IDEAS home Printed from https://ideas.repec.org/p/chb/bcchwp/948.html
   My bibliography  Save this paper

The role of financial surveys for economic research and policy making in emerging markets

Author

Listed:
  • Sofía Gallardo
  • Carlos Madeira

Abstract

This chapter reviews the role of economic and financial surveys in the academic literature and policy-making, with a broad review of applications in emerging markets and developing economies. Surveys are increasingly used both in developed economies and emerging markets, providing information on a range of economic and financial phenomena, such as the updating of inflation expectations, the future economic outlook, the evolution of credit demand and supply factors, household balance sheets, plus behavioral biases and personal finance. These studies provide feedback regarding central bank credibility, the expected impact of monetary policy and financial regulation. Surveys also help to inform some common research puzzles in finance, such as the low financial market participation, unequal financial access, credit constraints and inaccurate economic expectations.

Suggested Citation

  • Sofía Gallardo & Carlos Madeira, 2022. "The role of financial surveys for economic research and policy making in emerging markets," Working Papers Central Bank of Chile 948, Central Bank of Chile.
    • Handle: RePEc:chb:bcchwp:948
    as

    Download full text from publisher

    File URL: https://www.bcentral.cl/documents/33528/133326/DTBC_948.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Angus Deaton, 2019. "The Analysis of Household Surveys," World Bank Publications - Books, The World Bank Group, number 30394, December.
    2. Nicolás Chanut & Mario Marcel C. & Carlos A. Medel V., 2019. "Can economic perception surveys improve macroeconomic forecasting in Chile?," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 22(3), pages 034-097, December.
    3. Madeira, Carlos, 2019. "The impact of interest rate ceilings on households’ credit access: Evidence from a 2013 Chilean legislation," Journal of Banking & Finance, Elsevier, vol. 106(C), pages 166-179.
    4. Franklin Allen & Elena Carletti & Robert Cull & Jun ‘QJ’ Qian & Lemma Senbet & Patricio Valenzuela, 2014. "The African Financial Development and Financial Inclusion Gaps," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 23(5), pages 614-642.
    5. Dean Karlan & Robert Osei & Isaac Osei-Akoto & Christopher Udry, 2014. "Agricultural Decisions after Relaxing Credit and Risk Constraints," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 129(2), pages 597-652.
    6. Francesco D’Acunto & Daniel Hoang & Michael Weber, 2022. "Managing Households’ Expectations with Unconventional Policies," Review of Financial Studies, Society for Financial Studies, vol. 35(4), pages 1597-1642.
    7. Olympia Bover & Jose Maria Casado & Sonia Costa & Philip Du Caju & Yvonne McCarthy & Eva Sierminska & Panagiota Tzamourani & Ernesto Villanueva & Tibor Zavadil, 2016. "The Distribution of Debt across Euro-Area Countries: The Role of Individual Characteristics, Institutions, and Credit Conditions," International Journal of Central Banking, International Journal of Central Banking, vol. 12(2), pages 71-128, June.
    8. Glas, Alexander & Hartmann, Matthias, 2016. "Inflation uncertainty, disagreement and monetary policy: Evidence from the ECB Survey of Professional Forecasters," Journal of Empirical Finance, Elsevier, vol. 39(PB), pages 215-228.
    9. Cristian Badarinza & John Y. Campbell & Tarun Ramadorai, 2016. "International Comparative Household Finance," Annual Review of Economics, Annual Reviews, vol. 8(1), pages 111-144, October.
    10. Bassett, William F. & Chosak, Mary Beth & Driscoll, John C. & Zakrajšek, Egon, 2014. "Changes in bank lending standards and the macroeconomy," Journal of Monetary Economics, Elsevier, vol. 62(C), pages 23-40.
    11. Orazio P. Attanasio & Guglielmo Weber, 2010. "Consumption and Saving: Models of Intertemporal Allocation and Their Implications for Public Policy," Journal of Economic Literature, American Economic Association, vol. 48(3), pages 693-751, September.
