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  • 1
    Online Resource
    Online Resource
    The impact of interest rate caps on the financial sector : evidence from commercial banks in Kenya (2018)
    Washington, D.C. : World Bank Group, Finance, Competitiveness and Innovation Global Practice & Development Research Group
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 39 Seiten) , Illustrationen
    Series Statement: Policy research working paper 8393
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Safavian, Mehnaz The Impact of Interest Rate Caps on the Financial Sector: Evidence from Commercial Banks in Kenya
    Keywords: 2016 ; Bank ; Zinsderivat ; Kenia ; Graue Literatur
    Abstract: Interest rate caps can have far-reaching consequences on the composition and maturity of commercial bank loans and deposits. This paper carefully documents these impacts on the formal financial sector in Kenya after the recent interest rate caps of 2016. Using bank-level panel data from before and after the caps, the paper identifies a significant decline in aggregate lending, an increase in nonperforming loans, and a change in composition of lending away from small and medium enterprises and toward safer corporate clients. Banks also shifted away from offering interest on current account deposits to preserve their interest margins. These quantitative findings are supported by qualitative evidence through detailed interviews of commercial bank executives, and have important implications for economic growth and financial inclusion
    DOI: 10.1596/1813-9450-8393
    URL: Volltext  (Deutschlandweit zugänglich)
    URL: Deutschlandweit zugänglich
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    Online Resource
    MPI Ethno. Forsch.
  • 2
    Online Resource
    Online Resource
    Determinants and dynamics of business aspirations : evidence from small-scale entrepreneurs in an emerging market (2018)
    Washington, D.C. : World Bank Group, Development Research Group, Finance and Private Sector Development Team
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 41 Seiten) , Illustrationen
    Series Statement: Policy research working paper 8400
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Dalton, Patricio S Determinants and Dynamics of Business Aspirations: Evidence from Small-Scale Entrepreneurs in an Emerging Market
    Keywords: Kleinstunternehmen ; Innovation ; Unternehmenswachstum ; Unternehmenserfolg ; Lernende Organisation ; Schwellenländer ; Graue Literatur
    Abstract: Small-scale entrepreneurs are ubiquitous in emerging market economies, yet very few graduate to become larger businesses. This paper asks whether such entrepreneurs aspire to grow and, if so, on which dimensions of the business? What factors influence these aspirations, how realistic are they, and do entrepreneurs dynamically update them based on realized outcomes? A unique panel data set of small-scale retailers in Indonesia is used to show that the average business has strong short- and long-term aspirations for growth in shop size, number of employees, number of customers, and sales. Yet, more than 50 percent of the businesses report no aspirations for growth in the next 12 months, and 16 percent fail to imagine an ideal business over the long term. Entrepreneurs with low profits, business skills, and agency beliefs, as well as those who are older, female, and less educated have significantly lower aspirations. Analysis from a year later shows that most entrepreneurs fail to set realistic aspirations at baseline, but significantly adjust their aspirations to realistic levels with realized outcomes. The analysis also shows that baseline aspirations are a strong predictor of measures of business expansion and innovation, as well as performance outcomes a year later
    DOI: 10.1596/1813-9450-8400
    URL: Volltext  (Deutschlandweit zugänglich)
    URL: Deutschlandweit zugänglich
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    Online Resource
    MPI Ethno. Forsch.
  • 3
    Online Resource
    Online Resource
    Decentralized delivery of financial education : evidence from a country-wide field experiment (2018)
    Washington, D.C. : World Bank Group, Development Economics, Development Research Group & Finance, Competitiveness and Innovation Global Practice
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 40 Seiten) , Illustrationen
    Series Statement: Policy research working paper 8521
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Hakizimfura, Emmanuel Decentralized Delivery of Financial Education: Evidence from a Country-Wide Field Experiment
    Keywords: Graue Literatur
    Abstract: Can financial education delivery be successfully decentralized? This paper studies a large-scale field experiment with 200 Savings and Credit Cooperative Associations (SACCOs) in Rwanda, and tests competing models of local financial education delivery. One-third of SACCOs, randomly selected, were invited to a comprehensive training-of-trainers (TOT) workshop and stipulated to send the SACCO manager, a loan officer, and a board member to be trained. Another one-third were invited to the same workshop, but allowed free selection of trainers. The latter resulted in significantly more community members and fewer loan officers being trained as trainers. Within a year, these trainers successfully disseminated content to 68,000 households, with higher session attendance in the autonomous selection group. Analysis from follow-up surveys finds stark differences in behavior change: recipients in the autonomous selection group show significant improvements in financial attitudes, rules of thumb, and planning, as well as budgeting and savings behaviors. In contrast, recipients in the fixed selection group show no significant improvements on any of the outcome measures. These results underscore the importance of community-led delivery of financial education programs
    DOI: 10.1596/1813-9450-8521
    URL: Volltext  (Deutschlandweit zugänglich)
    URL: Deutschlandweit zugänglich
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    Online Resource
    MPI Ethno. Forsch.
