POLICY AND FINANCIAL LEVERS Produced by: Dietrich C, Muir J, Kohler - - PowerPoint PPT Presentation

University of Washington START Program Asset Building: Financial and Policy Levers

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ASSET BUILDING POLICY AND FINANCIAL LEVERS

Produced by: Dietrich C, Muir J, Kohler P

10/15/2015

University of Washington START Program Asset Building: Financial and Policy Levers

|  Project Objectives and Deliverables  Timeline  Overview Sub-related Issues of Interest  Methods  Results  Future Areas for Investigation  Lessons Learned

Meeting Agenda

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Agenda

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University of Washington START Program Asset Building: Financial and Policy Levers

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Project Objectives and Deliverables

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To scope policy and finance levers that support women’s access to and ownership of productive assets, including financial assets, immovable property, and ICT.

• Not interventions

OBJECTIVES Phase I: Proposed taxonomy of known policy and finance levers Phase II: Literature review of existing case studies or synthesis on policy levers and finance tools Phase III: Short paper summarizing the evidence (Held) DELIVERABLES

Asset Building Work Order to the UW START Team

University of Washington START Program Asset Building: Financial and Policy Levers

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Timeline

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Timeline

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Phase 2: Literature Review Phase 1: Polish Typology

• Fill in and organize list provided with:
• Expert input
• Literature scan

Confirm Work Plan

• Policy brief

for India, Ethiopia, Nigeria, and Tanzania

= Check-In Point

• Case study literature review

Phase 3: Short paper

University of Washington START Program Asset Building: Financial and Policy Levers

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High Level Typology

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Phase I: Typology

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Asset Building

Policies and processes to protect property rights and property transfer Social norms on women's property

• wnership and use

Financing to provide and support assets Financing and policies to mitigate shocks Financing and policies to support incomes Policies on the broader environment Market/marketin g solutions Financing and policies to support asset-building loans

Asset Type and Policy Existence Two-by-two

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Financial/Physical Practice

Marital Property Regimes Inheritance Registration Divorce Law Identification House Titling De facto Inheritance Access Community Goods HH Decision-making HoH Transfer of Assets Subsidies & Tax Credits Unpaid Labor Pensions/Retirement Leasing/Renting Eliminating Dowry Insurance Safety Nets Increase Ag Productivity Address Constraints Access to Employment Progressive Tax Migration & Remittances Supporting Women’s Groups Tailoring Assets SMEs Reducing Liabilities Valuation of Assets Better Paid Employment Prop rights/transfer Social norms F to provide/suppo rt assets F/P mitigate shocks F/P to support incomes P on broader environment Market/Marketing F/P to support loans

Theory Human/Social

Govt Mobile Pay Child Marriage

Asset Type and Policy Existence Two-by-two

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Financial/Physical Practice

Marital Property Regimes Inheritance Registration* Divorce Law Identification House Titling

Theory Human/Social

De facto Inheritance Access Community Goods HH Decision-making HoH* Child Marriage* Subsidies & Tax Credits Govt Mobile Pay Progressive Tax Prop rights/transfer Social norms P on broader environment F to provide/suppo rt assets

Asset Type and Policy Existence Two-by-two

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Financial/Physical Practice

Marital Property Regimes Inheritance Registration* Divorce Law Identification House Titling

Theory Human/Social

De facto Inheritance Access Community Goods HH Decision-making HoH* Child Marriage* Subsidies & Tax Credits Govt Mobile Pay Progressive Tax Prop rights/transfer Social norms P on broader environment F to provide/suppo rt assets

Asset Type and Policy Existence Two-by-two

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Financial/Physical Practice

Marital Property Regimes Inheritance Registration* Divorce Law Identification House Titling

Theory Human/Social

De facto Inheritance Access Community Goods HH Decision-making HoH* Child Marriage* Subsidies & Tax Credits Govt Mobile Pay Progressive Tax Prop rights/transfer Social norms P on broader environment F to provide/suppo rt assets

University of Washington START Program Asset Building: Financial and Policy Levers

|  Timeframe: 2000-2015*  Sources

 PAIS International  World Bank eLibrary  Web of Science  Sociological Abstracts  EconLit

Literature Review

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Methodology

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University of Washington START Program Asset Building: Financial and Policy Levers

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Search Structure

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Methodology

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Sub-related topic of interest

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AND (asset OR property OR savings)

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AND (women OR gender)

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AND (India)

Terms

Specific Priority Assets of interest Country Population

University of Washington START Program Asset Building: Financial and Policy Levers

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Literature Review

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Methodology

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Title Review All “Hits” (n=1136)

Exclusions (n=956) Head of Household 58 Marital Property Regimes 48 Subsidies and Tax Credits 74

Abstract Review: (n=180) Full Text Scan (n=56) Final Table Inclusions: (n=14)

Head of Household 348 Marital Property Regimes 344 Subsidies and Tax Credits 444 Head of Household* 3 Marital Property Regimes* 1 Inheritance Regimes (female) 7 Subsidies and Tax Credits 3

University of Washington START Program Asset Building: Financial and Policy Levers

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Inclusion Criteria

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Methodology

10/15/2015  India  Identifying sub-related issue of interest  Alluding to policy  Examination of asset differences &

preferably change in asset level for physical & financial assets

 Report gender-sensitive outcomes  Primary data qualitative and quantitative

highly preferred

University of Washington START Program Asset Building: Financial and Policy Levers

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Phase II: Deliverable Handout

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Results: Deliverable

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 14 studies: variety of study types, data, and analyses  Main highlights and discussion are on handout  MS Excel spreadsheet contains additional information

