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Social Science > Demography

You are looking at 1 - 10 of 85 items for :

  • Type: Journal Issue x
  • Banks; Depository Institutions; Micro Finance Institutions; Mortgages x
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Cover IMF Working Papers
Prometheus Unbound: What Makes Fintech Grow?
Serhan Cevik
The rise of financial technologies—fintech—could have transformative effects on the financial landscape, expanding the reach of services beyond the confines of geography and creating new competitive sources of finance for households and firms. But what makes fintech grow? Why do some countries have more financial innovation than others? In this paper, I use a comprehensive dataset to investigate the emergence and spread of fintech in a diverse panel of 98 countries over the period 2012–2020. This empirical analysis helps ascertain economic, demographic, technological and institutional factors that enable the development of fintech. The magnitude and statistical significance of these factors vary according to the type of fintech instrument and the level of economic development (advanced economies vs. developing countries). Finally, these findings reveal that policies and structural reforms can help promote financial innovation and cultivate fintech ventures—particularly by strengthening technological and institutional infrastructures and reducing cybersecurity threats.
Keywords:
Fintech; financial innovation; technological change; cybersecurity threat; fintech venture; copyright page; government stability foster fintech growth; fintech transaction; Digital financial services; Financial sector development; Population growth; Europe
Cover IMF Working Papers
Aging Gracefully: Steering the Banking Sector through Demographic Shifts
Patrick A. Imam
and
Christian Schmieder
We analyze how aging populations might affect the stability of banking systems through changes in the balance sheets and risk preferences of banks over the period 2000-2022. While the anticipated decline in maturity transformation due to aging hints at a possible reduction in risk exposure, an older population may propel banks towards yield-seeking behaviors, offsetting the diminishing prominence of conventional lending operations. Through a comprehensive examination of advanced economies over the past two decades, our findings reveal a general enhancement in bank stability correlating with the aging of populations. However, the adaptive responses of banks to these demographic changes are potentially introducing tail risks. Given the rapid global shift towards aging societies, our analysis highlights the critical need for policymakers to be proactive and vigilant. This is particularly pertinent considering historical precedents where periods of relative stability have often been harbingers of emerging risks.
Keywords:
Aging; Demographics; Bank risk-taking; Financial Stability; IMF working paper No. 24/118; tail risk; risk preference; stability risk; solvency profile; bank assets; Commercial banks; Bank soundness; Loans; Global
Cover Selected Issues Papers
Financial Inclusion in Niger: Challenges and Opportunities: Niger
Yoro Diallo
,
Mr. Arsene Kaho
, and
Can Sever
Financial inclusion can increase economic growth and productivity and reduce poverty and inequality by helping people and firms—particularly SMEs—to save and invest, smooth consumption, and better manage financial risks. This paper highlights Niger’s lag compared to other WAEMU countries in terms of access to and use of formal financial services, including for women and youth, and underscores key demand and supply side challenges to financial inclusion as well as structural impediments. It lays out key priorities for Niger to harness the potential of greater financial inclusion to support the country’s development agenda, including efforts to tackle low financial literacy, promote digitization, and address informality.
Keywords:
Financial Inclusion; Financial Institutions; Niger; Niger's lag; development agenda; Niger banking sector; MFI sector NPL ratio; BCEAO MFI; IMF staff calculation; Digital financial services; Digital currencies; Global
Cover IMF Working Papers
Finance Vaccine Equity: Funding for Day-Zero of the Next Pandemic
Ruchir Agarwal
and
Tristan Reed
A lack of timely financing for purchases of vaccines and other health products impeded the global response to the COVID-19 pandemic. Based on analysis of contract signature and delivery dates in COVID-19 vaccine advance purchase agreements, this paper finds that 60-75 percent of the delay in vaccine deliveries to low- and middle-income countries is attributable to their signing purchase agreements later than high-income countries, which placed them further behind in the delivery line. A pandemic Advance Commitment Facility with access to a credit line on day-zero of the next pandemic could allow low- and middle-income countries to secure orders earlier, ensuring a much faster and equitable global response than during COVD-19. The paper outlines four options for a financier to absorb some or all of the risk associated with the credit line and discusses how the credit would complement other proposals to strengthen the financing architecture for pandemic preparedness, prevention, and response.
Keywords:
COVID-19; pandemics; systemic risks; economic crisis; pandemic advance commitment facility; financing vaccine equity; working paper series; health product; delivery data; Lines of credit; Global; emergency financing facility; pandemic bond; prevention, preparedness, and response; pandemic preparedness partnership; purchase contract date; signing purchase agreements; next pandemic
Cover IMF Working Papers
Beyond the COVID-19 Crisis: A Framework for Sustainable Government-To-Person Mobile Money Transfers
Delphine Prady
,
Hervé Tourpe
,
Sonja Davidovic
, and
Soheib Nunhuck
During the 2020 pandemic, the majority of countries have provided income support to households at an unprecedented speed and scale. Social distancing measures and the large penetration of mobile phones in emerging markets and developing economies (EMDEs) have encouraged government-to-person (G2P) transfers through mobile platforms. This paper presents a comprehensive framework for sustainable money solutions in support of social assistance. The framework consists of eight building blocks that may help policymakers i) take stock and assess emergency fixes taken to scale up mobile money in a crisis context and ii) develop sustainable long-term solutions for mobile G2P transfers.
