Finance : Center for Global Development : Research Topics

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jQuery(".toggle").html(thetxt); } </script> <table style="width:100%" cellpadding="0" cellspacing="0"> <tr> <td id="section-content" valign="top">  <div id="featured"> <img class="img-left-big" src="/web/20120107122104im_/http://cgdev.org/files/1421186_image2_finance.jpg" alt=""/> <div class="content-trimmed"><p>Financial services—savings, credit, insurance, money transfers—are vital yet intangible economic infrastructure. CGD’s work on financial services analyzes how to strengthen, deepen, and broaden financial systems in poor countries to maximize the benefits for poor households and improve development prospects. </p> <p>Financial services help people manage some of life’s great challenges: investing in education, softening the financial trauma of illness and death, attaining ownership of a safe home. On a macroeconomic scale, they channel investment and diversify risk. Building a strong and inclusive financial sector is an essential part of the development process. <br> </div> <div class="content-full" style="display:none"><p>Financial services—savings, credit, insurance, money transfers—are vital yet intangible economic infrastructure. CGD’s work on financial services analyzes how to strengthen, deepen, and broaden financial systems in poor countries to maximize the benefits for poor households and improve development prospects. </p> <p>Financial services help people manage some of life’s great challenges: investing in education, softening the financial trauma of illness and death, attaining ownership of a safe home. On a macroeconomic scale, they channel investment and diversify risk. Building a strong and inclusive financial sector is an essential part of the development process. <br>  </p> <p><strong>Examples of CGD’s work in this area: </strong></p> <ul> <li>CGD senior fellow Liliana Rojas-Suarez led a Task Force on <a href="https://web.archive.org/web/20120107122104/http://www.cgdev.org/section/topics/finance/policy_principles_for_expanding_financial_access_task_force">Access to Financial Services</a> that identified ten principles for financial-sector policymakers (national authorities, donors, private-sector participants, international financial institutions, and others) involved in the facilitation, regulation, and direct provision of financial services. </li> <li><a href="https://web.archive.org/web/20120107122104/http://www.cgdev.org/content/publications/detail/13932">The Provision of Banking Services in Latin America: Obstacles and Recommendations</a> <a href="https://web.archive.org/web/20120107122104/http://www.cgdev.org/content/publications/detail/13932"></a> by Rojas-Suarez.</li> <li><a href="https://web.archive.org/web/20120107122104/http://www.cgdev.org/content/expert/detail/2719/">David Roodman</a> and Uzma Qureshi’s <a href="https://web.archive.org/web/20120107122104/http://www.cgdev.org/content/publications/detail/10742">Microfinance as Business</a> report asks how some microfinance institutions succeed in controlling costs, raising capital, and scaling up.</li> <li>David Roodman and Jonathan Morduch’s working paper, <a href="https://web.archive.org/web/20120107122104/http://www.cgdev.org/content/publications/detail/1422302">The Impact of Microcredit on the Poor in Bangladesh: Revisiting the Evidence</a>, replicates and challenges the leading nonexperimental studies of the impacts of microcredit. </li> </ul> <p><strong>David Roodman's Open Book Blog</strong></p> <p>The <a href="https://web.archive.org/web/20120107122104/http://blogs.cgdev.org/open_book/">Open Book Blog</a> is an experiment in sharing the process of writing of a book about the history and impacts of microfinance. Roodman, a CGD research fellow, asks bottom-line questions about the benefits of microfinance and encourages readers to comment on draft chapters for a forthcoming book. He also shares useful sources that he and his readers uncover. </p></div> <div><a style="float:right" class="more-link toggle" href="javascript:;" onclick="toggleOverview();pageTracker._trackEvent('topic_page', 'read more click');">Read More</a></div> <div class="clear"></div> </div> <div class="clear"></div> <div id="tabbed-navigation"> <div class="tabs"> <span class="tab newest active" rel="newest" onmousedown="pageTracker._trackEvent('topic_page', 'tab click', 'newest');">Newest</span> <span class="tab popular" rel="popular" onmousedown="pageTracker._trackEvent('topic_page', 'tab click', 'popular');">Popular</span> <span class="tab" rel="publications" onmousedown="pageTracker._trackEvent('topic_page', 'tab click', 'publications');">Publications</span> <span class="tab" rel="experts" onmousedown="pageTracker._trackEvent('topic_page', 'tab click', 'experts');">Experts</span> <span class="tab" rel="research" onmousedown="pageTracker._trackEvent('topic_page', 'tab click', 'initiatives');">Initiatives</span>  <span class="tab" rel="multimedia" onmousedown="pageTracker._trackEvent('topic_page', 'tab click', 'multimedia');">Multimedia</span> <div class="clear"></div> </div> <div class="tab-box newest active"> <ul> <li> <div style="float:left"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1425809_image_Roodman_Due_Diligence_thumb.jpg&w=60&h=60&zc=1" alt=""/> </div> <div style="margin-left:70px"> <div class="item-title"> <a href="/web/20120107122104/http://cgdev.org/content/publications/detail/1425809">Due Diligence: An Impertinent Inquiry into Microfinance</a> <span class="item-date"> - Dec 13, 2011</span> </div> <div class="item-description"><p>Readers of David Roodman's Microfinance Open Book Blog will immediately recognize his thorough, straightforward, and trenchant analysis of whether microfinance is the boon many think it is.