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This paper uses lines of argument drawn from Amartya Sen's Idea of Justice to support the notion that NGO efforts, far from being oppressive, are helpful and progressive. It cites the work of Lairap‐Fonderson and Chen, and alludes to specific projects. Contrast is made with Rawls, and the paper suggests that more formal theories of justice may not enable us to grapple with our intuitive sense that justice for the poverty stricken involves, at a minimum, both financial progress and forward movement with respect to internal growth. Examples of work done by NGOs in Bangladesh and other places help us to realize that women in these areas often have their own sense of what a more just situation would require—and NGOs and others can work from these conceptions as a point of departure. Part of the conclusion here is that Sen's concept of the just is a step in the right direction. [ABSTRACT FROM AUTHOR]

This paper analyzes the effects of informal finance on formal finance in West African Economic and Monetary Union (WAEMU) countries. To this end, it uses a Probit model with a binary endogenous regressor and data from the Global Findex database, 2021. The findings indicate that having already saved informally positively affects the behavior of individuals to save formally. They also indicate that informal financial credit positively affects formal financial credits in the WAEMU. These findings indicate that formal finance is complementary to informal finance in the WAEMU. On the other hand, the findings show that labour force participation, mobile banking use and online banking use increase the likelihood of use of formal and informal services in the WAEMU. This paper suggests that formal financial institutions (mainly banks and microfinance institutions) should strengthen their collaboration with actors (money keepers, itinerant bankers, tontines systems) involved in the provision of informal financial services to populations in order to improve formal financial intermediation in the WAEMU. [ABSTRACT FROM AUTHOR]

Increasing forcibly displaced populations worldwide are adversely affecting the poorest host communities' livelihoods. Livelihood programmes can reduce this tension by addressing host communities' skills and capital constraints. In this paper, we examine the effect of a customised version of BRAC's Ultra‐Poor Graduation (UPG) programme on the livelihoods of the host communities of Rohingya refugees. We find that the programme increases labour supply in self‐employment of working‐age men and women, household income, food expenditure and productive asset. Further, we find some weak evidence that the programme decreases the tension between hosts and Rohingya refugees. [ABSTRACT FROM AUTHOR]

Via a multiple case study of work in microfinance institutions in India, this paper reports on the experiences of field officers and branch managers following work digitalisation. It identifies and explains an intriguing post‐digitalisation paradox of reported increased job satisfaction and tighter technological control diminishing branch managers' work‐life balance. The paradox draws attention to the significance of context in workers' experiences of mobile digital technologies (MDTs) and contradicts previous studies on workers' positive experiences of adopting MDTs: the workers in this study did not experience greater autonomy or flexibility but reported enhanced employment security and status. The paper also adds to literature on employment relations following work digitalisation by revealing powerful enforcement of technological control, with 'WhatsApp' identified as a key managerial tool used for surveillance and discipline, and worker resistance at the margins. [ABSTRACT FROM AUTHOR]

This paper examines the progress of the social service professions delivering developmental social welfare in South Africa, a subject we have followed closely over the last 20 years. Being policy‐driven, developmental social welfare stemmed from expert social analyses that resulted in technically oriented solutions, including the broadening of social service professions. Twenty years on, it is hard to see developmental social welfare, as envisaged in government policy, in action, since the practice reality does not differ drastically from the prior apartheid system with the government's heavy reliance on social security as a poverty‐alleviation measure. The expanded social security budget has led to underfunded services and a crisis for social service professionals. This paper focuses on the regulated professions of social workers, and child and youth care workers. Our examination of critical issues for these occupational groups revealed that South Africa still has a long way to go in building a strong social service workforce. [ABSTRACT FROM AUTHOR]

This paper examines the strengths and challenges of the Egyptian microfinance laws and regulations that protect impoverished women from overindebtedness. The focus of the analysis is on the regulation of microfinance in the nonbanking sector, that is, microfinance primarily provided by non‐governmental organizations. Although a number of significant laws and regulations have been enacted that provide some protection from overindebtedness, it was found that these protections do not extend far enough, and some critical protections are absent. This leaves the most impoverished Egyptian women using microfinance, vulnerable to overindebtedness. [ABSTRACT FROM AUTHOR]

Overlapping borrowing – i.e., the practice of taking new loans before old loans have been fully repaid – has become an important phenomenon in the microcredit sector in many developing countries, including Bangladesh. This paper examines the rationale for overlapping and investigates its short‐term and long‐term consequences by using a panel data set that is representative of Bangladesh as a whole. The study finds that it is useful to distinguish between two broad groups of overlapping borrowers who differ in terms of both the rationale of overlapping and its consequences. The first group – consisting of more than half of all overlapping borrowers – uses it as a promotional strategy, to improve their economic conditions without incurring a sharp discrete jump in debt burden. The other group uses it as a coping strategy, to deal with contingencies that compel them to take loans of a non‐productive nature, again by avoiding a sharp discrete jump in the debt burden. Econometric analysis, allowing for the possibility of endogeneity bias, shows that the first group is able to achieve stronger financial viability in the long run in comparison with non‐overlapping microcredit borrowers. The second group, in contrast, does not enjoy any significant improvement in their living conditions, but they are able to stave off any decline that otherwise might have befallen them in the face of shocks. Thus, both groups succeed in their respective goals, which are promotion for the first group and protection for the second. Microcredit has always had this duality of promotion and protection; overlapping borrowing serves to strengthen these functions of microcredit. [ABSTRACT FROM AUTHOR]

