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Purpose – The purpose of this paper is to analyse the issues and concerns of Indian rural credit, which is a powerful tool for enhancing production and productivity and for poverty alleviation. Further it highlights some of the strategies adopted by Reserve Bank of India (RBI) to increase the rural credit facilities in the rural area of India. Design/methodology/approach – The various tools of rural credit are analysed in detail. The Regional Rural Bank (RRB) who play a vital role in increasing the rural credits is studied. Self Help Group (SHG)-Bank Linkage model of NABARD which creates an interface of the informal arrangements of the poor with the banking system is also analysed in detail. Findings – Rural credits serve as a tool for providing a sustainable livelihood for millions of rural Indians who don't have a means of livelihood. Several organisations like RRBs, Microfinance Institutions, NABARD, etc. are playing a major role in providing rural credit facilities to rural India. Reserve Bank of India (RBI) is formulating and regulating the policies and procedure to make the rural credit facilities available to most of the needy. In spite of several efforts put up by various organisations to increase the rural credit facilities, several challenges will prevail in the years to come. Originality/value – These aspects of the financial sector remain undervalued in mainstream literature on rural credit. With India being a nation in which more than 70 percent of people live in rural areas and rural credit being a powerful, and the only, tool for rural people in providing a means of livelihood, its importance and potential should be known to each individual. [ABSTRACT FROM AUTHOR]

Purpose: Primary agricultural cooperative credit societies (PACSs) in India are considered to be the backbone of the last mile delivery of rural credit for landless and marginal farmers and the poorest sections of the society. Contribution of PACS in social welfare is well documented. However, in spite of being such important form of organization at the grass root level, the authors find a typical baffling phenomenon which is fluctuating growth of PACS. Given that PACS have not been able to establish a consistent growth rate, thus hindering its trajectory to become a strong and consolidated organizational form, it is natural to investigate and identify those success factors that are critical for a newly formed PACS to survive and sustain. Hence it is necessary to undertake a strategic assessment of the function of PACS and hence identify those critical success factors (CSFs). This paper aims to address this issue. Design/methodology/approach: The authors review the existing literature and conduct interview with experts and other stakeholders with the purpose to gain a view of the strategic situation of PACS in India, especially with respect to their birth and death processes and identify a set of factors that are critical to the survival and sustenance of PACS. Based on the inputs from the experts, we modelled the interrelationships amongst these CSFs using interpretive structural modelling (ISM). Further, fuzzy Matriced' Impacts Croise's Multiplication Appliquée a UN Classement (MICMAC) analysis is performed to cluster these CSFs into four quadrants based on their influence and dependence in the system. Findings: The findings point out that a hierarchical interconnected structure exists amongst the CSFs that influence the survival and sustenance of the PACSs. "Quality and Motivation of Management" was found to be driving all other factors so far the survival of any PACS is considered. Also the authors have found that "Loan Recovery" is the most sensitive factor that needs to be taken care of for the sustenance of PACS. These findings are in the expected line and commensurate with the conventional wisdom yet to be documented till date. Originality/value: It is a forward-looking analysis that tries to find out the CSFs for the survival of PACS in order to face the changing economic scenario of India which is still agrarian in nature. Both in terms of research question as well as methodology, to the best of the authors' knowledge, this is first of its kind so far PACS are concerned being one of the most important but neglected entities in India; so far the last mile rural agricultural credit delivery is concerned, this study will help the policy makers to develop a holistic viewpoint in relation to long term sustenance of PACS. Peer review: The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-05-2022-0331 [ABSTRACT FROM AUTHOR]

