Finance and Inclusive Growth in Low Income Countries: The Impact of Global Banking Regulation

Lead Research Organisation: University of Oxford
Department Name: Blavatnik School of Government

Abstract

In the wake of the global financial crisis, industrialized countries have agreed a series of regulatory reforms to repair and regulate their own financial systems. All countries, including LICs are encouraged to adopt these new global standards. Members of the G20 have asked the Financial Stability Board, IMF and World Bank to study how global banking initiatives will impact developing and emerging economies, identifying this area as a key policy concern for promoting inclusive growth. To date the scant research on this question addresses almost exclusively emerging market economies. LIC governments and advisers have voiced an urgent need for LIC-specific analysis.

This project will be amongst the very first to look at how political institutions and processes - at both the domestic and global levels - shape the impact of global banking initiatives on LICs and their ability to harness financial flows for inclusive growth. The core research questions are:
(1) How much de facto flexibility do LICs have in respect of the new regulatory standards, how much do they need, and under what conditions (economic and political; global, regional and national) should they adopt new regulatory standards?
(2) What strategies for influencing global standard-setting processes and institutions are likely to yield the best outcomes for LICs?

The project combines two disciplinary approaches: political science and economics. It combines quantitative and qualitative analysis, and will generate new datasets. Outputs will include top-quality peer-reviewed academic publications and a series of tailored policy briefs.

The project has been designed to maximize impact through continuous direct engagement with policy-makers confronting the problems the research addresses. The design of the research questions has been undertaken in dialogue with LIC and developing country policy-makers. We will continue to engage policy-makers through semi-structured interviews; annual workshops; and through the project's Expert Advisory Board. The Board includes Vivienne Apopo (Director General, East African Development Bank), Mthuli Ncube (Chief Economist, African Development Bank), Amar Bhattacharya (Director, G24 Secretariat).

Key beneficiaries are regulators, senior government officials, and other stakeholders in LICs engaged with promoting inclusive, sustainable growth. This includes the Community of African Banking Supervisors (CABS); the Banking Commission of the West African Economic and Monetary Union (WAEMU); the Regulatory Committee of the Central Bank of Angola; the National Financial Supervision Council (NFSC) of Vietnam; the Commercial Bank Supervision Department of the Bank of Laos; and the Central Banks of Tanzania and Uganda. Our impact strategy leverages existing close links between several of our researchers and key stakeholders in LICs.

The project will enhance the capacity of LIC governments to make choices about financial regulation, and to ensure global standard-setting processes support these choices. It will also enhance the capacity of scholars and stakeholders in LICs to continue the research in-country: to this end we are working with in-country researchers on the case studies and engaging Southern stakeholders with targeted dissemination. We will engage directly with academic institutions in LICs, such as the Department of Economics, University of Dar es Salaam (Tanzania); the Departments of Economics and Law, University Ouaga II (Burkina Faso); the Economics and Management Faculty of Lomé and Kara Universities (Togo); the Economics Department, Agostinho Neto University (Angola); the Fulbright School (Vietnam, a partnership between Harvard Kennedy School and University of Economics, Ho Chi Minh City).

The project will enjoy a ready exploitation route, building on the excellent track record and extensive network of the Global Economic Governance Programme (GEG) and the Blavatnik School of Government, University of Oxford.

Planned Impact

The project has been, and will continue to be, co-designed with beneficiaries in order to maximize impact at three levels: conceptual impact, through framing debates surrounding global banking initiatives and LICs; instrumental impact, through supporting the development of evidence-based policies for better financial regulation in LICs; and capacity-building impact, through engaging researchers and stakeholders in LICs throughout the process.

Well-functioning financial systems are fundamental to economic performance in LICs, and thus central to development and poverty alleviation. The members of the G20 have asked the FSB, IMF and World Bank to study how global banking initiatives will impact developing and emerging economies, identifying this area as a key policy concern for promoting inclusive growth (forewords to FSB 2012 and FSB, IMF & WB 2011 in the list of documents). Yet to date the scant research on this question addresses almost exclusively emerging market economies. This project will be amongst the very first to look specifically at how political institutions and processes - at both the domestic and global levels - shape the impact of global banking initiatives on LICs and their ability to harness financial flows for inclusive growth.

