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  • 1
    Language: English
    Pages: Online-Ressource (61 p)
    Edition: 2012 World Bank eLibrary
    Parallel Title: Allen, Franklin The Foundations of Financial Inclusion
    Abstract: Financial inclusion-defined here as the use of formal accounts-can bring many welfare benefits to individuals. Yet we know very little about the factors underpinning financial inclusion across individuals and countries. Using data for 123 countries and over 124,000 individuals, this paper tries to understand the individual and country characteristics associated with the use of formal accounts and what policies are effective among those most likely to be excluded: the poor and rural residents. The authors find that greater ownership and use of accounts is associated with a better enabling environment for accessing financial services, such as lower account costs and greater proximity to financial intermediaries. Policies targeted to promote inclusion-such as requiring banks to offer basic or low-fee accounts, exempting some depositors from onerous documentation requirements, allowing correspondent banking, and using bank accounts to make government payments-are especially effective among those most likely to be excluded. Finally, the authors study the factors associated with perceived barriers to account ownership among those who are financially excluded and find that these individuals report lower barriers in countries with lower costs of accounts and greater penetration of financial service providers. Overall, the results suggest that policies to reduce barriers to financial inclusion may expand the pool of eligible account users and encourage existing account holders to use their accounts to save and with greater frequency
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 2
    Language: English
    Pages: Online-Ressource (62 p)
    Edition: 2013 World Bank eLibrary
    Parallel Title: Allen, Franklin Resolving the African Financial Development Gap
    Abstract: With extensive country and firm-level data sets, this paper first documents that the financial sectors of most Sub-Saharan African countries remain significantly underdeveloped by the standards of other developing countries. The paper also finds that population density appears to be considerably more important for banking sector development in Africa than elsewhere. To better understand how countries can overcome the high costs of developing viable banking sectors outside large metropolitan areas, the analysis focuses on Kenya, which has made significant strides in financial inclusion and development in recent years. The paper finds a positive and significant impact of Equity Bank, a leading private commercial bank, on financial access, especially for underprivileged households. Equity Bank's business model-providing financial services to population segments typically ignored by traditional commercial banks and generating sustainable profits in the process-can be a potential solution to the financial access problem that has hindered the development of inclusive financial sectors in many other African countries
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 3
    Language: English
    Pages: Online-Ressource (37 p)
    Edition: 2014 World Bank eLibrary
    Parallel Title: Allen, Franklin The African Financial Development and Financial Inclusion Gaps
    Abstract: This paper investigates the African financial development and financial inclusion gaps relative to other peer developing countries. The paper uses a set of variables related to financial development and inclusion. It first estimates the gaps between African countries and other developing countries with similar degrees of economic development. Then, it explores the determinants of financial development and inclusion. The analysis finds that population density is considerably more important for financial development and inclusion in Africa than elsewhere. Finally, the paper shows evidence that a recent innovation in financial services, mobile banking, has helped to overcome infrastructural problems and improve financial access
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 4
    Language: English
    Pages: Online-Ressource (39 p)
    Edition: 2013 World Bank eLibrary
    Parallel Title: Allen, Franklin Improving Access to Banking
    Abstract: Using household surveys and bank penetration data at the district-level in 2006 and 2009, this paper examines the impact of Equity Bank-a leading private commercial bank focusing on microfinance-on access to banking in Kenya. Unlike other commercial banks in Kenya, Equity Bank pursues distinct branching strategies that target underserved areas and less-privileged households. Equity Bank presence has a positive and significant impact on households' use of bank accounts and bank credit, especially for Kenyans with low income, no salaried job, and less education and those who do not own their own home. The findings are robust to using the district-level proportion of people speaking a minority language as an instrument for Equity Bank presence. It appears that Equity Bank's business model-providing financial services to population segments typically ignored by traditional commercial banks and generating sustainable profits in the process-can be a solution to the financial access problem that has hindered the development of inclusive financial sectors in many African countries
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 5
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (53 pages)
    Parallel Title: Erscheint auch als Allen, Franklin Reducing Carbon using Regulatory and Financial Market Tools