Purpose: This study aims to examine the effects of climate change and agricultural technologies on crop production in Vietnam for the period 1990–2018. Design/methodology/approach: Several econometric techniques – such as the augmented Dickey–Fuller, Phillips–Perron, the autoregressive distributed lag (ARDL) bounds test, variance decomposition method (VDM) and impulse response function (IRF) are used for the empirical analysis. Findings: The results of the ARDL bounds test confirm the significant dynamic relationship among the variables under consideration, with a significance level of 1%. The primary findings indicate that the average annual temperature exerts a negative influence on crop yield, both in the short term and in the long term. The utilization of fertilizer has been found to augment crop productivity, whereas the application of pesticides has demonstrated the potential to raise crop production in the short term. Moreover, both the expansion of cultivated land and the utilization of energy resources have played significant roles in enhancing agricultural output across both in the short term and in the long term. Furthermore, the robustness outcomes also validate the statistical importance of the factors examined in the context of Vietnam. Research limitations/implications: This study provides persuasive evidence for policymakers to emphasize advancements in intensive agriculture as a means to mitigate the impacts of climate change. In the research, the authors use average annual temperature as a surrogate measure for climate change, while using fertilizer and pesticide usage as surrogate indicators for agricultural technologies. Future research can concentrate on the impact of ICT, climate change (specifically pertaining to maximum temperature, minimum temperature and precipitation), and agricultural technological improvements that have an impact on cereal production. Originality/value: To the best of the authors' knowledge, this study is the first to examine how climate change and technology effect crop output in Vietnam from 1990 to 2018. Various econometrics tools, such as ARDL modeling, VDM and IRF, are used for estimation. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to investigate the influence of macroeconomic cyclical indicators and country governance on bank non-performing loans in African countries. Design/methodology/approach: Data was collected from the 53 African countries covering 2005–2021. The paper develops an empirical model to examine the impact of country governance in reducing macroeconomic cycle-induced adverse effects on bank credit risk. This research estimates Random Effects models and the General Method of Moment to examine the link between microeconomic and governance factors on bank non-performing loans. Stata version 15.1 was used to conduct panel regression analysis. Findings: The findings of the study revealed that the generalized method of moments findings contributes valuable insights into the persistence of NPLs over time and the specific effects of variables on NPL levels. The study findings highlight that the debt-to-GDP ratio, unemployment, regulatory quality, government effectiveness and inflation have significant relationships with NPLs, shedding light on their specific contributions to credit risk dynamics. Research limitations/implications: The focus on a specific set of determinants for NPLs, which may not capture all the factors that influence NPL levels. Thus, the study did not consider the impact of macroeconomic shocks, such as natural disasters or global economic crises, which can have a significant impact on NPLs. Practical implications: Policymakers should prioritize maintaining sustainable debt levels, promoting employment growth and controlling inflation rates to mitigate credit risk and reduce nonperforming loans. Also, enhancing regulatory quality and government effectiveness is crucial in ensuring financial stability and minimizing non-performing loans in Africa. Originality/value: This paper provides a new possible solution to minimise bank non-performing loans risk by examining interactions of country governance regarding the macroeconomic cycle behaviour. Peer review: The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-11-2022-0729 [ABSTRACT FROM AUTHOR]

Purpose – Indian Bank, a major commercial bank in South India, has launched Rural Credit Franchisee (RCF) model for lending money to small borrowers in villages. The study aims to study the business model, the profile of ultimate borrowers and their credit requirements and to study the economics of the model. Design/methodology/approach – Data used for the study are mostly primary in nature collected from the RCFs and the rural borrowers. In addition, bank officials were interviewed and also data on loan accounts of RCFs were collected from the sample bank branches and the RCFs. Findings – The RCF scheme is a novel micro finance scheme and it has showcased that the informal institutions can be linked with the formal credit institutions. The scheme has benefited all the stakeholders including the bank, the RCFs and the rural poor. Research limitations/implications – The study has covered majority of the RCFs of the bank in terms of number and volume of business under the scheme and hence the results indicate the performance of the entire portfolio of the bank under the scheme. Practical implications – The study finds that the scheme has benefited all the stakeholders. It has particularly helped in creating competition amongst the rural moneylenders and thereby bringing down the cost of credit in rural hinterlands. Findings are strongly in favour of expanding/replicating the model by the other commercial banks and in all parts of the country, rather across the entire world. Originality/value – The RCF model is one of its kind and the policy makers and regulators may encourage the scheme in order to attain inclusive economic growth. This is a first of its kind study investigating the operation of such a model. [ABSTRACT FROM AUTHOR]

Purpose - Like other developing countries, Rwandan rural credit market is repressed, shallow, segmented, inefficient and dual structured where both formal and informal financial systems operate side by side. While the later has been playing a predominant role, cooperative societies have emerged as an apt method of increasing the delivery of formal rural credit and savings facilities on sustainable and non-exploitative terms albeit of financial imprudence stemming from poor credit repayment records. Thus, the purpose of this paper is to examine the factors contributing to credit repayment behaviour among the members of savings and credit cooperative societies in rural Rwanda. Design/methodology/approach - Both exploratory and descriptive designs are used for primary data collection on variables contributing to the repayment behaviour in savings and cooperative societies. Thereafter, a binary logistic regression. empirical model is employed to estimate the contribution of each variable to credit repayment rate. Findings - The results from the tested empirical model show that age, gender and size of the household, purpose for credit, interest rate charges and number of official visits to the credit societies, have a strong effect on loan repayment performance (statistically significant at p < 0.05) whereas size of credit disbursed, credit processing and disbursing time, borrowers' market place and income transfer from relatives and friends are more or less statistically significant at p < 0.20 level. The remaining factors have logical and explainable sings but are not statistically significant. Research limitations/implications - The primary limitation of this study is the scope and size of its sample as well as absence of income factor as one of important variable influencing repayment behaviour. These limitations may have an effect on the lending policy of the cooperative banks. Originality/value - An understanding of the socio-economic factors affecting repayment behaviour of rural clients is essential for the outreach and sustainability of the mushrooming cooperative societies in the country. Hence, this paper contributes to the empirical literature on the provision of rural financial services in African countries south of Sahara and Rwanda in particular. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to investigate the nonlinear association between financial inclusion and inclusive economic growth (IEG) in developed economies. A Block of G7 countries (Germany, Japan, Canada, France, Italy, the UK and the US) are considered in this study. Design/methodology/approach: For analysis, the authors have employed the "Panel Smooth Transition Regression model." Annual data consists of the period from 1995 to 2019. Findings: This research makes a unique contribution to literature with reference to G7 countries, being a pioneering attempt to apply the panel threshold regression model to analyze the relationship between financial inclusion and IEG by applying more rigorous and advanced econometric techniques. Originality/value: The results indicate that total labor force available in a country, gross fixed capital formation and financial inclusion are positive and significant in lower regimes, but as it moves toward the higher regime, the labor force available in a country becomes less impactful. However, an increase has been observed in financial inclusion in the higher regime. The complete sample generally exhibits a positive yet significant relationship between financial inclusion and inclusive economic development. [ABSTRACT FROM AUTHOR]

