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Tuesday, July 15, 2008

Financial innovation and emerging markets

The German think tank INWENT had organised a conference on Financial Innovation & Emerging Markets. They have papers up on the web. In particular, see A Pragmatic Approach to Coping with Financial Globalization by Eswar Prasad and The question of innovation in Indian finance by Susan Thomas.


  1. The mother of all anecdotes, from Susan's paper...

    "The bank decided to gift a candy when a customer withdrew money from ATM"

    Side Note:Perfectly plausible marketing step, as till some years back, when ATM was not this prevalent,banks were thinking, how best to use it. For in "phoren" countries, the volume transacted via ATM was high. But in India, it was like, although customers tended to visit ATM multiple times in a month, but the cash volume transacted was woefully low.
    Hence, this marketing step...

    But RBI didn't give the permission to gift a candy to the customer!!!

    LOL... RBI really has got some clout... :)


  2. The paper presented by Eshwar Prasad in India Policy Forum 2008, was much more interesting than this one.

  3. what could be the next big things/innovations we will see in financial services sector in emerging countries like India

    I start the list...

    1. Mobile Commerce
    2. Credit Default Swaps
    3. ..


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