Beneficiaries of this project include a wide variety of stakeholders engaged with supporting inclusive growth in LICs, such as:

- Policymakers in LICs engaged in processes of financial regulation, including officials in central banks, finance ministries, and regional economic organisations. These include, amongst others, the newly-established Community of African Banking Supervisors (CABS); the Banking Commission of the West African Economic and Monetary Union (WAEMU); the Regional Securities Exchange (BRVM) of WAEMU; the Regulatory Committee of the Central Bank of Angola; the National Unit of Processing Financial Information (CENTIF) of Togo; the National Financial Supervision Council (NFSC) of Vietnam; the Commercial Bank Supervision Department of the Bank of Laos; and the Central Bank of Tanzania.
- Global financial regulatory-setting bodies and economic institutions, including the Basel Committee on Banking Supervision, the Financial Stability Board (FSB), the International Monetary Fund (IMF), the World Bank (WB) and the G20;
- Bilateral aid agencies seeking to support inclusive growth and fight poverty in LICs, including DFID; and
- Both Southern and Northern NGOs concerned with growth and development in LICs and specialized media working in this area.
Outcomes of this research will have local and global resonance. Locally, it will identify strategies for LIC officials designing and executing financial regulatory policies in-country, who will benefit from the increased understanding of both their local situation and the international comparative situation in their work developing effective evidence-based policy. Globally, it will provide valuable knowledge for international regulatory setting agencies and other international institutions on the impact of global banking standards on developing countries, and will support LICs in engaging in these global discussions. Furthermore, other stakeholders engaged in supporting inclusive growth in LICs - including bilateral aid agencies, NGOs and specialized media - will benefit from a richer understanding of the political economy of global banking initiatives in LICs, as this evidence base will allow them to more effectively carry out their projects.

Finally, the project will substantially contribute to capacity building through working directly with LIC-based researchers in the case studies and through engaging Southern research institutions, regional organisations, and government bodies. By building wide networks of both academic and non-academic stakeholders engaged with these issues - across both developed and developing countries - the project will ensure capacity building throughout its lifespan and beyond.
 
Description Working together intensively over three years, and working to a common analytical framework, our team has carefully and systematically analysed the ways in which regulators in developing countries are navigating the politics of contemporary banking regulation. We concentrate on low and lower-middle income countries, where existing scholarship is particularly scarce and focus on eleven jurisdictions across Africa, Asia, and Latin America: Angola, Bolivia, Ethiopia, Ghana, Kenya, Nigeria, Pakistan, Rwanda, Tanzania, the West African Economic and Monetary Union (WAEMU), and Vietnam. We have drawn on a wealth of empirical sources, including policy reports and interviews with more than 200 government officials, politicians, banking sector representatives, and experts. Our research shows how, even in the world's poorest developing countries, growing financial interdependence decisively shapes regulatory decisions, and in unexpected ways. Contrary to our initial expectations and much of the received scholarly wisdom we show how pressure from international organizations and global banks has relatively little purchase over regulatory decisions in many developing countries. Our analysis shows how an emerging set of actors in developing countries - internationally- oriented politicians, reformist technocrats, and large banks - drives the implementation of international banking standards. Our research highlights a paradox: international banking standards are not set with developing countries in mind, and the governments that set international banking standards are largely ambivalent as to whether countries in the periphery implement the standards. Although we would not expect regulators in many developing countries to adopt the standards under conditions of autarky, as they are far from optimal, we show how economic interdependence changes this calculus, providing powerful incentives for large domestic banks, politicians, and regulatory agencies to champion their implementation.
Exploitation Route The findings of our research project can be taken forward by a variety of actors. On the academic side, we offer scholars access to a new dataset that can be used for further research on the political economy of financial regulation. In addition, the edited volume (OUP 2019) and a series of peer-reviewed articles to be published in 2017-2019 will provide scholars with a novel analytical framework and in-depth case studies of the politics of banking regulation in 11 low- and lower-middle income countries. Area experts can build on this insight in extending the analysis of a given country and region beyond banking standards while scholars of international political economy can apply our analytical framework and methodological innovations to a wider range of countries and issue areas.