    Keywords: Capital Markets and Capital Flows ; Carbon Emissions ; Carbon Policy and Trading ; Carbon Pricing ; Carbon Tax ; Climate Change Mitigation and Green House Gases ; Climate Shocks and Co2 ; Environmental Governance ; Finance and Financial Sector Development ; Global Carbon Emissions ; Sustainability-Linked DEBT ; Voter Welfare
    Abstract: This paper studies the conditions under which debt securities that make the cost of debt contingent on the issuer's carbon emissions, similar to sustainability-linked loans and bonds, can be equivalent to a carbon tax. The paper proposes a model in which standard and environmentally-oriented agents can adopt polluting and nonpolluting technologies, with the latter being less profitable than the former. A carbon tax can correct the laissez-faire economy in which the polluting technology is adopted by standard agents, but requires sufficient political support. Carbon-contingent securities provide an alternative price incentive for standard agents to adopt the nonpolluting technology, but require sufficient funds to fully substitute the regulatory tool. Absent political support for the tax, carbon-contingent securities can only improve welfare, but the same is not true when some support for a carbon tax exists. Understanding the conditions under which the regulatory and capital market tools are substitutes or complements within one economy is an important steppingstone in thinking about carbon pricing globally. It sheds light, for instance, on how developed economies can deploy finance to curb carbon emissions in developing economies where support for a carbon tax does not exist
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  • 6
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 3975
    Parallel Title: Available in another form Financing firms in India
    Keywords: Business enterprises Finance ; Business enterprises Finance
    Abstract: "The authors examine the legal and business environments, financing channels, and governance mechanisms of various types of firms in India and compare them to those from other countries. Despite its English commonlaw origin, strong legal protection provided by the law, and a democratic government, corruption within India's legal system and government significantly weakens investor protection in practice. External financing of firms has been dominated by nonmarket sources of financing, while the characteristics of listed firms are similar to those from countries with weak investor protection. The evidence, including results based on a survey of small and medium-scale private firms, shows that alternative financing channels provide the most important source of funds. The authors also find that informal governance mechanisms, such as those based on reputation, trust, and relationships are more important than formal mechanisms (such as courts) in resolving disputes, overcoming corruption, and supporting growth. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 8/25/2006 , Also available in print.
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 7
    Online Resource
    Online Resource
    Upper Saddle River, NJ : FTPress Delivers
    ISBN: 9780133115260 , 0133115267
    Language: English
    Pages: 1 online resource (2 v. in 1) , ill.
    Keywords: Finance ; Capital market ; Housing ; Finance ; Global Financial Crisis, 2008-2009 ; Electronic books ; Electronic books ; local
    Abstract: Sustainable, responsible financial innovation: lessons from the crisis, and new paths to global prosperity After the global financial crisis, responsible financial innovation is more crucial than ever. However, financial innovation will only succeed if it reflects the true lessons of the past decade. In this collection, three leading global finance researchers share those lessons, offering crucial insights for market participants, policymakers, and other stakeholders. Drawing on their pioneering work, they illuminate new opportunities for sustainable innovation in finance that can help restore housing markets and the overall global economy, while avoiding the failures of predecessors. In Financing the Future , Franklin Allen and Glenn Yago carefully discuss the current role of financial innovation in capitalizing businesses, industries, breakthrough technologies, housing solutions, medical treatments, and environmental projects. Allen and Yago explain how sophisticated capital structures can enable companies and individuals to raise funding in larger amounts for longer terms at lower cost, accomplishing tasks that would otherwise be impossible -- and offer a full chapter of essential lessons for using financial innovation to add value, manage risk, and improve the stability of the global economy. Next, in Fixing the Housing Market , Allen, Yago, and James R. Barth explain how responsible financial innovation can "reboot" damaged housing markets, improve their efficiency, and make housing more accessible to millions. The authors walk through the history of housing finance, evaluate housing finance systems in mature economies during and after the crisis, highlight benefits and risks associated with each leading mortgage funding structure and product, and assess current housing finance structures in BRIC economies. Building on these comparisons, they show how to create a more stable and sustainable financing system for housing: one that provides better shelter for more people, helps the industry recover, and creates thousands of new jobs. From world-renowned leaders and experts Franklin Allen, Glenn Yago , and James R. Barth
    Note: A compilation of two FT Press/Pearson titles. - Includes bibliographical references and indexes. - Description based on online resource; title from PDF title page (Safari, viewed Sept. 26, 2012)
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  • 8
    Online Resource
    Online Resource
    Upper Saddle River, N.J. : Wharton School Pub.
