Emerging domestic markets : how financial entrepreneurs reach underserved communities in the United States / Gregory Fairchild.

Format:

Book

Author/Creator:

Fairchild, Gregory, author.

Language:

English

Subjects (All):

Minority business enterprises--United States.

Minority business enterprises.

Business enterprises--United States--Finance.

Business enterprises.

Endogenous growth (Economics)--United States.

Endogenous growth (Economics).

Physical Description:

1 online resource (350 pages) : illustrations

Place of Publication:

New York, New York : Columbia University Press, [2021]

Summary:

The term "emerging market" refers to countries where incomes are currently low but that are 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.

Contents:

Frontmatter

Contents

Acknowledgments

Preface

Chapter one The Best Investment I Never Had to Make

Chapter two A Fool's Errand?

Chapter three Efficient? Are Development Financial

Chapter four Changing the World Through the South Side of Chicago

Chapter five Corn Tostadas and a Changing Compton

Chapter six A Sense of Place: Interplay of Geography and Capability

Chapter seven What Ethnic Hairstyling and Credit Unions Have in Common

Chapter eigth Croissants and Corridors to Wealth Creation

Chapter nine Targeted Private Equity I: Neighborhood Integration, Black Capitalism, and the Inception of Minority Private Equity

Chapter ten Targeted Private Equity II: The Advantages of Being a Marginal Minority

Chapter eleven Building Wealth in Indian Country

Chapter twelve Flooding the Food Desert in North Philly

Chapter thirteen A Bluebird Takes Flight: A Reinterpretation of Banking at American Express

Chapter fourteen How I Lost My FOMO

Notes

Index

Notes:

Includes bibliographical references and index.

Description based on print version record.

ISBN:

0-231-55311-0