</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1425335_image_Ben_Leo_Testimony_7.27.11.JPG&w=60&h=60&zc=1" alt=""/> </div> <div style="margin-left:70px"> <div class="item-title"> <a href="/web/20120107122104/http://cgdev.org/content/publications/detail/1425335">Multilateral Development Banks: Concrete Benefits to the U.S. Economy and American Jobs</a> <span class="item-date"> - Jul 28, 2011</span> </div> <div class="item-description"><p>Ben Leo testified before the House Subcommittee on International Monetary Policy and Trade on July 27, 2011 about the importance of multilateral development banks to the United States and the greater world.</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1425323_image_Gorlorwulu_cover.gif&w=60&h=60&zc=1" alt=""/> </div> <div style="margin-left:70px"> <div class="item-title"> <a href="/web/20120107122104/http://cgdev.org/content/publications/detail/1425323">Constraints to Domestic Enterprise Financing in Post-Conflict Liberia - Working Paper 260</a> <span class="item-date"> - Jul 22, 2011</span> </div> <div class="item-description"><p>This paper examines the efficacy of loan programs in the development of domestic enterprises in the immediate aftermath of conflicts. The author explores whether the strategies employed by such programs are effective and if there are opportunities for improving the outcomes of similar projects in...</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1425145_image_Leo_SME_Access_cover.gif&w=60&h=60&zc=1" alt=""/> </div> <div style="margin-left:70px"> <div class="item-title"> <a href="/web/20120107122104/http://cgdev.org/content/publications/detail/1425145">New SME Financial Access Initiatives: Private Foundations’ Path to Donor Partnerships - Working Paper 254</a> <span class="item-date"> - Jun 3, 2011</span> </div> <div class="item-description"><p>This paper provides a review of the rationale for and against SME initiatives and an overview of existing targeted USG and IFI programs. The authors offer several new incremental options for private foundations to establish focused partnerships with donor agencies in their efforts to assist SMEs in...</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1425118_image_roodman_web_170.jpg&w=60&h=60&zc=1" alt=""/> </div> <div style="margin-left:70px"> <div class="item-title"> <a href="/web/20120107122104/http://cgdev.org/content/multimedia/detail/1425118"><a href="https://web.archive.org/web/20120107122104/http://blogs.cgdev.org/global_prosperity_wonkcast/2011/05/24/mohammed-yunus-forced-out-%E2%80%93whither-microcredit-david-roodman/">Mohammed Yunus Forced Out –Whither Microcredit? David Roodman</a></a> <span class="item-date"> - May 24, 2011</span> </div> <div class="item-description"><p> Mohammed Yunus has been forced by a Bangladesh court to step down as the head of the Grameen Bank, leaving the world to wonder what will become of the institution that helped inspire the microfinance revolution. On this week’s Wonkcast, we consider the rise and uncertain future of...</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1424979_image_Find_Me_the_Money.gif&w=60&h=60&zc=1" alt=""/> </div> <div style="margin-left:70px"> <div class="item-title"> <a href="/web/20120107122104/http://cgdev.org/content/publications/detail/1424979">Find Me the Money: Financing Climate and Other Global Public Goods - Working Paper 248</a> <span class="item-date"> - Apr 6, 2011</span> </div> <div class="item-description"><p>In this working paper, the authors examine four categories of existing resource-mobilization options and recommend which might best be used to finance global public goods.</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1424927_image_Vijaya_Ramachandran.jpg&w=60&h=60&zc=1" alt=""/> </div> <div style="margin-left:70px"> <div class="item-title"> <a href="/web/20120107122104/http://cgdev.org/content/multimedia/detail/1424927"><a href="https://web.archive.org/web/20120107122104/http://blogs.cgdev.org/global_prosperity_wonkcast/2011/03/21/the-untapped-potential-of-global-public-investors-vijaya-ramachandran//"> The Untapped Potential of Global Public Investors: Vijaya Ramachandran</a></a> <span class="item-date"> - Mar 21, 2011</span> </div> <div class="item-description"><p>Looking for an investor with billions? Want to know where the money is? If you’re a country with a sound financial and political record seeking money for infrastructure, you can find it in the hands of “global public investors” (GPI’s), a growing group of little-known foreign investment...</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1424890_image_liliana170.jpg&w=60&h=60&zc=1" alt=""/> </div> <div style="margin-left:70px"> <div class="item-title"> <a href="/web/20120107122104/http://cgdev.org/content/multimedia/detail/1424890"><a href="https://web.archive.org/web/20120107122104/http://blogs.cgdev.org/global_prosperity_wonkcast/2011/03/07/macroprudential-regulation-and-developing-countries-liliana-rojas-suarez/">Macroprudential Regulation and Developing Countries: Liliana Rojas-Suarez</a></a> <span class="item-date"> - Mar 7, 2011</span> </div> <div class="item-description"><p>Regulators at the Bank for International Settlements in Basel, Switzerland, are hard at work designing regulatory standards to avoid future financial meltdowns like the global financial crisis of 2008. Joining them for two months is Liliana Rojas Suarez, a CGD senior fellow and the founding...</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1424712_image_Ribadu_Show_Me_the_Money.jpg&w=60&h=60&zc=1" alt=""/> </div> <div style="margin-left:70px"> <div class="item-title"> <a href="/web/20120107122104/http://cgdev.org/content/publications/detail/1424712">Show Me the Money: Leveraging Anti–Money Laundering Tools to Fight Corruption in Nigeria</a> <span class="item-date"> - Dec 28, 2010</span> </div> <div class="item-description"><p>Nuhu Ribadu, former head of Nigeria's Economic and Financial Crimes Commissions, shows how he and his team used international money-laundering laws to fight corruption in Nigeria.