Purpose: The primary objective of the present study is to figure out the relative effectiveness of alternate public expenditure with regard to agricultural development particularly in the context of input subsidies vis-a-vis investment. Besides, the authors also endeavour to test the applicability of crowding-out hypothesis in the present context. Design/methodology/approach: Initially, unit root tests are applied for checking stationarity of the underlying data using Augmented Dickey-Fuller (ADF) and Kwiatkowski–Phillips–Schmidt–Shin (KPSS) tests. Further, the highly celebrated autoregressive distributive lag (ARDL) model is applied on annual time series data for the period 1991–2020 to investigate the long-run and short-run impact of the said relationship. Findings: The authors observe that public investment is more productive than input subsidies for overall agricultural development. Besides, the findings document the existence of crowding-in hypothesis, i.e. complementarity between public investment and private investment in case of the agricultural sector in India. Research limitations/implications: The outcome of the research recommends to reprioritize state expenditure and reformulate agricultural policy regarding the public financing of agriculture. More to invest and less to subsidize seems a better policy intervention to achieve desirable outcomes from the Indian agriculture in the long run. Originality/value: This study is novel in the sense that the subsidies vs investment debate is revisited in the current scenario of agricultural development so that resource allocation be optimized. To ensure robustness of the study, the authors specifically took four proxies of agricultural development, namely, productivity growth, private investment, food security and farmers' income. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to examine factors that affect smallholders' adoption of improved rice varieties in Vietnam. Design/methodology/approach: This study used a cross-sectional survey design. A random sample size of 257 was drawn from a total of 725 smallholders. Descriptive statistics and a binary logistic regression were used to analyse the data. Findings: This study concludes that younger smallholders who participate in credit and training programs have a high level of education, receive government support, have both owned and rented land for growing rice and those who have a larger farm size have a greater tendency to adopt improved rice varieties. In addition, if improved rice varieties have higher productivity potential, palatability and marketability compared with the traditional ones as perceived by smallholders and seed of these rice varieties are available in local markets, then they are likely to be adopted by smallholders. Research limitations/implications: A combination of socio-technological characteristics of smallholders should be considered when promoting smallholders' adoption of improved rice varieties and when choosing agricultural extension strategies to improve small-scale farmers' uptake of improved crop varieties in developing countries. Originality/value: This research provides important understanding of the determinants of smallholders' adoption of improved rice varieties and highlights factors that need to be considered when designing policies to enhance the uptake of improved rice varieties in developing countries. [ABSTRACT FROM AUTHOR]

Purpose: This work aims to examine the access and disparity of institutional agricultural credit for small and marginal farmers across various social groups from three Indian states. Design/methodology/approach: Field data on socio economic variables were collected using multi-stage stratified random sampling and purposive sampling through a structured questionnaire by interviewing about 400 cross sectional small and marginal farmers belonging to various social groups such as general caste, other backward caste, scheduled castes and scheduled tribes. Disparity of agricultural credit across different social groups is assessed using measures such as credit access, credit adequacy ratio, credit gap and newly constructed Agriculture Credit Disparity Index (ACDI). Findings: The credit access, credit access ratio and newly constructed ACDI suggest that, by and large, farmers belonging to socially advantaged groups have better access to institutional agricultural assistance than farmers belonging to socially disadvantaged groups. Practical implications: The agricultural credit policy of the government needs to incorporate measures to eliminate credit disparity primarily by correcting the poor socio-economic profile (especially lower asset ownership and higher illiteracy) of socially disadvantaged farmers compared to the farmers' counterparts. Originality/value: This study contributes to the existing work by providing fresh evidence from the field across social groups for both kharif and rabi crops using recent survey data from small and marginal farmers which have important policy implications. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is twofold: first, to develop a framework to implement electronic delivery systems for connecting federal government with rural citizens using banking infrastructure as a reintermediation platform; and second, to understand the challenges faced by banks in reintermediation for financial inclusion (FI). Design/methodology/approach: This exploratory research adopts case study method to gain insights of the challenges faced by banks in e-government services for FI. In-depth structured interviews are conducted with key respondents: branch managers heading banks in rural areas. Findings: Preliminary results based on in-depth interviews with branch managers of banks suggest that banks leverage facilitators called Bank Mitras (BM) (friends from bank as per the local language) to disseminate services offered by the banks to rural customers at each village. However, a key challenge faced by banks is the increased dependency on bank employees to complete the process of e-government transactions by the beneficiaries because of trust factor. Research limitations/implications: This exploratory research builds on the case study approach using in-depth interviews with the branch managers of five banks as key respondents to develop the preliminary research framework for FI. Practical implications: Policymakers can design banking systems to enhance transparency by implementing technologies and decentralizing routine transactions to citizens by enhancing the role of facilitators (BM). Social implications: FI aims to reach out and empower citizens with banking facilities for disbursing e-government services. This process needs to be refined for the rural population of India to understand and better use the e-government services and schemes. Originality/value: Insights from in-depth interviews with key respondents of the banks were collated and augmented with literature to enhance the rigor of the exploratory research. [ABSTRACT FROM AUTHOR]