Drawing from 645 microfinance institutions across 56 countries, this paper examines the deposit‐borrowing dynamic of microfinance institutions' source of capital. We find that deposits and borrowings are substitutes rather than complements. We further find that the degree of substitutability is more pronounced among microfinance institutions operating in a developed financial sector where the level of information asymmetry is lower. Our findings represent novel contribution in understanding microfinance institutions' funding behaviour that supports its quest for further growth and long‐term sustainability. [ABSTRACT FROM AUTHOR]

Digital financial inclusion has become an important way to reduce poverty and prevent poverty return; however, few studies examine the relationship between digital financial inclusion measurement with poverty return governance. Based on data from the 2017 China Household Financial Survey, we construct a digital financial inclusion indicator for micro‐households, and explore its impact on the risk of households returning to poverty and its mechanisms. Our findings suggest that digital financial inclusion can reduce the risk of Chinese families returning to poverty, and that it has heterogeneous effects on families and regions with different characteristics. The main function is to improve household income level by promoting entrepreneurship and employment, and to improve risk resistance by enhancing household financial market participation and household asset allocation. Further analysis shows that digital financial inclusion has structural effects, nonlinear effects, and substitution effects with private lending in poverty governance. This paper has implications for understanding and improving the poverty governance effectiveness of digital financial inclusion. [ABSTRACT FROM AUTHOR]

This paper studies the determinants of financial performance (return on assets, ROA) of 18 Argentine Microfinance Institutions (MFIs) from 2002 to 2018. We apply the random forest algorithm to predict the ROA of the Argentine MFIs, introducing two social variables to capture the depth of the outreach such as the female ratio and the average size of the loan portfolio divided by the GDP per capita. We also consider five other main explanatory variables, such as the size, efficiency, quality of loan portfolio, solvency, and productivity ratio, as well as macroeconomic variables. Although our results indicate that the quality of the loan portfolio and efficiency are the most important variables in predicting ROA, we find that social variables are also important; in particular, the female ratio, which is the third relevant predictor of ROA. In contrast, macroeconomic variables and the financial crisis turn out to be insignificant in our analysis. [ABSTRACT FROM AUTHOR]

The current world situation leads us to consider that sustainable development needs to be a global priority to ensure the future of the planet and improve the quality of life. There is a need for sustainable finance to support this. Savings and credit cooperatives could help to achieve this impact as they serve the microfinance and microlending market. They facilitate the financial inclusion of the most vulnerable people, most of whom live in rural areas and are members of organizations, such as agricultural cooperatives and associations. Previous studies have focused exclusively on overall profitability, so this paper contributes to extending the literature by analyzing the whole population of savings and credit cooperatives in Ecuador (510 institutions), focusing on their profitability in two ways: the overall profitability necessary for the viability of the business and, in addition, the microcredit portfolio profitability, as a specific measure of its contribution to sustainability and social value creation. Another novelty is that the analysis has been carried out using several machine learning techniques for the wider generalization of the results. These show that size is the most relevant variable for predicting the ROE and that the microcredit portfolio profitability is conditioned by the credit variables. [ABSTRACT FROM AUTHOR]

Financial inclusion has received widespread attention from policymakers and researchers in recent years and is viewed in most macroeconomic studies as an engine of economic growth. By contrast, analyses at the micro‐level have largely focused on microcredit rather than microfinance and reached more ambiguous conclusions. In particular, the literature concurs on the modesty of the impact of such programmes on poverty, if any. In this paper, we examine the effect of access to microfinance rather than microcredit only, as other financial services, such as savings for instance, can be put to the same use as credit by loosening constraints on investment or helping poor households to withstand shocks. Using nationally representative micro‐data from Pakistan, we provide evidence that having geographical access to a microfinance institution raises the likelihood for an individual to move from a low‐earning occupation such as being a salaried employee, farm worker or even a housewife to a more profitable entrepreneurship status. The effect is stronger in poorer regions, even after accounting for the nonrandom opening of financial branches. We conclude that financial inclusion should be further regarded as an effective ally in the fight against poverty. [ABSTRACT FROM AUTHOR]