</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1424638_image_roodman_web_170.jpg&w=60&h=60&zc=1" alt=""/> </div> <div style="margin-left:70px"> <div class="item-title"> <a href="/web/20120107122104/http://cgdev.org/content/multimedia/detail/1424638"><a href="https://web.archive.org/web/20120107122104/http://blogs.cgdev.org/global_prosperity_wonkcast/2010/11/30/unpacking-indias-microfinance-meltdown-david-roodman/">Unpacking India’s Microfinance Meltdown: David Roodman</a></a> <span class="item-date"> - Nov 30, 2010</span> </div> <div class="item-description"><p>A crisis is unfolding in India's microcredit sector that-- beyond its immediate effects on borrowers and lenders-- will greatly affect the future of financial services for the poor. I'm joined by David Roodman, senior fellow here at the Center for Global Development and author of the forthcoming...</p></div> </div> <div class="clear"></div> </li> <ul> </div> <div class="tab-box popular"> <ul> <li> <div style="float:left"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1422302.gif&w=60&h=60&zc=1" alt=""/> </div> <div style="margin-left:70px"> <div class="item-title"> <a href="/web/20120107122104/http://cgdev.org/content/publications/detail/1422302">The Impact of Microcredit on the Poor in Bangladesh: Revisiting the Evidence - Working Paper 174 (Revised 2011)</a> <span class="item-date"> - Jun 18, 2009</span> </div> <div class="item-description"><p>CGD fellow David Roodman and Jonathan Morduch a landmark evaluation of the impact of microcredit on poor households in Bangladesh. They replicate the study's statistical analysis and put an end to the controversy surrounding it by showing that it fails to rule out reverse causation. A positive...</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1425809_image_Roodman_Due_Diligence_thumb.jpg&w=60&h=60&zc=1" alt=""/> </div> <div style="margin-left:70px"> <div class="item-title"> <a href="/web/20120107122104/http://cgdev.org/content/publications/detail/1425809">Due Diligence: An Impertinent Inquiry into Microfinance</a> <span class="item-date"> - Dec 13, 2011</span> </div> <div class="item-description"><p>Readers of David Roodman's Microfinance Open Book Blog will immediately recognize his thorough, straightforward, and trenchant analysis of whether microfinance is the boon many think it is.</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1425323_image_Gorlorwulu_cover.gif&w=60&h=60&zc=1" alt=""/> </div> <div style="margin-left:70px"> <div class="item-title"> <a href="/web/20120107122104/http://cgdev.org/content/publications/detail/1425323">Constraints to Domestic Enterprise Financing in Post-Conflict Liberia - Working Paper 260</a> <span class="item-date"> - Jul 22, 2011</span> </div> <div class="item-description"><p>This paper examines the efficacy of loan programs in the development of domestic enterprises in the immediate aftermath of conflicts. The author explores whether the strategies employed by such programs are effective and if there are opportunities for improving the outcomes of similar projects in...</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left"> </div> <div style=""> <div class="item-title"> <a href="/web/20120107122104/http://cgdev.org/content/publications/detail/10742">Microfinance as Business - Working Paper 101<br>(Revised November 2006)</a> <span class="item-date"> - Oct 13, 2006</span> </div> <div class="item-description"><p>Microfinance is a widely celebrated strategy for helping poor people in the developing world. Leading microfinance institutions, including the Nobel Peace Prize-winning Grameen Bank, reach millions of clients. CGD research fellow David Roodman and Uzma Qureshi analyze why some microfinance...</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1424979_image_Find_Me_the_Money.gif&w=60&h=60&zc=1" alt=""/> </div> <div style="margin-left:70px"> <div class="item-title"> <a href="/web/20120107122104/http://cgdev.org/content/publications/detail/1424979">Find Me the Money: Financing Climate and Other Global Public Goods - Working Paper 248</a> <span class="item-date"> - Apr 6, 2011</span> </div> <div class="item-description"><p>In this working paper, the authors examine four categories of existing resource-mobilization options and recommend which might best be used to finance global public goods.</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1425335_image_Ben_Leo_Testimony_7.27.11.JPG&w=60&h=60&zc=1" alt=""/> </div> <div style="margin-left:70px"> <div class="item-title"> <a href="/web/20120107122104/http://cgdev.org/content/publications/detail/1425335">Multilateral Development Banks: Concrete Benefits to the U.S. Economy and American Jobs</a> <span class="item-date"> - Jul 28, 2011</span> </div> <div class="item-description"><p>Ben Leo testified before the House Subcommittee on International Monetary Policy and Trade on July 27, 2011 about the importance of multilateral development banks to the United States and the greater world.</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1422882.gif&w=60&h=60&zc=1" alt=""/> </div> <div style="margin-left:70px"> <div class="item-title"> <a href="/web/20120107122104/http://cgdev.org/content/publications/detail/1422882">Policy Principles for Expanding Financial Access</a> <span class="item-date"> - Sep 30, 2009</span> </div> <div class="item-description"><p>The CGD Task Force on Access to Financial Services proposes 10 principles for financial-sector policymakers—including national authorities, donors, private-sector participants, international financial institutions, and others—on the facilitation, regulation, and direct provision of...</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1423352.gif&w=60&h=60&zc=1" alt=""/> </div> <div style="margin-left:70px"> <div class="item-title"> <a href="/web/20120107122104/http://cgdev.org/content/publications/detail/1423352">Introduction to Microfinance for Development, Georgetown University (Syllabus)</a> <span class="item-date"> - Dec 7, 2009</span> </div> <div class="item-description"><p>This course explores the role of microfinance in economic development. It will discuss how poor people in poor countries use financial services such as credit and savings; the history and practice of delivering such services; what is known about their contribution to development; and how stories...