07 Oct 2014
London Business School PhD Candidate Stephen Anderson-Macdonald, Dr. Anja Lambrecht, and Professor Rajesh Chandy have successfully gathered a combined $1million from various funders for two research projects on the role of marketing in stimulating economic growth in emerging markets.
The first project "Managerial Capital and Business Transformation in Emerging Markets", based in South Africa, examines the impact of marketing (versus finance) training programs on changes in prosperity, growth, and survival among micro-businesses in township slums in South Africa. Rajesh and Stephen are joined by Bilal Zia from the World Bank on this project; they have partnered with Business Bridge - an NGO founded by Professor Michael Hay.
The second project "Enhancing the Productive Assets of Micro Entrepreneurs: A Field Experiment on Marketing an Innovative Savings-Loan Product to Small Businesses in Ghana" examines the economic and social impact of a hybrid savings-loan product for micro entrepreneurs in developing countries. Dr. Anja Lambrecht (LBS) and Professor Om Narasimhan (LSE) have also been involved in the project. The research team has partnered with Financial Republic, an MFI in Ghana founded by LBS EMBA alumna Nana Banton, and Innovations for Poverty Action (IPA) to carry out the study on the ground.
Anja Lambrecht commented: "We are very excited about the unique opportunity to investigate in a large-scale randomised controlled trial how different savings-loan products affect the performance of micro-entrepreneurs, a vital source of growth in emerging markets."
The researchers gathered the combined $1million from a number of different research funders. Initial and vital seed funding came from the Deloitte Institute of Innovation and Entrepreneurship, MLab, the Tony and Maureen Wheeler Chair in Entrepreneurship at LBS. The researchers then gathered grants and funds from organisations such as the Centre for Economic Policy Research (CEPR), Innovations in Poverty Action, the Department for International Development (DFID), RADMA, the International Growth Centre (IGC), the Gates Foundation, USAID, and the World Bank.
Reflecting on the research, Stephen Anderson-MacDonald notes: "This research could have never come to fruition without the support of the entire LBS community, including faculty, alumni and administrators."
Stephen Anderson-Macdonald is a fifth year Marketing PhD student at LBS. His research focuses on the role of marketing, entrepreneurship and finance in emerging markets.
Anja Lambrecht is Assistant Professor of Marketing at LBS. She specialises in pricing, choice and usage under nonlinear pricing, biases in tariff choice, adoption of services and technologies, online advertising and electronic markets.
Rajesh Chandy is Professor of Marketing, Tony and Maureen Wheeler Chair in Entrepreneurship, and an Academic Director of the Deloitte Institute for Innovation and Entrepreneurship at LBS. He specialises in innovation, entrepreneurship, marketing strategy, and emerging markets.