Purpose: The paper empirically investigates the impact of financial inclusion on food security. Subsequently, it examines the overall effect of various dimensions of financial inclusion on food security of developing countries using the panel data for the time period of 2004–2019. Design/methodology/approach: To overcome the problem of endogeneity, the study has used a fixed-effect model, two-stage least-square and system generalized method of moments estimation techniques. Secondary data was collected from various websites such as WDI, FAO, UNICEF and UNESCO. Findings: It was found in the study that there is a significant effect of financial inclusion on food security. The evidence shows that if there is more financial inclusion in the country, it will help poor people to cope with difficult situations they face and provide them food security. Financial development, per capita income, agriculture growth and education positively affect food security, while militarization and urbanization have a negative impact on food security. The crux of the analysis is that any country's financial sector is an integral part of any country that supports food security. Originality/value: The literature does not clearly show the impact of financial inclusion dimensions on developing countries' food security. Therefore, there is a need to use all the dimensions of financial inclusion to check the overall impact on food security. For this purpose, the financial inclusion index is developed. A new dimension of non-life insurance is introduced that has not been used previously by any researcher to check financial inclusion impact. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to test a model in which the effect of strategic information technology (IT)-business alignment capability (hereafter referred to as "strategic alignment") on organizational performance is examined via the mediating role of organizational agility [studied as operational adjustment agility (OAA) and market capitalizing agility (MCA)] along with the moderating influence of environmental uncertainty. Design/methodology/approach: The research uses survey data accumulated from 220 managers (IT and bank managers) working in the regional rural banks of Odisha, India. A structural equation modelling approach is used to investigate the strategic alignment-performance relationship. Findings: The findings demonstrate the positive effect of strategic alignment on agility (studied as OAA and MCA). This paper finds the positive effects of strategic alignment and both OAA and MCA on organizational performance. The moderation analysis reveals that in an uncertain environment, strategic alignment has more impact on MCA than OAA. However, the test of mediation exhibits OAA as a more significant mediator promoting the strategic alignment-performance linkage, than MCA. This was further validated from the moderated-mediation analysis. Originality/value: Although previous research studies (mostly conducted in the context of developed countries) have reported about the positive strategic alignment-agility-performance linkages, yet the literature is silent regarding the influence of external contingent factors on these relationships from a rural banking perspective in a developing country setting (such as India). The research extends the strategic alignment-agility-performance theories and provides empirical support for these unique associations in the context of rural banking in India and thereby, greatly contributes to the existing strategic alignment literature. [ABSTRACT FROM AUTHOR]

