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CGD Policy Blogs


Is Money for Microcredit Killing Savings with Kindness?

As you are probably tired of hearing me say, I am evaluating microfinance from three perspectives. A pattern is emerging: microsavings looks pretty good in all three perspectives. The one randomized trial of savings returned a positive verdict from the perspective of development-as-proven-poverty-reduction. Meanwhile, fraud-free savings serves people much as credit does, yet without raising debt trap fears---good for development-as-freedom.

Bob McNamara Should Also Be Remembered as Transformative President of the World Bank

Predictably and perhaps appropriately, the flood of remembrances of Robert McNamara is focusing on his role as the architect of the Vietnam War. Yet McNamara was also a transformative president of the World Bank, shaping both that institution and the larger development enterprise in ways that are still felt today. McNamara served for 13 years as World Bank president, almost twice the seven years he previously spent as the U.S. defense secretary (both terms set records for length that have yet to be exceeded).

India's Brain Gain: Can Africa Follow?

The BBC recently featured a story on the flow of skilled Indian emigrants and their offspring returning to India. An Indian official says: "In the 1960s when people left India the buzz word was 'brain-drain'. We see it now as 'brain-gain'."