This paper applies exogenous shocks to investigate the impact of digital financial inclusion (DFI) on farmers' poverty vulnerability in China. We find that farmers in highly developed DFI areas are less vulnerable to the poverty trap. The result is robust to various checks, including propensity score matching and difference‐in‐differences method and the instrumental variable approach. Moreover, we find that income diversification is the possible economic channel through which DFI affects farmers' poverty vulnerability. Further analyses show that DFI has a "targeting" effect on those who are poor and vulnerable, and a synergistic effect by working with medical insurance and informal finance in terms of reducing farmers' poverty vulnerability. Our research findings provide new theoretical insights and useful guidance in enhancing financial inclusiveness and sustainable development in the post‐COVID‐19 era. [ABSTRACT FROM AUTHOR]

Poverty remains a substantial threat in rural areas of many developing countries, and solving this problem requires an in‐depth understanding of the income generating capacity that determines poverty. This paper examines the impact of agricultural commercialisation on the capability of rural households to accumulate and productively use assets and reduce structural and multidimensional poverty. A longitudinal dataset of around 2000 households with a total of 9781 observations from five rural surveys undertaken in the period 2008–2017 in Vietnam is used. Results from a fixed effects regression with an instrumental variable and a control function approach show that agricultural commercialisation has a positive effect on the accumulation of assets and reduces multidimensional and structural poverty over time. However, the effect is not homogeneous and is larger for households that are not mainly engaged in rice commercialisation. This suggests that commercialisation can be a path out of poverty, especially if policy makers move towards utilising other crops instead of rice. [ABSTRACT FROM AUTHOR]

This paper evaluates the impact of a rural community‐driven development programme in Myanmar, which promoted village‐level microfinance for income generation. Utilizing a three‐round household survey consisting of 100 treatment and 50 comparison villages with approximately 8500 households per round, we employ difference‐in‐differences and two‐stage least squares estimations. Our analysis shows three key findings. First, the programme significantly increased access to microfinance, primarily for production. Second, formal and informal finance were substituted in part with village‐level microfinance. As a result, treated households were less likely to borrow money from formal banks or informal lenders such as their relatives, friends or neighbours. Third, the village‐level microfinance nudged rural households to harvest, yield and sell their products more, which led to increase in seasonal income. Our study suggests that microfinance targeted for productive investment can significantly improve income of rural households in developing economies. [ABSTRACT FROM AUTHOR]

Joint liability aspires to improve micro‐loan performance through the support of, and pressure from, the group borrowers. This paper examines how the group composition, in terms of the mixture of kinship (Family) ties and social (Friends and Neighbours) ties among the borrowers, affects the default rates. Using binary logistics regression and three machine learning models, responses from 507 group micro‐loan borrowers from four major Moroccan cities were analysed. The results show that the stronger the family and kinship ties are within a loan group, the higher is the default rate. On the contrary, the stronger the social ties are among the group, the lower is the default rate. Other key findings include that the diversion of fund usage from investment to consumption is not found to significantly cause default. Also, loan default can be a consequence of borrowers' strategic choice rather than financial distress. As compared to the female members, male borrowers are found to be causing higher default rates. Interestingly, the gender‐related default rates are lower when more of the male borrowers are only socially related. Finally, group size is found to be positively associated with default. Our findings can help micro‐finance institutions refine their lending policies and guidance on groups' composition and size to reduce default rates. [ABSTRACT FROM AUTHOR]

Rural microfinance must contend with the triple challenges of isolation, small‐scale transactions, and risk. These challenges result in information asymmetries and transaction costs that render markets for financial services costly or missing. This paper examines how emerging digital technologies (e.g., mobile money, digital credit scoring, and earth observation) can reshape rural markets for savings, credit, and insurance services, especially in developing countries. Although our synthesis of the literature suggests reason for hope in all three domains, the imperfections of these digital technologies require evaluation and oversight if the resulting rural financial system is to be more efficient and equitable than its predecessor. JEL CLASSIFICATION: D14; F63; R51 Related Content: Digital Transformation of the Agricultural Sector: Pathways, Drivers and Policy Implications Related Content: Who drives the digital revolution in agriculture? A review of supply-side trends, players and challenges Related Content: E-commerce's fast-tracking diffusion and adaptation in developing countries [ABSTRACT FROM AUTHOR]

Microfinance institutions have made a significant progress in the last decade with elliptic growth in clients all over the world. As a financial inclusion initiative, microfinance institutions have performed well insofar as outreach to gender diverse groups is concerned. However, their role in poverty alleviation and social mobility is still not convincing albeit the incentives targeted on female borrowers. This paper aims to study the impact of microfinance initiative on enhancement of quality of life (QOL), personal empowerment and familial harmony of the female borrowers through logit probit regression model. Our results show a significant impact of microfinance on QOL enhancement of female borrowers, as well as their families, mediated by personal empowerment. This paper introduces the concept of familial harmony as an integral predictor of QOL of females in Pakistan. Our findings may be helpful in devising cointegrated policies directed upon community and gender‐based microfinance initiatives in public private partnerships. [ABSTRACT FROM AUTHOR]