On the practitioner side, regulators in developing countries can rely on the edited volume, the website, two policy briefs, and 3 articles (published in VoxEU, OMFIF, International Banker respectively) as they weigh the pros and cons of domestic Basel implementation. Moreover, our findings have entered the global policy discourse: the World Bank-affiliated Consultative Group to Assist the Poor reports citing our research in their advocacy work, as are members of the Basel Consultative Group and the Alliance for Financial Inclusion.
Sectors Financial Services, and Management Consultancy,Government, Democracy and Justice,Security and Diplomacy

URL https://www.geg.ox.ac.uk/project/developing-countries-navigating-global-banking-standards
 
Description We have engaged extensively with policy practitioners in developing countries and international organisations, particularly during 2018, 2019 and 2020 (see section on engagement). Team members have been invited to present our research findings at a long list of places, including at the Committee of African Bank Supervisors, Bank for International Settlements, European Commission, IMF, African Development Bank, Alliance for Financial Inclusion (international meetings in Cambodia and Russia), and at the central banks and regulatory authorities of Kenya, Argentina, Bolivia, Ghana, Nigeria, Burkina Faso, Cote d'Ivoire, India, Rwanda, UK, and USA, among others. These policymakers have received our policy briefs to inform the ongoing debate on proportional standards implementation in low and lower middle income countries. One agency (CGAP) has reported using an academic article (Jones & Knaack 2019) in their advocacy work at the global standard-setting bodies in Basel. A working group of regulators from developing countries, which meets under the auspices of the Alliance for Financial Inclusion, is using our research as an input to their policy debates. The Financial Stability Institute, a think tank for central bankers at the Bank of International Settlements (where international banking standards are set) invited us to present at the "FSI/IMF global meeting on proportionality in financial regulation and supervision" 8-9 May 2019 in Basel, Switzerland. The Committee of African Bank Supervisors asked us to present at their annual meeting in Cairo, Egypt in June 2019. Emily Jones and Peter Knaack were invited to join the T20 Taskforce on "International Financial Architecture for Stability and Development", and Thorsten Beck was been invited to co-chair a Working Group at the Centre for Global Development on "Making Basel III work for emerging markets and developing economies". Our research is creating greater awareness on the need for reform and is helping to shift the international policy debate. During 2019 we were excited to see a change in the approach of major organisations including the Bank for International Settlements, IMF and World Bank. In May 2019 the Financial Stability Institute and IMF convened the first international workshop of senior regulators from around the world to discuss proportional application of banking standards, an approach directly aligned with the recommendations from our project research, and they invited Emily Jones and Thorsten Beck to present the project findings. This was followed, by a new publication from the IMF in June 2019 which, for the first time, advocated a proportional application of Basel standards ("From Basel I to Basel III: Sequencing Implementation in Developing Countries"). The paper provided advice in line with our own policy recommendations, although it did not cite our work. In November 2019 the World Bank's flagship Global Finance and Development Report cited our work and provided analysis and made policy recommendations in line with our project findings and recommendations. During 2019 the Alliance for Financial Inclusion also produced a guidance note for its members on SME financing, which extensively cited our work. In November 2019 the Basel Committee on Banking Standards and the Basel Consultative Group issued a joint statement on proportionality which echoed our project findings although it did not cite our work (or the work of any other academics). This was an important signal from those charged with designing international banking standards endorsing the approach that our project advocates. Again it is hard to attribute this to our research, but as we have been involved in discussions with senior officials from these organisations, including at the May 2019 FSI-IMF workshop (which included key representatives from the Basel Consultative Group and Basel Committee) it is plausible that our research has helped contributed to this shift in policy.
First Year Of Impact 2019
Sector Financial Services, and Management Consultancy,Government, Democracy and Justice,Other
Impact Types Policy & public services

 
Description AFI SME Finance Guidance Note
Geographic Reach Multiple continents/international 
Policy Influence Type Citation in other policy documents
URL https://www.afi-global.org/sites/default/files/publications/2019-08/AFI_GN36_sme_AW_digital.pdf
 
Description CEMLA Regional Seminar
Geographic Reach South America 
Policy Influence Type Citation in other policy documents
URL https://www.cemla.org/PDF/discursos/2019-03-smj-sao-paulo.pdf
 
Description CIGI Report Emerging Countries in Global Financial Standard Setting
Geographic Reach Multiple continents/international 
Policy Influence Type Citation in other policy documents
URL https://www.cigionline.org/sites/default/files/documents/Andrew%20Walter%202019%20Special%20Report.p...
 
