If you own a bank account, chances are you are better off than a third of women worldwide. If that bank account comes with a nice app on your phone, you’re probably economically better off than 60 percent of women worldwide.
CGD Policy Blogs
The broad scope of the Sustainable Development Goals acknowledges that human development is multifaceted and that gender equality is crosscutting.
In the drive to measure these concepts and gauge progress, there has been a proliferation of indices in recent years. The allure of indices is twofold: they reduce complex concepts and multiple indicators into one number, and this number can be used to rank countries and, so the theory goes, drive change. In one fell swoop then, indices seem to bring simplicity, order, and transformative potential.
Growing a business is not easy, and for women firm owners the challenges can be acute, especially when they are poor and run subsistence level firms. In developing countries, 22 percent of women discontinue their established businesses due to a lack of funds, and women are more likely than men to report exiting their businesses over finance problems, according to the Global Entrepreneurship Monitor. Meanwhile, personal savings are a crucial source of entrepreneurial financing, and nearly 95 percent of entrepreneurs globally state that they used their own funds to start or scale up their businesses. Women, however, face unique constraints in accumulating savings to invest in growing their firms.
Eight years and millions of mobile financial transactions later, we came together again at a private CGD roundtable in London to discuss the potential of mobile banking and savings for women’s economic empowerment. We were pleased to hear the richness of research evidence and interventions on women’s financial inclusion that have emerged over the past decade. What follows are some takeaways from our deliberations, informed by this research and practice.
A sense of urgency was present at a recent World Bank Spring meeting on financial inclusion. This is not surprising, given the Bank’s ambitious goal of Universal Financial Access by 2020. Two years to go and globally about 1.7 billion adults remain unbanked—close to 1 billion of them are women. It’s clear that to meet this goal, we all must focus our efforts on women.
Here at CGD, we’re always working on new ideas to stay on top of the rapidly changing global development landscape. Whether it’s examining new technologies with the potential to alleviate poverty, presenting innovative ways to finance global health, assessing changing leadership at international institutions, or working to maximize results in resource-constrained environments, CGD’s experts are at the forefront of practical policy solutions to reduce global poverty and inequality. Get an in-depth look below at their thoughts on the 2018 global development landscape.
What's going to happen in the world of development in 2018? Will we finally understand how to deal equitably with refugees and migrants? Or how technological progress can work for developing countries? Or what the impact of year two of the Trump Administration will be? Today’s podcast, our final episode of 2017, raises these questions and many more as a multitude of CGD scholars share their insights and hopes for the year ahead.
Gender data are essential. How else are we going to monitor progress in the wellbeing of women and girls? Below, we provide background on data shortage, and outline three key steps that countries and the international community should take in order to produce better data and close gender gaps.
The entrepreneur is a 59-year-old widow in the city of Mbeya, Tanzania. She has a covered dark corner space in an open market where she sells soft drinks during the day, adds beer in the evenings, and also sells prepared meals in an adjacent space. She recently took a 6-week long business training course from TechnoServe, which included instruction on how to access M-Pawa, a new Vodaphone mobile savings platform. This should allow her to gain better control of her income and invest in her business.
Progress on Global Development Commitments, or More of the Same? CGD Experts Share Hopes and Predictions for 2017 G20 Summit
Each of the G20 summits of the past seven years has suffered in comparison with the London and Pittsburgh Summits of 2009, when the imperative of crisis response motivated leaders, finance ministers, and central bankers to coordinate effectively with each other. Subsequent summits have lacked the same sense of urgency and have failed to deliver any kind of agenda that can be pinpointed as clearly as “saving the global economy.” This week’s summit in Hamburg, Germany promises more of the same, with the real possibility that the G20’s stock could fall even further at the hands of a non-cooperative US delegation.