Emerging Domestic Markets: How Financial Entrepreneurs Reach Underserved Communities in the United States

Emerging markets are countries with low incomes but high growth potential, and investors can find opportunities in these markets. However, many of the characteristics of emerging markets are also found in underserved communities in the United States. Gregory Fairchild's book explores how minority-owned and community-development institutions are innovating in financial services to promote economic development and reduce inequality. He provides examples of successful models and offers suggestions for sustainable growth.

Format: Hardback
Length: 352 pages
Publication date: 05 January 2021
Publisher: Columbia University Press

The term "emerging market" refers to a country with low incomes but high potential for rapid growth and increased economic competitiveness. Identifying these markets is crucial for international development and offers investors exciting opportunities for uncommon gains. However, many of the characteristics of emerging markets, such as demographic shifts, rising educational attainment, and urbanization, can also be found in underserved communities within developed countries.

In his book, "Emerging Domestic Markets: Reaching Underserved Groups with Financial Services," Gregory Fairchild explores the efforts of entrepreneurs in the United States to reach marginalized groups and reshape emerging markets. He highlights how minority-owned and community-development institutions are pioneering innovative financial services targeted at consumers and small businesses, contributing to economic development and reducing inequality.

Fairchild provides compelling narratives of these transformative models, including the decision by a Chinese-ethnic credit union to open a branch in a new neighborhood, the investment by a minority-led private equity firm in satellite radio for the developing world, and the efforts of 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 offers suggestions for sustainable growth of similar organizations.

Emerging Domestic Markets combines quantitative research with powerful stories of real-world entrepreneurs and nuanced insights on public policy. It offers a comprehensive set of prescriptions for inclusive financial development, highlighting the importance of reaching underserved communities and promoting economic growth.

By recognizing the similarities between emerging markets and underserved communities within developed countries, we can learn from the experiences of entrepreneurs and policymakers and work towards creating a more equitable and inclusive financial system.

Weight: 616g
Dimension: 163 x 238 x 30 (mm)
ISBN-13: 9780231173223