Shawn Cole. Baker Library 271 Harvard Business School Boston, MA

Transcription

1 Baker Library 271 Harvard Business School Boston, MA EDUCATION 2005 Ph.D., Economics, Massachusetts Institute of Technology Dissertation: Essays on Development and Finance Financial Development, Bank Ownership, and Growth. Or Does Quantity Imply Quality? Fixing Market Failures or Fixing Elections? Elections, Banks, and Agricultural Lending in India Capitalism and Freedom: Slavery and Manumission in Louisiana, Committee: Professor Esther Duflo (chair) Professor Abhijit Banerjee Professor Sendhil Mullainathan 1998 A.B., magna cum laude, Economics and German Literature, Cornell University HARVARD UNIVERSITY Appointments 7/1/05 6/30/10 Assistant Professor of Graduate Business Administration 7/1/10 present Associate Professor of Graduate Business Administration Assignments First-year, Finance 1, fall First-year, Finance 2, spring Co-Organizer, Finance Unit Seminar 2011-present Business at the Base of the Pyramid (Spring 2011, Fall 2011, two sections Fall 2012) Economics 2390c: Development Economics II (Spring 2011, 2012, 2013) 2012 Social Impact Investing Field Course, spring Page 1 of 12

2 2013 Impact Investing and Social Commercial Models, Field Course, spring 2009 India IXP Faculty Leader, spring 2010 New Orleans IXP Faculty Leader 2011 India IXP Microfinance Faculty leader, winter Finance Unit Rookie Hiring Committee Academic Performance Committee 2007 Independent Study Research (1) 2008 Independent Study Research (1) 2009 Independent Study Research (1) 2010 Independent Study Research (2) 2011 Independent Study Research (3) 2012 Independent Study Research (1) Executive Education, ACCION Microfinance, spring 2008 Executive Education, Consumer Financial Services 2012 Executive Education, Develop India, Mumbai 2012 Executive Education, Real Estate Executive Seminar WORK EXPERIENCE Assistant Economist, Federal Reserve Bank of New York, New York, NY GRANTS Weather Insurance, Price Information, and Hedging: Financial Innovations in Gujarat to Help the Poor Manage Agricultural Risk, BASIS and USAID Does Financial Education Improve Financial Access for Women? Experimental Evidence from India, World Bank Financial Literacy and Use of Financial Services: Proposal for a Randomized Evaluation in Indonesia, World Bank, grant to fund study on financial literacy Incentives for Loan Officers, Kauffman Foundation Incentives for Loan Officers, International Growth Centre Making Markets Work for the Poor: Can Customized Price Information Improve Agricultural Decision Making, AusAID Financial Literacy Among South African Mine Workers, Financial Education Fund Weather Insurance, 3ie, Impact Evaluation Grant 2010 Systematic Review of the Impact of Financial Services on Poverty, DFID, UK 2011 Biases and Life Insurance, ILO Microinsurance Grant Improving Agricultural Management through Mobile Phones, Gates Foundation 2012 Weather Insurance, International Growth Center Evaluating the impact of futures prices on farmers through high-frequency phone surveys, Chicago Mercantile Exchange / Federalist Society grant Awaaz Otalo: Investigating the Impact of Cell Phone Based Agricultural Extension, USAID/Development Innovation Ventures grant Page 2 of 12

