Introduction to microfinance:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
New Jersey ; London ; Singapore ; Beijng ; Shanghai ; Hong Kong ; Taipei ; Chennai ; Tokyo
World Scientific
[2018]
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | Includes bibliographical references and index |
| Beschreibung: | xxi, 241 Seiten Illustrationen, Diagramme |
| ISBN: | 9789813140738 9789813143005 |
Internformat
MARC
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| 245 | 1 | 0 | |a Introduction to microfinance |c Todd A. Watkins (Lehigh University, USA) |
| 264 | 1 | |a New Jersey ; London ; Singapore ; Beijng ; Shanghai ; Hong Kong ; Taipei ; Chennai ; Tokyo |b World Scientific |c [2018] | |
| 264 | 4 | |c © 2018 | |
| 300 | |a xxi, 241 Seiten |b Illustrationen, Diagramme | ||
| 336 | |b txt |2 rdacontent | ||
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| 338 | |b nc |2 rdacarrier | ||
| 500 | |a Includes bibliographical references and index | ||
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Datensatz im Suchindex
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| adam_text | CONTENTS
L ist of Co -A ntho rs v
List of Figures xiii
List of Tables xvii
List of Boxes xix
Chapter 1. An Introduction to Micro finance 1
1.1. Micro finance Begins 2
1.2. Microfinance Defined 5
■ Can the Poor Really Use Financial Services? 5
■ Microcredit: The Roots of Microfinance 8
■ Group Lending 10
■ Savings and Beyond 13
1.3. Microfinance as an Industry 18
How Big Is Micro finance and Who Uses It? 18
■ Who Provides Microfinance? 19
■ Commercialization: Does It Undermine Social
Missions? 21
■ Outreach 23
■ Key Players and Intermediaries 25
• Microfinance Institutions and Networks 25
• MFI Funders and Service Providers 28
Chapter 2. Daily Financial Lives of the Poor 35
2.1. The Portfolios of the Poor 36
■ One Poor Family s Financial Story 36
■ Meet Khadeja and Hamid 37
■ Finance without Money 40
Contents vii
■ The Need for Financial Services 43
• Ensuring Daily Consumption 44
• Emergencies and Other Big Ticket Expenses 47
2.2. Informal Mechanisms of Savings, Lending, and Insurance 52
■ Saving Up 53
■ Saving Down 54
■ Saving Through 55
■ The Demand for Microfinance 60
2.3. Patterns of Global Poverty 63
■ Where and How Poor Are the Poor? 63
■ Wealth Distribution and Income Inequality 66
Chapter 3. Barriers to Financial Services for the Poor 75
3.1. Patterns of Access to Financial Services 76
3.2. Two Worlds: Formal Finance and Informal Markets 82
■ Banking Business Models vs. the Informal Sector 82
• Dead Capital and the Informal Economy 82
• The Primacy of Flow Transactions 88
* Information Asymmetries and Agency Problems 89
• Adverse Selection 91
• Moral Hazard 94
• Limited Liability 96
3.3. Behavioral Barriers 98
■ Social and Cultural Norms 99
■ Psychological Tendencies 100
• Self-Control 101
• Mental Accounting 103
• Misestimating Risk 104
3.4. Problems of Costs and Risks 107
■ Transaction and Opportunity Costs 107
■ Last Mile Problem and Complementary Infrastructure 110
■ Challenges of On-Demand Access 111
■ Managing Risks 114
■ Subsidized Credit 116
Chapter 4. Informal Finance 125
4.1. Savings Clubs 126
■ ROSCAs: Rotating Savings and Credit Associations 127
viii Introduction to Alicrofinance
• Basic ROSCAs 128
• Other Forms of ROSCAs 130
• Motivations for Joining ROSCAs 132
■ ASCAs: Accumulated Savings and Credit Associations 135
• Non-Time-Bound ASCAs 138
• Flexibility and Issues with ASCAs 140
4.2. Savings Handlers and Credit Providers 144
■ External Managers 144
■ Deposit Collectors 146
■ Informal Moneylenders 149
■ How Much Do Moneylenders Charge and Why? 153
■ Credit under Contract 156
Chapter 5. Microlending 165
5.1. Group Lending 166
■ Group Lending Approaches 167
■ Classic “Grameen-Style” Group Lending 168
■ Solidarity Group Approach 173
■ Village Banking 174
■ Village Savings and Loan Associations 177
■ Self-Help Groups 177
5.2. Group Lending as a Tool to Overcome Market
Failures 180
■ Social Implications and Moral Hazard 180
■ Gender and Group Lending 183
■ Implications for Forming Groups 184
■ Strangers vs. Community and Friends: What
Works? 186
5.3. Limitations of Group Lending 188
■ The Inflexibility of Group Lending 188
■ Opportunity Costs 190
■ Free Riding 192
■ Joint Liability s Double Edge 192
■ Collusion Risk 196
5.4. Individual Lending 198
■ Individual vs. Group Lending from the MFIs
Perspective 199
Contents ix
■ Individual vs. Group Lending from the Clients
Perspective 204
■ Graduation 205
Chapter 6. Beyond Microcredit 211
6.1. The Emerging Array of Microfinance Services 212
6.2. Microsavings 214
■ Why Do the Poor Need to Save? 214
■ Types of Microsavings Services 215
• Compulsory Savings 215
• Voluntary Savings 217
• Commitment Savings 221
