We designed and tested a voluntary commitment product to help smokers quit smoking. The product (CARES) offered smokers a savings account in which they deposit funds for six months, after which they take a urine test for nicotine and cotinine. If they pass, their money is returned; otherwise,...

The authors present a randomized field experiment measuring the direct impact and social network spillovers of providing financial literacy and discount vouchers on farmers decision to purchase index-based drought insurance. To examine this, the authors form clusters by grouping together...

The COVID-19 pandemic has devastated many low- and middle-income countries (LMICs), causing widespread food insecurity and a sharp decline in living standards1. In response to this crisis, governments and humanitarian organizations worldwide have mobilized targeted social assistance programs2....

A growing body of rigorous research shows that financial services innovations can have important positive impacts on wellbeing, but also that many do not. We first describe the latest evidence on what works in financial inclusion. Second, we summarize research on key financial market failures...