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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
Marina Halac, Associate Professor of Finance and Economics, presents Contests for Experimentation
2014 Financial Studies Conference
Videos coming soon from our 2014 conference: "The Quest for Yield."
Columbia Business School
Uris Hall 809, 3022 Broadway
New York, NY 10027
November 10, 2014Register now for "Capital Structure in Major Corporations" on November 11, 2014, featuring Martin Schroeter, CFO of IBM, and Professor Laurie Simon Hodrick
November 6, 2014The Fourth Annual Program for Financial Studies Conference "The Quest for Yield" is tomorrow!
October 15, 2014Registration for the Fourth Annual Program for Financial Studies Conference on November 7, 2014 is now open!
October 2, 2014The No Free Lunch September 30 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
May 12, 2014The Program for Financial Studies welcomes Melina Robbana as the first Program Director
December 20, 2013A transcript of James Gorman's keynote address from the Third Annual Program for Financial Studies Conference has been published in the Journal of Applied Corporate Finance
November 11, 2013The Third Annual Program for Financial Studies Conference was a great success. Videos and photographs of the event are now available
January 16, 2013The No Free Lunch Seminar Series has been heralded as a best practice by BizEd magazine
In the News
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 9, 2014Professor Charles Calomiris will speak about the banking sector at Georgetown University in Qatar
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
September 29, 2014Executive Advisory Board Members Maliz Beams and Candace Browning are recognized in the Top 25 Most Powerful Women in Finance
September 22, 2014Professor Charles Calomiris comments on economic expansion on Bankrate.com
September 18, 2014Professor Andrew Ang's new website factorinvestingbook.com features his book "Asset Management: A Systematic Approach to Factor Investing"
September 16, 2014Professor Laurie Hodrick's op-ed on Alibaba's IPO is published in Fortune
September 11, 2014Professor Charles Calomiris' research on capital requirements is cited by the Bank of England
September 9, 2014Professor Mark Broadie spoke at the World Scientific Congress of Golf on September 5-7 at Griffith University in Queensland, Australia
September 8, 2014Professor Andrew Ang questions private equity returns in The Globe and Mail
September 4, 2014Professor Mark Broadie predicts outcomes of The Barclays Cup
September 3, 2014Executive Advisory Board Member Maliz Beams presented at the Sixth Annual Women Advisors Network Forum in Baltimore, MD on August 25-28
August 27, 2014Professor Paul Glasserman will present at the Conference on Credit Risk and Systemic Risk in Boston, MA on September 20th
August 25, 2014Executive Advisory Board Member Tom Vandever will present at the Columbia Business School Private Equity Program's "M&A Roundup: How the 2014 'Resurgence' is Impacting Private Equity" panel in New York, NY on September 16
August 21, 2014Professor Andrew Ang's book “Asset Management: A Systematic Approach to Factor Investing" is featured in Systematic Relative Strength
August 20, 2014Professor Charles Calomiris discusses the Federal Reserve on Bloomberg BusinessWeek
August 19, 2014Executive Advisory Board Member Nicholas Galluccio speaks about small cap equities on Business News Network
August 18, 2014Executive Advisory Board Member Candace Browning is cited by the Financial Post
August 13, 2014Professor Charles Calomiris discusses the Ebola outbreak in Africa on Bloomberg BusinessWeek
August 12, 2014Professor Suresh Sundaresan presented at the NSE-NYU Indian Financial Markets Conference in New York, NY on August 4-5th