    12. Robert Cull & Li Gan & Nan Gao & Lixin Colin Xu, 2019. "Dual Credit Markets and Household Usage to Finance: Evidence from a Representative Chinese Household Survey," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 81(6), pages 1280-1317, December.
    13. Cho, Yoonyoung & Margolis, David N. & Robalino, David A., 2012. "Labor markets in low and middle income countries : trends and implications for social protection and labor policies," Social Protection Discussion Papers and Notes 67613, The World Bank.
    14. Krislert Samphantharak & Robert M. Townsend, 2018. "Risk and Return in Village Economies," American Economic Journal: Microeconomics, American Economic Association, vol. 10(1), pages 1-40, February.
    15. Dirk Krueger & Fabrizio Perri & Luigi Pistaferri & Giovanni L. Violante, 2010. "Cross Sectional Facts for Macroeconomists," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 13(1), pages 1-14, January.
    16. Krislert Samphantharak & Scott Schuh & Robert M. Townsend, 2018. "Integrated Household Surveys: An Assessment Of U.S. Methods And An Innovation," Economic Inquiry, Western Economic Association International, vol. 56(1), pages 50-80, January.
    17. Adeline Delavande, 2014. "Probabilistic Expectations in Developing Countries," Annual Review of Economics, Annual Reviews, vol. 6(1), pages 1-20, August.
    18. Reid, Monique & Siklos, Pierre & Plessis, Stan Du, 2021. "What drives household inflation expectations in South Africa? Demographics and anchoring under inflation targeting," Economic Systems, Elsevier, vol. 45(3).
    19. Beck, Thorsten & Brown, Martin, 2015. "Foreign bank ownership and household credit," Journal of Financial Intermediation, Elsevier, vol. 24(4), pages 466-486.
    20. Matteo Ciccarelli & Angela Maddaloni & Jose Luis Peydro, 2015. "Trusting the Bankers: A New Look at the Credit Channel of Monetary Policy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 18(4), pages 979-1002, October.
    21. Fernando Faure & Carlos A. Medel, 2020. "Does the Exposure to the Business Cycle Improve Consumer Perceptions for Forecasting? Microdata Evidence from Chile," Working Papers Central Bank of Chile 888, Central Bank of Chile.
    22. Stijn Claessens & Neeltje Van Horen, 2014. "Foreign Banks: Trends and Impact," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(s1), pages 295-326, February.
    23. Robin Burgess & Rohini Pande, 2005. "Do Rural Banks Matter? Evidence from the Indian Social Banking Experiment," American Economic Review, American Economic Association, vol. 95(3), pages 780-795, June.
    24. Stefano Giglio & Matteo Maggiori & Johannes Stroebel & Stephen Utkus, 2021. "Five Facts about Beliefs and Portfolios," American Economic Review, American Economic Association, vol. 111(5), pages 1481-1522, May.
    25. Michael Ehrmann & Damjan Pfajfar & Emiliano Santoro, 2017. "Consumers' Attitudes and Their Inflation Expectations," International Journal of Central Banking, International Journal of Central Banking, vol. 13(1), pages 225-259, February.
    26. Ashima Goyal & Prashant Mehul Parab, 2019. "Modeling Consumers' Confidence and Inflation Expectations," Economics Bulletin, AccessEcon, vol. 39(3), pages 1817-1832.
    27. repec:awi:wpaper:0612 is not listed on IDEAS
    28. Souleles, Nicholas S, 2004. "Expectations, Heterogeneous Forecast Errors, and Consumption: Micro Evidence from the Michigan Consumer Sentiment Surveys," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 36(1), pages 39-72, February.
    29. Abhijit Banerjee & Dean Karlan & Jonathan Zinman, 2015. "Six Randomized Evaluations of Microcredit: Introduction and Further Steps," American Economic Journal: Applied Economics, American Economic Association, vol. 7(1), pages 1-21, January.
    30. Madeira, Carlos, 2018. "Explaining the cyclical volatility of consumer debt risk using a heterogeneous agents model: The case of Chile," Journal of Financial Stability, Elsevier, vol. 39(C), pages 209-220.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Carlos Madeira, 2023. "Adverse selection, loan access and default behavior in the Chilean consumer debt market," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-29, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Carlos Madeira, 2023. "Adverse selection, loan access and default behavior in the Chilean consumer debt market," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-29, December.