Keywords:
WP; government; Novissi G2P; country; firm; government assistance program; money; G2P; mobile money; bank account; electronic money; cash transfer; low income; financial service; central bank; Mobile banking; Currencies; Fiscal accounting and reporting; Sub-Saharan Africa; South Asia; Africa; East Asia; Asia and Pacific; Philippines government; CICO network; State transfer; government ecosystem; government assistance; government cash transfer; total cost of ownership; COVID-19
Cover IMF Staff Country Reports
Union of the Comoros: Request for Disbursement Under the Rapid Credit Facility and Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for the Union of the Comoros
International Monetary Fund. African Dept.
This paper presents Union of the Comoros’ Request for Disbursement Under the Rapid Credit Facility and Purchase Under the Rapid Financing Instrument. The Comoros’ authorities should use fiscal policy to cushion the adverse effects of the coronavirus disease 2019 shock and bring the fiscal position back in line with medium-term paths once the crisis has passed. In addition to expanding very substantially healthcare spending to meet the population’s pandemic-related needs, the authorities should consider giving targeted and temporary support to the most vulnerable. Monetary policy should focus on maintaining the exchange rate peg. At the same time, the authorities should use all tools at their disposal to safeguard the stability of the banking system, including by providing liquidity to banks facing liquidity pressures and addressing loan servicing difficulties. Beyond implementing their pandemic preparedness plan and strengthening the health care system’s ability to respond to pandemic needs, the authorities are considering delaying deadlines for tax filings and temporarily lowering customs duties for certain imports. They will monitor inflation developments and maintain the exchange rate peg to the euro. The authorities will also do all they can to ease liquidity strains in the banking system. They are also are working with banks to enable targeted loan maturity extensions.
Keywords:
ISCR; CR; Comoros' financing; remittances inflow; financing; pandemic; financial support; RFI financing; financing needs; emergency financing request; IMF lending tracker; financing need; Debt service; Current spending; Arrears; Credit; Global; COVID-19
Cover IMF Staff Country Reports
Japan: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Japan
International Monetary Fund. Asia and Pacific Dept
The rapid aging and shrinking of Japan’s population will dominate economic policy making in coming decades—impelling a fresh look at the objectives and tools of Abenomics. Six years of Abenomics have yielded some important results, but achieving sustained high growth and durable reflation, while also tackling debt sustainability and a shifting global economic landscape, will require strengthened policies.
Keywords:
ISCR; CR; headline CPI inflation; Japan's Cabinet Office; money market rate; government bond bond yield; guide inflation expectation; price pressure; BoJ's target; Consumption taxes; Inflation; Anti-money laundering and combating the financing of terrorism (AML/CFT); Global; Asia and Pacific
Cover IMF Staff Country Reports
Singapore: Selected Issues
International Monetary Fund. Asia and Pacific Dept
This paper outlines that the banking sector remains healthy, backed by high capital, liquidity, provisioning and profitability ratios. Sector-wide nonperforming loans (NPLs) have increased slightly (to 2 percent in 2017:Q1), due largely to stresses in the Oil and Gas (O&G) services sector. Banks have responded by increasing provisions (using forward-looking measures of impairment) and restructuring their loans. Overall, the banking sector is well-positioned to withstand shocks. Capital and liquidity positions are sufficiently strong and well above regulatory requirements. Capital and liquidity positions of the local banking groups remain strong. Liquidity coverage ratios (LCR) of all three major banks remained high and rose in 2016:Q4, remaining well above the regulatory limits. The turnaround in bank’s profitability (especially the strong performance in 2017:Q1) is attributed to two factors: an acceleration in credit growth and increases in fee income from wealth management services. Local banks have been a key factor behind the wealth management sector’s growth and its main beneficiary.
Keywords:
ISCR; CR; Singapore; private sector; bank; private saving; saving rate; wealth management; property market stability; housing affordability; Private savings; Income; Capital flows; Aging; Macroprudential policy instruments; Global; Asia and Pacific; North America; Australia and New Zealand
Cover IMF Staff Country Reports
Vietnam: Selected Issues
International Monetary Fund. Asia and Pacific Dept
This Selected Issues paper analyzes the impact of environment and climate change on Vietnam’s economic growth. Vietnam’s economy and population are expected to be increasingly affected by climate change. In addition, the country’s growth model—which permitted quick reduction of poverty—has been unsustainably relying on mining and natural resources. The level of air, land and water pollution has also increased in the country. Well aware of the critical challenges faced by the country, the government has undertaken numerous initiatives and programs to adapt the economy to climate change risks and transform the growth model to support an environmental-friendly economy, but significant challenges remain.
Keywords:
ISCR; CR; Vietnam; climate change financing; credit misallocation; A. climate change; IMF staff calculation; climate change risk; Nonperforming loans; Credit; Climate change; Aging; Europe; Mekong; Central and Eastern Europe; Global; Southeast Asia
Cover Finance & Development
Finance and Development, March 2017
International Monetary Fund. External Relations Dept.
Finance and Development, March 2017
Keywords:
FD; F&D; economy; can money; workforce benefit; productivity growth