PSN: Micro-Loans (Topic)最新文献

{"title":"What Influences Microfinance Lending Interest Rates in Sub-Saharan Africa?","authors":"Sydney Chikalipah","doi":"10.2139/ssrn.3670240","DOIUrl":"https://doi.org/10.2139/ssrn.3670240","url":null,"abstract":"The microfinance industry is progressing towards becoming a core of financial inclusion in sub-Saharan Africa (SSA). Despite the recent growth of microfinance in the SSA, the industry is seemingly characterised by high lending rates. Those high rates have become a hotly debated topic amongst microfinance stakeholders. It is against this background that this study estimates the factors that influence the persistently high microcredit interest rates in SSA by using a panel dataset compromising of 292 microfinance institutions drawn from 34 countries over the period 2003 to 2011. By exploiting several empirical approaches (i.e. BMA, FE and GMM estimators), our estimates reveal evidence of the following: first, the operating costs associated with providing small loans, unexploited economies of scale, and institutional deficiencies all contribute towards increasing the microcredit interest rate. Second, volatile macroeconomic fundamentals exert undesirable effects on the microcredit interest rates. Far more importantly, we draw policy recommendations from our empirical findings.","PeriodicalId":161638,"journal":{"name":"PSN: Micro-Loans (Topic)","volume":"65 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127115585","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Islamic Microfinance and Rehabilitation Model for the Slum and Floating Population by Waqf Funds, the Case of Bangladesh: A Proposal for Muslim Countries","authors":"Basharat Hossain","doi":"10.4197/islec.32-2.11","DOIUrl":"https://doi.org/10.4197/islec.32-2.11","url":null,"abstract":"This paper designs a conceptual model of Islamic microfinance and\u0000rehabilitation by using the waqf funds for the slum and floating population. It analyzes\u0000both the primary and the secondary data on the current status of Islamic microfinance\u0000coverage (in thirteen countries), waqf estates (in seven countries), and the slum and\u0000floating population in thirty five Muslim countries of the world. The primary data was\u0000accumulated on 150 microfinance borrowers and 100 non-borrowers of Bangladesh.\u0000This paper presents a multifunctional structure of an autonomous waqf management\u0000institution to execute the model of this paper. This institution will be formed by the\u0000joint venture of the government, the national, as well as international Islamic agencies.\u0000Furthermore, this model will be implemented through five stages, the revival and\u0000registration of the waqf estate, accumulation of funds, initiating the Islamic\u0000microfinance and rehabilitation for the slum population, and finally, forward linkage\u0000that may help the slum people to contribute to the society.","PeriodicalId":161638,"journal":{"name":"PSN: Micro-Loans (Topic)","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-07-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131453685","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Micro-Equity for Microenterprises","authors":"Suresh de Mel, D. McKenzie, C. Woodruff","doi":"10.1596/1813-9450-8799","DOIUrl":"https://doi.org/10.1596/1813-9450-8799","url":null,"abstract":"Many microenterprises in developing countries have high returns to capital, but also face risky revenue streams. In principle, equity offers several advantages over debt when financing investments of this nature, but the use of equity in practice has been largely limited to investments in much larger firms. The authors develop a model contract to make self-liquidating, quasi-equity investments in microenterprises. This contract has three key parameters that can be used to shift risk between the entrepreneur and the investor, resulting in a continuum of contracts ranging from a debt-like contract that shifts little risk from the entrepreneur to a pure revenue-sharing contract in which the investor absorbs much more of the risk. The paper discusses implementation choices, and then provides lessons from a proof-of-concept carried out by an investment partner, KGC Equity, which made nine investments averaging $3,800 in Sri Lankan microenterprises. This pilot demonstrates that this new contract structure can work in practice, but also highlights the difficulties of micro-equity investments in an environment with weak contract enforcement.","PeriodicalId":161638,"journal":{"name":"PSN: Micro-Loans (Topic)","volume":"137 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133782210","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Role of Credit Rating Agencies in Addressing Gaps in Micro and Small Enterprise Financing: The Case of India","authors":"S. Shankar","doi":"10.2139/ssrn.3398228","DOIUrl":"https://doi.org/10.2139/ssrn.3398228","url":null,"abstract":"We describe the common financing challenges faced by micro, small, and medium-sized enterprises (MSMEs) in India and some important measures taken to address them, with a focus on the credit rating scheme implemented in 2000. We examine the usefulness as well as the limitations of the scheme, drawing on interviews with rating agencies and MSMEs. With credit rating being an expensive exercise, the availability of government subsidies under the scheme has been an important factor in encouraging MSMEs to get themselves rated, thereby reducing information asymmetry with banks and enabling access to credit. Given the large number of unbanked MSMEs in the