Publication: Keep the Pace: How Inflation Erodes Cash Transfers and What to Do About it
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Published
2024-12-03
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Date
2024-12-03
Author(s)
Iyengar, Hrishikesh TMM
Valleriani, Giorgia
Aziz, Sheraz
Arimbi, Hana Rakhma
Miranda Nogueira, Jusaine Lis
Trujillo, María Angélica
Cheng, Calvin
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Abstract
The report on the indexation of benefits within the adaptive social protection (ASP) framework underscores the importance of linking cash transfers to inflation to maintain their adequacy amidst changing economic conditions. It analyzes 232 non-contributory cash transfer programs across 158 countries, revealing that nearly four-fifths incorporate some form of indexation, with about one-third using automatic adjustments. The study documents the evolution of indexation practices, highlighting the strengths and limitations of different types, such as discretionary versus automatic adjustments, and their fiscal and political implications. The report calls for a tailored operational agenda to refine indexation practices, including selecting appropriate benchmarks and customizing indexation to specific cash transfer designs, with the findings and case studies serving as a foundation for future innovation.
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“Gentilini, Ugo; Iyengar, Hrishikesh TMM; Valleriani, Giorgia; Aziz, Sheraz; Arimbi, Hana Rakhma; Miranda Nogueira, Jusaine Lis; Trujillo, María Angélica; Cheng, Calvin. 2024. Keep the Pace: How Inflation Erodes Cash Transfers and What to Do About it. © World Bank. http://hdl.handle.net/10986/42485 License: CC BY-NC 3.0 IGO.”
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