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Enforcing Repayment in Lending without Collateral: An Empirical Survey on Group Lending Microfinance
ASM Rejaul Hassan Karim Bakshi
Pakistan Journal of Social Sciences , 2012,
Abstract: In this study, we are exploring factors affecting repayment in group lending microfinance. Theoretically, it is generally claimed that join liability obligation in group lending enforces repayment. Though our empirical survey find that joint liability creates peer pressure and peer monitoring and very often helps ensuring repayment, it is not free from weakness and is not necessary at all lending the poor. We see that dynamic loan incentive can ensure repayment even in absence of joint liability. We also find other factors that affect repayment. The study thus, shows that joint liability is neither necessary nor sufficient in enforcing repayment rather there are scores of innovations in group lending microfinance, like dynamic and progressive lending that help MFIs to boost up repayment.
Repayment Flexibility Can Reduce Financial Stress: A Randomized Control Trial with Microfinance Clients in India  [PDF]
Erica Field, Rohini Pande, John Papp, Y. Jeanette Park
PLOS ONE , 2012, DOI: 10.1371/journal.pone.0045679
Abstract: Financial stress is widely believed to cause health problems. However, policies seeking to relieve financial stress by limiting debt levels of poor households may directly worsen their economic well-being. We evaluate an alternative policy – increasing the repayment flexibility of debt contracts. A field experiment randomly assigned microfinance clients to a monthly or a traditional weekly installment schedule (N = 200). We used cell phones to gather survey data on income, expenditure, and financial stress every 48 hours over seven weeks. Clients repaying monthly were 51 percent less likely to report feeling “worried, tense, or anxious” about repaying, were 54 percent more likely to report feeling confident about repaying, and reported spending less time thinking about their loan compared to weekly clients. Monthly clients also reported higher business investment and income, suggesting that the flexibility encouraged them to invest their loans more profitably, which ultimately reduced financial stress.
Microfinance  [PDF]
Ranjana M.Chavan
Golden Research Thoughts , 2013, DOI: 10.9780/22315063
Abstract: Microfinance sector has grown rapidly over the past few decades. Nobel Laureate Muhammad Yunus is credited with laying the foundation of the modern MFIs with establishment of Grameen Bank, Bangladesh in 1976. Today it has evolved into a vibrant industry exhibiting a variety of business models. The microfinance sector is having a healthy growth rate, there have been a number of concerns related to the sector, like grey areas in regulation, transparent pricing, low financial literacy etc. In addition to these concerns there are a few emerging concerns like cluster formation, insufficient funds, multiple lending and over-indebtedness which are arising because of the increasing competition among the MFIs.
‘Expanding your mind’: the process of constructing gender-equitable masculinities in young Nicaraguan men participating in reproductive health or gender training programs  [cached]
Virgilio Mariano Salazar Torres,Isabel Goicolea,Kerstin Edin,Ann ?hman
Global Health Action , 2012, DOI: 10.3402/gha.v5i0.17262
Abstract: Background: Traditional forms of masculinity strongly influence men's and women's wellbeing. Objective: This study has two aims: (i) to explore notions of various forms of masculinities in young Nicaraguan men participating in programs addressing sexual health, reproductive health, and/or gender equality and (ii) to find out how these young men perceive their involvement in actions aimed at reducing violence against women (VAW). Design: A qualitative grounded theory study. Data were collected through six focus groups and two in-depth interviews with altogether 62 young men. Results: Our analysis showed that the informants experienced a process of change, labeled ‘Expanding your mind’, in which we identified four interrelated subcategories: The apprentice, The responsible/respectful man, The proactive peer educator, and ‘The feminist man’. The process showed how an increased awareness of gender inequities facilitated the emergence of values (respect and responsibility) and behavior (thoughtful action) that contributed to increase the informant's critical thinking and agency at individual, social, and political levels. The process was influenced by individual and external factors. Conclusions: Multiple progressive masculinities can emerge from programs challenging patriarchy in this Latin American setting. The masculinities identified in this study show a range of attitudes and behaviors; however, all lean toward more equitable gender relations. The results suggest that learning about sexual and reproductive health does not directly imply developing more gender-equitable attitudes and behaviors or a greater willingness to prevent VAW. It is paramount that interventions to challenge machismo in this setting continue and are expanded to reach more young men.
Assessing Microfinance: The Bosnia and Herzegovina Case  [PDF]
AnneWelle-Strand,Kristian Kjollesdal,Nick Sitter
Managing Global Transitions , 2010,
Abstract: Microfinance is often hailed both as a tool for fighting poverty and as atool for post-conflict reconciliation. This paper explores the use of microfinancein post-civil war Bosnia and Herzegovina, assessing its resultsin terms of both goals. As it combined high unemployment witha highly educated population in an institutionally open context, Bosniaand Herzegovina provides a crucial test of the effect of microfinance. Ifunambiguous signs of success cannot be found in a case with such favorableconditions, this would raise serious questions about the potentialbenefits of microfinance. The paper draws together evidence froma series of independent reviews of microfinance in Bosnia and Herzegovina,to assess its impact in terms of economic performance, theeconomic system, social welfare and post-conflict integration. Basedon this case study, microfinance appears a better tool for dealing withpoverty than with social integration or institution building.
