This paper analyzes income related inequality in financial inclusion in India using a representative household level survey data, linked to State-level factors. It shows that (a) the extent of financial exclusion is quite severe among households across all income groups, (b) income related...

The objective of this paper is to study the interactions between economic liberalisation, political liberalisation and financial development in African countries. More specifically, we seek to establish the impact of economic, political and institutional openness on financial deepening. The...

We study optimal enforcement in credit markets in which the only threat facing a defaulting borrower is restricted access to financial markets. We solve for the optimal level of exclusion, and link it to observed institutional arrangements. Regulation in this environment must accomplish two...

English Abstract: The author proposes a new type of asset-backed security, called Exchange Traded Pieced Loan (ETPL), designed to address a variety of major issues for savers, lenders, borrowers, authorities and other stakeholders in China's markets for investment and credit. An ETPL's...

While the African Continental Free Trade Area (AfCFTA) provides opportunities for regional financial sector development, it also poses a real test for the continent’s financial system. The ability of Africa’s financial sector to perform the crucial function of facilitating economic growth...

We investigate the role of cosigners as collateral using data from a South Indian financial institution. Using an exogenous change in the cosigner requirement, we establish a negative causal effect of cosigners on defaults: an increase in the number of cosigners reduces defaults all these equal....