The National Bank of Ukraine holds an open research seminar on Tuesday, October 26, 2017. Dr. Volosovych, an Associate Professor of International Finance at Erasmus University Rotterdam, the Netherlands, will present his recent work in progress “‘Good’ and ‘bad’ social capital and financial development: Evidence from household financial markets participation” co-authored with Araceli Carvallo.
During the seminar, Dr. Volosovych will raise an important question on the role of social capital for financial development at the micro level. In theory, prevailing social capital may generate trust within narrow or broad social networks, with the opposite effects on individual participation in formal financial markets. Exploiting rich household-level data from Mexico the researchers document presence of both positive and, frequently overlooked, negative aspects of social capital. They show that trust within a narrow social circle, such as among the family members and close acquaintances, is associated with heavy reliance on informal financial arrangements. In contrast, trust in broader networks, outside of specific groups, is associated with individuals favoring formal finance. This holds conditional on household and location characteristics and on other potential determinants of the level of individual trust. The penetration of banks into local financial markets does not seem to matter for financial inclusion of households.
Dr. Vadym Volosovych participates in the Visiting Scholar Program of the National Bank of Ukraine. In the past, he has been an Assistant professor of economics at Florida Atlantic University (USA) and a visiting scholar at the Research Department of the International Monetary Fund, Washington D.C. He received his PhD in Economics from the University of Houston (USA) in 2006.
The seminar’s working language will be English.
Seminar venue: room 306, 9, Instytutska St., Kyiv. The venue can be accessed via the central entrance.
The seminar starts at 3.30 p.m. The registration of participants will take place from 3 p.m. to 3.25 p.m.
All participants are required to have IDs.
In order to participate in the seminar, all interested stakeholders must submit an application stating their full name, place of employment, and contact details (telephone, e-mail) to [email protected]. The application deadline is 5 p.m. on 25 October 2017. Given the limited number of available seats, the NBU reserves the right to accept or reject applications. Each participant will receive an email saying whether their application has been accepted or rejected.
We encourage potential contributors to collaborate with us and present their research findings on issues related to the activities of the NBU and the financial system operation. Email your proposals (stating a desired seminar date, presentation materials, an executive summary and/or draft contributions) to the NBU Research Division of the Monetary Policy and Economic Analysis Department (email: [email protected]).