From No Collateral No Loan to No Collateral No Default : The Economics of Group Lending Microfinance
ASM Rejaul Hassan Karim Bakshi
The Social Sciences , 2013,
Abstract: In this study, we are exploring the economic mechanism that makes group lending microfinance working to extend loan to the poor without collateral while ensuring repayment. In group lending microfinance, MFIs are lending the poor without collateral and the borrowers who pledge no collateral repay loans whenever they are able to. The point is interesting from the fact that if the borrower defaults, she would have to loss almost nothing since, there is no collateral. The reality is, however, that MFIs extend loans without collateral and are rewarded with higher repayment rates. Having no-pledgeable assets by the poor neither prevents MFIs to extend loans nor does it leads borrowers to simply default. This study aims at exploring the economic mechanism through which group lending works. We see that joint liability group lending promotes peer monitoring, eliminates shirking in the group and ensures effort from the borrowers which in turn promotes repayment. We also, find that if loans are associated with dynamic or progressive lending, that is, if successful repayments are rewarded by a larger new loans, we do not need joint liability obligation to ensure repayment. Group lending microfinance with or without joint liability, we thus see, has certain mechanism that leads to assortative matching of borrowers, reduces effective interest rate, leads to peer monitoring and finally enforces repayment as long as borrowers are able to.
Microfinance and Inequality  [cached]
Hisako Kai,Shigeyuki Hamori
Research in Applied Economics , 2009, DOI: 10.5296/rae.v1i1.304
Abstract: The paper examines the relationship between microfinance and inequality by providing a cross-country empirical study of 61 developing countries. We show that microfinance plays an important role in creating a financial system endowed with the equalizing effect. Thus far, only a few single-country analyses of the impact of microfinance on inequality have been performed. To the best of our knowledge, our study is the first to indicate the universality of the equalizing effect of microfinance by applying the cross-country methodology. We find that microfinance can lower inequality and that poorer countries need to focus more on the equalizing effects of microfinance.
Impact of Microfinance: Towards Achieving Poverty Alleviation?
Bentul Mawa
Pakistan Journal of Social Sciences , 2012,
Abstract: Poverty is a threat to peace and results in denial of all human rights. Microfinance spread across the globe as a means to alleviate poverty in the early seventies, invented by Bangladeshi Economist Professor Muhammad Yunus. Despite its significant contribution to help the poor worldwide, the impact of microfinance in alleviating poverty is always in question. To evaluate this prevailing issue, this study explores the linkage between microfinance and poverty alleviation and also examines the impact of microfinance on poverty alleviation. Drawing on an empirical case study, this study examines how far microfinance institution plays important role in alleviating poverty in Bangladesh. Though there are some problems regarding its operation, based on our research findings, the study concludes that microfinance can make meaningful contribution to alleviate poverty for rural people. The study also suggests that this organization needs to look more seriously at the diversified needs of the poor people and target the extremely poor.
The Malaysian microfinance system and a comparison with the Grameen Bank (Bangladesh) and Bank Perkreditan Rakyat (BPR-Indonesia)  [cached]
Suraya Hanim Mokhtar,Gilbert Nartea,Christopher Gan
Journal of Arts and Humanities , 2013,
Abstract: Microfinance programme in Malaysia has been implemented since 1987 as one of the poverty eradication strategies in the country. There are three large microfinance institutions in Malaysia namely AIM, YUM and TEKUN that targeted to different groups of people. Each of the microfinance institution has its own lending systems and has been subsidised by the government since their existence. This paper compares the Malaysian subsidised microfinance institutions’ lending systems with the unsubsidised microfinance institutions such as the Grameen Bank in Bangladesh and People’s Bank (Bank Perkreditan Rakyat/BPR) in Indonesia. This study found the Grameen Bank and BPR have more variety of microfinance services and flexible lending systems compared with Malaysian microfinance institutions.
An Analysis of Microfinance and Poverty Reduction in Bayelsa State of Nigeria
Appah Ebimobowei,John M. Sophia
Journal of Economics Theory , 2012, DOI: 10.3923/jeth.2012.107.115
Abstract: This study investigates the relationship between microfinance and poverty reduction in Bayelsa State of Nigeria. Relevant literatures were reviewed for the study. To guide the study, four hypotheses were developed. They were used to measure the main variables of the study. The target population for this study was all women involved in small scale business in Bayelsa State, Nigeria. A sample of 286 respondents was purposively selected for the study. The instrument for the study was a questionnaire titled microfinance and poverty reduction. To analyse the data generated, the Chi-sqaure, ANOVA and descriptive statistics were used. The analysis of the data revealed that there is a significant relationship between microfinance and poverty reduction in Bayelsa State, there is a significant difference between microfinance and traditional rotating system there is significant difference between loan repayment by the women and poverty reduction in Bayelsa State and significant difference between microfinance and the status of women in Bayelsa State, Nigeria. The conclusion drawn from this study, therefore, was that microfinance alone cannot reduce poverty in any society where basic infrastructures like good roads, steady power supply, good transportation system, etc., are nearly not available for the women to benefits from the introduction of microfinance in Nigeria. The study, therefore, recommends among others that the governments in developing economies like Nigeria should as a matter of national priority provide the basic infrastructural facilities to enable small business owners grow; the National Poverty Alleviation Programme (NAPEP) should be well strengthened to reduce the level of political manipulation by political leaders in the country and a reduction in the interest rate for microfinance institutions and other stringent issues about microfinance model of poverty reduction should be adequately and seriously applied to minimize the level of poverty in Nigeria.
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