Description Citation in World Bank flagship report - Global Finance and Development Report 2019-20
Geographic Reach Multiple continents/international 
Policy Influence Type Citation in other policy documents
URL https://www.worldbank.org/en/publication/gfdr
 
Description Citation in World Bank flagship report - Global Financial Development Report 2019-20
Geographic Reach Multiple continents/international 
Policy Influence Type Citation in other policy documents
URL https://www.worldbank.org/en/publication/gfdr
 
Description Citation in World Bank research paper
Geographic Reach Multiple continents/international 
Policy Influence Type Citation in other policy documents
URL http://documents.worldbank.org/curated/en/441951575300867782/pdf/Basel-III-Implementation-and-SME-Fi...
 
Description Cited in AFI SME Finance Guidance Note
Geographic Reach Multiple continents/international 
Policy Influence Type Citation in other policy documents
URL https://www.afi-global.org/sites/default/files/publications/2019-08/AFI_GN36_sme_AW_digital.pdf
 
Description Swiss Finance Council Report
Geographic Reach Multiple continents/international 
Policy Influence Type Citation in other policy documents
URL http://www.swissfinancecouncil.org/images/pdf/SFC_Discussion_Paper_2018.pdf
 
Description John Fell Fund of Oxford University Press (Grant 162/073)
Amount £7,030 (GBP)
Funding ID John Fell Fund of Oxford University Press (Grant 162/073) 
Organisation Oxford University Press 
Sector Private
Country United Kingdom
Start 06/2017 
End 09/2017
 
Title Database adoption of international banking standards around the world 
Description We have compiled a database on the adoption of specific components of Basel II and III by approx. 100 countries outside of the Basel Committee on Banking Standards from 2004-2015. This data was coded from the annual surveys conducted by the Financial Stability Institute. It includes data on 40+ low- and lower-middle income countries. 
Type Of Material Database/Collection of data 
Year Produced 2019 
Provided To Others? Yes  
Impact This database was used to analyse factors driving the adoption of Basel II standards around the world, and was the basis for two journal articles (one published, one under review) listed in the publications section. The database has been shared with two sets of other researchers who have emailed us requesting it. As at March 2019 we have created a clean dataset and codebook for the project website - it should be online in a few weeks. 
URL https://www.geg.ox.ac.uk/project/developing-countries-navigating-global-banking-standards
 
Description CGD Working Group 
Organisation Center for Global Development
Country United States 
Sector Charity/Non Profit 
PI Contribution Thorsten Beck is co-chairing the CGD Working Group on 'Making Basel III Work for Emerging Markets and Developing Economies'. Analysis and evidence of the drivers of adoption of international banking standards in low- and lower-middle income countries; proposals on how to reform international standard-setting to better reflect the interests of developing countries, especially low- and lower-middle income countries.
Collaborator Contribution Analysis of the impact of Basel III developing countries
Impact Forthcoming CGD policy report from the working group.
Start Year 2018
 
Description 1:1 meetings in Argentina (regulatory officials from Central Bank of Argentina) 
Form Of Engagement Activity A formal working group, expert panel or dialogue
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact Meetings with regulatory officials from the Central Bank of Argentina to discuss what financial policymakers in the G20 can do to incorporate proportionality into the design of global financial standards in a way that aligns with the prudential regulatory needs of developing countries.
Year(s) Of Engagement Activity 2018
URL https://www.geg.ox.ac.uk/news/t20-summit-participants-discuss-geg-research
 
Description 1:1 meetings in Rwanda (international organisations) 
Form Of Engagement Activity A formal working group, expert panel or dialogue
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact Pritish Behuria held bilateral meetings with senior staff from the World Bank, the European Union, DfiD, and the United Nations Economic Commission for Africa.
Year(s) Of Engagement Activity 2018
 
Description 1:1 meetings with International Organisations 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact A series of meetings were held with leading international organisations working on banking regulation. These included senior officials at the Consultative Group to Assist the Poor (CGAP) in Paris, France; at the Financial Stability Board (FSB) in Basel, Switzerland; and the Alliance for Financial Inclusion (AFI) via Skype. These organisations are all very interested in the project research and preliminary findings and have proposed further engagement. This includes attending the AFI annual meeting (Cambodia April 2017) to present the project findings to banking regulations from around the world.
Year(s) Of Engagement Activity 2017
 