University of Washington START Program Asset Building: Financial and Policy Levers

|  Background (Women Business and the Law Report, 2014):

 Full Community of Property  Partial Community of Property  Deferred Full or Partial Community of Property  Separation of Community of Property

 Defacto regime in India

 Policies to change India’s marital property regime were not identified  Compensatory efforts potentially reflected by joint titling and evaluations of

asset control

 Example: “My Home, My Land” or Nijo Griha, Nijo Bhumi (NGNB) program

 Joint titling associated with increased loan taking and investment in

productive assets from women

Marital Property Regimes

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Results

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University of Washington START Program Asset Building: Financial and Policy Levers

|  “Marital regimes interact with inheritance regimes to determine asset ownership when

a spouse dies.“ – Deere et al. (2013)

 Key Legislation:

 Hindu Succession Act of 1956  Hindu Succession Act Amendment (HSAA) of 2005

 Reviewed seven studies on HSAA

 Five comparison studies  Two post studies

 Overall, studies demonstrate continued gender inequalities following the HSAA  Comparison studies indicate increases in female property ownership after HSAA

Inheritance Regimes

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Results

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University of Washington START Program Asset Building: Financial and Policy Levers

|  Comparison Studies of HSAA:

 Four of the five comparison studies find that property ownership increased for

women

 Example: Deininger et al. (2013) finds that second generation Hindu

females who married after HSAA received 17% more assets in value compared to those who married prior to HSAA

 Roy et al. (2015), one of the five comparison studies, finds evidence of asset

compensation, but no meaningful increase in inherited land for females

Inheritance Regimes (continued)

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Results

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University of Washington START Program Asset Building: Financial and Policy Levers

|  Policies to change defacto head of household (male) were not identified  Only one article addressed a “head of household” policy that helps women

increase their ability to build assets through shared ownership of residence

 Joint residence titling

 65% of women reporting that they felt empowered to prevent their

husbands from selling their residence

 30% of women reporting higher activity in decision-making processes  18% of women reporting that they had actually succeeded in preventing

their husbands from selling their residence

Head of Household

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Results

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University of Washington START Program Asset Building: Financial and Policy Levers

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Additional related studies:

 Deininger et al. (2008) - land rental restriction policies resulted in land being

transferred from female-headed households to households headed by lower educated men.

 Subramanian (2008) - housing reform policies in which land was allotted to

heads of household resulted in women gaining greater access and control of property as they increase in age and achieve higher social status, but their gains are consistently outpaced by men’s

Head of Household (continued)

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Results

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University of Washington START Program Asset Building: Financial and Policy Levers

|  Three categories of government subsidies were identified:

 Agricultural subsidies  Food subsidies  Bank subsidies

 Agricultural and food subsidies:

 Discussed in the literature as mechanisms for improving general social welfare  Not directly connected to asset building for women in India  Data were not sex-disaggregated  Referred to outcomes other than asset building; e.g., health

 Government subsidies supported banks in financing “Self-Help Groups” (SHGs)

 Effectiveness of these subsidy programs varied, but may have improved over

time

Subsidies and Tax Credits

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Results

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University of Washington START Program Asset Building: Financial and Policy Levers

|  Example 1: Integrated Rural Development Program (IRDP)

 Originated in 1978  Benefitted land owning households and the near- or non-poor  Least helpful for the poorest among the poor  Ultimately failed

 Example 2: SHG-Bank Linkage programs

 72 percent increase in asset position  Savings accounts tripled in value

 Progressive tax and/or “tax credit” policies were not identified

Subsidies and Tax Credits (continued)

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Results

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University of Washington START Program Asset Building: Financial and Policy Levers

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Phase II: Summary

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Deliverable: Summary

10/15/2015  No policies were identified that explicitly change either the current marital

property regime or the default status of male as head of household in India.

 Joint titling requires shared ownership of assets and some evidence indicates that

it is effective in increasing women’s asset building.

 Our interpretation of these findings is that joint titling is a potential way to get around or

work within the defacto marital property regime and male head of household and increase women’s asset building potential.

 Government subsidies that encourage banks to finance women’s Self-Help Groups

were generally successful in increasing women’s asset building.

 Inheritance policies have a general trend towards increasing women’s asset

building.

 No policy panaceas for gender disparities in asset ownership and control

University of Washington START Program Asset Building: Financial and Policy Levers

|  Topics

 Joint titling in the context of marital separation of property regimes  Previously identified interests that were not prioritized in this review:

 Community Goods  Registration  Identification  Child Marriage  Customary Laws  Government Mobile payments  Identified Resources*

 NGO gray literature search

 https://www.google.com/cse/home?cx=012681683249965267634:q4g16p05-ao

 ICT (IEEE Xplore and INSPEC)

 http://guides.lib.washington.edu/content.php?pid=96370&sid=721577

Future areas for investigation

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Conclusion

10/15/2015

University of Washington START Program Asset Building: Financial and Policy Levers

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 A silver bullet for a policy database in this realm did not exist  World Bank’s eLibrary is an excellent resource but…  Contains very large review documents  Has a high yield per inquiry, increasing “noise”  Had technical issues: 3 separate citation programs were unable to import 100%

correct records, requiring extensive manual checks

 Recommend 2 stage sampling approach  1) consult with experts to get the policy of interest  2) searching for specific policies, such as the HSAA, could capture additional sources  The typology is fairly comprehensive and overlap of sub-related issues is

generally addressed by common higher-level domains but

 There is some overlap that may be harder to describe and more apparent due to

contextual factors (e.g. nation of interest)

Lessons Learned

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Conclusion

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