  • 4
    Online Resource
    Online Resource
    The causal mechanism of financial education : evidence from mediation analysis (2018)
    Washington, D.C. : World Bank Group, Development Economics, Development Research Group
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 46 Seiten) , Illustrationen
    Series Statement: Policy research working paper 8619
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Carpena, Fenella The Causal Mechanism of Financial Education: Evidence from Mediation Analysis
    Keywords: Finanzwissen ; Anlageverhalten ; Wirkungsanalyse ; Kausalanalyse ; Feldforschung ; Indien ; Graue Literatur
    Abstract: This paper uses a field experiment in India with multiple financial education treatments to investigate the causal mechanisms between financial education and financial behavior. Focusing on the mediating role of financial literacy, the paper proposes a broader definition of financial knowledge that includes three dimensions: numeracy skills, financial awareness, and attitudes toward personal finance. The analysis then employs causal mediation analysis to investigate the proportion of the treatment effect that can be attributed to these three channels. Strikingly, numeracy does not mediate any effects of financial education on household outcomes. For 〈italic〉simple〈/italic〉 financial actions such as budgeting, both awareness and attitudes serve as critical pathways, while for more 〈italic〉complex〈/italic〉 financial activities such as opening a savings account, attitudes play a more prominent role. These findings underscore the importance of changing perceptions about financial products and services as a vital mechanism for the success of financial education
    DOI: 10.1596/1813-9450-8619
    URL: Volltext  (Deutschlandweit zugänglich)
    URL: Deutschlandweit zugänglich
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    Online Resource
    MPI Ethno. Forsch.
  • 5
    Online Resource
    Online Resource
    Measuring the unmeasured : combining technology and behavioral insights to improve measurement of business outcomes (2019)
    Washington, DC, USA : World Bank Group, Development Economics, Development Research Group
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 49 Seiten) , Illustrationen
    Series Statement: Policy research working paper 8836
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Anderson, Stephen J Measuring the Unmeasured: Combining Technology and Behavioral Insights to Improve Measurement of Business Outcomes
    Keywords: Graue Literatur
    Abstract: Business survey outcomes for micro and small firms are notoriously noisy, with multiple sources of measurement and recall error. This paper introduces a new survey methodology that combines automatic consistency checks of electronic data collection with triangulation and dynamic adjustment to arrive at more precise estimates of business performance. The methodology uses insights from behavioral science to lower the cognitive cost of initial recall and establishes salient and relevant anchors to allow for dynamic triangulation and adjustment toward a final estimate. The validity of this method is field tested against traditional performance measures as well as administrative data across three emerging markets: Ghana, Rwanda, and Uganda. The results show significant upward adjustment from traditional measures for both sales and profits, a lower coefficient of variation in the cross-section, and higher autocorrelation in panel data. Comparisons with administrative data further confirm a higher correlation and closer magnitude relative to traditional measures. This research reconciles recommendations for increased attention to survey design with a method to leverage electronic survey technology beyond consistency checks
    DOI: 10.1596/1813-9450-8836
    URL: Volltext  (lizenzpflichtig)
    URL: Deutschlandweit zugänglich
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    Online Resource
    MPI Ethno. Forsch.
  • 6
    Online Resource
    Online Resource
    Learning to grow from peers : experimental evidence from small retailers in Indonesia (2019)
    Washington, DC, USA : World Bank Group, Development Economics, Development Research Group
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 72 Seiten) , Illustrationen
    Series Statement: Policy research working paper 8933
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Dalton, Patricio S Learning to Grow from Peers: Experimental Evidence from Small Retailers in Indonesia
    Keywords: Graue Literatur
    Abstract: Business practices and performance vary widely among local peers. This paper identifies key determinants of such heterogeneity among a sample of small urban retail shops in Indonesia, and experimentally tests whether learning about the best practices of local peers is valuable for business growth. Through extensive baseline quantitative and qualitative fieldwork, the study develops a handbook that associates specific business practices with performance and provides detailed implementation guidance informed by exemplary local shop owners. Instead of offering formal training or in-depth counseling, this handbook is simply distributed to a randomly selected sample of shop owners and complemented with three experiential learning modules: one group is invited to watch a documentary video on experiences of highly successful peers, another is offered light in-shop assistance on the implementation of the handbook, and a third group is offered both. Eighteen months after the intervention, the study finds no effect of offering the handbook alone, but significant impact on practice adoption when the handbook is coupled with experiential learning. On business performance, the study finds sizable and significant improvements as well, up to an increase of 35 percent in profits and an increase of 16.7 percent in revenues. The types of practices adopted map these performance improvements to efficiency gains rather than other channels. The analysis suggests that these interventions are simple, scalable, and highly cost-effective
    DOI: 10.1596/1813-9450-8933
    URL: Volltext  (lizenzpflichtig)
    URL: Deutschlandweit zugänglich
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    Online Resource
    MPI Ethno. Forsch.