</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left"> </div> <div style=""> <div class="item-title"> <a href="/web/20120107122104/http://cgdev.org/content/publications/detail/2772">Private Sector Involvement in Financial Crisis Resolution: Definition, Measurement, and Implementation - Working Paper 18</a> <span class="item-date"> - Dec 1, 2002</span> </div> <div class="item-description"><p>Public policy on financial crises in emerging markets has implicitly been grounded in economic theory calling for lender-of-last-resort intervention when the country is solvent, and on theory recognizing that reputational damage is the quasi-collateral enabling lending to sovereigns with no...</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1425145_image_Leo_SME_Access_cover.gif&w=60&h=60&zc=1" alt=""/> </div> <div style="margin-left:70px"> <div class="item-title"> <a href="/web/20120107122104/http://cgdev.org/content/publications/detail/1425145">New SME Financial Access Initiatives: Private Foundations’ Path to Donor Partnerships - Working Paper 254</a> <span class="item-date"> - Jun 3, 2011</span> </div> <div class="item-description"><p>This paper provides a review of the rationale for and against SME initiatives and an overview of existing targeted USG and IFI programs. The authors offer several new incremental options for private foundations to establish focused partnerships with donor agencies in their efforts to assist SMEs in...</p></div> </div> <div class="clear"></div> </li> </ul> </div> <div class="tab-box experts"> <ul><ul> <li> <div style="float:left; width:60px"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/2693_file_cline_170.jpg&w=50&h=50" alt=""/> </div> <div style="margin-left:70px"> <a href="/web/20120107122104/http://cgdev.org/content/expert/detail/2693/">William R. Cline</a>, Senior Fellow <div><p>William R. Cline is a senior fellow jointly at the Peter G. Peterson Institute for International Economics and the Center for Global Development. His research focuses on finance, capital flows, trade and development; currently he is investigating the differential impact of global warming on...</p></div> </div> <div class="clear"></div> </li> <li> <div style=""> <a href="/web/20120107122104/http://cgdev.org/content/expert/detail/2702/">Ricardo Hausmann</a>, Non-Resident Fellow <div><p>Ricardo Hausmann is Professor of the Practice of Economic Development at Harvard University's Kennedy School of Government. Previously, he served as the first Chief Economist of the Inter-American Development Bank (1994-2000), where he created the Research Department.</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left; width:60px"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/11761_file_DeanKarlanWb.jpg&w=50&h=50" alt=""/> </div> <div style="margin-left:70px"> <a href="/web/20120107122104/http://cgdev.org/content/expert/detail/11761/">Dean Karlan</a>, Non-Resident Fellow <div><p>Dean Karlan is an Assistant Professor of Economics at Yale University. Karlan is President of Innovations for Poverty Action and a research fellow of the M.I.T. Jameel Poverty Action Lab. His research focuses on microeconomic issues of poverty, specifically employing experimental methodologies to...</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left; width:60px"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/15190_file_perry_170.jpg&w=50&h=50" alt=""/> </div> <div style="margin-left:70px"> <a href="/web/20120107122104/http://cgdev.org/content/expert/detail/15190/">Guillermo Perry</a>, Non-Resident Fellow <div><p>Guillermo Perry is the former chief economist of the Latin America and Caribbean region of the World Bank. He has been the director of two of Colombia’s leading economic think-tanks, Fedesarrollo and the Center for Economic Development Studies. He is currently the Robert F. Kennedy Visiting...</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left; width:60px"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/2718_file_lrs.jpg&w=50&h=50" alt=""/> </div> <div style="margin-left:70px"> <a href="/web/20120107122104/http://cgdev.org/content/expert/detail/2718/">Liliana Rojas-Suarez</a>, Senior Fellow <div><p>Liliana Rojas-Suarez is an expert on Latin America, financial services, and the effects of global financial regulation. She leads CGD’s extensive package of analysis on the development impact of the U.S. financial crisis and has been the chair of the Latin American Shadow Financial Regulatory...</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left; width:60px"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/2719_file_roodman_web_170.jpg&w=50&h=50" alt=""/> </div> <div style="margin-left:70px"> <a href="/web/20120107122104/http://cgdev.org/content/expert/detail/2719/">David Roodman</a>, Senior Fellow <div><p>David Roodman's research focuses on microfinance, debt relief, and climate change. His book Due Diligence: An Impertinent Inquiry into Microfinance is available now.</p></div> </div> <div class="clear"></div> </li> </ul></ul> </div> <div class="tab-box publications"> <ul> <li> <div style="float:left; width:60px"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1425809_image_Roodman_Due_Diligence_thumb.jpg&w=50&h=50" alt=""/> </div> <div style="margin-left:70px"> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/1425809/">Due Diligence: An Impertinent Inquiry into Microfinance</a> <span class="item-date"> - Dec 13, 2011</span> <div class="item-description"> <p> Readers of David Roodman's Microfinance Open Book Blog will immediately recognize his thorough, straightforward, and trenchant analysis of whether microfinance is the boon many think it is. </p> </div> </div> <div class="clear"></div> </li> <li> <div style="float:left; width:60px"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1425335_image_Ben_Leo_Testimony_7.27.11.JPG&w=50&h=50" alt=""/> </div> <div style="margin-left:70px"> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/1425335/">Multilateral Development Banks: Concrete Benefits to the