country, leveraging the data generated by MSME lending and credit rating in the country through the creation of a credit risk database is necessary. Lenders will then be able to tap into the collective data generated to make more informed credit decisions with regard to MSMEs without relying on subsidies. Over 63 million micro, small, and medium-sized enterprises in India generate lending and credit rating data. How can lenders leverage these to make informed credit decisions?","PeriodicalId":161638,"journal":{"name":"PSN: Micro-Loans (Topic)","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129917731","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Paradoxical Case Against Interest Rate Caps for Microfinance – And: How FinTech and RegTech Resolve the Dilemma","authors":"D. Zetzsche, Tsany Ratna Dewi","doi":"10.2139/ssrn.3159202","DOIUrl":"https://doi.org/10.2139/ssrn.3159202","url":null,"abstract":"Since 2010 approximately 40 developing countries and transitional economies imposed interest rate caps. This article analyses the impact of these interest rate caps on microfinance institutions. Introducing the taxonomy of soft, mezzo and hard interest rate caps we take a stance against hard interest rate caps arguing that the downsides of such hard caps outweight the benefits. \u0000Our article is structured as follows: In Pt. II we show that regulatory materials published in the context of cap implementation reveals four justifications for imposing interest rate caps, including consumer and client protection, fraud prevention and exploitation by deceptive credit providers, support for a particular strategic industry or sector, and combating anti-competitive behavior where the costs of credit exceed the actual cost of lending plus a reasonable profit margin. \u0000In Pt. III. to V. we argue that these arguments do not justify the imposition of hard interest rate caps: In Pt. III. we challenge each of the four arguments, arguing that hard interest rate caps, as one-size-fits-all solutions are too blunt an instrument to distinguish between the different service levels and industry environments in which microfinance institutions operate. In Pt IV. we outline that hard interest rate caps prompt two unwanted consequences instead: increasing the importance of the informal credit sector, and furthering the microfinance institution's mission drift. In Pt. V. we also show that the comparison with Northern low-interest economies is flawed. \u0000Drawing on financial and regulatory technologies we develop alternative solutions in Part VI. First, the most adequate way to reduce too high interest rates is furthering competition among all institutions that could provide credit. Rather than distinguishing between regulated banks, microfinance institutions and mobile money and lending providers all of these three groups constitute the respective credit market, and competition between the three branches of credit markets is, in principle, desirable, if the policy objective is competition on the merits. This requires the development of well function credit registers, disclosure of effective interest rates and the facilitation of digital financial services. \u0000Pt. VII. concludes.","PeriodicalId":161638,"journal":{"name":"PSN: Micro-Loans (Topic)","volume":"73 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-04-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115146795","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Microfinance Services Nexus Urban Youth Empowerment: The Case of South West Oromia Region Ethiopia","authors":"D. Gelan","doi":"10.2139/ssrn.3103642","DOIUrl":"https://doi.org/10.2139/ssrn.3103642","url":null,"abstract":"This study was conducted to assess the empowerment of youth micro finance beneficiaries; and to examine factors affecting youth empowerment through micro finance in the study area. A survey was conducted including 130 sampled respondents supplemented by information gathered through key informant interviews (KIIs), focus group discussions (FGDs). Data were analyzed through empowerment index, ordered logit model and descriptive statistics. The findings indicated in aggregate term, youth participation in micro finance program has resulted in increased empowerment index. Moreover, the result of ordered logit model analysis showed that, sex, educational status, social participation, size of business, kind of business, achievement motivation and self -esteem were found to be determinants of youth empowerment.","PeriodicalId":161638,"journal":{"name":"PSN: Micro-Loans (Topic)","volume":"157 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-01-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116585341","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Role of Microfinance Institutions on the Promotion of Women Entrepreneurship in Uganda","authors":"Mukoki James, Namuyanja Jane","doi":"10.2139/ssrn.3176583","DOIUrl":"https://doi.org/10.2139/ssrn.3176583","url":null,"abstract":"The presence of microfinance services for the poor have grown immensely since its beginning in the 1970s and it has become one of the most popular sought after poverty reducing strategies in the world. This study utilized cross-sectional study design and data was collected using a wellstructured close ended questionnaires from fifty (50) female clients of pride microfinance limited in Rubaga division in the capital Kampala. The questions were structured in English but administered in a local language (Luganda) to be specific. Both quantitative and qualitative data analysis techniques were employed. Finding