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Item type:Publication, Super-App Behavioral Patterns in Credit Risk Models: Financial, Statistical and Regulatory Implications(Elsevier, 2020-12-24)In this paper we present the impact of alternative data that originates from an app-based marketplace, in contrast to traditional bureau data, upon credit scoring models. These alternative data sources have shown themselves to be immensely powerful in predicting borrower behavior in segments traditionally underserved by banks and financial institutions. Our results, validated across two countries, show that these new sources of data are particularly useful for predicting financial behavior in low-wealth and young individuals, who are also the most likely to engage with alternative lenders. Furthermore, using the TreeSHAP method for Stochastic Gradient Boosting interpretation, our results also revealed interesting non-linear trends in the variables originating from the app, which would not normally be available to traditional banks. Our results represent an opportunity for technology companies to disrupt traditional banking by correctly identifying alternative data sources and handling this new information properly. At the same time alternative data must be carefully validated to overcome regulatory hurdles across diverse jurisdictions. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Financial development, financial inclusion and informality: New international evidence(World Scientific, 2022-09-01)This paper explores the empirical relationship between informality and several indicators of financial development (FD) and financial inclusion (FI). We exploit a panel of 152 countries with annual information between 1991 and 2017. Using panel cointegration techniques, we find evidence of a negative long-run relationship between informality and FD/FI for different groups of countries. Moreover, exogeneity tests indicate that some FD/FI indicators cause less informality. Specifically, we find that in developing countries FD reduces informality when measured as “financial credit” and “bank credit”, whereas FI reduces informality when measured as “number of bank accounts”. These results suggest that higher credit and more bank accounts have contributed to reducing informality in developing countries in the long run. Additionally, we find evidence of double causality between informality and other FD/FI indicators in developing and Latin American countries. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Dataset on Financial Literacy, Financial Inclusion, Informal Financial Business Practices, and Intentions towards Formalization of Female Small Vendors in Lima, Peru(Brill Academic Publishers, 2024-01-01)This article presents findings from a survey conducted in Lima, Peru, aimed at understanding the relationships between education, financial literacy, financial inclusion, and informal financial business practices among small female vendors. The study, which collected 118 valid responses, focused on the impact of these factors on vendors' intentions toward formalization. Formality was assessed based on legal registration with tax authorities, emphasizing the informal practices viewed on a continuum. These practices were evaluated using a five-point gradation scale that depicted varying levels of formality. Financial literacy, financial inclusion, and formalization intentions were measured using a five-point Likert scale, while a dichotomous question captured the formality-informality of the businesses. The demographic variables included age, gender, business tenure, employee count, and business activity. Educational level, typically treated as demographic, was considered an antecedent to financial literacy. The dataset linked to this study included raw survey data. It serves as a valuable resource for researchers, industry representatives, public authorities, and stakeholders from developing countries to deal with informality and formalization. The survey methodology and data are adaptable for use in different national contexts, facilitating comparative analysis in developing countries. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Financial Inclusion in Peru: Appraisal and Perspectives(Universidad Nacional Mayor de San Marcos, 2023-07-31)Financial inclusion is a relevant matter that is constantly being looked upon, given its influence in reducing poverty and enabling the low-income population to access financial products and services, thus improving their living condition. This research aims to analyze the evolution of financial inclusion in Peru during the last seven years (2016-2022);also, it takes into consideration information from secondary source databases, such as reports from the World Bank, the Superintendencia de Banca y Seguros, and the Banco Central de Reserva del Perú. The method used has a descriptive and explanatory design. The findings of the research provide evidence that 56% of the Peruvian population has access to financial services (64% in urban areas and 31% in rural areas), which falls below the goal of 75% set by the Peruvian government. This gap can be attributed to customer service costs, including in-person service or adequate infrastructure for better service (access limitations), and poor financial education (limiting broader usage). - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Measuring gender gaps in financial literacy: evidence from Peru(Emerald Publishing Limited, 2026-06-09)This study examines gender differences in financial literacy in Peru using nationally representative ENCF data for 2013–2022. It assesses whether observed gaps persist after accounting for measurement choices, socioeconomic composition and distributional heterogeneity. Design/methodology/approach The analysis compares alternative financial literacy measures: the OECD/INFE core index, an extended six-item index, a wave-specific PCA-based score and an equal-weighted extended index. Mean gender gaps are estimated using pooled regressions with survey-year fixed effects and socioeconomic controls. Distributional heterogeneity is examined through conditional quantile regressions and unconditional quantile regressions based on Recentered Influence Functions (RIF). Findings Gender differences are sensitive to measurement design and model specification. Women display lower average financial literacy in unadjusted estimates, but these gaps attenuate substantially once education, employment, informality and household characteristics are controlled for. Evidence of a robust mean gender gap is limited. Conditional quantile regressions show no significant differences among comparable individuals, whereas unconditional RIF regressions reveal a female disadvantage only at the lower tail of the population distribution. This suggests that observed gaps are mainly compositional, reflecting women's overrepresentation among socioeconomically vulnerable groups. Originality/value The paper shows that conclusions about gender gaps in financial literacy depend on both measurement design and distributional perspective. By distinguishing conditional from unconditional differences, it offers a more nuanced interpretation of gender disparities and supports targeted financial education policies in developing-country contexts. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Beyond the counter: unveiling the financial informality dynamics of female entrepreneurs in Lima's Bodega sector(Emerald Publishing, 2026-04-02)This study examines the interrelations among educational level, financial literacy, financial inclusion and informal financial business practices of female entrepreneurs in Lima, Peru, focusing on their intentions toward business formalization. Additional2