Description Academic conference - PEIO 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other audiences
Results and Impact Presented the project findings during poster session at an international workshop of leading international political economy scholars, including postgraduate students.
Year(s) Of Engagement Activity 2020
URL https://www.peio.me/the-13th-annual-conference/
 
Description Bank of England 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Policymakers/politicians
Results and Impact Emily Jones and Thorsten Beck presented research findings at research seminar at the Bank of England, February 2019. Audience was approx. 30 officials from departments in the BoE, including from the Prudential Regulatory Authority
Year(s) Of Engagement Activity 2019
URL https://www.geg.ox.ac.uk/news/emily-jones-presents-bank-england
 
Description Basel Meeting 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact Emily Jones and Thorsten Beck were invited by the Bank for International Settlements to a global workshop on proportionality on financial regulation and supervision, on 8 May, in Basel, Switzerland. The meeting brought together banking regulators from more than 20 industrialised and developing countries, and experts from the IMF and Financial Stability Institute. Emily Jones presented the core findings of the research project which sparked a discussion on the advice that the IMF and other organisations should be providing to regulators in developing countries.
Year(s) Of Engagement Activity 2019
URL https://www.geg.ox.ac.uk/news/emily-jones-presents-research-bank-international-settlements-switzerla...
 
Description Blavatnik in Whitehall 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Policymakers/politicians
Results and Impact Emily Jones presented project findings at the Blavatnik in Whitehall series (June 2018). Audience was approx. 30 senior civil servants from across UK government
Year(s) Of Engagement Activity 2018
 
Description Cairo - Committee of African Central Banks 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact GEG's Director, Emily Jones, was invited by the Community of African Bank Supervisors to present at their annual meeting in Cairo, Egypt, on 10 June 2019. The meeting was hosted by the Central Bank of Egypt and brought together heads of banking supervision from 25 different African countries and regional bodies, and representatives from international organisations including the Financial Stability Institute and World Bank
Year(s) Of Engagement Activity 2019
URL https://www.geg.ox.ac.uk/news/emily-jones-presents-research-community-african-banking-supervisors
 
Description Conference on Inclusive Finance, Rotterdam 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other audiences
Results and Impact Thorsten Beck - 30.11.2018 - Rotterdam - Presentation at Conference on inclusive finance - audience approx. 50, mostly academic, some practitioners
Year(s) Of Engagement Activity 2018
 
Description DFID Chief Economist seminar series 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Policymakers/politicians
Results and Impact In November 2019 Emily Jones was invited to present the project findings at the DFID chief economist's lunchtime seminar series. The seminar was chaired by DFID's chief economist and the audience included approx. 20 DFID economists / advisors.
Year(s) Of Engagement Activity 2019
 
Description Dissemination - Angola 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Industry/Business
Results and Impact Rebecca Engebretson (09.2018 via email). Shared website and the relevant policy briefs with Angolan private bank Banco de Fomento Angola. Interested in our work. The team that we spoke to, Economic Research Office, shared our research with the compliance department in the Bank. No follow up questions yet.
Year(s) Of Engagement Activity 2018
 
Description Ghana - Ministry of Finance and Central Bank 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact GEG's Director, Emily Jones, presented research findings to policymakers at Ghana's Ministry of Finance and at the Bank of Ghana in August 2019. Ghana has just started implementing Basel II and III standards. The presentations were an opportunity to discuss how Ghana and other developing countries are responding to international banking standards and tailoring them to fit the local context. The presentations were organised in collaboration with the International Growth Centre - Ghana.
Year(s) Of Engagement Activity 2020
URL https://www.geg.ox.ac.uk/news/ghana-grapples-international-banking-standards
 
Description INET online presentation 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Postgraduate students
Results and Impact Presented research project findings in online webinar organised by INET. Part of a series on Basel III. Other speakers in series included Charles Goodhart and Anat Admati. Audience comprised postgraduate students.
Year(s) Of Engagement Activity 2016
URL https://ysi.ineteconomics.org/workinggroup/financial-stability
 
