Documents & Reports

Robert J. Cull

Lead Economist

ROBERT CULL is a lead economist in the Finance and Private Sector Development Team of the Development Research Group of the World Bank. His most recent research is on the performance of microfinance institutions, African financial development, the effects of the global financial crisis on developing economies, and the design and use of household surveys to measure access to financial services.  He has published more than twenty-five articles in peer-reviewed academic journals including the Economic Journal, Journal of Development Economics, Journal of Economic Perspectives, Journal of Financial Economics, Journal of Law and Economics, and the Journal of Money, Credit, and Banking.  He is also co-editor of the Interest Bearing Notes, a bi-monthly newsletter reporting on financial and private sector research. Prior to joining the World Bank, Bob was an economist at the U.S. Dept. of Commerce and a visiting assistant professor of economics at the University of California at Los Angeles. He has a B.A. in applied mathematics and political science from Northwestern University and holds a Ph.D. and M.S. in social science from the California Institute of Technology.

Contact Information: Robert Cull, c/o research@worldbank.org

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Works by this author


  

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SME finance in Africa (English)

This paper uses cross-country firm-level surveys to gauge access to financial services and the importance of financing constraints for African enterprises. ... See More +

Policy Research Working Paper WPS7018 SEP 01, 2014

Beck, Thorsten; Cull, Robert

The African financial development and financial inclusion gaps (English)

This paper investigates the African financial development and financial inclusion gaps relative to other peer developing countries. The paper uses a set of variables related to financial development and inclusion. ... See More +

Policy Research Working Paper WPS7019 SEP 01, 2014

Allen, Franklin; Carletti, Elena; Cull, Robert; Jun Qian; Senbet, Lemma; Valenzuela, Patricio

Benchmarking the financial performance, growth, and outreach of greenfield microfinance institutions in Sub-Saharan Africa (English)

In recent years there has been a rapid increase in the presence and growth of greenfield microfinance institutions in Sub-Saharan Africa. This paper uses regressions to benchmark those African greenfields relative to other microfinance providers and finds that greenfields grew faster in terms of deposits and lending, improved their profitability to levels comparable to the top microfinance institutions, and substantially increased their lending to women. ... See More +

Policy Research Working Paper WPS7029 SEP 01, 2014

Cull, Robert; Harten, Sven; Nishida, Ippei; Bull, Greta

Financial inclusion and development : recent impact evidence (English)

This focus note is organized in three sections. The first section describes the extent to which poor households typically live and work in the informal economy and explores the implications of this for how access and use of financial services can benefit them. ... See More +

Brief 88169 APR 01, 2014

Cull, Robert; Ehrbeck, Tilman; Holle, Nina

Market facilitation by local government and firm efficiency : evidence from China (English)

This paper uses data from a large survey of Chinese firms to investigate whether local government efforts to facilitate market development improve firm efficiency. ... See More +

Policy Research Working Paper WPS6688 NOV 01, 2013

Cull, Robert; Xu, Lixin Colin; Yang, Xi; Zhou, Li-An; Zhu, Tian

Banking in Africa (English)

This paper takes stock of the current state of banking systems across Sub-Saharan Africa and discusses recent developments including innovations that might help Africa leapfrog more traditional banking models. ... See More +

Policy Research Working Paper WPS6684 OCT 01, 2013

Beck, Thorsten; Cull, Robert

Resolving the African financial development gap : cross-country comparisons and a within-country study of Kenya (English)

With extensive country and firm-level data sets, this paper first documents that the financial sectors of most Sub-Saharan African countries remain significantly underdeveloped by the standards of other developing countries. ... See More +

Policy Research Working Paper WPS6592 SEP 01, 2013

Allen, Franklin; Carletti, Elena; Cull, Robert; Qian, Jun; Senbet, Lemma; Valenzuela, Patricio

Improving access to banking : evidence from Kenya (English)

Using household surveys and bank penetration data at the district-level in 2006 and 2009, this paper examines the impact of Equity Bank -- a leading private commercial bank focusing on microfinance -- on access to banking in Kenya. ... See More +