3 Overcoming behavioral biases in life insurance purchasing, National Stock Exchange / NYU Promoting Savings through Banking Correspondence Agents, Citi Foundation PUBLICATIONS Publications in Journals Fenella Carpena,, Jeremy Shapiro, and Bilal Zia, Liability Structure in Small-Scale Finance: Evidence from a Natural Experiment, World Bank Economic Review (2013), Xavier Gine, Jeremy Tobacman, Petia Topalova, Robert Townsend, and James Vickery, Barriers to Household Risk Management: Evidence from India, American Economic Journal: Applied Economics (January 2013), Andrew Healy, and Eric Werker, Do Voters Demand Responsive Governments? Evidence from Indian Disaster Relief, Journal of Development Economics (March 2012), Thomas Sampson, and Bilal Zia, Prices or Knowledge? What Drives Demand for Financial Services in Emerging Markets?, Journal of Finance (December 2011) Sarthak Gaurav,, and Jeremy Tobacman, Marketing Complex Financial Products in Emerging Markets: Evidence from Rainfall Insurance in India, Journal of Marketing Research (November 2011) and Barrett E. Kirwan, Between the Corporation and the Household: Commodity Prices, Risk-Management, and Agricultural Production in the United States, American Journal of Agricultural Economics (December 2009) Financial Development, Bank Ownership, and Growth: Or, Does Quantity Imply Quality? Review of Economics and Statistics (February 2009) Fixing Market Failures or Fixing Elections? Agricultural Credit in India, American Economic Journal: Applied Economics (January 2009) Abhijit Banerjee,, Esther Duflo, and Leigh Linden, Remedying Education: Evidence from Two Randomized Experiments in India, Quarterly Journal of Economics (August 2007) Capitalism and Freedom: Manumissions and the Slave Market in Louisiana, , Journal of Economic History (December 2005) Book Chapters Page 3 of 12

4 Abhijit Banerjee,, and Esther Duflo, Banking Reform in India, in A. Panagariya, B. Bosworth and S. Berry, eds., India Policy Forum, Volume 1, Brookings Institution, pp , 2004 Abhijit Banerjee,, and Esther Duflo, Bank Financing in India, in W. Tseng and D Cowen, eds., India s and China s Recent Experience with Reform and Growth, IMF and Palgrave-Macmillan, 2005, John Thompson, and Peter Tufano, Where Does it Go? Spending by the Financially Constrained, in Borrowing to Live: Consumer and Mortgage Revisited, Brookings Institution Press, pp , 2008 and Anh Tran, Evidence from the Firm: A New Approach to Understanding Corruption, International Handbook on the Economics of Corruption, Volume II, pp , Edward Elgar Publishing, London, United Kingdom, 2012 and Bilal Zia, Valuing Financial Literacy, in Banking the World: Empirical Foundations of Financial Inclusion, pp , MIT Press, 2013 Other Publications Review of Building Inclusive Financial Systems: A Framework for Financial Access, and Finance for All? Policies and Pitfalls in Expanding Access, Journal of Economic Literature (December 2008) and Nilesh Fernando, Assessing the Importance of Financial Literacy, Asian Development Bank: Finance for the Poor, A Quarterly Newsletter of the Focal Point for Microfinance (September 2008) Course Material and Peter Tufano, BASIX, Harvard Business School Case (2007) 15 BASIX, Harvard Business School teaching note (2007) 21 and Peter Tufano, BASIX Simulation Model, Harvard Business School Note (2007) 4, Peter Tufano, Daniel Schneider, and Daryl Collins, First National Bank s Golden Opportunity, Harvard Business School Case (2007) 20 First National Bank s Golden Opportunity, Harvard Business School teaching note (2007; rev. 2008) 13 and Theresa Chen, SKS Microfinance, Harvard Business School Case Page 4 of 12

5 (2008; rev. 2009) 21 SKS Microfinance, Harvard Business School teaching note (2009) 18, Daniel Bergstresser, and Siddhart Shenai, UBS and Auction Rate Securities (A), Harvard Business School Case (2009; rev. 2011) 23, Daniel Bergstresser, and Siddhart Shenai, UBS and Auction Rate Securities (B), Harvard Business School Case (2009; rev. 2011) 4, Daniel Bergstresser, and Siddhart Shenai, UBS and Auction Rate Securities (C), Harvard Business School Case (2009; rev. 2010) 2 UBS and Auction Rate Securities (A), (B) and (C), Harvard Business School teaching note (2009) 19 and Baily Blair Kempner, BANEX and the No Pago Movement (A), Harvard Business School Case (2011; rev. 2013) 21 and Baily Blair Kempner, BANEX and the No Pago Movement (B), Harvard Business School Case (2011; rev. 2013) 4 BANEX and the No Pago Movement (A) and (B), Harvard Business School teaching note (2013) 14 and Lilei Xu, China Life: Microinsurance for the Poor, Harvard Business School Case (2011; rev. 2013) 15 China Life: Microinsurance for the Poor, Harvard Business School teaching note (2013) 19 and Yannick Saleman, SKS and the AP Microfinance Crisis, (2011; rev. 2013) 18 SKS and the AP Microfinance Crisis, Harvard Business School teaching note (2013) 8, Rawia Abdel Samad, Matt Berner, and Raluca Dragusanu, Social Finance, Inc., Harvard Business School Case (2011; rev. 2013) 22 Social Finance, Inc., Harvard Business School teaching note (2013) 13 Financial Services for the World s Poor, Harvard Business School module note (2013) 38 Page 5 of 12