Description Informal Meeting FATF 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Professional Practitioners
Results and Impact Rebecca Engebretson (10.02.2019. Paris). Informal presentation. Two practitioners from the FATF. The FATF was interested in the policy recommendation that sprung from the project and especially the points on proportionality, as this is also something that the FAFT is concerned with in ensuring better implementation of the FATF AML/CFT standards within members of its Global Network (which includes over 190 countries). I shared with them info about our websites and policy briefs.
Year(s) Of Engagement Activity 2019
 
Description Interactive project website 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact This new sub-site presents the results of a three-year research project examining the politics of bank regulation in developing countries, with a focus on Low and Lower-Middle Income Countries (LMICs). It brings together a team of researchers with expertise in political economy of banking regulation in eleven countries on three continents.
Year(s) Of Engagement Activity 2017,2018
URL https://www.geg.ox.ac.uk/project/developing-countries-navigating-global-banking-standards
 
Description International Banker 
Form Of Engagement Activity A magazine, newsletter or online publication
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Industry/Business
Results and Impact Short article presenting research findings published in International Banker (global leading source of authoritative analysis and opinion on banking, finance and world affairs).
Year(s) Of Engagement Activity 2018
URL https://internationalbanker.com/banking/basel-iii-in-developing-countries-a-difficult-relationship/
 
Description OMFIF Article 
Form Of Engagement Activity A magazine, newsletter or online publication
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Industry/Business
Results and Impact Short piece summarising research findings published in The Bulletin, the magazine of OMFIF (Official Monetary and Financial Institutions Forum is an independent think tank for central banking, economic policy and public investment - a non-lobbying network for best practice in worldwide public-private sector exchanges)
Year(s) Of Engagement Activity 2018
URL https://www.omfif.org/media/5455136/btn_12_web.pdf
 
Description PEFM Finance in Africa Conference (Oxford) 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Professional Practitioners
Results and Impact Emily Jones and Florence Dafe presented project research findings at PEFM's Conference on Finance In Africa (April 2018). Speakers / participants included senior officials from African Central Banks and Ministries of Finance, IMF, Financial Stability Board
Year(s) Of Engagement Activity 2018
 
Description Present work to DFID 
Form Of Engagement Activity A formal working group, expert panel or dialogue
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Professional Practitioners
Results and Impact Florence Dafe presented our work to DFID's Financial Sector Team (Mike Foster and Andrew Stalbaum).
Year(s) Of Engagement Activity 2018
 
Description Presentation - Chile 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Professional Practitioners
Results and Impact Thorsten Beck - Santiago de Chile - 16.11.2018 - Keynote at banking conference, co-organised by regulator - Audience 150 to 200; mixed academics and practitioners
Year(s) Of Engagement Activity 2018
 
Description Presentation - Vietnam 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Professional Practitioners
Results and Impact Que Giang presented the Vietnam case study at the Fulbright School of Public Policy and Management, Vietnam, in December 2017, to an audience of approx. 30 participants, many of which were practitioners from the banking sector. She held follow-up meetings with participants about Basel implementation at their institutions.
Year(s) Of Engagement Activity 2017
URL https://www.fsppm.fuv.edu.vn/en/news-events/on-campus/banking-regulations-reform-in-vietnam-the-poli...
 
Description Presentation - Vietnam 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach National
Primary Audience Professional Practitioners
Results and Impact Que Giang presented the Vietnam case study at the Fulbright School of Public Policy and Management, Vietnam, to present our research in January 2016 to about 30 participants, many of which were practitioners from the banking sector. She had follow-up meetings with participants about Basel implementation at their institutions.
Year(s) Of Engagement Activity 2016
URL https://fsppm.fuv.edu.vn/en/news-events/on-campus/global-financial-regulation-spillover-the-case-of-...
 
