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Evidence on policies to increase the development impacts of international migration

McKenzie, David; Yang, Dean - Economics Research, World Bank Group - 2014

remittances to be used more effectively, and concerns about externalities from skilled workers being lost. As a result there is … migration options, developing new savings and remittance products that allow migrants more control over how their money is used …, and some efforts to provide financial education to migrants and their families. Suggestive evidence together with theory …

Persistent link: https://www.econbiz.de/10010936529

The impact of financial literacy training for migrants

Gibson, John; McKenzie, David; Zia, Bilal - Economics Research, World Bank Group - 2012

Remittances are a major source of external finance for many developing countries but the cost of sending remittances … products and new cost comparison information sources rely heavily on the financial literacy of migrants. This paper presents … the results of a randomized experiment designed to measure the impact of providing financial literacy training to migrants …

Persistent link: https://www.econbiz.de/10010829420

Interest rate caps around the world: still popular, but a blunt instrument

Maimbo, Samuel Munzele; Gallegos, Henriquez; Alejandra, … - Economics Research, World Bank Group - 2014

Among other common forms of government financial control, caps on interest rates have been declining over the past several decades as most industrialized countries and a rising number of developing countries continue liberalizing their financial policies. However, in several countries the last...

Persistent link: https://www.econbiz.de/10010938739

Promoting women's economic empowerment : what works ?

Buvinic, Mayra; Furst-Nichols, Rebecca - Economics Research, World Bank Group - 2014

A review of rigorous evaluations of interventions that seek to empower women economically shows that the same class of interventions has significantly different outcomes depending on the client. Capital alone, as a small cash loan or grant, is not sufficient to grow women-owned subsistence-level...

Persistent link: https://www.econbiz.de/10010944693

Financial literacy and the financial crisis

Klapper, Leora; Lusardi, Annamaria; Panos, Georgios A. - Economics Research, World Bank Group - 2012

The ability of consumers to make informed financial decisions improves their chances of having sound personal finance. This paper uses a panel dataset from Russia, where consumer loans grew at an astounding rate -- from about US$10 billion in 2003 to over US$170 billion in 2008 -- to examine the...

Persistent link: https://www.econbiz.de/10009651440

Unpacking the causal chain of financial literacy

Carpena, Fenella; Cole, Shawn; Shapiro, Jeremy; Zia, Bilal - Economics Research, World Bank Group - 2011

A growing body of literature examines the causal impact of financial literacy on individual, household, and firm level outcomes. This paper unpacks the mechanism of impact by focusing on the first link in the causal chain. Specifically, it studies the experimental impact of financial literacy on...

Persistent link: https://www.econbiz.de/10009318586

Financial literacy and retirement planning : the Russian case

Klapper, Leora; Panos, Georgios A. - Economics Research, World Bank Group - 2011

The authors examine the association of financial literacy with retirement planning in Russia, a country with a relatively old and rapidly aging population, large regional disparities, and a rapidly emerging financial market. They find that only 36.3 percent of respondents in the sample...

Persistent link: https://www.econbiz.de/10009319533

Upgrading investment regulations in second pillar pension systems : a proposal for Colombia

Castaneda, Pablo; Rudolph, Heinz P. - Economics Research, World Bank Group - 2011

The passivity of the demand for pension products is one of the striking features of mandatory pension systems. Consequently, the provision of multiple investment alternatives to households (multifund schemes) does not ensure that contributions are invested efficiently. In addition, despite the...

Persistent link: https://www.econbiz.de/10009275477

The impact of high school financial education : experimental evidence from Brazil

Bruhn, Miriam; de Souza Leao, Luciana; Legovini, Arianna; … - Economics Research, World Bank Group - 2013

This paper studies the impact of a comprehensive financial education program spanning six states, 868 schools, and approximately 20,000 high school students in Brazil through a randomized control trial. The program increased student financial knowledge by a quarter of a standard deviation and...

Persistent link: https://www.econbiz.de/10010721852

Consumer protection and financial literacy : lessons from nine country studies

Rutledge, Susan L. - Economics Research, World Bank Group - 2010

The recent turmoil in financial markets worldwide has emphasized the need for adequate consumer protection and financial literacy for long-term stability of the financial sector. This Working Paper aims to summarize key lessons from reviews of consumer protection and financial literacy in nine...

Persistent link: https://www.econbiz.de/10008503583