Cumming / Dong / Hou Microfinance for Entrepreneurial Development

Sustainability and Inclusion in Emerging Markets
1. Auflage 2017
ISBN: 978-3-319-62111-1
Verlag: Springer Nature Switzerland
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 235 Seiten

Reihe: Progress in Mathematics

This edited collection presents recent developments, practical innovations, and policy reforms in the realm of microfinance in emerging markets. Microfinance has been hotly debated by ever-colliding camps of ardent supporters, who believe that microfinance addresses credit market failures and provides a durable answer to the problem of the poverty, and staunch critics, who argue that lending by microfinance institutions is wasteful, and the interest rates are too high. To bring further insight into this important debate, this book presents comprehensive historical, political, and economic perspectives on the latest issues in microfinance. An impressive array of scholars and practitioners build a framework for thinking about regulation to drive sustainable, inclusive development. With case studies of programs in India, Ghana, and Bangladesh, and examinations of the effects of gender and religion on financial decision-making, this comprehensive collection offers something valuable to scholars, policymakers, and practitioners-anyone with a vested interest in promoting innovation in microfinance.

Douglas Cumming is Professor of Finance and Entrepreneurship and Ontario Research Chair at the Schulich School of Business, York University, Canada. 
Yizhe Dong is Senior Lecturer (Associate Professor) in Finance at University of Aberdeen, UK.
Wenxuan Hou is Chair of Corporate Finance at the University of Edinburgh Business School, UK.
Binayak Sen is Senior Research Fellow at the International Food Policy Research Institute (IFPRI) in Washington, DC, USA. 

Autoren/Hrsg.