Purpose: Literature contributions to agricultural cooperative (AC) entrepreneurship model are fragmented and show some significant limitations. The purpose of this paper is to identify the existing important barriers to this entrepreneurship model as well as to group them into respective themes. Design/methodology/approach: A systematic literature review (SLR) of peer reviewed journal articles was carried out by the authors in well-known databases, such as Scopus, Emerald, ScienceDirect, Google Scholar, IDEAS/RePEc search and Web of Science. In total, 78 articles from 26 different countries during 2010–2019 were collected. Findings: A large number of important barriers are identified in the literature and meaningful dimensions of these barriers are also revealed. Practical implications: The study has important implications regarding the ways to improve the effectiveness of AC model. Researchers and practitioners can use the results presented in this study for further development of this model. Originality/value: This study presents the important barriers in AC model in global scope analytically and groups them into meaningful themes, which significantly differentiate the present SLR study from those published so far. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to investigate factors that affect smallholders' adoption of organic rice production in the Hai Lang district of Vietnam. Design/methodology/approach: This study employed a cross-sectional survey research design. A sample size of 215 was drawn from a total of 455 smallholders. Descriptive and inferential statistics, including a binary logistic regression, were used to analyse the data. Findings: The study concludes that younger female smallholders participating in credit/training programs and community-based organisations, who have a high level of education, a large household size and more experience in rice farming, and who grow mixed crops, have a greater tendency to adopt organic rice production. Research limitations/implications: A combination of demographic, socio-economic and institutional characteristics of rice smallholders should be considered when promoting organic rice farming practices by smallholders and when choosing organic agricultural development strategies for smallholders in developing countries. Originality/value: This research provides significant understanding of the determinants of organic rice adoption by smallholder farmers and highlights factors that need to be considered when designing policies to enhance the uptake of organic farming in developing countries. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to explore the demand side factors affecting financial inclusion in general and credit uptake in particular. Design/methodology/approach: The present study is descriptive and exploratory in nature and is purely based on primary data. The data collection instrument has been scientifically after thorough review of literature and seeking expert opinion. Primary data have been collected from the respondents of lower socioeconomic class in selected rural areas in the State of Maharashtra, India. Exploratory technique like factor analysis and structural equation modelling have been used to identify the inter-relations between financial inclusion and underlying barriers. Findings: The study concludes that there are major latent issues that determine the uptake and usage of financial services, major being "operational and implementation challenges", "financial literacy" and "affordability". The "usage" aspect further impacts financial inclusion along with "access" variable. These are some of the most important factor for creating demand-driven approach towards financial products and services specially credit. The author concludes that the identified latent barriers with respect to the "usage" dimension of financial inclusion require greater policy attention so that it can complement the supply-side measures. Practical implications: The study establishes that merely having "access" through bank account ownership will not fulfil the objective of financial inclusion, and it is the "usage", which is also important to realize the full potential of financial inclusion at the bottom of the pyramid. So, policy actions should be directed toward enhancing the "usage" aspect of financial services. The "usage" dimension could be enhanced through targeted interventions to mitigate the effect of identified latent barriers. Originality/value: Though researchers have made a mention of demand-side barriers to financial inclusion, detailed study on the topic is missing. The study is one of its kinds in exploring the severity of various demand-side barriers that determine financial inclusion. In the context of emerging economies like India, financial inclusion is often measured in terms of banking outreach and "access". There are limited studies capturing the "usage" dimension of financial inclusion. [ABSTRACT FROM AUTHOR]

Purpose: This study simultaneously explores the nexus among formal, semiformal and informal credit markets and farm households' credit demand determinants in Vietnam. Design/methodology/approach: This study uses a multistage stratified random sampling process for a survey of 648 smallholder farmers in the Red River Delta (RRD), Vietnam. The trivariate probit model (TVPM) is used to address the interdependence of farm households' credit demands in different credit markets. Findings: The results reveal complementary relationships among two pairs of credit markets (formal versus informal and semiformal versus informal). There are dissimilarities among the determinants (household characteristics, household head's characteristics, credit history and geographic factors) of farm households' credit demands in different markets, reflecting segmentation of Vietnam credit markets. Practical implications: The study's empirical findings are important for policymakers and credit providers to enhance farm households' access to credit for agriculture and to improve the operations of the three credit markets. Originality/value: This is the first empirical study in Vietnam and one of few in other developing countries simultaneously exploring the determinants of credit demand in and interrelationships among all three credit markets to provide more comprehensive and accurate results. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to answer the research question: How do cooperative organizations perform when created by government fiat in an emerging market? Through the use of institutional and agency theory, this paper presents a comparative analysis of the efficiency of the cooperative form of organization and investor-owned firms-investigating how the social–political structures in a community affect the efficiency of cooperatives vis-à-vis investor-owned firms. This paper also attempts to offer a better understanding of how government quality and organizational size influence performance outcomes between different organizational forms specifically in the Philippines. Design Methodology Approach: The empirical analysis of this study was conducted among electric distribution utilities in the Philippines. Firm-level data was generated for 133 distributors, consisting of 119 electric cooperatives and 14 investor-owned companies. Panel data regressions were ran to test all hypotheses. Findings: Cooperative organizations operate at a less efficient rate than investor-owned firms in the Philippines, even when controlling for firm-specific factors such as size, customer density and profitability. In addition, the efficiency of these cooperative organizations is more strongly influenced by the quality of the local government than investor-owned firms. Originality Value: Positive externalities generated by the propagation of cooperatives on local communities may be based primarily on our understanding of how cooperatives have functioned largely in western contexts. Within the context of Southeast Asia, where national socio-political structures may be more dysfunctional, this paper observes that there is an equivalent negative externality caused by the tendency of cooperatives to replicate the political mismanagement of the community around it. [ABSTRACT FROM AUTHOR]

Purpose: This study investigates the short-run and long-run impacts of agricultural credit on Vietnam's agricultural GDP over the period 2004:Q4–2016:Q4, with the incorporation of agricultural labor, public investment and rainfall as important determinants of agricultural GDP. Design/methodology/approach: This study applies the indicator saturation (IS) break tests and the autoregressive distributed lag (ARDL) bounds test with structural breaks to examine the credit–agricultural performance nexus. The causal relationships among variables are explored through the Toda–Yamamoto Granger causality test. Findings: The results indicate that agricultural credit positively influences agricultural GDP in both the short-run and long-run. A unidirectional causal relationship running from credit to agricultural GDP is confirmed. The results also discover the positive and significant effects of labor and rainfall on agricultural GDP in the long-run. Practical implications: The results imply that the government should focus on expanding agricultural credit as well as enhancing the efficiency of agricultural credit. Furthermore, formal credit institutions should be encouraged to work closely with farmers and agricultural enterprises to offer flexible lending periods and amounts to meet the real situation of agricultural production. Originality/value: This study is the first to examine the credit–agricultural performance relationship at the macro-level in Vietnam. Based on the empirical results, the study provides crucial implications for policymakers to optimize the effectiveness of agricultural credit and enhance nationwide agricultural performance. [ABSTRACT FROM AUTHOR]

