Editor's Note: This new world of the faiV is going out decidedly more idiosyncratically than the prior incarnation. That's mostly to do with my travel schedule, and trying to find a balance on frequency. For now, the plan is for the next faiV to be on the 22nd, and then on May 10th.
I'll link this again below to make sure that people see it, but in the last edition I inadvertently left out a link to an article about tech-driven efficiency in financial services that was central to one of the items.
I didn't realize that the theme of regulation was running through this faiV from beginning-to-end until I got to the end myself.
- Tim Ogden
The Diptych (and no Fools) Edition
Editor's Note: I had been trying to get this out early given the holiday weekend in many places, but so it goes. One of the struggles of getting out the faiV is how to connect items together in something resembling a narrative flow. For this edition, it was especially difficult as there are two "diptychs" that are related, but not wholly overlapping—and I got myself turned into knots trying to figure out how to write about them. I haven't solved the problem so much as given up on it. So forgive me for this sub-optimal presentation. If you're ready to for a happy start to your week, scroll to the end. No April Fools here. - Tim Ogden
Read MoreSmall Firm Diaries Global Findings: What We Learned, What's Next
In this webinar coming up on March 27 at 10am EDT we’ll share some data and key findings from the Small Firm Diaries. We’ll talk about related research and initiatives from around the world. And we’ll discuss the implications for what’s next on the agenda. Don’t miss this chance to join in a live discussion of findings from this first-of-its kind research study.
Read MoreThe Everything Old is New Again Edition
Editor's Note: I have a weird interest in how non-native foods become "staple" foods in other places (e.g. corn in East Africa, chilis in India), but I learned this week that Marco Polo did not bring noodles to Italy from China, and that the story was made up by an American food industry association in an attempt to promote the consumption of pasta in the United States. Now you know.
- Tim Ogden
1. faiVLive: Small Firm Diaries Global Findings, March 27th
It's seems only right that with the faiV getting back on it's feet that it's also time to bring back the faiVLive. On March 27th, I'll be joined by Paddy Carter of BII, Payal Dalal of the Mastercard Center for Inclusive Growth, Muhammad Meki from Oxford, and Hillary Miller-Wise from the Gates Foundation to talk about the global findings from the Small Firm Diaries, but that's just a jumping off point to talk about what we've learned about supporting economic growth and poverty alleviation through credit and other supports for micro and small businesses, and where we go from here in terms of both policy and research.
You can register here.
The Trifecta Edition
Editor's Note: Can it be that I can do three in a row? But don't get used to it. The faiV will be off for the next two weeks as I'm traveling. Any faithful faiV readers in Milan who might want to meet up?
I also want to thank a variety of readers who have sent me either encouraging notes on the return of the faiV or items to include in the faiV. Please do send on anything you think should be included, it really helps!
Last week's most popular link was the one about the "Death of Behavioral Economics"—indicating that I'm not the only one thinking about that, but interestingly I didn't get any feedback on what people are thinking about that. Please do share.
Finally, a personal rant that's kind of related to the first item below but only tangentially, so I'll put it here. Yesterday I logged into a webinar that I was really looking forward to based on the content that was going to be presented.
The Turn In Your Damn Reports Edition
Editor's Note: Thanks for the many kind notes on the return of the faiV last week. Let's see if I can get back in the swing of things. I am still interested in a) thoughts on how best to share the faiV, b) anything you see that should go into the faiV. So please share. Oh, and you have to read, then watch, to the end to get the Edition joke.
- Tim Ogden
1. The State of Behavioral Economics
I'll start out this item by noting my own uncertainty on this topic (a behavioral nudge!)—I'm genuinely unsure about what I should think about what is real and what is not in the world of behavioral economics. In the 10+ years I've now been hanging out in the world of economics research, I've eagerly consumed Predictably Irrational, Nudge and Thinking Fast and Slow. I've gotten excited about the possibility that small, cheap changes to the design of products and messages could have big impacts. But I've also watched with no small amount of schadenfreude as some of the core findings in behavioral science and economics have been found seriously wanting, whether from outright fraud, data manipulation, or poor research practices.
The You Seem Vaguely Familiar Edition
Editor's Note: You're not hallucinating, experiencing a weird time warp or flashback. But maybe I am.
- Tim Ogden
1. What the hell?
Yes, this is a new faiV, for the first time since [checks notes; checks notes again; checks calendar on current date; checks calendar on current date and year; hangs head in shame and disbelief] June, 2021. So, you (and I) could hardly be blamed for asking "What the hell happened?" The answer is complicated but mostly prosaic: my time has been focused on a seven-country financial diaries study, and three or four other field work projects that we've been running or participating in. But it's also that the world that the faiV existed in and was a part of has changed a lot. Here I don't mean the pandemic etc., at least not directly. I mean that the world of information creation and sharing has changed dramatically. As we contemplated reviving the faiV at various times in 2022 and 2023, we kept running into barriers like: what platform should we be using? What's getting through email filters now? How do we gather the information to write a faiV? Where are people posting now?
Microfinance Meets Pandemic: Two Years Later, Two Years From Now
Two years ago we hosted a faiVLive on “the gathering storm” of the pandemic and the crisis it presented for low-income households and the MFI industry. It’s clear now the industry has endured the storm better than many (or at least Tim) expected.
Read MoreThe Financial and Digital Literacy Gap: It’s a Trap!
There’s no question that there are big gaps in financial literacy between the rich and poor, and between those included and excluded at every income level and in every country. As digital finance becomes more important, the gap grows and takes on added dimensions. No wonder that financial (and now digital) literacy programs attract attention and millions of dollars globally.
Read MorePart 2 on The Role of Digital Money in Financial Inclusion
Back for a second run, Tim Ogden and Jesse McWaters of Mastercard continued their conversation on digital money, and grappled with questions focused on applications of digital currency to advance financial inclusion, cybersecurity, and the interplay between regulation, consumer protection and innovation.
Read More