On average, 8 in 10 people in the developing world own a mobile phone, and the number is steadily rising. Even among the poorest fifth of the population, nearly 70% own a mobile phone. The lowest mobile penetration rate in sub-Saharan Africa is 73%, in many countries, mobile network coverage is universal or near-universal.
Still, internet adoption lags behind considerably: only 31% of the population in developing countries had access in 2014, compared to 80% in high income countries.
Let’s face it; most people prefer predictability and stability in both their personal and professional lives. So, people typically avoid situations that upset the order of things, threaten their self-interests, increase stress, or involve risks. When faced with a change to the status quo, people usually resist initially. The resistance continues and, in some cases […]
When electricity was first popularized at the beginning of the 20th century, there was a huge wave of factories that replaced their steam engines with electrical engines in an effort to increase productivity and modernize operations. However, the initial productivity gains from the electrification were barely noticeable – a phenomenon known in the economics literature as the […]
The size and rapid growth of shadow banking has been one of the most talked-about issues since the 2007 – 2008 global financial crisis. According to the Financial Stability Board, the shadow banking sector grew from $27 trillion in 2002 to about $75 trillion in 2015. The FSB said the sector – which encompasses all […]