The paper examines the determinants of social and financial performance of microfinance institutions using a database obtained from the MIX, consisting of 79 MFIs from the MENA region. The results reveal the existence of a possible trade‐off between profitability and outreach since MFI, oriented toward female borrowers, are likely to be less profitable than others. Another interesting finding is that non‐profit non‐governmental organizations (NGO) perform better in operational self‐sufficiency than MFIs with a different legal status. Overall, the specific institutional variables and macroeconomic factors appear to be critical determinants of the social and financial performance of MFIs. [ABSTRACT FROM AUTHOR]

Microfinance institutions (MFIs) generally aim at improving the access of the poor to financial services while at the same time being financially sustainable. But what do we know about how MFIs reach and combine these two goals? We carry out a systematic review of close to 170 papers discussing the determinants of the financial and social performance of MFIs. The review shows that the most important determinants addressed in the literature are MFI characteristics (size, age and type of organization), their funding sources, the quality of organizational governance and the MFIs' external context such as macro‐economic, institutional and political conditions. The evidence on these issues is rather mixed. Moreover, the direction of the relationship between these drivers and MFI performance depends on the context, particularly the country‐specific context. Finally, there is a lack of consensus in the literature on the measurement of financial and social performance. Due to the complexity of the concept, we argue that social performance should only be assessed by using a multidimensional perspective. This can be done either by applying recent and holistic social performance measures such as the SPI4, or at least by using a combination of proxies, such as outreach, gender and rural measures. [ABSTRACT FROM AUTHOR]

This paper explores whether the assessment of local government officials affects firm participation in targeted poverty alleviation. Using a sample of Chinese A‐share listed companies in the Midwest from 2016 to 2019, the results show that the greater the importance of officials' poverty alleviation assessment, the higher the participation of firms in precise poverty alleviation. State‐owned enterprises (SOEs) contribute more to the reduction of destitution than private enterprises. We further find that local SOEs' participation in precision poverty alleviation enhances the likelihood of executive promotion, while private enterprises' participation in precision poverty alleviation increases government subsidies and reduces the cost of debt financing. These findings imply that the evaluation mechanisms of Chinese officials can effectively promote enterprises fulfilling social responsibilities. [ABSTRACT FROM AUTHOR]

Microfinance institutions (MFIs) are hybrid organisations that strive to balance business and social goals. This paper examines the determinants of the internal audit (IA) function in MFIs, with particular emphasis on the business goals, specifically efficiency, productivity, regulation and the gross portfolio yield. We also investigate whether the establishment of an IA function is associated with MFI's focus on their social objectives relating to outreach, and women director appointments. Multivariate regression results from 1025 MFIs across 63 countries show that MFIs' focus on their social objectives is related to their propensity to establish an IA function. Thus, outreach and women director appointments are positively related to the establishment of an IA function. Similarly, in terms of the performance emphasis, the gross portfolio yield (inefficiency) increases (decreases) the likelihood of establishing an IA, but productivity and regulation have no effect. The findings suggest that MFIs' dual focus on social and business objectives impacts the establishment of internal audits. The results are robust to various measurements and estimations. [ABSTRACT FROM AUTHOR]

Based on data from the China Family Panel Survey, this paper explores the impact of agricultural commercialization on household multidimensional poverty and its mechanism. The results show that agricultural commercialization has significantly reduced household multidimensional poverty, especially poverty in health and living standard. However, it may be that the income from commercialization has not all been converted into household multidimensional welfare, making the multidimensional poverty reduction effect of commercialization smaller than the income poverty reduction effect. Further research shows that a possible channel for agricultural commercialization to reduce multidimensional poverty is to improve farmers' ability to convert their endowments into earnings and consumption. [ABSTRACT FROM AUTHOR]

In developing countries, often a major segment of the population is characterized as poor. Thus, social protection programs play a crucial role in facilitating the attainment of the Sustainable Development Goals (SDG) agenda across these nations. Among the several socioeconomic benefits associated with the social safety net programs, the impacts on female labor force participation are vital from the perspectives of enhancing women empowerment and welfare. Against this backdrop, this paper aims to evaluate the impacts of social transfers under the "allowances for the widow, deserted, and destitute women" social protection program on the rural female labor force participation responses in Bangladesh. The overall results from the probit, IV‐probit, and propensity score matching techniques provide statistical evidence regarding the cash transfers acting as a "mini‐push" to nudge greater participation of the beneficiary women in the labor force. Moreover, the cash transfers are also found to positively influence the labor force participation decisions of the other female members within the households of the program beneficiaries. Besides, the female labor force participation decisions are evidenced to be heterogeneous across the age cohorts, marital statuses, and the gender of the household head. In line with the major findings from the analyses, some key policy interventions are recommended. [ABSTRACT FROM AUTHOR]