Purpose: The paper aims to examine the level of agricultural credit by commercial banks and the determinants that influence the commercial banks to the increased level of agricultural credit through the pressures of the institutional environment. Design/methodology/approach: The study selects seventeen sample commercial banks following the market capitalization method and investigates a total of 85 annual reports during the period from 2013 to 2017. The study conducts a pooled regression to conclude the proposed hypotheses. Findings: The present study finding indicates that the average of agricultural credits to total credits is 2.25% among the sample commercial banks. The study finds a positive significant association between board gender diversity, foreign director, management team and agricultural credit. Furthermore, the study has found that the role of the deposit in enhancing agricultural credit is positive. On the other hand, the association between independent directors, profitability and agricultural credits is negative. Research limitations/implications: The study is based on secondary data with five firm-year observations of commercial banks. The study finding is based on commercial banks, so it should not be generalized to non-bank financial institutions. Practical implications: The study emphasizes policymakers' attention towards the level of agricultural credit and determinants that influence the level of agricultural credit by commercial banks in emerging markets. Originality/value: The key contribution of the study is to focus on the reformist role of the determinants in promoting the increased level of agricultural credit in the emerging markets. [ABSTRACT FROM AUTHOR]

Purpose: A review of literature has documented that accessing formal credit and other banking services has always been a crucial challenge for small and medium-sized enterprises (SMEs). The alternative, therefore, tends to be informal channels. However, the credit constraint vis-à-vis informal channel link does not appear to be well documented in the literature. This study aims to investigate whether credit constraints significantly affect the probability of accessing informal credit, as well as the credit values of Vietnamese SMEs. Design/methodology/approach: This study uses a trinary approach and correlated random-effects Probit and Tobit techniques to avoid the incidental coefficients problem. Findings: The results suggest that relative to unconstrained and partially constrained firms, fully constrained firms tend to be more active in the informal credit markets, shown by their higher probability of informal credit access and larger credit values. Originality/value: To the best of authors' knowledge, this is the first study on Vietnam that takes a different approach to credit constraints and examines their impact on informal credit access. Policy implications arise and are discussed. Peer review: The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-11-2017-0543 [ABSTRACT FROM AUTHOR]

