Policy Brief
Vulnerability in Developing Countries
The first Millennium Development Goal aims to halve the number of people in the world living in extreme poverty. In this Research Brief, emanating from the UNU-WIDER project on ‘Fragility and Development’, the premise is that we should also be...
Working Paper
Savings By and For the Poor
The poor can and do save, but often use formal or informal instruments that have high risk, high cost, and limited functionality. This could lead to undersaving compared to a world without market or behavioural frictions. Undersaving can have...
Blog
Domestic Resource Mobilization and Financial Development: Looking at the MDGs from a Different Angle?
by
George Mavrotas
January 2009
George Mavrotas While recent years have witnessed new interest in the finance–growth nexus, the relationship between domestic resource mobilization...
Journal Article
Is Economic Volatility Detrimental to Global Sustainability?
In a dynamic panel data model allowing for error cross-section dependence, output volatility is found to impede sustainable development. Through a financial development channel (liquidity liability ratio), output volatility exerts a significant...
Working Paper
Gap Disequilibria
Four "gaps" or restrictions on capacity growth -- from available saving and foreign exchange, investment demand (with crowding-in of private by public capital formation), and ex ante discrepancies between inflation rates needed on the one hand to...
Working Paper
The Banking System and Monetary Aggregates Following Financial Sector Reforms
This paper discusses the process, problems and impacts of the financial sector reform in Indonesia, particularly since the late 1980s. The reform has encouraged a surge in private sector capital inflows to supplement the already high domestic savings...
Working Paper
Capital markets in sub-Saharan Africa
Capital markets facilitate capital growth by mobilizing savings and converting them into investments, and they are therefore a stimulant of economic growth. There is evidence that countries with high savings rates tend to grow faster. Although most...
Working Paper
Determinants of domestic savings in Tanzania
This paper examines trends and determinants of gross domestic savings in Tanzania using data for the period 1990–2020. The autoregressive distributed lag approach is employed to empirically analyse the short-run and long-run relationships. There has...
Blog
Out of the Poverty Trap Through Higher Aspirations?
Why does a mother from a poor African village not send her daughter to school, but instead marries her off to an old man as a second or third wife...
Working Paper
Inequality and Risk
In poor societies, asset accumulation serves as insurance. It also opens the door to wider inequality. Many societies prohibit certain types of accumulation, such as land sales or indenture contracts. This paper investigates the theoretical...
Book
Finance and the Real Economy
The present volume contains six papers on financial-policy issues and country experiences, presented at a joint ECLAC/UNU-WIDER/UNCTAD seminar held at ECLAC headquarters in Santiago, Chile, on 5-6 October 1992. In the first, Yilmaz Akyuz discusses...
Book
Domestic Resource Mobilization and Financial Development
This significant and timely volume offers crucial insights into the constantly evolving debate within the international development community regarding the mobilization of domestic resources and the crucial role that financial development can and...