Description Presentation at AFI annual conference in Sochi, Russia 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact PI Prof. Emily Jones shared our research results at the annual Global Policy Forum, the flagship event of the Alliance for Financial Inclusion (AFI), with attendants from 28 developing countries.
Year(s) Of Engagement Activity 2018
URL https://www.geg.ox.ac.uk/news/2018-afi-global-policy-forum
 
Description Presentation at AFI meeting in Cambodia 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact Our research was presented at a seminar of the AFI Global Standards Proportionality Group: the presentation was followed by a 30min discussion with and among financial regulators from over 20 developing countries.
Year(s) Of Engagement Activity 2018
URL https://www.geg.ox.ac.uk/news/gegs-peter-knaack-alliance-financial-inclusion
 
Description Presentation at AfDB 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact Radha Upadhyaya presented at an AfDB (African Development Bank) workshop. She shared details of the Kenya case study and distributed policy briefs with policy markers including regulators from across the African continent.
Year(s) Of Engagement Activity 2018
URL https://www.geg.ox.ac.uk/project/projectpublications
 
Description Presentation at Central Bank of Nigeria 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact Florence Dafe presented the results of the project at the Central Bank of Nigeria and Nigeria Deposit Insurance Corporation, as well as DFID Nigeria
Year(s) Of Engagement Activity 2018
 
Description Presentation at Kenya Bankers' Association 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact Radha Upadhyaya presented at the Kenya Bankers' Association Conference, where she shared details on the Kenya, Rwanda, and Tanzania case studies, and distributed policy briefs to a large groups of bankers and policy makers (including to those at the Central Bank of Kenya).
Year(s) Of Engagement Activity 2018
 
Description Presentation at Reserve Bank of India 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact Peter Knaack presented research and findings to officials in the Regulatory Department of the Reserve Bank of India
Year(s) Of Engagement Activity 2018
URL https://www.geg.ox.ac.uk/news/indian-policymakers-engage-geg-flagship-research-project
 
Description Presentation at SOAS, London 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other audiences
Results and Impact Emily Jones presented research findings at SOAS, University of London, in February 2018. While the event participants were primarily academics, a senior officials and researchers were present from the United Nations Economic Commission on Africa (UNECA) and the Overseas Development Institute (ODI). This presentation has led to requests for further engagement.
Year(s) Of Engagement Activity 2018
 
Description Presentation at Think 20 Summit (Argentina) 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Professional Practitioners
Results and Impact This year, GEG Research Associate Peter Knaack presented the results of the project at the Think 20 Summit in Argentina. Attendees discussed the findings of the three-year research project, and considered the messages of two brand-new policy briefs.
Year(s) Of Engagement Activity 2018
URL https://www.geg.ox.ac.uk/news/t20-summit-participants-discuss-geg-research
 
Description Presentation at University of Nairobi 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact Radha Upadhyaya presented at the University of Nairobi, at an inter-disciplinary conference. She shared details on the Kenya, Rwanda, and Tanzania case studies, and distributed policy briefs with academics and policy makers including staff from the Kenya Vision 2030 secretariat.
Year(s) Of Engagement Activity 2018
 
Description Presentation at the IMF (Washington DC) 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact Peter Knaack spoke with policymakers at the IMF headquarters in Washington, DC. The Fund kindly hosted a seminar for a group of staff members from the Strategy, Policy, and Review, and the Monetary and Capital Markets Departments, where Peter presented the key takeaways from the research and participated in a discussion on how cross-border inconsistencies in policy advice by the Bank and the Fund can be addressed. Policymakers agree that the Fund can do more to advise low-income client countries on the challenges of implementing Basel II/III and the benefits of proportionality in global standards implementation.
Year(s) Of Engagement Activity 2018
URL https://www.geg.ox.ac.uk/news/peter-knaack-presents-imf
 
Description Presentation in Kenya (African Economic Research Conference) 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Professional Practitioners
Results and Impact Peter Knaack presented interim results of the Banking Standards in Low and Lower Middle Income Countries (LMIC) project at a conference in Nairobi, Kenya. Hosted by the ESRC, DFID, ODI and the African Economic Research Council, the conference brought together scholars working on agriculture, innovation and financial inclusion on the African continent.
Year(s) Of Engagement Activity 2018
URL https://www.geg.ox.ac.uk/news/presenting-geg-research-african-economic-research-conference
 
Description Presentation in Rwanda at Tony Blair Institute and DfID (Rwanda) 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact Pritish Behuria presented the research results at both the Tony Blair Institute for Global Change (which has advisors in several Rwandan government ministries) and at an event at DfiD (which included the Deputy High Commissioner, FCO officials, DfiD and other members of the Donor community).
Year(s) Of Engagement Activity 2018
 