Purpose: Since finance is an efficacious instrument for economic development, social inclusion and women empowerment, the present paper examines the determinants of accessing institutional and non-institutional finance across male- and female-headed households in rural India. Design/methodology/approach: Multinomial logistic regression is applied for categorizing households' accessing finance in four categories, namely Only Institutional Finance (IF), Only Non-institutional Finance (NIF), Both Sources of Finance (BF) and Neither Source of Finance (N). Both household and state-level determinants have been analysed. Household data set is sourced from the Situation Assessment Survey (NSSO, 70th round) and state-level data sets from Basic Road Statistics 2016, Agricultural Statistics at a Glance 2016, Rainfall Statistics of India 2014, database on Indian Economy RBI and Census 2011. Econometric regressions have been evaluated for female-headed households (FHHs), male-headed households (MHHs) and overall pooled households (HHs). Findings: Four important findings emerge. First, FHHs have a lower probability of accessing IF and a higher probability of accessing NIF vis-a-vis MHHs. Second, in general, education levels, monthly household consumption expenditure, land size holding, irrigated area and penetration of scheduled commercial banks favourably influence FHHs accessing IF. Third, FHHs belonging to socially disadvantaged castes have a lower probability of accessing IF. Fourth, a substantial proportion of FHHs accesses neither IF nor NIF relative to MHHs. Practical implications: The paper thoroughly addresses the issue of accessing finance by FHHs and MHHs, which will further assist policymakers in formulating holistic financial policies for rural India. Social implications: The paper recommends increasing women's access to financial services as an effective tool for reducing poverty and lowering income inequality in rural India. Originality/value: This article contributes to the scant empirical literature on finance and gender. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this systematic review was to assess the determinant factors of climate change adaptation (CCA) in sub-Saharan Africa (SSA). Design/methodology/approach: Studies that focused on determinant factors of CCA by crop–livestock farmers and pastoralists in SSA and written in English were reviewed from five major databases using the applications of Endnote and NVivo. The review process followed a sequence of steps to reach into the final selection. Findings: A total of 3,028 papers were recovered from the databases and screened for duplicates (777) and publications before 2000 (218). The titles and abstracts of 2,033 papers were reviewed, and 1,903 of them were excluded owing to preliminary exclusion criteria. Finally, 130 papers were selected for full-text review and more detailed assessment, where 36 papers qualified for the final review. The most important determinant factors of CCA by pastoralists were household income, access to information, access to extension services, government support and access to market. In the case of agro-pastoralists, access to information, household income, age and land/livestock ownership were found as the major determinant factors. Household income, land ownership, access to information, farm size, household size and access to extension services were the determinant factors found for CCA by smallholder farmers. Research limitations/implications: This systematic review identified the major determinant factors according to production systems and highlights the importance of considering specific factors in designing CCA strategies. Originality/value: After clearly stating the research question, a literature search was conducted from the major databases for climate-related research, and a comprehensive search was performed by two independent researchers. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to investigate and understand China's rural farmers' financing intention of inclusive finance, and it examines related drivers like knowledge of inclusive finance, perceived benefits and perceived risks of ordering finance. Besides, the social enterprise embeddedness and digital finance are integrated into the conceptual model to further investigate their moderating impact. Design/methodology/approach: The authors designed an inclusive finance intention model to examine the relations between dependent variable knowledge of inclusive finance, intermediary variables perceived benefits and perceived risks of ordering finance and the independent variable financing intention of inclusive finance. The embeddedness of social enterprise and digital finance were identified as modifying factors. Both exploratory and conclusive research strategies were applied. A structured questionnaire was developed to collect empirical data from the rural areas of China. Findings: It suggests that knowledge of inclusive finance can strengthen both perceived benefits and perceived risk of ordering finance. Interestingly, the embeddness of social enterprise can significantly reduce risk perceptions and improve perceived benefits of ordering finance. Furthermore, perceived benefits of ordering finance can positively enhance rural farmers' financing intention of inclusive finance, whereas perceived risks can negatively influence the financing intention. Moreover, digital finance as a modifying factor can significantly strengthen the positive correlation between perceived benefits of ordering finance and financing intention of inclusive finance. Practical implications: The research indicates that a systematic inclusive finance educational project is needed to enhance rural farmers' understanding of inclusive finance and its components. Moreover, the study reveals that it is crucial to promote social enterprise participation and digital finance to develop inclusive finance in rural China, as the service attributes of social enterprise and efficiency of digital finance can greatly reduce the existing transaction cost of farmers. Originality/value: The conceptual model would potentially contribute to researchers interested in investigating the financing intention of inclusive financial services relating to rural population. The integration of social enterprise embeddedness and digital finance is the uniqueness of this research conceptual model. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to establish the mediating role of social capital in the relationship between financial intermediation and financial inclusion in rural Uganda.Design/methodology/approach The current study used cross-sectional research design and a semi-structured questionnaire was used to collect data for this study. The study applied structural equation modeling through bootstrap approach in AMOS to establish the mediating role of social capital in the relationship between financial intermediation and financial inclusion.Findings The results indicated that social capital significantly mediates the relationship between financial intermediation and financial inclusion in rural Uganda. Therefore, it can be deduced that social capital among the poor play an important role in promoting financial intermediation for improved financial inclusion in rural Uganda.Research limitations/implications Although the sample was large, it may not be generalized to other segments of the population. Data were collected from only poor households located in rural Uganda. Besides, the study was cross-sectional, thus, limiting efforts in investigating certain characteristics of the sample over time. Perhaps future studies could adopt the use of longitudinal research design.Practical implications Financial institutions such as banks should rely on social capital as a substitute for physical collateral in order to promote financial inclusion, especially among the poor in rural Uganda.Originality/value This study provides empirical evidence on phenomenon not studied in rural areas in Sub-Saharan Africa where the poor use social capital embedded in customs and norms for doing business. The results highlight the importance of social capital in mediating the relationship between financial intermediation and financial inclusion of the poor in rural Uganda. [ABSTRACT FROM AUTHOR]