■ The Benefits of Savings Mobilization 223
• Benefits to the Individual 224
• Benefits for the MFI 226
■ External Challenges to Savings Mobilization 227
6.3. Microinsurance 233
* Why Microinsurance? 233
■ How Widespread Is Microinsurance? 235
■ Who Provides Microinsurance? 238
■ Potential Market Failures and Micro insurance 239
• Adverse Selection 240
• Moral Hazard and Limited Liability 240
• Fraud 241
• Covariate Risk 241
• Technical Challenges in Microinsurance 242
* Loan Protection Insurance 243
■ Life Microinsurance 244
■ Savings-Linked Microinsurance 245
■ Health Microinsurance 249
• What s Covered? Balancing Costs and Demand 250
• Adverse Selection and Health Insurance 253
• Why Isn’t Health Microinsurance More
Widespread? 254
■ Agricultural Index Microinsurance 255
x Introduction to Microfinance
Chapter 7. Gender Issues in Microfinance 263
7.1. The Focus on Women 264
■ Regional Patterns 265
■ Commercialization and Gender 266
7.2. Why the Focus on Women? The Demand Side 271
■ Why Might Women Demand Microfinance More
Than Men? 271
* Wage Gaps and Informal Economy Financial Patterns 273
7.3. The Supply Side: Why Do MFIs Prefer Women? 277
■ Are Women Better for Business? 277
■ The Family Impact Motive 281
■ The Empowerment Motive 285
■ Might Microfinance Dis-empower Women? 292
Chapter 8. The Evolution of Commercial Microfinance 305
8.1. Profitability, Transformation and Scale 307
■ Demonstrating MFI Profitability 307
■ Transformation of Non-Profits into Regulated Banks 311
■ The Distortion Potential of Subsidies 314
■ Achieving Scale and Mass Outreach 314
■ Efficiency and Pricing Incentives in Competitive Markets 319
■ How Much Does Microcredit Cost? 321
8.2. The Ecosystem of Intermediaries 327
■ International Financial Institutions and Investment Funds 327
■ Information Providers and Other Professional Services 333
8.3. Accessing International Capital Markets 336
■ Public Equity 337
■ Commercial Debt 342
8.4. The Social Mission Debate 348
Chapter 9. Measuring the Impact of Microfinance 365
9.1. Challenges to Measuring Impact—Part I 369
■ Correlation vs. Causation: Whats the Difference? 370
■ Selection Bias Explains Some Correlations 371
■ Establishing the Counterfactual to Determine Causation 374
Contents xi
9.2. Methodology of Impact Assessments 378
* Model of the Causal Impact Chain 378
■ Levels of Analysis 378
■ Specification of Types of Impact to Assess 381
■ Gathering Information: Qualitative vs. Quantitative
Studies 382
■ Randomized Control Trials 383
9.3. Challenges to Measuring Impact—Part II 388
■ Tradeoff between Depth and Breadth 388
■ Problems with Mathematical Models 390
9.4. Evidence of Impact 393
■ Evidence on the Impact of Microcredit 394
• Experimental Evidence 396
• Evidence from Quasi-Experiments 400
■ Evidence on the Impact of Microsavings 404
• The Poor Want Formal Ways to Save 405
• Commitment Savings vs. Basic Savings Accounts 406
■ Microfinances Macroeconomic Effects Remain Unknown 411
References 417
Index 431
xii Introduction to Microfinance
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| spelling | Watkins, Todd A. Verfasser (DE-588)170889904 aut Introduction to microfinance Todd A. Watkins (Lehigh University, USA) New Jersey ; London ; Singapore ; Beijng ; Shanghai ; Hong Kong ; Taipei ; Chennai ; Tokyo World Scientific [2018] © 2018 xxi, 241 Seiten Illustrationen, Diagramme txt rdacontent n rdamedia nc rdacarrier Includes bibliographical references and index Microfinance Finanzdienstleistung (DE-588)4212226-0 gnd rswk-swf Mikrofinanzierung (DE-588)4835581-1 gnd rswk-swf (DE-588)4123623-3 Lehrbuch gnd-content Mikrofinanzierung (DE-588)4835581-1 s Finanzdienstleistung (DE-588)4212226-0 s b DE-604 Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030131030&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Watkins, Todd A. Introduction to microfinance Microfinance Finanzdienstleistung (DE-588)4212226-0 gnd Mikrofinanzierung (DE-588)4835581-1 gnd |
| subject_GND | (DE-588)4212226-0 (DE-588)4835581-1 (DE-588)4123623-3 |
| title | Introduction to microfinance |
| title_auth | Introduction to microfinance |
| title_exact_search | Introduction to microfinance |
| title_full | Introduction to microfinance Todd A. Watkins (Lehigh University, USA) |
| title_fullStr | Introduction to microfinance Todd A. Watkins (Lehigh University, USA) |
| title_full_unstemmed | Introduction to microfinance Todd A. Watkins (Lehigh University, USA) |
| title_short | Introduction to microfinance |
| title_sort | introduction to microfinance |
| topic | Microfinance Finanzdienstleistung (DE-588)4212226-0 gnd Mikrofinanzierung (DE-588)4835581-1 gnd |
| topic_facet | Microfinance Finanzdienstleistung Mikrofinanzierung Lehrbuch |
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