Financial innovation is a key to economic growth and stability. Franklin Allen, Nippon Life Professor at Wharton, discusses two key innovations - cell phone banking in Kenya and how it is transforming the economy there and covered bonds in Denmark that are a model for how to reboot the housing market as an economic engine. Allen is a co-author of "Financing the Future" with Glenn Yago. He is interviewed by Jennifer Manfre' of the Milken Institute.
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