May 31, 2018

To achieve economic stability, better innovation is needed

Written by Sara Jerving

This post originally appeared on Devex. Reposted with permission.

NAIROBI — Economic stability and the Sustainable Development Goals are inexorably linked, but discussion on how to pursue economic stability is often absent from the global development dialogue. The 2008 global financial meltdown, climate change, technological changes, as well as shifting labor and employment trends have left huge swaths of workers and small businesses without the protections and security they might have had previously.

Innovation in technology, finance, and policy, are critical in giving countries coping mechanisms to confronting the “volatile and erratic conditions, asymmetrical information, and a lack of protection” that can leave people economically vulnerable, according to “The Atlas of Innovation for Economic Stability.”

Released this week by FHI 360, with support from The Rockefeller Foundation, the report focuses on 63 examples of innovations aimed at promoting economic stability with an emphasis on the poor and vulnerable. Most of these innovations were privately-provided and enabled by mobile technology.

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