Description Presentation to African Central Bank Governors (in Oxford) 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact The project research and headline findings were presented at a Roundtable of African Central Bank Governors in June 2016, and June 2017. The Central Bank Governors, Deputy Governors, and senior officials came from approx. 20 different African countries. This led to a request to present the work to African banking regulators, and we are exploring ways to do this.
Year(s) Of Engagement Activity 2016,2017
 
Description Research presented in China (State Council Development Research Center) 
Form Of Engagement Activity A formal working group, expert panel or dialogue
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact Peter Knaack received an invitation from the State Council Development Research Center to present the results of this research project on how low-income countries around the world respond to global financial standards. The research trip allowed Peter to meet with scholars and policymakers to gain a deeper understanding of the political economy of global financial regulation from a Chinese perspective.
Year(s) Of Engagement Activity 2018
URL https://www.geg.ox.ac.uk/news/peter-knaack-presents-research-china
 
Description Roundtable meeting (Abidjan, Cote d'Ivoire) 
Form Of Engagement Activity A formal working group, expert panel or dialogue
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact Seydou Ouedraogo and Ousseni Illy ran a roundtable with bankers, government representatives, central bankers, private sector organisations, Commission Bancaire (Cote d'Ivoire).
Year(s) Of Engagement Activity 2018
 
Description Roundtable meeting (Ouagadougou, Burkina Faso) 
Form Of Engagement Activity A formal working group, expert panel or dialogue
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Professional Practitioners
Results and Impact Seydou Ouedraogo and Ousseni Illy ran a roundtable with bankers, government representatives, central bankers, private sector organisations (Burkina Faso).
Year(s) Of Engagement Activity 2018
 
Description SOAS presentation (Jan 2020) 
Form Of Engagement Activity A talk or presentation
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Other audiences
Results and Impact On 22 January, Emily Jones delivered a talk on the politics of banking regulations in developing countries at SOAS as part of the Centre for Global Finance (CGF) Seminar Series. Audience of approx. 40 people - mainly academics but also included a few practitioners, including former governor of central bank of Tanzania.
Year(s) Of Engagement Activity 2020
URL https://www.geg.ox.ac.uk/news/political-economy-bank-regulation-developing-countries-risk-and-reputa...
 
Description Vietnam Roundtable 
Form Of Engagement Activity Participation in an activity, workshop or similar
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact On Friday, Dec 13th Que-Giang Tran-Thi and Tu-Anh Vu-Thanh (contributing authors) hosted a roundtable to share the project's research findings with senior policymakers and practitioners in Vietnam including representatives from the State Bank of Vietnam, the prime minister's economic advisory committee, and from state owned banks
Year(s) Of Engagement Activity 2019
 
Description VoxEU 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Professional Practitioners
Results and Impact Published a short piece on VoxEU.org - a key blog for practitioners and academics working on economic policy issues. Read 5700 times as at March 2019
Year(s) Of Engagement Activity 2018
URL https://voxeu.org/article/basel-standards-and-developing-countries
 
Description Website and publication dissemination 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Policymakers/politicians
Results and Impact • Disseminated website and the relevant policy briefs to key stakeholders, including the Nigerian Central Bank, the Nigerian Deposit and Insurance Cooperation (NDIC), West African Institute for Financial and Economic Management (WAIFEM), DFID and IMF office in Nigeria and the World Bank office in Nigeria;
• Shared the website, policy briefs, and Kenya case study with key stakeholders including Central Bank of Kenya and all people interviewed for the Kenya case study;
• Shared the website and the relevant policy briefs with key stakeholders, including Angola private banks, World Bank Africa Division.
• Publicised website widely through academic channels, including the Blavatnik School of Government, Global Economic Governance Programme, and social media.
Year(s) Of Engagement Activity 2018
URL https://www.geg.ox.ac.uk/project/developing-countries-navigating-global-banking-standards
 
Description World Bank Africa Division 
Form Of Engagement Activity Engagement focused website, blog or social media channel
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Professional Practitioners
Results and Impact Rebecca Engebretson (09.2018 via email). Shared project website and the relevant policy briefs with World Bank Africa division. Interested in our work, have subsequently requested further information on Angola financial sector.
Year(s) Of Engagement Activity 2018