  • 7
    Online Resource
    Online Resource
    Stimulating Managerial Capital in Emerging Markets : The Impact of Business and Financial Literacy for Young Entrepreneurs (2011)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (62 p)
    Edition: 2011 World Bank eLibrary
    Parallel Title: Bruhn, Miriam Stimulating Managerial Capital in Emerging Markets
    Abstract: Identifying the determinants of entrepreneurship is an important research and policy goal, especially in emerging market economies where lack of capital and supporting infrastructure often imposes stringent constraints on business growth. This paper studies the impact of a comprehensive business and financial literacy program on firm outcomes of young entrepreneurs in an emerging post-conflict economy, Bosnia and Herzegovina. The authors conduct a randomized control trial and find that while the training program did not influence business survival, it significantly improved business practices, investments, and loan terms for surviving businesses. Entrepreneurs with higher ex-ante financial literacy further exhibited some improvements in business performance and sales
    DOI: 10.1596/1813-9450-5642
    URL: Volltext  (Deutschlandweit zugänglich)
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    Online Resource
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  • 8
    Online Resource
    Online Resource
    Harnessing Emotional Connections to Improve Financial Decisions : Evaluating the Impact of Financial Education in Mainstream Media (2013)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (51 p)
    Edition: 2013 World Bank eLibrary
    Parallel Title: Berg, Gunhild Harnessing Emotional Connections to Improve Financial Decisions
    Abstract: This paper exploits the emotional connections and viewer attentiveness of mainstream media to evaluate the economic impact of financial education messages on debt management delivered through a popular television soap opera in South Africa. The study uses a symmetric encouragement design to compare outcomes of individuals who were randomly assigned to watch a soap opera with financial messages, "Scandal!" to those of individuals who were invited to watch a similar soap opera without financial messages, "Muvhango." Both shows overlapped in evening primetime and had similar past viewership profiles. The financial storyline spanned two months and featured one of the leading characters of the show borrowing excessively and irresponsibly through hire-purchase, gambling, and ending up in financial distress; and eventually seeking help to find her way out. Two intermediate and one final follow-up surveys were conducted as part of the study. The analysis finds individuals assigned to watch Scandal had significantly higher financial knowledge of the issues highlighted in the soap opera storyline, in particular messages delivered by the leading character. On behavior, Scandal viewers were almost twice more likely to borrow from formal sources, less likely to engage in gambling, and less prone to enter hire purchase agreements. Messages promoting a national debt mediation helpline delivered by an external character did not sustain traction beyond immediate interest. Three qualitative focus groups highlight the importance of emotional connections with the leading character in motivating behavior change
    DOI: 10.1596/1813-9450-6407
    URL: Volltext  (Deutschlandweit zugänglich)
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    Online Resource
    MPI Ethno. Forsch.
  • 9
    Online Resource
    Online Resource
    The ABCs of Financial Education : Experimental Evidence on Attitudes, Behavior, and Cognitive Biases (2015)
    Washington, D.C : The World Bank
    Details
    Language: Undetermined
    Pages: 1 Online-Ressource (42 p)
    Series Statement: World Bank E-Library Archive
    Parallel Title: Erscheint auch als Carpena, Fenella The ABCs of Financial Education: Experimental Evidence on Attitudes, Behavior, and Cognitive Biases
    Abstract: This paper uses a large scale field experiment in India to study attitudinal, behavioral, and cognitive constraints that stymie the link between financial education and financial outcomes. The study complements financial education with (i) participant classroom motivation with pay for performance on a knowledge test, (ii) intensity of treatment with personalized financial counseling, and (iii) behavioral nudges with financial goal setting. The analysis finds no impact of pay for performance but significant effects of both counseling and goal setting on real financial outcomes. These results identify important complements to financial education that can bridge the gap between financial knowledge and financial behavior change
    DOI: 10.1596/1813-9450-7413
    URL: Volltext  (Deutschlandweit zugänglich)
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    Online Resource
    MPI Ethno. Forsch.
  • 10
    Online Resource
    Online Resource
    Pathways to Profits : Identifying Separate Channels of Small Firm Growth through Business Training (2016)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (69 p)
    Series Statement: World Bank E-Library Archive
    Parallel Title: Erscheint auch als Anderson, Stephen J Pathways to Profits: Identifying Separate Channels of Small Firm Growth through Business Training
    Abstract: This paper identifies separate and unique pathways to profits among small businesses in South Africa that are exposed to marketing or finance training in a randomized control study. The marketing group achieves greater profits by adopting a growth focus on higher sales, greater investments in stock and materials, and hiring more employees. The finance group achieves similar profit gains but through an efficiency focus on lower costs. Both groups show significantly higher adoption of business practices related to their respective training program. Consistent with a growth focus, marketing/sales skills are significantly more beneficial to firm owners who ex ante have less exposure to different business contexts. In contrast and in line with an efficiency focus, entrepreneurs who have been running more established businesses prior to training benefit significantly more from finance/accounting skills
    DOI: 10.1596/1813-9450-7774
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
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