Policy Research Working Paper WPS6593 SEP 01, 2013

Allen, Franklin; Carletti, Elena; Cull, Robert; Qian, Jun; Senbet, Lemma; Valenzuela, Patricio

A new index of the business environment for microfinance (English)

This paper describes a new index of the quality of the business environment for microfinance institutions (the Global Microscope on the Microfinance Business Environment). ... See More +

Policy Research Working Paper WPS6625 SEP 01, 2013

Cull, Robert; Navajas, Sergio; Nishida, Ippei; Zeiler, Renate

Government connections and financial constraints : evidence from a large representative sample of Chinese firms (English)

This paper examines the role of firms' government connections, defined by government intervention in the appointments of Chief Executive Officers and the status of state ownership, in determining the severity of financial constraints faced by Chinese firms. ... See More +

Policy Research Working Paper WPS6352 FEB 01, 2013

Sun, Bo; Xu, Lixin Colin; Li, Wei; Cull, Robert

Bank ownership and lending patterns during the 2008-2009 financial crisis : evidence from Latin America and Eastern Europe (English)

This paper examines the impact of bank ownership on credit growth in developing countries before and during the 2008-2009 crisis. Using bank-level data for countries in Eastern Europe and Latin America, it analyzes the growth of banks' total gross loans as well as the growth of corporate, consumer, and residential mortgage loans. ... See More +

Policy Research Working Paper WPS6195 SEP 01, 2012

Cull, Robert; Martinez Peria, Maria Soledad

Financial inclusion and stability : what does research show? (English)

A growing body of research suggests that whether broad-based access to formal financial services promotes financial stability depends on how that access is managed within the regulatory and supervisory framework, especially in terms of financial integrity and consumer protection. ... See More +

Brief 71305 MAY 01, 2012

Lyman, Timothy; Cull, Robert; Demirguc-Kunt, Asli

External finance and firm survival in the aftermath of the crisis : evidence from Eastern Europe and Central Asia (English)

Two data sets are used to study how country and firm characteristics affected firms' financial constraints and their likelihood of survival during the early phase of the recent global financial crisis in Eastern Europe and Central Asia, a region that was especially hard hit. ... See More +

Policy Research Working Paper WPS6050 APR 01, 2012

Clarke, George R.G.; Kisunko, Gregory; Cull, Robert

Job growth and finance : are some financial institutions better suited to early stages of development than others? (English)

This paper combines firm-level data from 89 countries with updated country-level data on financial structure, and uses two estimation approaches. ... See More +

Policy Research Working Paper WPS5880 NOV 01, 2011

Xu, L. Colin; Cull, Robert

Related lending and banking development (English)

Does related lending have positive or negative effects on the development of banking systems? This paper analyzes a unique cross-country data set covering 74 countries from 1990 to 2007, and finds that related lending, on average, does not have any effect on the growth of credit. ... See More +

Policy Research Working Paper WPS5570 FEB 01, 2011

Haber, Stephen; Imai, Masami; Cull, Robert

Banking sector stability, efficiency, and outreach in Kenya (English)

Although Kenya's financial system is by far the largest and most developed in East Africa and its stability has improved significantly over the past years, many challenges remain. ... See More +

Policy Research Working Paper WPS5442 OCT 01, 2010

Getenga, Jared; Trandafir, Mircea; Beck, Thorsten; Fuchs, Michael; Randa, John; Cull, Robert; Gatere, Peter

Foreign bank participation in developing countries : what do we know about the drivers and consequences of this phenomenon? (English)

Foreign bank participation has increased steadily across developing countries since the mid-1990s. This paper documents this trend and surveys the existing literature to explore the drivers and consequences of this phenomenon, paying particular attention to the differences observed across regions both in the degree of foreign bank participation and in the impact of this process. ... See More +

Policy Research Working Paper WPS5398 AUG 01, 2010

Cull, Robert; Martinez Peria, Maria Soledad

The World Bank economic review 24 (2) (English)

