A study on financial and product innovation in emerging economies highlights developments in India’s credit landscape. The research examines how new financial instruments and lending models have influenced market dynamics and consumer access to credit. Findings suggest that innovation in credit products has contributed to broader financial inclusion, particularly in underserved regions. The expansion of tailored financial services has supported small businesses and low-income households, fostering economic participation. These trends reflect a shift toward more adaptive and inclusive financial systems in developing markets.
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Credit and product innovation in emerging markets: Evidence from India CEPR