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- All HBS Web
(120,073)
- Faculty Publications (119)
- January 2013
- Article
Barriers to Household Risk Management: Evidence from India
By: Shawn A. Cole, Xavier Gine, Jeremy Tobacman, Petia Topalova, Robert M. Townsend and James Vickery
Why do many households remain exposed to large exogenous sources of non-systematic income risk? We use a series of randomized field experiments in rural India to test the importance of price and non-price factors in the adoption of an innovative rainfall insurance... View Details
Cole, Shawn A., Xavier Gine, Jeremy Tobacman, Petia Topalova, Robert M. Townsend, and James Vickery. "Barriers to Household Risk Management: Evidence from India." American Economic Journal: Applied Economics 5, no. 1 (January 2013): 104–135.
- 2012
- Chapter
Valuing Financial Literacy
By: Shawn Cole, Thomas Sampson and Bilal Zia
Cole, Shawn, Thomas Sampson, and Bilal Zia. "Valuing Financial Literacy." Chap. 12 in Banking the World: Empirical Foundations of Financial Inclusion, edited by Robert Cull, Asli Demirguc-Kunt, and Jonathan Morduch, 415–428. Cambridge, MA: MIT Press, 2012.
- November 2, 2012
- Editorial
Natural Disasters Hurt Incumbents
By: Shawn A. Cole, Andrew Healy and Eric Werker
Cole, Shawn A., Andrew Healy, and Eric Werker. "Natural Disasters Hurt Incumbents." Politico (November 2, 2012).
- September 2012
- Case
BASIX (Abridged)
By: Shawn Cole and Peter Tufano
BASIX, an Indian microfinance corporation, must decide whether to continue to sell weather insurance to its clients. A brand-new financial product, weather insurance pays if measured rainfall during the growing season falls below a pre-specified limit. Mr. Sattaiah,... View Details
Keywords: Cost vs Benefits; Microfinance; Household; Risk Management; Insurance; Banking Industry; India
Cole, Shawn, and Peter Tufano. "BASIX (Abridged)." Harvard Business School Case 213-035, September 2012.
- 2012
- Article
Do Voters Demand Responsive Governments? Evidence from Indian Disaster Relief
By: Shawn Cole, Andrew Healy and Eric Werker
Using rainfall, public relief, and election data from India, we examine how governments respond to adverse shocks and how voters react to these responses. The data show that voters punish the incumbent party for weather events beyond its control. However, fewer voters... View Details
Keywords: Political Elections; System Shocks; Natural Disasters; Policy; Motivation and Incentives; Public Opinion; India
Cole, Shawn, Andrew Healy, and Eric Werker. "Do Voters Demand Responsive Governments? Evidence from Indian Disaster Relief." Journal of Development Economics 97, no. 2 (March 2012): 167–181.
- 2012
- Chapter
Evidence from the Firm: A New Approach to Understanding Corruption
By: Shawn A. Cole and Anh Tran
Due to its clandestine nature, most of what we understand about corruption comes from survey evidence and self-reported perceptions of corruption: this limits both the range of questions that can be asked and the precision of answers that can be provided. This chapter... View Details
- December 2011
- Article
Prices or Knowledge? What Drives Demand for Financial Services in Emerging Markets?
By: Shawn A. Cole, Thomas Sampson and Bilal Zia
Financial development is critical for growth, but its micro-determinants are not well understood. We test leading theories of low demand for financial services in emerging markets, combining novel survey evidence from Indonesia and India with a field experiment. We... View Details
Keywords: Price; Knowledge; Demand and Consumers; Emerging Markets; Banks and Banking; Education; Finance; Behavior; Service Operations; Financial Services Industry; India; Indonesia
Cole, Shawn A., Thomas Sampson, and Bilal Zia. "Prices or Knowledge? What Drives Demand for Financial Services in Emerging Markets?" Journal of Finance 66, no. 6 (December 2011): 1933–1967.
- November 2011 (Revised March 2013)
- Case
China Life: Micro Insurance for the Poor
By: Shawn Cole and Lilei Xu
China Life must decide whether to accept the government's "invitation" to develop a microinsurance product for the rural poor. Can it be done profitably? View Details
Cole, Shawn, and Lilei Xu. "China Life: Micro Insurance for the Poor." Harvard Business School Case 212-030, November 2011. (Revised March 2013.)
- October 2011 (Revised March 2015)
- Case
SKS and the AP Microfinance Crisis
By: Shawn Cole and Yannick Saleman
SKS, India's leading microfinance firm, is challenged when politicians declaim microfinance as exploitation of the poor and severely restrict business practices. View Details
Keywords: Microfinance; Government Administration; Policy; Capital Markets; Crisis Management; Poverty; Financial Services Industry; India
Cole, Shawn, and Yannick Saleman. "SKS and the AP Microfinance Crisis." Harvard Business School Case 212-018, October 2011. (Revised March 2015.)
