Emerging Domestic Markets
How Financial Entrepreneurs Reach Underserved Communities in the United States
by Gregory Fairchild
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Pub Date Jan 05 2021 | Archive Date Apr 21 2021
Columbia University Press | Columbia Business School Publishing
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Description
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.
Advance Praise
"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
Available Editions
| EDITION | Other Format |
| ISBN | 9780231173223 |
| PRICE | $35.00 (USD) |
Available on NetGalley
Featured Reviews
Reviewer 186721
Recently I read about a company called xclaim that processes claims that are seena s risky. The book starts off with such instruments that might look risky but goes on to show how with right resources minorities can run profitable companies. Social Finance. Does make you think about role of policy in the equality space.
Adam D, Reviewer
This is one of those books that, in the times between when you pick it up to read, you end up seeing its ideas play out in the world around you and you find your mind spinning off into a world of possibilities ... ok maybe that's just me.
This both an exciting and challenging time for entrepreneurship, and this book really presents the case that entrepreneurs can take advantage of latent opportunities while also providing real benefit to communities which have often gotten used to a lower standard of living.
On a tonal note, this book is extremely readable and Fairchild is a very engaging writer. This book feels like exactly what it is; a friendly, knowledgeable professor guiding you though his area of expertise.
Franka S, Reviewer
Synopsis: 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.
What I liked
- Fairchild includes his own experiences as a consumer of financial services and products to which the reader can relate.
- The author's wealth of knowledge combined with a keen interest to investigate the unconventional gives his work a unique edge.
- "A financial system that fails to serve large portions of its populace cannot be viewed as successful." Besides this issue Fairchild also presents various opportunities and solutions for financial institutions in emerging domestic markets.
- Although this is clearly an academic piece, using vocabulary (and jargon) not always commonly know, the ideas are described extensively and can therefore be understood by anyone with an interest in the subject.
What I didn’t like
- The introduction was a bit too lengthy for my taste. However, for readers with less upfront knowledge this introduction could be very helpful.
- The graphs and tables are illegible on a Kindle.
Rating
⭐️⭐️⭐️⭐️⭐️/5
Review on Goodreads, Amazon and Instagram.
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I received a digital copy of this book from the publisher via NetGalley in return for my honest review.
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