Expanding access to solar photovoltaics (PV) may help to reduce the incidence of energy poverty. Yet, little is known about the strength and magnitude of this relationship. This paper uses cross‐sectional survey data from the Australian Bureau of Statistics to conduct a retrospective analysis of the effects of having rooftop solar PV for Australian households. As the main identification challenges are the potential for omitted variables and reverse causality, we present results for regressions controlling for potential confounders and also use an instrumental variable approach. The study finds that having solar PV is associated with a large decrease in the likelihood of experiencing energy poverty based on objective indicators that compare household incomes and energy bills. Having solar PV is also associated with a reduction in self‐reported difficulty in paying bills on time, although this effect is less robust across estimations. The findings could inform future policies for promoting residential solar PV through an improved understanding of likely impacts. [ABSTRACT FROM AUTHOR]

This paper engages with debates around microcredit, once a development success story, but now much critiqued. Arguing that microcredit can only be understood within the wider context of debt, we draw on ethnographic material from two villages in Tamil Nadu, to examine how microcredit through self‐help groups sits within a broader context of indebtedness among the rural labouring classes. We describe patterns and sources of borrowing among the poor, the ways in which debts are managed, negotiated and settled within households and the ways in which the management of debt is mediated by gender, caste, class and aspiration. The paper calls for a more nuanced understanding of debt: some debts are seen as 'good' and others as 'bad'. We explore the ways in which microcredit, channelled through self‐help groups, is—against much contemporary criticism—perceived by women borrowers in our study villages as a source of 'good debt' and praised as an enabling factor in their everyday household management as well as in aspirations for mobility and development. We also argue that microcredit can have positive impacts by enabling social investments that enhance status and reduce dependency. [ABSTRACT FROM AUTHOR]

This paper presents an arbitrage‐free valuation model for a credit risky security where credit risk coexists and interacts with an asset price bubble and liquidity risk (or liquidity costs). As an illustration, this model is applied to determine the fair rate for microfinance loans. [ABSTRACT FROM AUTHOR]

This paper explores how rural land in Cambodia has been incorporated into global networks of finance capital through the technical and political processes of turning land into a financial asset. Since the 1990s, the Cambodian government and international development institutions have issued land titles to people to formalise land ownership and increase people's access to formal credit. At the same time, Cambodia's commercial microfinance industry has rapidly grown to become one of the largest markets in the world per capita. The industry has expanded in part because microfinance institutions use land title for collateral on household loans as a method to manage the financial risk of their foreign investors and shareholders. In this paper, I draw on ethnographic research conducted with ACLEDA Bank, Cambodia's largest provider of microfinance loans, to examine how the rural land market and microfinance sector are assembled together. I argue that microfinance markets in Cambodia depend on credit officers establishing a capitalist regime of land value. To do so, credit officers engage in daily bricolage, using technologies of representation and data inscription, to create new grids of land evaluation that allow people to treat their land as a financial asset. I also argue that collateral is a kind of technology of control that reworks and respatialises household social reproduction for the benefit of financial accumulation. This paper thus contributes to our theoretical understanding of how land, labour, and finance capital are assembled together, and the political economic ramifications of such an assemblage. [ABSTRACT FROM AUTHOR]

In 2021, Bangladesh reached 97% nation‐wide electricity access. With over 4.1 million solar home systems (SHS) installed by 60 Partner Organisations (POs) providing renewable electricity to more than 22 million rural people, SHS and microfinance have been instrumental in bridging and achieving the country's universal access goal. However, a huge gap remains in achieving the country's 100% use of renewable energy by 2050, with only 3.1% of current electricity generation accounted for by renewables. While at centralised level, governmental institutions are struggling to move past the legacy mandate of grid extension to an energy transformation paradigm at decentralised levels, rural Bangladeshi villages are already leading this transformation. Today, 100 solar peer‐to‐peer microgrids, built following the swarm electrification pathway, allow end‐users to run appliances, charge vehicles, and to trade renewable electricity for income. In this paper, we describe the organisational model of the partnership between Grameen Shakti, Bangladesh's largest PO, and climate‐tech start‐up ME SOLshare, the swarm electrification implementer. We assess, using data from the peer‐to‐peer grids, their socio‐economic and environmental impact, and their contribution to the SDG 2030 Agenda. Finally, we give an outlook towards the potential of achieving sustainable energy development through a scale‐up of the swarm electrification approach, including under a scenario of 100% national grid electrification. [ABSTRACT FROM AUTHOR]

