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Exploiting cross-birth cohort and cross-country variation from a pool of 188 household surveys from 111 countries, this paper measures how life expectancy at birth affects lifetime education and earnings. On average, individuals add one year of schooling for every 8.3 years of increased life expectancy at birth. Lifetime earnings increase by 1.7 percent per year of added life expectancy at birth. The estimates imply that rising life expectancy at birth explains 75 percent of the increase in average years of schooling worldwide for birth cohorts between 1922 and 1987 and 38 percent of the increase in average gross domestic product per capita in the 20th century.

Economics Of Education --- Human Capital Investment --- Human Development --- Labor Force Participation --- Life Expectancy --- Lifelong Learning --- Lifetime Earnings --- Living Standards --- Returns To Education --- Years Of Schooling

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Local transit --- Federal aid to transportation --- Transports publics --- Auditing. --- Federal aid to transportation. --- Local transit --- Finance. --- Finances. --- Finance. --- United States. --- Capital Investment Grant Program (U.S.) --- United States. --- Auditing. --- Auditing. --- United States.

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The past two decades have seen a rapid increase in interest in financial inclusion, both from policymakers and researchers. This paper surveys the main findings from the literature, documenting the trends over time and gaps that have arisen across regions, income levels, and gender, among others. It points out that structural, as well as policy-related, factors, such as encouraging banking competition or channeling government payments through bank accounts, play an important role, and describes the potential macro and microeconomic benefits that can be derived from greater financial inclusion. It argues that policy should aim to identify and reduce frictions holding back financial inclusion, rather than targeting specific levels of inclusion. Finally, it suggests areas for future research.

Banks and Banking --- Finance: General --- Money and Monetary Policy --- Industries: Financial Services --- Economic Development: Financial Markets --- Saving and Capital Investment --- Corporate Finance and Governance --- Financial Markets and the Macroeconomy --- Financial Institutions and Services: Government Policy and Regulation --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Finance --- Monetary economics --- Banking --- Computer applications in industry & technology --- Financial inclusion --- Financial services --- Credit --- Mobile banking --- Financial markets --- Money --- Technology --- Financial sector development --- Financial services industry --- Banks and banking --- Banks and banking, Mobile --- India

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Countries in the MENAP and CCA regions have the lowest levels of financial inclusion of small and medium enterprises (SMEs) in the world. The paper provides empirical evidence on the drivers of SME access to finance for a large sample of countries, and identifies key policy priorities for these two regions: economic and institutional stability, competition, public sector size and government effectiveness, credit information infrastructure (e.g., credit registries), the business environment (e.g., legal frameworks for contract enforcement), and financial supervisory and regulatory capacity. The analysis also shows that improving credit information, economic competition, the business environment along with economic development and better governance would help close the SME financial inclusion gap between MENAP and CCA regions and the best performers. The paper concludes on the need to adopt holistic policy strategies that take into account the full range of macro and institutional requirements and reforms, and prioritize these reforms in accordance with each country’s specific characteristics.

Corporate Finance --- Finance: General --- Money and Monetary Policy --- Industries: Financial Services --- Consumer Economics: Empirical Analysis --- Economic Development: Financial Markets --- Saving and Capital Investment --- Corporate Finance and Governance --- Corporate Finance and Governance: General --- Financial Markets and the Macroeconomy --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Financial Institutions and Services: Government Policy and Regulation --- Financial Institutions and Services: General --- Ownership & organization of enterprises --- Finance --- Monetary economics --- Small and medium enterprises --- Financial inclusion --- Credit --- Bank credit --- Financial services --- Economic sectors --- Financial markets --- Money --- Business environment --- Small business --- Financial services industry --- Business enterprises --- Afghanistan, Islamic Republic of

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The paper uses firm-level data to assess the financial health of the Vietnamese non-financial corporate sector on the eve of pandemic. Our analysis finds that smaller domestic firms were particularly vulnerable even by regional comparison. A sensitivity analysis suggests that the COVID-19 shock will have a substantial impact on firms’ profitability, liquidity and even solvency, particularly in the hardest hit sectors that are dominated by SMEs and account for a sizeable employment share, but large firms are not immune to the crisis. Risks of default can propagate more broadly through upstream and downstream linkages to industries not directly impacted, with stresses potentially translating into an increase in corporate bankruptcies and bank fragility. Policy measures taken in the immediate aftermath of the crisis have helped alleviate liquidity pressures, but the nature of policy support may have to pivot to support the recovery.

Business and Economics --- Health and Fitness --- Accounting --- Finance: General --- Money and Monetary Policy --- Industries: Service --- Diseases: Contagious --- Corporate Finance and Governance: General --- Financing Policy --- Financial Risk and Risk Management --- Capital and Ownership Structure --- Value of Firms --- Goodwill --- Bankruptcy --- Liquidation --- Corporate Finance and Governance: Government Policy and Regulation --- Crisis Management --- Economic Development: Financial Markets --- Saving and Capital Investment --- Corporate Finance and Governance --- Portfolio Choice --- Investment Decisions --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Public Administration --- Public Sector Accounting and Audits --- Health Behavior --- Industry Studies: Services: General --- Finance --- Monetary economics --- Financial reporting, financial statements --- Infectious & contagious diseases --- Liquidity --- Currencies --- Financial statements --- COVID-19 --- Services sector --- Asset and liability management --- Health --- Money --- Public financial management (PFM) --- Economic sectors --- Economics --- Finance, Public --- Communicable diseases --- Service industries --- Vietnam --- Corporations --- COVID-19 (Disease) --- Business and Economics. --- Health and Fitness. --- Accounting. --- Finance: General. --- Money and Monetary Policy. --- Industries: Service. --- Diseases: Contagious. --- Corporate Finance and Governance: General. --- Financing Policy. --- Financial Risk and Risk Management. --- Capital and Ownership Structure. --- Value of Firms. --- Goodwill. --- Bankruptcy. --- Liquidation. --- Corporate Finance and Governance: Government Policy and Regulation. --- Crisis Management. --- Economic Development: Financial Markets. --- Saving and Capital Investment. --- Corporate Finance and Governance. --- Portfolio Choice. --- Investment Decisions. --- Monetary Systems. --- Standards. --- Regimes. --- Government and the Monetary System. --- Payment Systems. --- Public Administration. --- Public Sector Accounting and Audits. --- Health Behavior. --- Industry Studies: Services: General. --- Finance. --- Monetary economics. --- Financial reporting, financial statements. --- Infectious & contagious diseases. --- Liquidity. --- Currencies. --- Financial statements. --- COVID-19. --- Services sector. --- Asset and liability management. --- Health. --- Money. --- Public financial management (PFM). --- Economic sectors. --- Economics. --- Finance, Public. --- Communicable diseases. --- Service industries. --- Economic aspects. --- Vietnam.