Displaying all posts under the topic of Remittances
April 17, 2015
1. Commitment Savings: FAI's Managing Director Timothy Ogden discusses the world’s largest and most successful commitment savings program for low-income households - the US tax system. Stanford Social Innovation Review
2. Financial Inclusion: The number of "unbanked" individuals dropped 20% between 2011 and 2014 to 2 billion adults,...
April 3, 2015
1. Microfinance: FAI’s Jonathan Morduch discusses the limitations of microfinance, the promise of new technologies, and the need for quality, effective financial services for the poor. The Wall Street Journal
2. Student Debt: A burgeoning student loan repayment strike is gaining attention from the US government. It bears a striking resemblance to microcredit repayment crises...
February 27, 2015
1. Remittances: A number of large banks are no longer operating in certain countries in the global south in response to growing pressure from regulators to comply with rules on anti-money laundering and financing of terrorism. But this movement of "de-banking" means less money in the pockets of families who receive remittances as well as more cash traveling through informal channels. Center for Global Development...
December 9, 2014
Financial Access Initiative
Last night FAI had the pleasure of co-hosting a lively and informative panel discussion on the impact of cash transfers in international development with the Microfinance Club of New York. The panel (moderated by FAI's Timothy Ogden) included Paul Niehaus and Jeremy Schapiro, co-founders of GiveDirectly, Jenny Aker, Assistant Professor of Development Economics at The Fletcher School,...
November 7, 2014
1. Business Training: Previous evaluations show the effectiveness of business training programs is mixed at best. But a new paper finds (as with most things in life) it helps to have a friend. The World Bank - Development Impact ...
September 24, 2014
This week’s UN General Assembly meetings brought renewed attention to the set of global goals that will replace the Millennium Development Goals (MDGs) when they expire in 2015.
The latest draft of the new “Sustainable Development Goals” (SDGs) is a kitchen-sink-like receptacle for the interests of every possible development constituency. There are some obvious and glaring problems with this. To focus on the plus side, though, this enormous brain dump allows space for some intriguing new thinking about what the global community can and should...
August 22, 2014
1. Savings: Will increased access to formal savings accounts in India translate to greater financial inclusion? Live Mint
2. Remittances: FAI's Timothy Ogden spoke with The New York Times' editorial board about some of the macro challenges of...
August 18, 2014
We write a good deal about remittances because they are a big part of the financial lives of many poor households—on the sending and receiving end. Remittances receive a lot of attention in aggregate because so much money is flowing: a reasonable estimate is that more than $600 billion is moving annually and that the vast majority of that is flowing to poor households. On Friday...
August 13, 2014
In an interview with FAI, economist Jenny Aker explained that effective commitment savings products are those that balance flexibility and restrictions:
“If you give someone a savings product and it completely ties their hand, they don’t want to use it. They want to have a little bit of that tying of the hand so they can’t spend that money but they don’t want to be completely divorced from access to that money....
July 17, 2014
Just about everyone agrees that international remittances should be cheaper. If you run the numbers on international remittance flows, incomes of recipients and transaction costs, you can make a case that reducing remittance costs would be among the highest ROI interventions for raising incomes of poor households in the developing world (and given what we’re learning about the use and benefits of cash transfers, there’s good reason to believe the money would...