- Article
Marketing Complex Financial Products in Emerging Markets: Evidence from Rainfall Insurance in India
By: Sarthak Gaurav, Shawn A. Cole and Jeremy Tobacman
Recent financial liberalization in emerging economies has led to the rapid introduction of new financial products. Lack of experience with financial products, low levels of education, and low financial literacy may slow adoption of these products. This article reports... View Details
Keywords: Literacy; Insurance; Marketing; Decisions; Demand and Consumers; Financial Instruments; Emerging Markets; Education; Personal Finance; Agribusiness; Developing Countries and Economies; Innovation and Invention; Gujarat
Gaurav, Sarthak, Shawn A. Cole, and Jeremy Tobacman. "Marketing Complex Financial Products in Emerging Markets: Evidence from Rainfall Insurance in India." Journal of Marketing Research (JMR) 48, no. SPL (November 2011): S150–S162.
- April 2011 (Revised March 2021)
- Case
BANEX and the No Pago Movement (A)
By: Shawn Cole and Baily Blair Kempner
This case examines Grassroots Capital's decision of whether or not to continue investing in a Bolivian microfinance bank that is suffering financial distress. View Details
Keywords: Base Of The Pyramid; Political Risk; Microfinance; Insolvency and Bankruptcy; Government and Politics; Investment; Risk Management; Financial Services Industry; Bolivia
Cole, Shawn, and Baily Blair Kempner. "BANEX and the No Pago Movement (A)." Harvard Business School Case 211-092, April 2011. (Revised March 2021.)
- April 2011 (Revised March 2013)
- Supplement
BANEX and the No Pago Movement (B)
By: Shawn Cole and Baily Blair Kempner
This case examines Grassroots Capital's decision of whether or not to continue investing in a Bolivian microfinance bank that is suffering financial distress. View Details
Keywords: Decisions; Insolvency and Bankruptcy; Microfinance; Investment; Government and Politics; Crisis Management; Risk and Uncertainty; Financial Services Industry; Bolivia
Cole, Shawn, and Baily Blair Kempner. "BANEX and the No Pago Movement (B)." Harvard Business School Supplement 211-102, April 2011. (Revised March 2013.)
- 2010
- Other Unpublished Work
Is High School the Right Time to Teach Self-control? The Effect of Financial Education and Mathematics Courses on Savings Behavior
By: Shawn A. Cole and Gauri Kartini Shastry
Household financial behavior affects household welfare and the economy at large. Yet our understanding of how to improve financial decisions is limited. Recent literature and policy attention have focused on financial education, for example, in high school. We use... View Details
Keywords: Saving; Financial Management; Secondary Education; Behavior; Decision Choices and Conditions; Personal Finance; Household
Cole, Shawn A., and Gauri Kartini Shastry. "Is High School the Right Time to Teach Self-control? The Effect of Financial Education and Mathematics Courses on Savings Behavior." June 2010.
- April 2009
- Teaching Note
UBS and Auction Rate Securities (TN) (A), (B), and (C)
By: Shawn A. Cole, Daniel Baird Bergstresser and Siddharth Bhaskar Shenai
Teaching Note for [209119], [209131], and [209135]. View Details
Keywords: Financial Services Industry
- April 2009
- Teaching Note
First National Bank's Golden Opportunity (TN)
By: Shawn A. Cole
Teaching Note for [208072]. View Details
- April 2009
- Teaching Note
SKS Microfinance (TN)
By: Shawn A. Cole
Teaching Note for [208137]. View Details
- 2009
- Working Paper
Prices or Knowledge? What Drives Demand for Financial Services in Emerging Markets?
By: Shawn A. Cole, Thomas Sampson and Bilal Zia
Financial development is critical for growth, but its micro-determinants are not well understood. We test leading theories of low demand for financial services in emerging markets, combining novel survey evidence from Indonesia and India with a field experiment. We... View Details
Keywords: Banks and Banking; Saving; Knowledge Acquisition; Emerging Markets; Motivation and Incentives; Financial Services Industry; India; Indonesia
Cole, Shawn A., Thomas Sampson, and Bilal Zia. "Prices or Knowledge? What Drives Demand for Financial Services in Emerging Markets?" Harvard Business School Working Paper, No. 09-117, April 2009. (Revised October 2009, September 2010, October 2010.)
- March 2009 (Revised September 2011)
- Case
UBS and Auction Rate Securities (A)
By: Daniel Baird Bergstresser, Shawn A. Cole and Siddharth Bhaskar Shenai
UBS, a global financial services company, must decide whether to continue to support the market for Auction Rate Securities in the face of a growing financial crisis. These instruments, underwritten by UBS, were marketed to clients as highly liquid and safe... View Details
Keywords: Cost vs Benefits; Financial Crisis; Asset Pricing; Financial Liquidity; Financial Instruments; Government Legislation; Risk and Uncertainty; Financial Services Industry
Bergstresser, Daniel Baird, Shawn A. Cole, and Siddharth Bhaskar Shenai. "UBS and Auction Rate Securities (A)." Harvard Business School Case 209-119, March 2009. (Revised September 2011.)
- March 2009 (Revised October 2011)
- Supplement
UBS and Auction Rate Securities (B)
By: Daniel Baird Bergstresser, Shawn A. Cole and Siddharth Bhaskar Shenai
Supplement to 209119 View Details
Keywords: Debt Securities
Bergstresser, Daniel Baird, Shawn A. Cole, and Siddharth Bhaskar Shenai. "UBS and Auction Rate Securities (B)." Harvard Business School Supplement 209-131, March 2009. (Revised October 2011.)