ASSET BUILDING POLICY AND FINANCIAL LEVERS

Transcription

1 10/15/2015 ASSET BUILDING POLICY AND FINANCIAL LEVERS Produced by: Dietrich C, Muir J, Kohler P

2 Agenda Meeting Agenda Project Objectives and Deliverables Timeline Overview Sub-related Issues of Interest Methods Results Future Areas for Investigation Lessons Learned 10/15/2015 2

3 Project Objectives and Deliverables Asset Building Work Order to the UW START Team OBJECTIVES 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 DELIVERABLES 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) 10/15/2015 3

4 Timeline Timeline Confirm Work Plan Phase 1: Polish Typology Fill in and organize list provided with: Expert input Literature scan = Check-In Point Phase 2: Literature Review Case study literature review Phase 3: Short paper Policy brief for India, Ethiopia, Nigeria, and Tanzania 10/15/2015 4

5 Phase I: Typology High Level Typology Financing to provide and support assets Financing and policies to mitigate shocks Financing and policies to support incomes Policies on the broader environment Social norms on women's property ownership and use Market/marketin g solutions Policies and processes to protect property rights and property transfer Asset Building Financing and policies to support asset-building loans 10/15/2015 5

6 Asset Type and Policy Existence Two-by-two Prop rights/transfer Social norms F to provide/suppo rt F/P assets mitigate shocks Theory F/P to support incomes P on broader environment Market/Marketing F/P to support loans Progressive Tax Increase Ag Productivity Address Constraints HH Decision-making Financial/Physical Valuation of Assets Better Paid Employment Leasing/Renting Insurance HoH SMEs Tailoring Assets Community Goods De facto Inheritance Access Registration House Titling Transfer of Assets Migration & Remittances Reducing Liabilities Identification Supporting Women s Groups Govt Mobile Pay Safety Nets Inheritance Divorce Law Marital Property Regimes Subsidies & Tax Credits Unpaid Labor Pensions/Retirement Access to Employment Eliminating Dowry Child Marriage Practice Human/Social 10/15/2015 6

7 Asset Type and Policy Existence Two-by-two Prop rights/transfer Social norms F to provide/suppo P rt on assets broader environment Progressive Tax Financial/Physical Community Goods De facto Inheritance Access Govt Mobile Pay Inheritance Divorce Law Marital Property Regimes Subsidies & Tax Credits Registration* House Titling HH Decision-making Identification HoH* Child Marriage* Theory Practice Human/Social 10/15/2015 7

8 Asset Type and Policy Existence Two-by-two Prop rights/transfer Social norms F to provide/suppo P rt on assets broader environment Progressive Tax Financial/Physical Community Goods De facto Inheritance Access Govt Mobile Pay Inheritance Divorce Law Marital Property Regimes Subsidies & Tax Credits Registration* House Titling HH Decision-making Identification HoH* Child Marriage* Theory Practice Human/Social 10/15/2015 8

9 Asset Type and Policy Existence Two-by-two Prop rights/transfer Social norms F to provide/suppo P rt on assets broader environment Progressive Tax Financial/Physical Community Goods De facto Inheritance Access Govt Mobile Pay Inheritance Divorce Law Marital Property Regimes Subsidies & Tax Credits Registration* House Titling HH Decision-making Identification HoH* Child Marriage* Theory Practice Human/Social 10/15/2015 9

10 Methodology Literature Review Timeframe: * Sources PAIS International World Bank elibrary Web of Science Sociological Abstracts EconLit 10/15/

11 Methodology Search Structure Terms Sub-related topic of interest Specific Priority AND (asset OR property OR savings) Assets of interest AND (women OR gender) Population AND (India) Country 10/15/

12 Methodology Literature Review Exclusions (n=956) Title Review All Hits (n=1136) 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 58 Marital Property Regimes 48 Subsidies and Tax Credits 74 Head of Household* 3 Marital Property Regimes* 1 Inheritance Regimes (female) 7 Subsidies and Tax Credits 3 10/15/

13 Methodology Inclusion Criteria 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 10/15/

14 Results: Deliverable Phase II: Deliverable Handout 14 studies: variety of study types, data, and analyses Main highlights and discussion are on handout MS Excel spreadsheet contains additional information 10/15/

15 Results Marital Property Regimes 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 10/15/

16 Results Inheritance Regimes 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 10/15/

17 Results Inheritance Regimes (continued) 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 10/15/

18 Results Head of Household 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 10/15/

19 Results Head of Household (continued) 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 10/15/

20 Results Subsidies and Tax Credits 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 10/15/

21 Results Subsidies and Tax Credits (continued) 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 10/15/

22 Deliverable: Summary Phase II: Summary 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 10/15/

23 Conclusion Future areas for investigation 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 ICT (IEEE Xplore and INSPEC) 10/15/

24 Conclusion Lessons Learned 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) 10/15/