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International Transmission of Shocks via Internal Capital Markets of Multinational Banks: Evidence from South Africa

It is well documented that global banks contribute to international shock transmission via cross-border lending. Yet, global banking has taken another form over the recent decades with the expansion of banks abroad via branches and subsidiaries. This expansion has especially happened from and to developing and emerging economies, as countries have opened up their banking sector to foreign investors (Claessens and van Horen, 2012).

Are Anti–Money Laundering Policies Hurting Poor Countries? – New CGD Working Group Report

In 2009, G-8 Leaders set a goal of reducing remittance costs to 5 percent within 5 years, roughly a 5 percentage point decrease. Instead, the cost of sending remittances from G-20 countries to "high risk" countries has stayed almost flat, and to "less risky" countries, has decreased slightly more than 1 percentage point.

Rethinking financial education for the extremely poor

Almost 1 billion people live on less than $1.90 per day. Most of them live in Africa, which means that more than 40% of the continent's citizens experience extreme poverty. What is wrongly assumed is that improved financial literacy and education will improve their financial situation. The OECD measures financial literacy along four dimensions: financial control, financial planning, choosing financial products and financial knowledge.