This issue includes the following: Corporate governance at the World Bank and the dilemma of global governance, by Ashwin Kaja and Eric Werker. ... See More +

Publication 73275 JUN 01, 2010

Braun, Matias; Cuaresma, Jesus Crespo; Cull, Robert; Hertel, Thomas W.; Jesse, Cornelia; Kaja, Ashwin; Lassibille, Gerard; Leister, Amanda M.; Martin, Will; Nguyen, Trang Van; Raddatz, Claudio; Scott, Kinnon; Tan, Jee-Peng; Werker, Eric

Measuring household usage of financial services : does it matter how or whom you ask? (English)

In recent years, the number of surveys on access to and use of financial services has multiplied, but little is known about whether the data generated are comparable across countries or within the same country over time. ... See More +

Journal Article 77640 JUN 01, 2010

Cull, Robert; Scott, Kinnon

Banks and microbanks (English)

Using two new datasets, the authors examine whether the presence of banks affects the profitability and outreach of microfinance institutions. ... See More +

Policy Research Working Paper WPS5078 OCT 01, 2009

Morduch, Jonathan; Cull, Robert; Demirguc-Kunt, Asli

Title Document Date Report No. Document Type Also available in
SME finance in Africa (English)
See More +
SEP 01, 2014 WPS7018 Policy Research Working Paper
The African financial development and financial inclusion gaps (English)
See More +
SEP 01, 2014 WPS7019 Policy Research Working Paper
Benchmarking the financial performance, growth, and outreach of greenfield microfinance institutions in Sub-Saharan Africa (English)
See More +
SEP 01, 2014 WPS7029 Policy Research Working Paper
Financial inclusion and development : recent impact evidence (English)
See More +
APR 01, 2014 88169 Brief
Market facilitation by local government and firm efficiency : evidence from China (English)
See More +
NOV 01, 2013 WPS6688 Policy Research Working Paper
Banking in Africa (English)
See More +
OCT 01, 2013 WPS6684 Policy Research Working Paper
Resolving the African financial development gap : cross-country comparisons and a within-country study of Kenya (English)
See More +
SEP 01, 2013 WPS6592 Policy Research Working Paper
Improving access to banking : evidence from Kenya (English)
See More +
SEP 01, 2013 WPS6593 Policy Research Working Paper
A new index of the business environment for microfinance (English)
See More +
SEP 01, 2013 WPS6625 Policy Research Working Paper
Government connections and financial constraints : evidence from a large representative sample of Chinese firms (English)
See More +
FEB 01, 2013 WPS6352 Policy Research Working Paper
Bank ownership and lending patterns during the 2008-2009 financial crisis : evidence from Latin America and Eastern Europe (English)
See More +
SEP 01, 2012 WPS6195 Policy Research Working Paper
Financial inclusion and stability : what does research show? (English)
See More +
MAY 01, 2012 71305 Brief
External finance and firm survival in the aftermath of the crisis : evidence from Eastern Europe and Central Asia (English)
See More +
APR 01, 2012 WPS6050 Policy Research Working Paper
Job growth and finance : are some financial institutions better suited to early stages of development than others? (English)
See More +
NOV 01, 2011 WPS5880 Policy Research Working Paper
Related lending and banking development (English)
See More +
FEB 01, 2011 WPS5570 Policy Research Working Paper
Banking sector stability, efficiency, and outreach in Kenya (English)
See More +
OCT 01, 2010 WPS5442 Policy Research Working Paper
Foreign bank participation in developing countries : what do we know about the drivers and consequences of this phenomenon? (English)
See More +
AUG 01, 2010 WPS5398 Policy Research Working Paper
The World Bank economic review 24 (2) (English)
See More +
JUN 01, 2010 73275 Publication
Measuring household usage of financial services : does it matter how or whom you ask? (English)
See More +
JUN 01, 2010 77640 Journal Article
Banks and microbanks (English)
See More +
OCT 01, 2009 WPS5078 Policy Research Working Paper