This paper contributes empirically to the international debate on the drivers for the formation of civil society organizations (CSOs) by testing three separate hypotheses: demand, supply and integration. To investigate this question, we analyse the CSO sector in Iraq, which transformed since 2003 from being implicitly banned to being a central pillar of poverty alleviation and social service provision with thousands of formally registered organizations. Using OLS regression analysis with district level and official register data, we examine the geographic distribution of CSOs in relation to poverty levels in Iraq. We find no significant confirmation for demand side drivers that social service providing CSOs form in high poverty districts. Instead, we find strong support for CSO formation in governorate administrative centres, which confirms supply‐side drivers of CSO development. However, we do find some support for a higher concentration of human rights‐based CSOs in high poverty areas. The findings raise important policy implications for the UN Sustainable Development Goal of no poverty in an Iraqi context and internationally, but also how to fund CSOs to meet the demands of the primary recipients. [ABSTRACT FROM AUTHOR]

While competition in the financial system generally mitigates small‐ and medium‐sized enterprises' (SMEs) financing constraints, this paper theorises that competition by microfinance institutions (MFIs) has adverse effects through aggravating the 'graduation problem': Small firms outgrowing microfinance struggle to find financing as conventional financial institutions abstain from downscaling and developing suitable lending instruments for smaller firms if these market segments are narrowed down by upscaling MFIs. Using data from 51 countries between 2002 and 2015, microfinance is found to significantly lower SMEs' access to credit. Credit bureaus can reverse this effect indicating that credit information infrastructure can reconcile a strong microfinance sector with functioning SME finance. [ABSTRACT FROM AUTHOR]

ABSTRACT Building successful savings and credit cooperatives (SACCOs) that actually embody the cooperative principles is a challenge to development agencies. Although SACCOs form the majority of microfinance providers in many developing countries, the most recent literature on microfinance governance and performance has given little reference to the longstanding body of relevant cooperative literature. SACCO representation in microfinance datasets is biased. Drawing on so-far unexploited datasets of Ugandan SACCOs and savings groups, this paper empirically analyses policy debate regarding SACCO- and savings group regulation. The findings point to the relevance of practically implementing the principle of 'cooperation between cooperatives' to ensure effective governance at SACCO level. Moreover, the paper introduces two new measures, based on members' savings and shares, which could become useful tools to track the application of cooperative principles in developing countries, and hence improve evidence-based policy-making for SACCOs. [ABSTRACT FROM AUTHOR]

ABSTRACT Misunderstandings about the structure of microcredit interest rates continue to generate rich criticism of the industry's high interest rates. Research has focused attention on the cost structure of interest rates and, more recently, on macroeconomic and macro-institutional factors. While the cost structure is probably the most important determinant of interest rates, other factors also matter. In addition to other important results that usually validate the empirical literature, this paper finds that microcredit interest rates respond positively to corruption. The analysis shows that there is asymmetry between the effects of corruption, depending on whether or not the MFIs are regulated. While corruption has a positive and significant impact on interest rates of unregulated MFIs, it has a negligible impact on interest rates of regulated MFIs. [ABSTRACT FROM AUTHOR]

This paper analyses the location decisions and geographical expansion of microfinance institutions (MFIs) across Peru. To this end, econometric analyses are performed on a self-constructed dataset that covers MFI presence and expansion in the 1832 districts of Peru, and this for 39 MFIs and 13 commercial banks over the period 2001-2008. The paper shows that Peruvian MFIs have expanded considerably during the last decade. MFIs especially increase access in districts with higher levels of development and therefore seem to follow principally a commercial logic. Districts with banks have also a higher probability of an MFI opening. Copyright © 2015 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

The institutional frameworks and contexts that support social enterprises and the growth of hybrid organisations in Sub-Saharan Africa require more concerted examination. Drawing upon a qualitative study, and examined through a framework of Postcolonial theory, this paper contributes to emerging discussions in this area through an investigation of the transformation of non-profit organisations (NPOs) towards the social enterprise model and exploring the impact of hybridity on the management of these organisations in Tanzania. The study suggests that NPOs mimic social enterprise 'best practices' to secure financial resources and integrate their traditional values into the social enterprise model creating tensions resulting from hybridity. Copyright © 2015 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Microfinance institutions (MFIs) contribute greatly to sustainable development through microlending. This paper establishes a bridge between political stakeholder theory, social responsive theory, and institutional theory as applied to the functioning of MFIs. By establishing a nexus between these theoretical concepts, we investigate whether country‐level socio‐economic freedom, human development, and environmental issues affect the engagement and integration of environmental, social, and governance (ESG) activities by MFIs. Using a sample of 2,064 MFIs from 94 countries for the period 2007 to 2018, we find that MFIs from countries with higher socio‐economic freedom, coupled with higher human development, may adhere to superior ESG policies. We posit that this is due to pressure from stakeholders to incorporate the triple bottom line objectives of 'profit, people, and the planet'. ESG integration is in line with institutional theory and enriched by political stakeholder theory. [ABSTRACT FROM AUTHOR]