indicated that majority of the bank clients had obtained loans and a sizeable number had also benefited from the training that pride microfinance provided to its clients such as book keeping, marketing, credit management and customer care services. By offering these services, Pride Microfinance helped to empower women economically by enabling them to transfer money, make payments, save money and get capital for running their businesses which are necessary requirements for entrepreneurship development. Clearly microfinance institutions (MFIs) have an enormous role to play in the economic empowerment of the women. The findings indicated that less education, inadequate training of borrowers resulted in default in loan repayment. The policy message here is that microfinance institutions should have simplified systems of operation that reduce delays, provide efficient and effective service delivery that are accessible and preferred by the women.","PeriodicalId":161638,"journal":{"name":"PSN: Micro-Loans (Topic)","volume":"321 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124541608","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Indebtedness and Financial Inclusion: The Alarming Outcome of Commercial Microfinance in India","authors":"Debidutta Pattnaik","doi":"10.2139/ssrn.3009202","DOIUrl":"https://doi.org/10.2139/ssrn.3009202","url":null,"abstract":"Debt may be good but not the state of indebtedness! It has both qualitative and quantitative implications. Propensity to debt, especially “indebtedness” is a matter of concern. Impact of indebtedness varies both in degrees and dimensions. The state of being in debt (indebtedness) covers both personal and behavioural finance and is blended with positive and negative outcomes. On the positive side, people with easy access to debt have higher chances for financial wellness, provided the money is used for productive gain. The negative outcomes are desertion, distress and depression of the indebted consumers. Many a times, such incidence results in forced migration as observed in the cases of absconding. The extreme end of indebtedness leads to suicidal tendencies often culminating at self-killing! Such unpleasant incident potentially affect the present as well the future of a person. Sometimes the shock of indebtedness cascade down to a couple of generations. Therefore, provision of debt must be preceded by sound financial education, especially among the poor and ignorant consumers. Credit service providers to the poor cannot simply rely on “disclaimers”. They have to go the extra mile in ensuring that, all their clientele have sufficient financial education and are therefore capable of making matured and informed decisions. However, in the present context, the Industry looks widely commercialized, and therefore, such amenable services is a distant reality though not an impossible dream!","PeriodicalId":161638,"journal":{"name":"PSN: Micro-Loans (Topic)","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126953467","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Labor Market Effects of Improved Access to Credit Among the Poor: Evidence from Cape Verde","authors":"P. Casini, O. Riera, Paulo Santos Monteiro","doi":"10.2139/ssrn.2562844","DOIUrl":"https://doi.org/10.2139/ssrn.2562844","url":null,"abstract":"In the context of a collective household choice model, we show that the effects of improved credit access on search intensity by the unemployed are heterogeneous across households and dependent on the within-household bargaining power of the unemployed. We find empirical support for the predictions of our model using a household survey conducted by the authors in Cape Verde. These findings have important implications for the optimal design of microfinance programs, in particular concerning the targeting of loans and the use of microfinance as an instrument to support improved labor market outcomes.","PeriodicalId":161638,"journal":{"name":"PSN: Micro-Loans (Topic)","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-12-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132348475","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Financing Smallholder Agriculture: An Experiment with Agent-Intermediated Microloans in India","authors":"Pushkar Maitra, Sandip Mitra, Dilip Mookherjee, Alberto Motta, Sujata Visaria","doi":"10.2139/ssrn.2607790","DOIUrl":"https://doi.org/10.2139/ssrn.2607790","url":null,"abstract":"Recent evaluations of traditional microloans have not found significant impacts on borrower production or incomes. We examine whether this can be remedied by delegating selection of borrowers for individual liability loans to local trader-lender agents incentivized by repayment-based commissions. In a field experiment in West Bengal this design (called TRAIL) was offered in randomly selected villages. In remaining villages five-member groups self-formed and applied for joint liability loans (called GBL) with otherwise similar terms. TRAIL loans increased production of potato (a leading cash crop) and farm incomes by 27-37%, whereas GBL loans had insignificant and highly dispersed effects. Both schemes achieved equally high repayment rates, while TRAIL loans had higher take-up rates and lower administrative costs. We argue the results can be partly explained by differences in selection patterns with respect to borrower risk and productivity characteristics.","PeriodicalId":161638,"journal":{"name":"PSN: Micro-Loans (Topic)","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115245646","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}