways to overcome a persistent gender gap that leaves women with less access to financial services than men. 

Better Regulation Can Improve Financial Inclusion

Poor regulation is a key obstacle to financial inclusion. An enabling regulatory environment is critical for creating incentives for businesses to offer innovative financial services to the poor, and for underserved customers to take up formal financial services.