U.S. Economy and American Jobs</a> <span class="item-date"> - Jul 28, 2011</span> <div class="item-description"> <p> Ben Leo testified before the House Subcommittee on International Monetary Policy and Trade on July 27, 2011 about the importance of multilateral development banks to the United States and the greater world. </p> </div> </div> <div class="clear"></div> </li> <li> <div style="float:left; width:60px"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1425323_image_Gorlorwulu_cover.gif&w=50&h=50" alt=""/> </div> <div style="margin-left:70px"> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/1425323/">Constraints to Domestic Enterprise Financing in Post-Conflict Liberia - Working Paper 260</a> <span class="item-date"> - Jul 22, 2011</span> <div class="item-description"> <p> This paper examines the efficacy of loan programs in the development of domestic enterprises in the immediate aftermath of conflicts. The author explores whether the strategies employed by such programs are effective and if there are opportunities for improving the outcomes of similar projects in... </p> </div> </div> <div class="clear"></div> </li> <li> <div style="float:left; width:60px"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1425145_image_Leo_SME_Access_cover.gif&w=50&h=50" alt=""/> </div> <div style="margin-left:70px"> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/1425145/">New SME Financial Access Initiatives: Private Foundations’ Path to Donor Partnerships - Working Paper 254</a> <span class="item-date"> - Jun 3, 2011</span> <div class="item-description"> <p> This paper provides a review of the rationale for and against SME initiatives and an overview of existing targeted USG and IFI programs. The authors offer several new incremental options for private foundations to establish focused partnerships with donor agencies in their efforts to assist SMEs in... </p> </div> </div> <div class="clear"></div> </li> <li> <div style="float:left; width:60px"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1424979_image_Find_Me_the_Money.gif&w=50&h=50" alt=""/> </div> <div style="margin-left:70px"> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/1424979/">Find Me the Money: Financing Climate and Other Global Public Goods - Working Paper 248</a> <span class="item-date"> - Apr 6, 2011</span> <div class="item-description"> <p> In this working paper, the authors examine four categories of existing resource-mobilization options and recommend which might best be used to finance global public goods. </p> </div> </div> <div class="clear"></div> </li> <li> <div style="float:left; width:60px"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1424712_image_Ribadu_Show_Me_the_Money.jpg&w=50&h=50" alt=""/> </div> <div style="margin-left:70px"> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/1424712/">Show Me the Money: Leveraging Anti–Money Laundering Tools to Fight Corruption in Nigeria</a> <span class="item-date"> - Dec 28, 2010</span> <div class="item-description"> <p> Nuhu Ribadu, former head of Nigeria's Economic and Financial Crimes Commissions, shows how he and his team used international money-laundering laws to fight corruption in Nigeria. </p> </div> </div> <div class="clear"></div> </li> <li> <div style=""> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/1424613/">U.S. Interests in Nigeria’s Success with Financial Reform - Congressional Testimony</a> <span class="item-date"> - Nov 17, 2010</span> <div class="item-description"> <p> Todd Moss testifies before the House Financial Services Subcommittee on International Monetary Policy and Trade on November 16, 2010, about the global financial crisis and financial reforms in Nigeria. </p> </div> </div> <div class="clear"></div> </li> <li> <div style="float:left; width:60px"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1424340_image_leading_issues_in_global_development_finance.jpg&w=50&h=50" alt=""/> </div> <div style="margin-left:70px"> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/1424340/">Leading Issues in Global Development Finance, Georgetown University (Syllabus)</a> <span class="item-date"> - Aug 4, 2010</span> <div class="item-description"> <p> This module will examine the leading issues related to capital flows between the developed and developing worlds. It will cover the various types of official and private finance as well as the institutions and policies designed to manage and promote these flows. The first half considers... </p> </div> </div> <div class="clear"></div> </li> <li> <div style=""> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/1423751/">Financial Integration and Foreign Banks in Latin America: Do They Amplify External Financial Shocks? - Working Paper 203</a> <span class="item-date"> - Feb 8, 2010</span> <div class="item-description"> <p> This paper explores the impact of international financial integration on credit markets in Latin America. The overall effect is positive, but the foreign banks do tend to amplify the impact of foreign shocks on credit and interest rates. Important policy recommendations include ring-fencing... </p> </div> </div> <div class="clear"></div> </li> <li> <div style="float:left; width:60px"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1423352.gif&w=50&h=50" alt=""/> </div> <div style="margin-left:70px"> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/1423352/">Introduction to Microfinance for Development, Georgetown University (Syllabus)</a> <span class="item-date"> - Dec 7, 2009</span> <div class="item-description"> <p> This course explores the role of microfinance in economic development. It will discuss how poor people in poor countries use financial services such as credit and savings; the history and practice of delivering such services; what is known about their contribution to development; and how stories... </p> </div> </div> <div class="clear"></div> </li> <li> <div style="float:left; width:60px"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1422882.gif&w=50&h=50" alt=""/> </div> <div