Enterprising Psychometrics and Poverty Reduction / SpringerBriefs in Psychology (PDF)
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As the deadline for the Millennium Development Goals draws near, one of the most critical--global poverty reduction--remains at best a work in progress. But as emerging markets beckon millions of aspiring business owners to set up shop, age-old barriers to funding prevent them from getting started. One answer lies in psychometrics, which enables lenders to assess applicants' potential for success in developing their enterprises when traditional credit applications fall short.
Enterprising Psychometrics and Poverty Reduction sets out in accessible detail this innovative approach to risk evaluation, which uses methods similar to psychometric tools used in corporate hiring. The book evaluates this approach in six financial organizations in Kenya, Colombia, Peru, and South Africa, with extensive charts and tables breaking down each program's profitability and effectiveness. Especially by eliminating disparities that prevent women from accessing credit, this assistance fuels long-range economic growth and general well-being. This concise volume:
- Explains the psychometric approach to credit and its methodologies.
- Identifies core characteristics shared by successful small business owners.
- Outlines a novel approach to credit scoring models for small businesses.
- Reviews the relevant literature on personality and personality testing.
- Features representative success stories.
- Discusses implications for implementing psychometric loan technologies in banks worldwide, and its potential relationship to training programs.
Enterprising Psychometrics and Poverty Reduction offers message and methods to professionals and researchers in psychology, economics, development, and finance, especially those involved in global development, the psychology of poverty reduction, banking in emerging markets, and NGOs.
Asim Khwaja is co-founder of EFL and Chairman of the Board. He is also professor of Public Policy at the Harvard Kennedy School of Government. His areas if interest include economic development, finance, education, political economy, institutions, and contract theory/mechanism design. His research has been published in the leading economics journals, such as the American Economic Review and the Quarterly Journal of Economics, and has received coverage media outlets such as the Economist, NY Times, Washington Post, Al-Jazeera, BBC, and CNN. Asim received BS degrees in economics and mathematics with computer science from MIT and PhD in economics from Harvard.
Carlos del Carpio is Head of Analytics in EFL's Lima office, responsible for data quality control, analysis, and model building. Prior to joining EFL, Carlos worked for the largest commercial bank in Perú where he developed credit risk models for corporate clients using a variety of credit scoring technologies. Carlos has research experience in credit and market risk modeling, as well specialized training in financialeconomics
- Autoren: Bailey Klinger , Asim Ijaz Khwaja , Carlos Del Carpio
- 2013, 2013, 66 Seiten, Englisch
- Verlag: Springer-Verlag GmbH
- ISBN-10: 146147227X
- ISBN-13: 9781461472278
- Erscheinungsdatum: 17.05.2013
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- Vorlesefunktion
What to do? The three economists provide a very sensible and important answer: Evaluate the person him- or herself by psychological tests. Two issues are important for paying back the loan: First the person must be able to build a good enterprise and make enough money to pay back the loan. Second, the person must be willing to pay back the loan.
Psychological research on entrepreneurship has made enough headway to provide good data for understanding which person characteristics lead to good entrepreneurial success. Moreover, there has been a long tradition to evaluate a person’s integrity to understand whether somebody is willing to cheat others by not paying back a loan. The authors take these issues as their starting point and describe how they produce the results. This is practical and useful. Recently the New York Times has written a long piece on the company build by these three authors and how successful they have been in helping banks to help micro-entrepreneurs to get the resources to be able to succeed. This is a ”must-read” book for anybody who is interested to advance sustainable credits for micro-entrepreneurs."
Prof. Michael Frese, NUS Business School, Singapore
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