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B8354 Markets for the Poor
B8354 Markets for the Poor Course Description
This course is designed to give students a rigorous, research, policy and practice-based understanding of topics including: measurement and the underlying drivers of poverty; informal credit markets — and their interest rates and default rates — in areas such as Rotating Savings and Credit Associations (ROSCA), payday loans, and more established markets in consumer credit; the role of microfinance (loans, savings and insurance) in delivering financial services to the poor, and how access to capital markets by way of debt issues, initial public offers, and collateralized debt obligations have changed the landscape of microfinance; and innovations by corporations and governments in extending markets in healthcare, marketing and distribution of goods produced by the poor.
The course will address and evaluate the following questions:
- What are the challenges in measuring poverty?
- How pervasive is poverty and what are the underlying drivers of poverty?
- Has economic growth in developing countries (such as Brazil, China and India) helped to alleviate poverty?
- What are informal credit markets? Who participates in them? What are the interest rates and default rates in these markets?
- What are the challenges to the flow of credit to the poor borrowers? How can they be surmounted?
- What is the role of microfinance in delivering financial services to the Poor? How successful has been this effort? What are the challenges?
- What are some of the recent capital market innovations in the markets for the Poor? Can they help to scale up and bring down interest rates?
- What are some of the innovations introduced by corporations and governments in this field?
Spring 2014 sections:
2014-2015 No Free Lunch Seminar Series
Larry Glosten, S. Sloan Colt Professor of Banking and International Finance, presents Are Markets Rigged?
2014 Financial Studies Conference
Videos and photos from our 2014 conference: "The Quest for Yield."
Columbia Business School
Uris Hall 809, 3022 Broadway
New York, NY 10027
January 28, 2015The Program for Financial Studies' No Free Lunch Seminar Series was a great success in 2014! Watch the two most viewed videos: Neng Wang's Valuing Private Equity and Emi Nakamura's Is China Slowing?
December 17, 2014"Capital Structure in Major Corporations" video and photographs, featuring Martin Schroeter, CFO of IBM, and Professor Laurie Simon Hodrick, are now available
December 16, 2014The Fourth Annual Program for Financial Studies Conference was a great success. Videos and photographs of the event are now available
November 20, 2014The No Free Lunch November 18 recordings are now available
July 8, 2014If the recent New York Times article sparked your interest in James Gorman, watch this video of his keynote at our conference
January 16, 2013The No Free Lunch Seminar Series has been heralded as a best practice by BizEd magazine
In the News
January 29, 2015Executive Advisory Board Member Candace Browning comments on the economy on oilbarrel.com
January 26, 2014Professor Mark Broadie discusses putting measurement on Golf.com
January 23, 2015Professor Charles Jones’ research on financial markets is cited by Forbes.com>
January 22, 2015Professor Suresh Sundaresan presented on Indian Banks at the South Asia Institute at Columbia University>
January 21, 2015Executive Advisory Board Member Candace Browning forecasts the market in the LA Times
December 15, 2014Professor Charles Calomiris' lecture at Georgetown University – School of Foreign Service in Qatar is featured by the Qatar Foundation
December 9, 2014Executive Advisory Board Member Patricia Moraes spoke at the Brazil Opportunities Conference in Sao Paulo, Brazil on December 2-4
November 19, 2014Professor Andrew Ang was the featured speaker at the CFA Society Toronto on November 5
October 31, 2014Professor Charles Calomiris discusses the outlook of the Federal Reserve on Bloomberg Businessweek
October 20, 2014Executive Advisory Board Member Nicholas Galluccio comments on the banking sector on CNBC
October 16, 2014Professor Martin Oehmke discusses credit default swaps in Columbia Ideas at Work
October 14, 2014Professor Mark Broadie is mentioned in Golf Analytics
October 13, 2014Executive Advisory Board Member Candace Browning discusses women's leadership in Young or Mature. BofA Empowers Women
October 8, 2014Professor Andrew Ang's pension research is cited in Chief Investment Officer
October 6, 2014Executive Advisory Board Member Christian Mariager will be the keynote speaker at the 2014 CBS MBA Alumni Society Anniversary in Frederiksburg, Denmark on November 1
October 1, 2014Professor Paul Glasserman will present Carnegie Mellon's 7th Nash Distinguished Lecture in Quantitative Finance in Pittsburgh, PA on October 6