style="margin-left:70px"> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/1422882/">Policy Principles for Expanding Financial Access</a> <span class="item-date"> - Sep 30, 2009</span> <div class="item-description"> <p> The CGD Task Force on Access to Financial Services proposes 10 principles for financial-sector policymakers—including national authorities, donors, private-sector participants, international financial institutions, and others—on the facilitation, regulation, and direct provision of... </p> </div> </div> <div class="clear"></div> </li> <li> <div style="float:left; width:60px"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1422302.gif&w=50&h=50" alt=""/> </div> <div style="margin-left:70px"> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/1422302/">The Impact of Microcredit on the Poor in Bangladesh: Revisiting the Evidence - Working Paper 174 (Revised 2011)</a> <span class="item-date"> - Jun 18, 2009</span> <div class="item-description"> <p> CGD fellow David Roodman and Jonathan Morduch a landmark evaluation of the impact of microcredit on poor households in Bangladesh. They replicate the study's statistical analysis and put an end to the controversy surrounding it by showing that it fails to rule out reverse causation. A positive... </p> </div> </div> <div class="clear"></div> </li> <li> <div style=""> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/16531/">The Right Response in Latin America to Oil and Food Price Pressures: Fight Inflation Now!</a> <span class="item-date"> - Aug 15, 2008</span> <div class="item-description"> <p> CGD senior fellow Liliana Rojas-Suarez argues that the recent sharp spike in food and oil prices, above the long term upward trend, threatens Latin America’s stability and is the result of excess global liquidity and the U.S. credit mess. She says the region must fight inflation now and, going... </p> </div> </div> <div class="clear"></div> </li> <li> <div style=""> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/12327/">Group Versus Individual Liability: A Field Experiment in the Philippines - Working Paper 111, updated May 2009</a> <span class="item-date"> - Jan 29, 2007</span> <div class="item-description"> <p> Group liability--wherein individuals are both borrowers and guarantors of other client's loans--is often described as the key innovation that led to the explosion of microcredit. It is thought to create incentives for peers to screen, monitor and enforce each other's loans. But some argue that... </p> </div> </div> <div class="clear"></div> </li> <li> <div style=""> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/12328/">Credit Elasticities in Less-Developed Economies: Implications for Microcredit - Working Paper 110</a> <span class="item-date"> - Jan 29, 2007</span> <div class="item-description"> <p> Policymakers often urge microfinance institutions to increase interest rates to eliminate reliance on subsidies. This makes sense if the poor will borrow regardless of interest rates: then micro lenders increase profitability without reducing the poor's access to credit. But there is little... </p> </div> </div> <div class="clear"></div> </li> <li> <div style=""> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/12331/">Teaching Entrepreneurship: Impact of Business Training on Microfinance Clients and Institutions - Working Paper 107, updated May 2009</a> <span class="item-date"> - Jan 29, 2007</span> <div class="item-description"> <p> Can one teach basic entrepreneurship skills? A growing number of microfinance organizations are trying, in the hopes of improving the livelihood of their clients and to further their mission of poverty alleviation. In this working paper, CGD non-resident fellow Dean Karlan and his co-author... </p> </div> </div> <div class="clear"></div> </li> <li> <div style=""> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/12329/">Observing Unobservables: Identifying Information Asymmetries with a Consumer Credit Field Report - Working Paper 109</a> <span class="item-date"> - Jan 29, 2007</span> <div class="item-description"> <p> Information asymmetries--which occur when one party to a transaction has more or better information than the other party--can cause inefficiency, over-investment, or poverty traps. Unfortunately, they are difficult to identify in practice. In this working paper, CGD non-resident fellow Dean... </p> </div> </div> <div class="clear"></div> </li> <li> <div style=""> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/12332/">Female Empowerment: Impact of a Commitment Savings Product in the Philippines - Working Paper 106</a> <span class="item-date"> - Jan 29, 2007</span> <div class="item-description"> <p> Microfinance is often viewed as a tool for empowering women. However, it is not clear that increasing a woman's share of household income also improves her status within the household. In this working paper, CGD non-resident fellow Dean Karlan and his co-authors examine whether access to... </p> </div> </div> <div class="clear"></div> </li> <li> <div style=""> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/12330/">Expanding Credit Access: Using Randomized Supply Decisions to Estimate the Impacts - Working Paper 108</a> <span class="item-date"> - Jan 29, 2007</span> <div class="item-description"> <p> Microfinance is generally credited with helping to alleviate poverty and improve the lives of the poor. But as microfinance institutions move beyond entrepreneurial credit to offering consumer loans, many practitioners and policymakers are skeptical about "unproductive" lending. In this working... </p> </div> </div> <div class="clear"></div> </li> <li> <div style=""> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/10742/">Microfinance as Business - Working Paper 101<br>(Revised November 2006)</a> <span class="item-date"> - Oct 13, 2006</span> <div class="item-description"> <p> Microfinance is a widely celebrated strategy for helping poor people in the developing world. Leading microfinance institutions, including the Nobel Peace Prize-winning Grameen