Summary
Contents
Subject index
Financial Engineering for Low-Income Households is an edited compilation of articles that focus on using financial engineering-a multidisciplinary field that uses technical methods from the fields of finance, mathematics and economics-to design financial services for low-income households. The book aims to provide an understanding of the various risk-reward trade-offs facing low-income households and how principles of financial engineering can be best applied to understand and manage the complete suite of financial and non-financial assets, including human capital, insurance, annuities and loans.
This compilation connects the fundamental concepts in finance and financial engineering with the relatively new field of financial services delivery to low-income households. Its applied nature will help the reader grasp the implications of theoretical principles in finance on practical product-design considerations. It has several illustrations, caselets, and exercises to facilitate learning and in order to develop a full understanding of the underlying concepts.
The book will be a valuable tool for students and practitioners interested in the design and delivery of financial services to low-income households.
Health Risk and Financing
Health Risk and Financing
Introduction
Health risks and financing of healthcare is a challenge for most households. However, it assumes particular significance for low-income households as it is perhaps the single most important reason for the descent of a low-income household into severe poverty (Narayan, 2009).
This chapter attempts to develop an understanding of the basic concepts in healthcare financing. To explain the nature and complexities of healthcare financing, a small case of a typical low-income household is presented below:
Sankar Samidurai and his wife Chithra Sankar are from Mavuthirupu village of Tamil Nadu and stay with their two children, 17-year-old Pravinranjan and 12-year-old Pravina, along with Sankar's mother. Both, Sankar and Chithra are daily-wage laborers and earn ₹ 3,000 and ₹ 850 per month, ...
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