    ISBN: 9780137083329 , 0137083327
    Language: English
    Pages: 1 online resource ( p.) , ill.
    Parallel Title: Erscheint auch als
    Keywords: Finance ; Capital market ; Electronic books ; local
    Abstract: "Allen and Yago demonstrate clearly the importance of the interaction of theory and experience in explaining the evolution of financial innovations." Myron S. Scholes, Nobel Laureate in Economics, 1997, and Frank E. Buck Professor of Finance, Emeritus, Graduate School of Business, Stanford University "Despite its role in the recent economic crisis, financial innovation, wisely used, can play a crucial role in solving some of the world's most pressing problems, particularly by delivering sustainable growth and economic development. Allen and Yago's compelling, contrarian analysis punctures the current gloom about finance, and shows how its creativity can make a huge, positive difference." Matthew Bishop, New York Bureau Chief of The Economist and co-author of Philanthrocapitalism and The Road from Ruin: How to Revive Capitalism and Put America Back on Top "This book provides a clear and concise history of financial innovation as an engine for growth in various fields--an often ignored or misunderstood topic. From its role to help finance new industries and technologies to upcoming advances in environmental and health areas, it will prove an important reference to those of us who are interested in how ingenuity in capital markets can help advance social goals. A must-read in these times." Richard L. Sandor, Chairman and Founder, Chicago Climate Exchange; Executive Chairman, Climate Exchange plc "The right book at the right time. Allen and Yago colorfully relate the history of financial innovation down through the ages. With facts and analyses, they restore the concept of financial innovation to its rightful place: a medium by which long-standing problems of social, economic, and environment have been addressed, sometimes solved." Lewis S. Ranieri, Ranieri Partners LLC "From housing to microfinance to drug development, Allen and Yago explore the important role financial innovation plays around the world. The authors prove in plain English the vital role creative finance played in building America and why stifling innovation poses a risk to our financial future." Brian Sullivan, Fox Business Financial innovation can drive social, economic, and environmental change, transforming ideas into new technologies, industries, and jobs. But when it is misunderstood or mismanaged, the consequences can be severe. In this practical, accessible book, two leading experts explain how sophisticated capital structures can enable companies and individuals to raise ...
    Note: Description based on print version record. - Includes index
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  • 9
    Online Resource
    Online Resource
    Upper Saddle River, N.J. : FTPress Delivers
    ISBN: 9780132173285 , 013217328X
    Language: English
    Pages: 1 online resource ([10] p.)
    Keywords: Business enterprises ; Finance ; Corporations ; Finance ; Electronic books ; local
    Abstract: "This Element is an excerpt from Financing the Future: Market-Based Innovations for Growth (ISBN:9780137011278) by Franklin Allen and Glenn Yago. Refocusing on the real value of financial innovation: helping companies of all sizes create jobs and build prosperity"--Resource description page.
    Note: Description based on resource description page (viewed July 30, 2010). - "An e-burst of inspiration from the best books"--Cover. - Includes bibliographical references
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  • 10
    Online Resource
    Online Resource
    Upper Saddle River, N.J. : FTPress Delivers
    ISBN: 9780132478885 , 0132478889
    Language: English
    Pages: 1 online resource ([11] p.) , ill.
    Keywords: Housing ; United States ; Finance ; Housing ; United States ; Statistics ; Finance ; Electronic books ; local
    Abstract: "This Element is an excerpt from Financing the Future: Market-Based Innovations for Growth (ISBN: 9780137011278) by Franklin Allen and Glenn Yago. How the housing bubble really happened: an explanation that's simple, clear, sensible, authoritative, and short!"--Resource description page.
    Note: Description based on resource description page (viewed Sept. 13, 2010). - "An e-burst of inspiration from the best books"--Cover
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