Bank, reach millions of clients. CGD research fellow David Roodman and Uzma Qureshi analyze why some microfinance... </p> </div> </div> <div class="clear"></div> </li> <li> <div style=""> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/6804/">The U.S. External Deficit and the Developing Countries--Working Paper 86</a> <span class="item-date"> - Mar 20, 2006</span> <div class="item-description"> <p> With foreign investment in the U.S. increasingly in the spotlight, this working paper by William Cline explores the U.S. external deficit and the fact that the U.S. relies on foreign lending to finance its trade deficit. Cline emphasizes the dangers of a hard landing for the U.S., and why this... </p> </div> </div> <div class="clear"></div> </li> <li> <div style=""> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/2729/">Financial Regulations in Developing Countries: Can they Effectively Limit the Impact of Capital Account Volatility? - Working Paper 59</a> <span class="item-date"> - May 20, 2005</span> <div class="item-description"> <p> After more than a decade of financial sector liberalization, both of domestic markets and of international financial transactions (capital account liberalization), policymakers in many developing countries remain concerned about the effects that large and highly volatile capital flows have on their... </p> </div> </div> <div class="clear"></div> </li> <li> <div style=""> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/2772/">Private Sector Involvement in Financial Crisis Resolution: Definition, Measurement, and Implementation - Working Paper 18</a> <span class="item-date"> - Dec 1, 2002</span> <div class="item-description"> <p> Public policy on financial crises in emerging markets has implicitly been grounded in economic theory calling for lender-of-last-resort intervention when the country is solvent, and on theory recognizing that reputational damage is the quasi-collateral enabling lending to sovereigns with no... </p> </div> </div> <div class="clear"></div> </li> <li> <div style=""> <a style="font-weight: bold;" href="/web/20120107122104/http://cgdev.org/content/publications/detail/2782/">Financial Crises and Poverty in Emerging Market Economies - Working Paper 8</a> <span class="item-date"> - Jun 1, 2002</span> <div class="item-description"> <p> This study examines the impact of the principal financial crises in emerging markets in recent years on the incidence of poverty in the countries in question. The growth impact is first identified by comparing average per capita growth in the two years prior to the crisis to that in the crisis year... </p> </div> </div> <div class="clear"></div> </li> </ul> </div> <div class="tab-box research"> There are no initiatives related to this topic. </div> <div class="tab-box opinions"> There are no opinions related to this topic. </div> <div class="tab-box multimedia"> <ul> <li> <div style="float:left; width:60px"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1425118_image_roodman_web_170.jpg&w=50&h=50" alt=""/> </div> <div style="margin-left:70px"> <a href="/web/20120107122104/http://cgdev.org/content/multimedia/detail/1425118/"><a href="https://web.archive.org/web/20120107122104/http://blogs.cgdev.org/global_prosperity_wonkcast/2011/05/24/mohammed-yunus-forced-out-%E2%80%93whither-microcredit-david-roodman/">Mohammed Yunus Forced Out –Whither Microcredit? David Roodman</a></a> <span class="item-date">- May 24, 2011</span> <div class="item-description"><p> Mohammed Yunus has been forced by a Bangladesh court to step down as the head of the Grameen Bank, leaving the world to wonder what will become of the institution that helped inspire the microfinance revolution. On this week’s Wonkcast, we consider the rise and uncertain future of...</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left; width:60px"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1424927_image_Vijaya_Ramachandran.jpg&w=50&h=50" alt=""/> </div> <div style="margin-left:70px"> <a href="/web/20120107122104/http://cgdev.org/content/multimedia/detail/1424927/"><a href="https://web.archive.org/web/20120107122104/http://blogs.cgdev.org/global_prosperity_wonkcast/2011/03/21/the-untapped-potential-of-global-public-investors-vijaya-ramachandran//"> The Untapped Potential of Global Public Investors: Vijaya Ramachandran</a></a> <span class="item-date">- Mar 21, 2011</span> <div class="item-description"><p>Looking for an investor with billions? Want to know where the money is? If you’re a country with a sound financial and political record seeking money for infrastructure, you can find it in the hands of “global public investors” (GPI’s), a growing group of little-known foreign investment...</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left; width:60px"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1424890_image_liliana170.jpg&w=50&h=50" alt=""/> </div> <div style="margin-left:70px"> <a href="/web/20120107122104/http://cgdev.org/content/multimedia/detail/1424890/"><a href="https://web.archive.org/web/20120107122104/http://blogs.cgdev.org/global_prosperity_wonkcast/2011/03/07/macroprudential-regulation-and-developing-countries-liliana-rojas-suarez/">Macroprudential Regulation and Developing Countries: Liliana Rojas-Suarez</a></a> <span class="item-date">- Mar 7, 2011</span> <div class="item-description"><p>Regulators at the Bank for International Settlements in Basel, Switzerland, are hard at work designing regulatory standards to avoid future financial meltdowns like the global financial crisis of 2008. Joining them for two months is Liliana Rojas Suarez, a CGD senior fellow and the founding...