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Emerging Domestic Markets: How Financial Entrepreneurs Reach Underserved Communities in the United States [Kõva köide]

  • Formaat: Hardback, 352 pages, kõrgus x laius: 229x152 mm, 26 figures and tables
  • Ilmumisaeg: 05-Jan-2021
  • Kirjastus: Columbia University Press
  • ISBN-10: 0231173229
  • ISBN-13: 9780231173223
Teised raamatud teemal:
  • Formaat: Hardback, 352 pages, kõrgus x laius: 229x152 mm, 26 figures and tables
  • Ilmumisaeg: 05-Jan-2021
  • Kirjastus: Columbia University Press
  • ISBN-10: 0231173229
  • ISBN-13: 9780231173223
Teised raamatud teemal:
Gregory Fairchild introduces readers to the rising set of entrepreneurs whose efforts to reach marginalized groups are reshaping the emerging markets of the United States. He explores how minority-owned and community-development institutions are achieving innovations in financial services to further economic development and reduce inequality.

The term “emerging market” refers to a country where incomes are currently low but that is likely to experience rapid growth and increasing economic competitiveness. Identifying emerging markets is important for international development, and for investors they represent intriguing opportunities to reap uncommon gains. Yet many of the characteristics of emerging markets—including demographic shifts, rising educational attainment, and growing urbanization—are also found closer to home, in communities that have been underserved by the existing financial-services system.

Gregory Fairchild introduces readers to the rising set of entrepreneurs whose efforts to reach marginalized groups are reshaping the emerging markets of the United States. He explores how minority-owned and community-development institutions are achieving innovations in consumer- and small-business-targeted financial services to further economic development and reduce inequality. Fairchild illustrates these transformative models through compelling narratives: the decision by a Chinese-ethnic credit union to open a branch in a new neighborhood, investment by a minority-led private equity firm in satellite radio for the developing world, and efforts by a community-development-loan fund to bring fresh foods into a food desert in Philadelphia. He analyzes the models of these organizations, measures their successes and failures, and provides suggestions for sustainable growth of similar organizations. Bringing together quantitative research, powerful stories of real-world entrepreneurs, and nuanced insights on public policy, Emerging Domestic Markets offers a vital set of prescriptions for inclusive financial development.

Arvustused

I've long believed that the issues facing underserved communities are not intractable, despite what some say. There are proven approaches that work. In this book, Gregory Fairchild showcases some of those approaches and innovations, marrying his compelling firsthand experience with academic research. -- Robert E. Rubin, board chair, Local Initiatives Support Corporation, and former U.S. treasury secretary Fairchild expertly weaves personal narrative, academic scholarship, and practical insights to provide a truly compelling thesis for enhancing communities and financial systems within our urban centers. This book should be required reading in business schools, board rooms, and governments at all levels. -- Erika H. James, dean, Wharton School, University of Pennsylvania By sharing his own personal journey and decades of in-depth research, Gregory Fairchild reveals how capital and finance can help us build a more just, inclusive future. His timely account of community development financial institutions beautifully conveys their power to expand opportunity and transform lives, from Indian Country to the South Side of Chicago. -- Debra D. Schwartz, managing director of impact investments, John D. and Catherine T. MacArthur Foundation Arguably the greatest threat to Americas competitiveness in the global economy is the inequality of opportunity among races and places across the country. Fairchilds book details the work and stories of innovative people and organizations transforming the American financial system into an agent of economic mobility for more people and communities throughout our land. Continuing and expanding this work is absolutely critical to forming a more perfect union. -- Maurice A. Jones, president and CEO, Local Initiatives Support Corporation, and former U.S. HUD deputy secretary Fairchild moves the conversation on diversity and inclusion in the U.S. financial system forward, with personal stories from his own work and honest case studies that dont try to hide or sugarcoat the challenges. -- Marcus Schaefer, former CEO, Truliant Federal Credit Union Compelling vignettes along with sensitive analysis and commentary repeatedly affirm the impact that courageous leadership and a genuine commitment to economic and social justice can have on invigorating communities by embracing diversity and inclusion. * Choice *

Muu info

Commended for George R. Terry Book Award, Academy of Management 2022.
Acknowledgments vii
Preface xi
Chapter One The Best Investment I Never Had to Make
1(23)
Chapter Two A Fool's Errand? The Riskiness of Financial Services in Low-Income Areas
24(20)
Chapter Three Efficient? Are Development Financial Institutions Expensive to Operate?
44(18)
Chapter Four Changing the World Through the South Side of Chicago
62(19)
Chapter Five Corn Tostadas and a Changing Compton
81(20)
Chapter Six A Sense of Place: Interplay of Geography and Capability
101(19)
Chapter Seven What Ethnic Hairstyling and Credit Unions Have in Common
120(16)
Chapter Eight Croissants and Corridors to Wealth Creation
136(20)
Chapter Nine Targeted Private Equity I: Neighborhood Integration, Black Capitalism, and the Inception of Minority Private Equity
156(21)
Chapter Ten Targeted Private Equity II: The Advantages of Being a Marginal Minority
177(19)
Chapter Eleven Building Wealth in Indian Country
196(17)
Chapter Twelve Flooding the Food Desert in North Philly
213(19)
Chapter Thirteen A Bluebird Takes Flight: A Reinterpretation of Banking at American Express
232(22)
Chapter Fourteen How I Lost My FOMO
254(23)
Notes 277(32)
Index 309
Gregory Fairchild is the Isidore Horween Research Professor of Business Administration; associate dean for Washington, D.C., area initiatives; and academic director of public policy and entrepreneurship at the University of Virginias Darden School of Business.