6 WORKING PAPERS, Anna Paulson, and Gauri Kartini Shastry, Smart Money: The Effect of Education on Financial Behavior, HBS Working Paper (2008; rev and 2012), Martin Kanz, and Leora Klapper, Incentivizing Calculated Risk-Taking: Evidence from an Experiment with Commercial Bank Loan Officers, HBS Working Paper (2012); revise and resubmit, Journal of Finance and Nilesh Fernando, The Value of Advice: Evidence from Mobile Phone-Based Agricultural Extension, HBS Working Paper (2012), Anna Paulson, and Gauri Kartini Shastry, High School and Financial Outcomes: The Impact of Mandated Personal Finance and Mathematics Courses, HBS Working Paper (2013); solicited by and submitted to Journal of Human Resources Santosh Anagol, and Shayak Sarkar, Understanding the Advice of Commissions- Motivated Agents: Evidence from the Indian Life Insurance Market, HBS Working Paper (2012; rev. 2013); under review, Journal of Finance, Xavier Gine, and James Vickery, How Does Risk Management Influence Production Decisions? Evidence from a Field Experiment, HBS Working Paper (2013) and David Yanagizawa-Drott, Does Limited Attention to Prices Affect Forecasting and Production? Experimental Evidence with Indian Farmers, HBS Working Paper (2013) WORK IN PROGRESS, Stefan Hunt, and Wentao Xiong, Information, Expectations, and Agricultural Investment: Evidence from a Field Experiment in India, Dan Stein, and Jeremy Tobacman, What is Rainfall Index Insurance Worth? A Comparison of Valuation Techniques, Santosh Anagol, Debiasing and the Market for Life Insurance, Benjamin Iverson, and Peter Tufano, Saving, Borrowing and Gambling: Lottery Linked Accounts PhD STUDENTS SUPERVISED Page 6 of 12

7 Allie Schwartz (2006), Essays in Behavioral Finance, Harvard University Ngoc-Anh Tran (2009), Corruption, Ranking and Competition, Harvard University Jeremy Shapiro (2009), Empirical Essays on Finance and Development, MIT Stefan Hunt (2010), Essays in Finance and Development, Harvard University Laura Serban (2010), Essays on Commodities Futures Markets, Harvard University Bruno Ferman (2011), Behavioral Finance in Emerging Markets, MIT Martin Kanz (2011), Essays on Lending in Emerging Markets, Harvard University Sarthak Guarav (2012), Risk and Vulnerability of Agricultural Households in India, Indira Gandhi Institute of Development Research, Mumbai, India Anna Milanez (2013, expected), Human Capital Costs of Financial Constraints, Harvard University Vivek Shah (2013, expected), Essays on Risk and Insurance in India, Wharton School, University of Pennsylvania PRESENTATIONS Invited Spring 2013: Wharton; University of Chicago GSB; University of Michigan; International Finance Corporation; Pontifica Universidad Catolica de Chile Are the Monitors Over-Monitored? Evidence from Corruption, Vigilance and Lending in Indian Banks International Seminar Series, HBS (February 2007) India s Financial System Conference, Wharton (April 2007) New England Universities Development Conference, Kennedy School of Government (October 2007) Florida Atlantic University (November 2007) Microeconomics of Growth Conference, Washington DC (June 2008) Conference on Risk Analysis and Management, Washington DC (October 2008) Bank Competition in India Sixth Annual Conference on Indian Economic Policy Reform, Stanford (June 2005) Barriers to Household Risk Management: Evidence from India Swiss Re (October 2006) New Techniques in Development Economics, Canberra, Australia (June 2008) IFMR, Chennai, India (June 2008) Page 7 of 12

