Beyond Doing Business, this controversy has implications for other databases. In the
mid- to late 2000s, when I was part of a group of World Bank researchers starting data collection on financial inclusion, we discussed whether we should aim for a country ranking. Back then, I argued strongly against it, for several reasons (some of the following
is discussed in more detail in this paper). One, policy makers should care about efficient and sustainable financial inclusion,
not just a number. Two, the Goodhart critique also applies to the Global Findex headline indicator of the share of adults with a financial account. It is relatively “easy” to open an account for
everyone in an economy through a state-owned bank; this does not imply that these are accounts are being used and that account holders are thus financially included in a meaningful way. While the Global Findex has wisely decided not to rank countries,
its headline indicator is often seen as critical policy target in many developing countries. The underlying report, however, provides a balanced discussion, drawing on many different indicators collected. Further, the Global Findex has developed over
its three rounds, with the focus expanding from bank accounts to mobile money accounts and from account ownership to use.