Cumming, Douglas

Dong, Yizhe

Hou, Wenxuan

Sen, Binayak

Inhaltsverzeichnis

1;Contents;5
2;Editors and Contributors;7
3;List of Figures;14
4;List of Tables;15
5;Chapter 1 The End of Imagination? Understanding New Developments in Microfinance;17
5.1;1.1 The State of Promise;17
5.2;1.2 Three Basic Ideas of Microfinance;19
5.3;1.3 Evolution or Mission Drift?;21
5.4;1.4 Economic and Social Effects: Converging Evidence;22
5.5;1.5 Shifting Currents in Microfinance Research;22
5.6;1.6 Economic Effects of Microfinance;23
5.6.1;1.6.1 Profile of the MFI Borrowers;23
5.6.2;1.6.2 Long-Run Impact on Poverty and Asset Accumulation;24
5.6.3;1.6.3 Impact on Resilience Against Shocks;25
5.6.4;1.6.4 Spillovers and Network Externalities;26
5.6.5;1.6.5 Microfinance and Consumption Inequality Dynamics;26
5.7;1.7 New Features of the Microfinance Sector;27
5.8;1.8 Farm vs. Non-Farm Microcredit;28
5.9;1.9 Changes in Lending Practices;28
5.10;1.10 Repayment Pressure in Microfinance Sector;29
5.11;1.11 Blending Microfinance with Other Tools for Poverty Reduction;31
5.12;1.12 Coverage of Issues in the Present Volume;31
5.13;References;35
6;Chapter 2 The Influence of Formal and Informal Institutions on Microcredit: Financial Inclusion for Micro-Entrepreneurs by Lender Type;39
6.1;Abbreviations;39
6.2;2.1 Introduction;40
6.3;2.2 Contextual and Theoretical Background;41
6.4;2.3 Microfinance in Global Context;43
6.5;2.4 Microfinance Development in China;44
6.6;2.5 Institutional Theory: Formal Versus Informal;45
6.7;2.6 Research Methods;48
6.8;2.7 Data Analysis;52
6.9;2.8 Findings;52
6.10;2.9 Influence of Formal Institutions on Chinese Microfinance;57
6.11;2.10 Influence of Informal Institutions on Chinese Microfinance;58
6.12;2.11 Discussion;58
6.13;2.12 Formal Institutional Influences;60
6.14;2.13 Informal Institutional Influences;61
6.15;2.14 Concluding Remarks;63
6.16;References;64
7;Chapter 3 Microfinance for Entrepreneurial Development: Study of Women’s Group Enterprise Development in India;69
7.1;3.1 Background;69
7.2;3.2 Methods and Study Site;71
7.3;3.3 SKDRDP Interventions in Microfinance and Microenterprise Development;73
7.3.1;3.3.1 Shri Dharmasthala SIRI Gramodyoga Samsthe (SIRI);74
7.4;3.4 Case Study of Sample Microenterprise Units of SIRI;76
7.5;3.5 Results and Discussion;78
7.5.1;3.5.1 Socio-Economic Profile of the Sample SHG Members;78
7.5.2;3.5.2 Impact of Microfinance and Microenterprise in Improvement in Income and Employment;82
7.6;3.6 Conclusion and Policy Implications;85
7.7;Appendix;86
7.8;References;87
8;Chapter 4 Perception of Microfinance Debtors and Loan Officers on the Importance of Entrepreneurial and Business Skills for Loan Repayment Rates;88
8.1;4.1 Introduction;88
8.2;4.2 Entrepreneurial and Business Skills;90
8.3;4.3 Methods;91
8.4;4.4 Results;93
8.4.1;4.4.1 General Business Management;94
8.4.2;4.4.2 Record Keeping Skills;94
8.4.3;4.4.3 Financial Management Skills;94
8.4.4;4.4.4 Market Orientation Skills;95
8.4.5;4.4.5 Customer Relations Skills;95
8.4.6;4.4.6 Interpersonal Relation Skills;96
8.5;4.5 Conclusions and Discussion;96
8.6;References;97
9;Chapter 5 Choice of Finance in an Emerging Market: The Impact of Independent Decisions, Politics and Religion;101
9.1;5.1 Introduction;101
9.2;5.2 Data;105
9.3;5.3 Results;106
9.4;5.4 Conclusion;117
9.5;References;118
10;Chapter 6 Managing Everyday Living: Microfinance and Capability;120
10.1;6.1 Introduction;120
10.2;6.2 The Impact of NILS Loans on Financial Capability: A Qualitative Study;122
10.2.1;6.2.1 Current Debates;122
10.2.2;6.2.2 Operationalising the Capability Approach: The Concepts of Functionings, Freedoms, Capability and Agency and in the Microfinance Context;125
10.2.3;6.2.3 Methodology;126
10.2.4;6.2.4 Findings;128
10.2.5;6.2.5 Discussion;133
10.2.6;6.2.6 Conclusion and Recommendation;134
10.3;References;135
11;Chapter 7 Credit, Microfinance, and Empowerment;139
11.1;7.1 Introduction;139
11.2;7.2 Credit Market Failures;140
11.2.1;7.2.1 Identification;140
11.2.2;7.2.2 Stylised Facts;142
11.3;7.3 Innovative Features of Microcredit;142
11.4;7.4 Impact;145
11.4.1;7.4.1 Poverty, Vulnerability, and Empowerment;145
11.4.2;7.4.2 Microfinance and Money Lender Interest Rate;153
11.4.3;7.4.3 Sustainability Versus Outreach;153
11.5;7.5 Concluding Observations;157
11.6;References;161
12;Chapter 8 Microfinance Impact Assessment Methodologies: Is it Qualitative, Quantitative or Both?;165
12.1;8.1 Introduction;165
12.2;8.2 Literature Review and Research Approaches;167
12.3;8.3 Research Strategies for Microfinance Impact Assessment;169
12.4;8.4 Implication of Microfinance Research Approaches for Data Analysis;172
12.5;8.5 The Choice of Methods for Microfinance Researchers;173
12.6;8.6 Conclusion;177
12.7;References;178
13;Chapter 9 What is Islamic Microfinance?;181
13.1;9.1 Introduction;181
13.2;9.2 Evolution of Islamic Microfinance;183
13.3;9.3 Defining Islamic Microfinance;185
13.4;9.4 Characteristics of Islamic Microfinance;187
13.4.1;9.4.1 Partnership and Risk-Sharing Contract;187
13.4.2;9.4.2 Trade Based or Deferred Payment Contract;187
13.4.3;9.4.3 Rent or Leasing;188
13.4.4;9.4.4 Charity;188
13.5;9.5 Technical Differences with Conventional MFIs;189
13.6;9.6 Lending Methods of Islamic Microfinance Institutions;191
13.6.1;9.6.1 Group Lending Models;192
13.6.1.1;9.6.1.1 Amanah Ikhtiar Malaysia (AIM);193
13.6.1.2;9.6.1.2 Baitul Mal wa-Tamwil (BMT), Indonesia;193
13.6.2;9.6.2 Individual Lending Models;194
13.6.2.1;9.6.2.1 Akhuwat, Pakistan;195
13.6.2.2;9.6.2.2 Family Bank, Bahrain;196
13.7;9.7 Sources of Funding for Islamic Microfinance Institutions;196
13.7.1;9.7.1 Zakat and Charity;197
13.7.2;9.7.2 Waqf and Trust Funds;198
13.7.3;9.7.3 Social Enterprises;199
13.7.4;9.7.4 Investment Funds;199
13.7.5;9.7.5 Peer-to-Peer and Crowdfunding Model;200
13.8;9.8 The Global Presence of Islamic Microfinance;201
13.9;9.9 Conclusion;201
13.10;References;204
14;Chapter 10 Determinants of Total Factor Productivity in Microfinance Institutions: Evidence from Bangladesh;208
14.1;10.1 Introduction;208
14.2;10.2 Methodology;211
14.2.1;10.2.1 Malmquist Productivity Index (MPI);211
14.2.2;10.2.2 Selection of Inputs and Outputs to Measure MPI;212
14.2.3;10.2.3 Modelling Determinants of Total Factor Productivity (TFP);213
14.2.4;10.2.4 Data Sources;217
14.3;10.3 Empirical Findings;218
14.3.1;10.3.1 Evolution of TFP of the MFIs in Bangladesh;219
14.3.2;10.3.2 Determinants of Total Factor Productivity (TFP);220
14.4;10.4 Conclusion;226
14.5;Appendix A: Determinants of Total Factor Productivity (TFP);228
14.6;References;230
15;Index;234