8 Empowerment Conference Presentation, Kennedy School of Government (September 2008) Chicago GSB / BREAD Chicago (September 2008) Oxford (October 2008) Microfinance Conference, Yale (October 2008) Weather Insurance Conference, UCSD (April 2009) Maryland Economics (October 2009) UCLA (October 2009) NBER Household Finance Meeting (Cambridge, October 2009) Columbia Business School (December 2009) Boston University (December 2009) International Growth Center Conference, New Delhi (April 2010) Behavioral Biases Around the World BREAD Paris Conference (September 2100) RAND Behavioral Finance (BeFi) Conference (May 2011) Default and Punishment: Incentives and Lending Inside the Bank MIT Sloan Finance Seminar (April 2008) George Washington University (October 2008) University of Maryland (December 2008) Williams College (April 2009) Stanford GSB Finance Seminar, Stanford (May 2009) Berkeley Haas Finance Seminar, Berkeley (May 2009) Maryland Finance (October 2009) Do Voters Demand Responsive Government? Evidence from Indian Disaster Relief New England Universities Development Conference, Boston University (November 2008) Johns Hopkins University (February 2010) Effectiveness of Financial Literacy Education Global Seminar on Financial Literacy and Consumer Protection, Washington DC (September 2008) Federal Reserve Bank of Atlanta (April 2010) Effects of Financial Education on Saving Patterns Financial Literacy in Times of Turmoil and Retirement Insecurity Conference, Washington DC (March 2009) Financial Development, Bank Ownership, and Growth. Or Does Quantity Imply Quality? Indira Gandhi Institute for Development Research Seminar, Mumbai, India (August 2005) New England Universities Development Conference, Brown University (September 2005) Page 8 of 12

9 Duke University (December 2005) Joint London School of Economics / University College of London Development Seminar, London School of Economics (February 2006) International Research Conference, HBS (March 2008) Fixing Market Failures or Fixing Elections? Elections, Banks and Agricultural Lending in India European Summer Symposium in Financial Markets, Gerzensee, Switzerland (July 2006) How Does Risk Management Influence Production Decisions? Evidence from a Field Experiment Harvard University Environmental Economics Seminar (February 2011) USAID Evidence Summit (June 2011) NUEDC Yale (November 2011) International Food Policy Research, Washington, DC (July 2012) China India Insights Conference, Yale School of Management (August 2012) National University of Singapore (August 2012) Impact Evaluation World Bank Conference, Dakar, Senegal (February 2010) If You Are So Smart, Why Aren t You Rich? The Effects of Cognitive Ability, Education, and Financial Literacy on Financial Market Participation Boston Fed / Harvard University Consumer Finance Conference, Boston (October 2008) Rewarding Calculated Risk-Taking: Evidence from a Series of Experiments with Commercial Bank Loan Officers BREAD Montreal (May 2010) Emerging Markets Finance Conference, Beijing (July 2010) NBER Summer Institute (July 2010) NBER Corporate Finance (November 2011) Financial Intermediation Research Society, Minneapolis (June, 2012) IPA-JPAL Global Policy Conference Singapore (August 2012) Keynote Lecture, Madrid Finance Workshop (November 2012) Policy Solutions to Poverty South Asia Initiative Conference, Harvard University (May 2008) Understanding the Incentives of Commissions Motivated Advice: Theory and Evidence from the Indian Life Insurance Market Princeton University (April 2011) NBER Insurance Meeting (September 2011) Queens University, Belfast (September 2011) NYU-Stern, Designs for a Modern Insurance Regulatory Structure (March 2012) Sixth NYU-Stern Financial Intermediation Conference (May 2012) Page 9 of 12