    2. Carlos Madeira, 2022. "The double impact of deep social unrest and a pandemic: Evidence from Chile," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 55(S1), pages 135-171, February.
    3. Madeira, Carlos, 2023. "The evolution of consumption inequality and risk-insurance in Chile," Emerging Markets Review, Elsevier, vol. 54(C).
    4. Madeira, Carlos & Margaretic, Paula, 2022. "The impact of financial literacy on the quality of self-reported financial information," Journal of Behavioral and Experimental Finance, Elsevier, vol. 34(C).
    5. Carlos Medel, 2021. "Searching for the Best Inflation Forecasters within a Consumer Perceptions Survey: Microdata Evidence from Chile," Working Papers Central Bank of Chile 899, Central Bank of Chile.
    6. Gutiérrez-Romero, Roxana & Ahamed, Mostak, 2021. "COVID-19 response needs to broaden financial inclusion to curb the rise in poverty," World Development, Elsevier, vol. 138(C).
    7. Crump, Richard K. & Eusepi, Stefano & Tambalotti, Andrea & Topa, Giorgio, 2022. "Subjective intertemporal substitution," Journal of Monetary Economics, Elsevier, vol. 126(C), pages 118-133.
    8. Singh, Nirvikar, 2018. "Financial Inclusion: Concepts, Issues and Policies for India," MPRA Paper 91047, University Library of Munich, Germany.
    9. Carlos Madeira, 2015. "Identification of Earning Dynamics using Rotating Samples over Short Periods: The Case of Chile," Working Papers Central Bank of Chile 754, Central Bank of Chile.
    10. Madeira, Carlos, 2021. "The long term impact of Chilean policy reforms on savings and pensions," The Journal of the Economics of Ageing, Elsevier, vol. 19(C).
    11. Carlos Madeira, 2023. "Use of Financial Instruments among the Chilean households," Working Papers Central Bank of Chile 974, Central Bank of Chile.
    12. Madeira, Carlos, 2021. "The potential impact of financial portability measures on mortgage refinancing: Evidence from Chile," Journal of International Money and Finance, Elsevier, vol. 117(C).
    13. Madeira, Carlos, 2019. "Measuring the covariance risk of consumer debt portfolios," Journal of Economic Dynamics and Control, Elsevier, vol. 104(C), pages 21-38.
    14. Mostak Ahamed & Roxana Guti'errez-Romero, 2020. "COVID-19 response needs to broaden financial inclusion to curb the rise in poverty," Papers 2006.10706, arXiv.org.
    15. Gulesci, Selim & Battaglia, Marianna & Madestam, Andreas, 2018. "Repayment Flexibility and Risk Taking: Experimental Evidence from Credit Contracts," CEPR Discussion Papers 13329, C.E.P.R. Discussion Papers.
    16. Isha Agrawal & Rupa Duttagupta & Mr. Andrea F Presbitero, 2017. "International Commodity Prices and Domestic Bank Lending in Developing Countries," IMF Working Papers 2017/279, International Monetary Fund.
    17. Ahamed, M. Mostak & Mallick, Sushanta K., 2019. "Is financial inclusion good for bank stability? International evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 157(C), pages 403-427.
    18. Dlamini, Theophilus Lusito, 2020. "Factors affecting adoption of mobile money by farming households in Lomahasha Inkundla of the Lubombo Region, Eswatini," Research Theses 334777, Collaborative Masters Program in Agricultural and Applied Economics.
    19. Emily Breza & Cynthia Kinnan, 2021. "Measuring the Equilibrium Impacts of Credit: Evidence from the Indian Microfinance Crisis," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 136(3), pages 1447-1497.
    20. Christopher F Baum & Mustafa Caglayan & Bing Xu, 2017. "The Impact of Uncertainty on Financial Institutions," Boston College Working Papers in Economics 939, Boston College Department of Economics, revised 20 Sep 2018.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:chb:bcchwp:948. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Alvaro Castillo (email available below). General contact details of provider: https://edirc.repec.org/data/bccgvcl.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.