NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Publications by Robert Cull

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Working Papers and Chapters

May 2014Resolving the African Financial Development Gap: Cross-Country Comparisons and a Within-Country Study of Kenya
with Franklin Allen, Elena Carletti, Jun "QJ" Qian, Lemma Senbet, Patricio Valenzuela
in African Successes: Modernization and Development, Sebastian Edwards, Simon Johnson, and David N. Weil, editors
April 2012Resolving the African Financial Development Gap: Cross-Country Comparisons and a Within-Country Study of Kenya
with Franklin Allen, Elena Carletti, Jun Qian, Lemma Senbet, Patricio Valenzuela: w18013
With extensive country- and firm-level data sets we first document that the financial sectors of most sub-Saharan African countries remain significantly underdeveloped by the standards of other developing countries. We also find that population density appears to be considerably more important for banking sector development in Africa than elsewhere. To better understand how countries can overcome the high costs of developing viable banking sectors outside large metropolitan areas, we focus on Kenya, which has made significant strides in financial inclusion and development in recent years. We find a positive and significant impact of Equity Bank, a leading private commercial bank on financial access, especially for under-privileged households. Equity Bank’s business model—providing financia...
October 2005Historical Financing of Small- and Medium-Sized Enterprises
with Lance E. Davis, Naomi R. Lamoreaux, Jean-Laurent Rosenthal: w11695
We focus on the economies of the North Atlantic Core during the nineteenth and early twentieth centuries and find that an impressive variety of local financial institutions emerged to supply the needs of SMEs wherever there was sufficient demand for their services. Although these intermediaries had significant weaknesses, they were able to tap into local information networks and so extend credit to firms that were too young or small to secure funds from large regional or national institutions. In addition, by raising the return to savings for local households, they helped to mobilize significant new resources for economic development.

Contact and additional information for this authorAll papers and publicationsWorking Papers onlyWorking Papers with publication info

 
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