10 National University of Singapore (August 2012) National Technical University (Singapore) (August 2012) The Value of Advice: Evidence from Mobile Phone-Based Agricultural Extension Harvard (March 2012) International Food Policy Research Institute, Washington (August 2012) IPA Policy Conference, Bangkok (August 2012) Oxfam, Boston (August 2012) IPA SME Initiative Working Group (November 2012) Valuing Financial Literacy Conference on Measurement, Promotion, and Impact of Access to Financial Services, Washington DC (March 2009) DISCUSSIONS Banking Competition in Developing Countries: Does Foreign Bank Entry Improve Credit Access? Barriers to Entry and to Expansions in the Developing Word: The Role of Institutional Constraints Conference, Amsterdam (August 2006) Borrowing Beyond Borders: The Geography and Pricing of Syndicated Bank Loans Western Financial Association, Big Sky, Montana (June 2007) The Choice between Arm s-length and Inside Debt: Evidence from eloans, Western Financial Association, San Diego (June 2009) Competition and the Structure of Vertical Relationships in Capital Markets Western Financial Association, San Diego (June 2009) Deposit Collecting: Unbundling the Role of Frequency, Salience and Habit Formation in Generating Savings AEA Conference, San Diego (2013) Do Women Pay More for Credit? Evidence from Italy NBER Corporate Finance Summer Institute, Cambridge (July 2009) Entrepreneurship and Credit Constraints: Evidence from a French Loan Guarantee Program NBER, Savannah, GA (May 2008) Financial Education in High School Improving the Effectiveness of Financial Education and Saving Programs, NBER (May 2007) Getting Credit to High Return Microenterprises: The Results of an Information Intervention Page 10 of 12

11 Small Business Finance: What Works, What Doesn t?, Washington DC (May 2008) Information Disclosure, Cognitive Biasees, and Payday Borrowing NBER Corporate Finance Summer Institute, Cambridge (July 2009) Landed Interest and Financial Underdevelopment in the United States NBER Corporate Finance Conference, Chicago GSB (April 2008) Patterns of Rainfall Insurance Participation in Rural India Conference on Access to Finance, Washington DC (March 2007) Profiting from Gaizhi: Management Buyouts during China s Privatization AEA Conference, New Orleans (January 2008) Rational Expectations? Evidence from Planting Decisions in Semi-Arid India New England Universities Development Conference, Kennedy School of Government (October 2007) What Are the Headwaters of Formal Savings? Experimental Evidence from Sri Lanka AEA Conference, San Diego (January 2013) PROFESSIONAL ACTIVITIES Telluride Association Board of Custodians, Chair, managed $50m endowment for a non-profit educational association 2007-Present Affiliate, Weatherhead Center for International Affairs 2009-Present Board of Editors, The Journal of Development and Globalization 2009-Present Affiliate, Bureau for Research and Economic Analysis of Development 2007, 2010 Program Committee, Northeastern Universities Development Conference 2009-Present Affiliate, Center for Global Development 2010-Present Program Committee, WFA 2010-Present Program Committee, Darden International Finance Conference 2010 Program Committee, Emerging Markets Finance Conference, Beijing External Advisor, Gates Foundation, Financial Services for the Poor Page 11 of 12

12 2012-present Member, Federal Reserve Bank of Boston Community Development Research Advisory Council Referee: American Economic Journal: Applied Economics; American Economic Review; American Sociological Review; CEPR/Private Sector Development Grants, Economic Journal; Empirical Economics; International Institute for Impact Evaluation, International Growth Center, Journal of Banking and Finance; Journal of Development Economics; Journal of Human Resources; Journal of Finance; Journal of Financial Economics; Journal of Financial Intermediation; Journal of Financial Services Research; Journal of Macroeconomics; Journal of Political Economy; Journal of Public Economics, Journal of Public Finance; Journal of Money; Credit and Banking; Management Science; National Science Foundation; Oxford University Press; Palgrave; Quarterly Journal of Economics; Review of Corporate Financial Studies; Review of Economics and Statistics; Review of Economic Studies; Swiss National Science Foundation, Southern Economic Journal, UK Government Policy Review, World Bank Economic Review Page 12 of 12