Financing immigrant microenterprises has emerged as an important economic and social issue in Europe, yet this is an area that presents specificities only partially investigated by extant literature. Using a bank's loan dataset containing information on 669 small loans granted in Portugal between 2016 and 2019, this paper explores differences between immigrants and nationals in financing microenterprises in small loans programs. The results obtained with nonparametric statistical tests allow us to conclude that immigrants are different from their national counterparts in terms of human capital and location of business activity. However, no significant differences were found between immigrant entrepreneurs (IEs) from their national counterparts in the credit amount, sector in which businesses are created and small loan repayment. Our study contributes toward broadening the literature on the financing of IE by empirically testing the thesis that claims "discrimination against minorities" by credit institutions and explores less investigated aspects with geographic or business sector focus. Results are also useful for policymakers and support providers who often face many obstacles in designing and implementing support policies for entrepreneurial immigrants. [ABSTRACT FROM AUTHOR]

The increasing attention to social protection in urban settings is not being paired with increasing evidence. This paper offers a single ex‐ante evaluation methodology that simulates the monetary poverty effects of changing eligibility conditions, unitary benefits, and the composition of cash transfer programs aimed at expanding coverage in urban areas. We apply this methodology to Ghana, a growing, middle‐income country committed to reducing poverty but with a weak social protection system with little urban presence. We show that while a flagship cash transfer program, the Livelihood Empowerment Against Poverty program (LEAP), transfers less than GHS 34 million (US$7.6 million) a year, ending extreme poverty in Ghana would require spending around GHS 1,800 million ($400 million). Efforts to tackle urban poverty through transfers will prove unsuccessful without enough fiscal resources. [ABSTRACT FROM AUTHOR]

This paper addresses the empirical question of whether microfinance has any impact on income inequality at the macrolevel. Very little research has been conducted on the relationship between the macrolevel scale of microfinance and income inequality over time in a country and across countries. Based on panel‐data techniques, with annual data from 85 countries from 2001 to 2012 and a broad theoretical framework on microfinance and inequality, we provide empirical evidence that suggests that increases in the macrolevel scale of microcredit in a country contribute to reducing income inequality within that country over time. Finally, since microfinance may be endogenous, we used instruments from the existing literature to control for this problem. [ABSTRACT FROM AUTHOR]

In most of the methodologies used so far by microfinance institutions, negative incentives are predominant, which can contrast with these institutions' social mission. This paper investigates whether the microfinance industry could benefit from using more positive incentives. The main results of our game model are twofold. First, (positive or negative) incentives increase "on‐time" repayments. Second, the client is more likely to repay her loan with the encouragement of a bonus scheme rather than under the pressure of a sanction, regardless of the amount. This paper therefore argues for the increased use of positive incentives in the industry. [ABSTRACT FROM AUTHOR]

The paper explores the impact of financial exclusion on financial and human poverty amongst women in Pakistan. The findings suggest that persistent financial exclusion, gender discrimination and conservative religious values adversely impact women's empowerment. There is an inverse correlation between the size of microcredit and women's financial poverty, which is not the case for human poverty. Larger families experienced higher rates of poverty reduction than smaller families. The study offers evidence and supports theories on the impact of microcredit upon poverty alleviation. These findings inform policy makers, women entrepreneurs and microfinance institutions. © 2018 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

This paper shows that, in a group‐lending scheme with joint liability, a microfinance institution can achieve a Pareto improvement by promoting negative assortative matching among borrowers. The main results are: (i) borrowers may be better off in heterogeneous groups; and (ii) a heterogeneous group equilibrium is possible when individual or homogeneous group equilibria do not exist. [ABSTRACT FROM AUTHOR]

Existing evidence shows that programs that provide grants to productive assets along with training to very poor women increase labor supply, earnings, and consumption. In contrast, evidence on the effect of microcredit on these outcomes is mixed. In this paper, we examine the effect of a hybrid of the two approaches—credit and grant—on the livelihoods of the ultra‐poor in Bangladesh. A randomized evaluation of the hybrid intervention shows that it increases labor supply of working‐age women, household income, productive assets, savings, and consumption expenditures. The benefit–cost ratio of the intervention is estimated to be 8.47. [ABSTRACT FROM AUTHOR]

This paper highlights the effects of macroeconomic and macroinstitutional environments on the performance of microfinance institutions (MFIs) in the West African Economic and Monetary Union (WAEMU) countries. The quality of this relationship can help MFIs to succeed, as well as adequate policies. This analysis is conducted using panel data spanning the period 2004–2014. We find that economic performance goes hand in hand with MFIs' sustainability in WAEMU countries. By contrast, improved macroinstitutional conditions result in a decrease in MFIs financial performance. Last but not least, MFIs reach out significantly more to the poorest when countries' institutions are improving. [ABSTRACT FROM AUTHOR]