</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left; width:60px"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1424638_image_roodman_web_170.jpg&w=50&h=50" alt=""/> </div> <div style="margin-left:70px"> <a href="/web/20120107122104/http://cgdev.org/content/multimedia/detail/1424638/"><a href="https://web.archive.org/web/20120107122104/http://blogs.cgdev.org/global_prosperity_wonkcast/2010/11/30/unpacking-indias-microfinance-meltdown-david-roodman/">Unpacking India’s Microfinance Meltdown: David Roodman</a></a> <span class="item-date">- Nov 30, 2010</span> <div class="item-description"><p>A crisis is unfolding in India's microcredit sector that-- beyond its immediate effects on borrowers and lenders-- will greatly affect the future of financial services for the poor. I'm joined by David Roodman, senior fellow here at the Center for Global Development and author of the forthcoming...</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left; width:60px"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1424260_image_SJS_LRS_200x200.JPG&w=50&h=50" alt=""/> </div> <div style="margin-left:70px"> <a href="/web/20120107122104/http://cgdev.org/content/multimedia/detail/1424260/"><a href="https://web.archive.org/web/20120107122104/http://blogs.cgdev.org/global_prosperity_wonkcast/2010/06/28/how-the-g8g20-fared-on-development-liliana-rojas-suarez-sarah-jane-staats/">How the G-8 and G-20 Fared on Development: Liliana Rojas-Suarez & Sarah Jane Staats</a></a> <span class="item-date">- Jun 28, 2010</span> <div class="item-description"><p>Leaders of the world’s largest and richest countries met over the weekend in Ontario, Canada. What did they accomplish? This week on the Wonkcast, I’m joined by two guests: CGD Senior Fellow Liliana Rojas-Suarez and Director of Policy Outreach Sarah Jane Staats. We examine the statements...</p></div> </div> <div class="clear"></div> </li> <li> <div style="float:left; width:60px"> <img src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/1423902_image_roodman_web_170.jpg&w=50&h=50" alt=""/> </div> <div style="margin-left:70px"> <a href="/web/20120107122104/http://cgdev.org/content/multimedia/detail/1423902/"><a href="https://web.archive.org/web/20120107122104/http://blogs.cgdev.org/global_prosperity_wonkcast/2010/02/23/david-roodman-on-microfinance-and-a-year-of-blogging/">David Roodman on Microfinance and a Year of Blogging</a></a> <span class="item-date">- Feb 23, 2010</span> <div class="item-description"><p>My guest on this week’s show is David Roodman, a research fellow here at CGD who has spent the past year writing a book on microfinance. He has shared this experience online through his open book blog, posting chapter drafts, analyzing ongoing research in the field, and soliciting comments and...</p></div> </div> <div class="clear"></div> </li> </ul> </div> <div class="clear"></div> </div>  </td> <td style="width:20px"></td> <td id="section-sidebar" valign="top">  <div id="sidebarNav"> <h3>Finance</h3> <div class="boxText"> <ul> </li> <li><a href="/web/20120107122104/http://cgdev.org/section/topics/finance/policy_principles_for_expanding_financial_access_task_force" title="Task Force on Access to Financial Services">Task Force on Access to Financial Services</a> </li> <li><a href="/web/20120107122104/http://cgdev.org/section/topics/finance/country_case_studies" title="Country Case Studies">Country Case Studies</a> </li> <li><a href="/web/20120107122104/http://cgdev.org/section/topics/finance/microfinance" title="Microfinance">Microfinance</a> </ul> </li> </ul> </div> </div> <h3> <div style="float:right"> <a href="https://web.archive.org/web/20120107122104/http://feeds.feedburner.com/cgdev/globaldevelopment/tag/finance"><img src="/web/20120107122104im_/http://cgdev.org/layout/icon-rss-tiny.png" alt="RSS"/></a> </div> Recent Blog Posts <div class="clear"></div> </h3> <div class="recent-blog-posts"><ul> <li> <a href="https://web.archive.org/web/20120107122104/http://blogs.cgdev.org/globaldevelopment/2010/11/world-food-program-finance-innovation-could-cut-hunger.php">World Food Program Finance Innovation Could Cut Hunger</a> <span class="blog-date">- Nov 4</span> </li> <li> <a href="https://web.archive.org/web/20120107122104/http://blogs.cgdev.org/globaldevelopment/2010/03/what%E2%80%99s-new-in-innovative-finance.php">Five Winning Ideas in Finance and Development Marketplace</a> <span class="blog-date">- Mar 10</span> </li> <li> <a href="https://web.archive.org/web/20120107122104/http://blogs.cgdev.org/globaldevelopment/2009/12/banks-raise-risky-holdings-under-the-eyes-of-supervisors.php">Banks Raise Risky Holdings under the Eyes of Supervisors</a> <span class="blog-date">- Dec 1</span> </li> <li> <a href="https://web.archive.org/web/20120107122104/http://blogs.cgdev.org/globaldevelopment/2009/09/just-in-time-new-cgd-task-force-report-on-principles-for-expanding-financial-access.php">Just in Time: New CGD Task Force Report on Principles for Expanding Financial Access</a> <span class="blog-date">- Sep 30</span> </li> </ul></div> <div style="float:right"><a href="https://web.archive.org/web/20120107122104/http://blogs.cgdev.org/globaldevelopment/tag/finance" class="more-link">More</a></div> <div class="clear"></div> <h3>Experts</h3> <div class="listitem"> <img style="float:left; padding-right:10px" src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/2719_file_roodman_web_170.jpg&w=50&h=50&zc=1" alt="No photo available"/> <div style="padding-right:10px"> <div><a href="/web/20120107122104/http://cgdev.org/content/expert/detail/2719">David Roodman</a></div> <div>Senior Fellow</div> <div class="clear"></div> </div> </div> <div class="clear"></div> <div class="listitem"> <img style="float:left; padding-right:10px" src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/2718_file_lrs.jpg&w=50&h=50&zc=1" alt="No photo available"/> <div style="padding-right:10px"> <div><a href="/web/20120107122104/http://cgdev.org/content/expert/detail/2718">Liliana Rojas-Suarez</a></div> <div>Senior Fellow</div> <div class="clear"></div> </div> </div> <div class="clear"></div> <div class="listitem"> <img style="float:left; padding-right:10px" src="/web/20120107122104im_/http://cgdev.org/layout/timthumb.php?src=/files/2693_file_cline_170.jpg&w=50&h=50&zc=1" alt="No photo available"/> <div style="padding-right:10px"> <div><a href="/web/20120107122104/http://cgdev.org/content/expert/detail/2693">William R. 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