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> Posted by Sonja E. Kelly, Fellow, CFI
There’s a lot of data out there. And some of us are brave enough to use it (including you, my friend).
Recently we released an interactive Data Explorer tool and individual Country Profiles, allowing users to visually explore financial inclusion data in comparison with other development indicators in one central location. You can see our analysis of some of the data, but more importantly, we would like to invite you to explore the data for yourself.
For those interested in financial inclusion figures in specific countries, regions, or income groups of interest, visit Country Profiles. There we display data from the Global Findex along with demographic data relevant to understanding financial inclusion across the lifecycle. As we continue our own analysis of global trends, we will add figures on income, urbanization, technology, and more for each country.
Click on the financial inclusion bars to see a breakdown of the data by client segment, and use the tool to understand why or how people use financial services in particular countries. At the bottom of the page, you can interact with the demographic data by scrolling through the years to see past and projected population trends from 1950 to 2100. (This is very cool.)
> Posted by Yuwa Hedrick-Wong, Global Economic Advisor, MasterCard Worldwide and HSBC Professor of International Business, University of British Columbia
The Financial Inclusion 2020 campaign at the Center for Financial Inclusion at Accion is building a movement toward full financial inclusion by 2020. Accordingly, this blog series will spotlight financial inclusion efforts around the globe, share insights coming out of the creation of a roadmap to full financial inclusion, and highlight findings from research on the “invisible market.”
One common reason for getting excited about emerging markets in recent years is the notion of demographic dividends, because population growth is generally higher in developing countries with bulging younger age cohorts and few elderly people. This is supposed to be good for economic growth. Demographic dividends are usually explained in terms of higher population growth leading to an expanding working age population, which in turn means that the society can benefit from having more people who are both able to work as well as eager to consume. Such potential benefits have been conceptualized as a “demographic window” in a recent research report by the Center for Financial Inclusion, which argues that financial inclusion has a powerful role to play in capturing such benefits.1
The demographic dividends are seen as especially enticing during the phase in which high population growth is gradually being moderated by a dropping fertility rate, which reduces the growth rate of the very young while the working age population is still large and expanding. This has the virtue of lowering both the child dependency and the old age dependency ratios, with the result that the society is endowed with mostly people of working age with relatively few young and old people to support. Over time, a more mature working age population tends to save more, looking to their future retirement needs; consequently the society’s savings rate is raised, and a larger savings pool can in turn better support the economy’s investment needs. So far, so good.
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