The past decade has witnessed significant growth across the globe of domestic and international initiatives designed to ameliorate both existing and potential impacts of climate change. The threat of altered environments and possibility of mass migrations of people have spurred intensive planning as well as the commitment of considerable resources to addressing such threats. Indeed, the primacy of climate change adaptation and mitigation efforts and planning has become so pronounced that one might argue that this is a new and pre-eminent form of development in the international arena. As with previous developmental preoccupations such as progress, modernity, gender, microcredit, participation and good governance, climate change adaptation and mitigation is today a central part of the development mantra. In this paper I examine the 'climate change turn' in development work by focusing on the case of Bangladesh, a country often discussed in both scholarly literature and popular discourse as one of the most vulnerable countries in the world to the possible effects of climate change. Images of rising waters, flooded fields and displaced farmers in the region have become an iconic symbol deployed during debates on climate change both locally and globally. As a result Bangladesh has emerged as a laboratory of sorts in which a series of national-level strategic plans, projects, programmes, trust funds and financing schemes are being designed and tested in partnership with international donors and development agencies, all built around the idea of climate change and resilience. Looking specifically at some of the most marginalised communities in Bangladesh - such as char dwellers and slum populations - I question in this paper what impact these efforts to combat climate change may have, in particular the possibility of being displaced not by climate change but rather by development processes meant to ameliorate its effects. [ABSTRACT FROM AUTHOR]

The paper uses two rounds of survey to examine the relative returns to micro-credit for small-scale businesses in two regions of Ghana. Propensity scores matching and the nearest neighbour matching are used to assess the return to micro-loans on retail businesses of clients and non-clients. Micro-credit impacts on sales, stock, expenses and profit for clients as compared with non-clients. Women-owned businesses produce higher returns from micro-credit than men-owned businesses. Individual and enterprise characteristics influence access to micro-credit. The paper offers policy recommendations to microfinance institutions on whom and which business activity to give credit. Copyright © 2015 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Traditional poverty accounting decomposes changes in a country's poverty headcount ratio into changes in income and inequality. We argue that this approach is unsatisfactory from the perspective of policy analysis because it compares a country in two points of time without taking the country's initial situation, and hence its potential for poverty reduction, into account. We thus suggest comparing traditional poverty decompositions with a counterfactual situation. This counterfactual indicates what a country starting from its initial situation could be expected to achieve in terms of income, inequality, and, hence, poverty developments. We construct those counterfactuals by modeling income and inequality trends characterized by convergence and a "Kuznets" relationship between inequality and development. Parameters in those relationships are estimated using PovcalNet survey data from 144 countries and we construct our counterfactual poverty predictions for 71 developing countries. While there is overall a tight relationship between actual developments and counterfactuals, we identify several cases, where both deviate from each other and discuss the policy implications. We also check for commonalities in differently performing countries and find that those who fell particularly short of expectations often underwent political transition and state fragility. [ABSTRACT FROM AUTHOR]

This paper presents an evaluation of the long-term impact of microfinance programmes on Acehnese children during the post-tsunami recovery. The study, conducted from June to August 2010, examined the impact of microfinance programming six years after the tsunami. The sample consisted of 185 microfinance participants, with a comparison group of 192 individuals who did not participate in microfinance programmes. All respondents were parents, interviewed through a structured survey. The study used four child protection indicators-diet, health, childcare and education-in contrast to traditional repayment rate indicators. The primary results were insignificant with respect to all four child protection indicators, suggesting that, with respect to these indicators, there was no long-term difference between the impact of microfinance on beneficiaries' children and non-beneficiaries' children. These findings signify a need for microfinance actors to move beyond traditional indicators of economic success to evaluate the social changes microfinance programmes are presumed to effect. [ABSTRACT FROM AUTHOR]

This paper investigates the interlinkage between microcredit and temporary seasonal migration, an issue which has been given little attention in the standard rural-urban migration literature. Seasonal migration due to agricultural downturns is a common phenomenon in developing countries. Using primary data from a cross-sectional household survey of the northwest part of Bangladesh, this paper quantifies the factors that influence such migration decisions. Our results suggest that people with prior access to microcredit are more likely to migrate during an agricultural lean season. Furthermore, we find evidence of a negative selection effect between microcredit and seasonal migration, conditional on an individual's village of residence and observed characteristics. Our results have numerous potential policy implications, including the design of typical microcredit schemes for developing countries. [ABSTRACT FROM AUTHOR]

The goal of this paper is to provide empirical evidence to determine whether microfinance, measured through a country's gross loan portfolio per capita, has a heterogeneous effect on poverty reduction among countries with different levels of poverty. We have used a panel‐data quantile regression with a data set for 57 countries for the years 2005, 2008, and 2011 to estimate the distributional impacts of microcredits on two poverty indices. Results reveal not only that microfinance significantly reduces the incidence and depth of poverty, but also that this effect differs across the different poverty levels (quantiles). The effect of microcredit on poverty reduction is slightly larger among countries where the incidence and depth of poverty are the highest, suggesting that microcredit reaches and benefits even the poorest individuals. [ABSTRACT FROM AUTHOR]