(This blog was originally published at From poverty to power)
By Eleanor Chowns
Martin Ravallion (former Chief Economist of the World Bank, now at CGD) published a useful paper this week asking exactly this question. As he says, there’s no simple answer – which is why the question is so interesting. Continue reading
(This blog was originally published at FSD Kenya)
By Susan Johnson
Informal financial groups such as merry-go-rounds or chamas are used by 41% of the Kenyan adults while traditional bank accounts are held by only 32% of the population (FinAccess 2016). Analysts often stress the unreliability of informal groups and the risk of loss of money when members of the group default. So why do so many people continue to use them? What is their enduring appeal?