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On Fintech and Financial Inclusion
Philippon, Thomas - 2020
The cost of financial intermediation has declined in recent years thanks to technological progress and increased competition. I document this fact and I analyze two features of new financial technologies that have stirred controversy: returns to scale, and the use of big data and machine...
Persistent link: https://www.econbiz.de/10012831538
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Research and Impacts of Digital Financial Services
Karlan, Dean S. - 2018
A growing body of rigorous research shows that financial services innovations can have important positive impacts on wellbeing, but also that many do not. We first describe the latest evidence on what works in financial inclusion. Second, we summarize research on key financial market failures...
Persistent link: https://www.econbiz.de/10012935529
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Has the U.S. Finance Industry Become Less Efficient? on the Theory and Measurement of Financial Intermediation
Philippon, Thomas - 2014
I provide a quantitative interpretation of financial intermediation in the U.S. over the past 130 years. Measuring separately the cost of intermediation and the production of financial services, I find that: (i) the quantity of intermediation varies a lot over time; (ii) intermediation is...
Persistent link: https://www.econbiz.de/10013066115
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Risk Management in Financial Institutions
Rampini, Adriano A. - 2019
We study risk management in financial institutions using data on hedging of interest rate and foreign exchange risk. We find strong evidence that institutions with higher net worth hedge more, controlling for risk exposures, both across institutions and within institutions over time. For...
Persistent link: https://www.econbiz.de/10012889497
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The Fintech Opportunity
Philippon, Thomas - 2016
This paper assesses the potential impact of FinTech on the finance industry, focusing on financial stability and access to services. I document first that financial services remain surprisingly expensive, which explains the emergence of new entrants. I then argue that the current regulatory...
Persistent link: https://www.econbiz.de/10012985592
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Banking and Insurance
Haubrich, Joseph G.; King, Robert G. - 2021
This paper studies the economic role of financial institutions in economies where agents' incomes are subject to privately observable, idiosyncratic random events. The information structure precludes conventional insurance arrangements. However, a financial institution -- perhaps best viewed as...
Persistent link: https://www.econbiz.de/10013249178
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Missing Unmarried Women
Anderson, Siwan - 2015
. India has the largest proportion of missing adult women who are without a husband, followed by the countries in East Africa …
Persistent link: https://www.econbiz.de/10013016643
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The Miracle of Microfinance? Evidence from a Randomized Evaluation
Duflo, Esther - 2013
-based lending product in a new market. In 2005, half of 104 slums in Hyderabad, India were randomly selected for opening of a branch … of a particular microfinance institution (Spandana) while the remainder were not, although other MFIs were free to enter …. We found no changes in any of the development outcomes that are often believed to be affected by microfinance, including …
Persistent link: https://www.econbiz.de/10013082170
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Group Lending with Heterogeneous Types
Gan, Li - 2013
Group lending has been widely adopted in the past thirty years by many microfinance institutions as a means to mitigate … estimate the model using a rich dataset from a group lending program in India. The estimation results support our model …
Persistent link: https://www.econbiz.de/10013082793
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Building Social Capital Through Microfinance
Feigenberg, Benjamin - 2014
of microfinance. Random variation in the frequency of mandatory meetings across first-time borrower groups generates …
Persistent link: https://www.econbiz.de/10013069841