Despite the rise in recent decades in the average income level, economic insecurity has also increased. True for both developing and developed countries, this increasing economic insecurity is harmful for human welfare for several reasons. Job and income insecurity directly affect the material...

Expanding access to financial services holds the promise to help reduce poverty and spur economic development. But, as a practical matter, commercial banks have faced challenges expanding access to poor and low-income households in developing economies, and nonprofits have had limited reach. We...