Purpose The Government of Pakistan has allocated a substantial proportion of agricultural credit to subsistence farmers. The purpose of this paper is to analyze farmers’ access to credit and its adequacy in the light of current agricultural credit policy of Pakistan.Design/methodology/approach The study has used both secondary and primary data for analysis. Secondary data were collected from the annual reports of Pakistan Economic Survey and State Bank of Pakistan. Primary data were collected from 168 subsistence farmers through households’ survey. Farmers’ credit access and credit adequacy were measured using credit access ratio and credit adequacy ratio, respectively. The Student’s t-test and analysis of variance were used to assess the differences in credit access and adequacy among farmers’ groups (i.e. upper, medium and lower subsistence farmers). Tobit regression model was employed to determine the factors influencing credit adequacy among farmers.Findings The empirical results revealed that the amount of credit provided to subsistence farmers was less than stated in the national agricultural credit policy. Upper subsistence farmers had more access to credit than lower and medium subsistence farmers. Lower subsistence farmers had above average access to informal sources of credit, and had below average access to formal sources. The findings also revealed that lower subsistence and medium subsistence farmers had the highest credit inadequacy of funds for investment in agriculture. The results of the Tobit regression revealed that age, education, experience, household size, total landholding of farmer and proportion of own land influenced the agricultural credit adequacy.Practical implications Most of the credit was distributed among the upper subsistence farmers. Lower subsistence farmers were still largely dependent on informal credit for farm production activities. The Government of Pakistan performed poor in the implementation of agricultural credit policy, and has failed to help subsistence farmers in their access to formal credit. It is needed to revamp the agricultural credit policy and facilitate credit acquisition by subsistence farmers, particularly for tenant farmers. It is important that the Government may classify the subsistence farmers into subgroups, and reallocate the funds accordingly. This study has lessons and implications for agricultural finance initiatives in developing countries.Originality/value Previous studies have focused primarily on access to agricultural credit. However, this study has adopted a holistic approach by using secondary and primary data to assess the farmers’ access to credit and adequacy. In addition, limited literature is available to explore the farmers’ accessibility and adequacy of agricultural credit. Furthermore, this study has focused exclusively on the farmers who are living in the flood-prone areas of Pakistan. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to examine institutional frames for financial inclusion of poor households in a Sub-Saharan Africa context and provide policy implications in solving the persistent problem of limited inclusion of poor households into mainstream formal financial services in Uganda.Design/methodology/approach Cross-sectional research design was used in this study. Data were collected from a randomly selected sample of 200 poor households located in Mukono District. Statistical program for Social Scientists and Analysis of Moment Structures were used to generate results.Findings Results have revealed the presence of regulative, normative, and procedural and declarative cognitive institutional frames, which affect financial inclusion of poor households in rural rural Uganda. The findings and policy implications are discussed in detail in the paper.Originality/value This study parallels the World Bank Global Findex survey (2012) on general aspects of financial inclusion around the world. It examines frames, which structure behaviours and actions of poor households towards their financial decisions and choices in attempting to improve financial inclusion with a major focus on rural Uganda. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to identify factors affecting formal credit constraint status of rural farm households in Vietnam’s North Central Coast (NCC) region. Design/methodology/approach – Using the direct elicitation method (DEM), the authors consider both internal and external credit rationing. Findings – Empirical evidences confirm the importance of household head’s age, gender and education to household’s likelihood of being credit constrained. In addition, households who have advantages in farm land size, labour resources and non-farm income are less likely to be credit constrained. Poor households are observed to remain restricted by formal credit institutions. Results from the endogenous switching regression model suggest that credit constraints negatively impact household’s consumption per capita and informal credit can act as a substitute to mitigate the negative influence of formal credit constraints. Research limitations/implications – One limitation arises from the usage of the DEM to identify credit constrained households. The method cannot detect effective and ineffective constraints. Another limitation is the inability of cross-section data to capture long-term impacts of credit constraints on household welfare. Finally, causes of credit constraints from the lender’s view cannot be observed. Practical implications – The results suggest that it is necessary to enhance the credit allocation regime to reduce the transaction cost and provide target households with sufficient credit. It should be emphasized that high transaction cost and the mismatch between credit demand and supply stemming from information asymmetry. The government can help formal financial institutions to reduce information cost by encouraging the active role of social organizations such as Women Unions, Youth Unions and Veteran Unions in bridging rural farm households with formal lenders. Originality/value – There are limited studies focusing on determinants of credit constraints and their impacts on rural farm households. To the best of the knowledge, there is no study evaluating the impact of credit constraints on rural farm household welfare particularly in Vietnam. In addition, the studies related to credit constraints only considered full quantity rationing (households applied for the loan but were rejected), omitting the case of partly quantity rationing (loan obtained by the borrowers is less than their demand) and self-rationing. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to evaluate the role of social capital in a microfinance contract. Design/methodology/approach – Systematic review of the theoretical and empirical literature on the role of social capital in microfinance. Findings – The theoretical literature has shown using models of peer selection, peer monitoring and peer pressure that group lending with joint liability overcomes both the informational and enforcement failures present in credit markets for poor. However findings from the empirical literature conclude that social capital should not be taken as a single concept but should be considered in light of its different aspects which may be having different effects on the performance. For example, the trust between the borrowers, cultural and social homogeneity has been found to have more significant affect on repayment performance in contrast to the incentives due to peer pressure. The groups formed by family members and relatives are consistently been reported to have weakening influence on repayment. Practical implications – For a same program the effect of social capital on performance can be different for different geographies and different classification of subjects and thus should be studied before initiating a microfinance program in any social setting. Social implications – The borrowers should be encouraged to form groups with others who are more trustworthy and not with those they are just having an acquaintance with. The borrowers should be encouraged to come to aid of those who are victims of negative externalities. The positive experiences will lead to reciprocity of actions in future. The borrowers should be discouraged to form groups with family members and relatives. Originality/value – It analyzes both theoretical and empirical literature by disentangling different aspects of social capital within groups and their effects on group performance. [ABSTRACT FROM AUTHOR]

Purpose -- The purpose of this paper is to see whether the government subsidized microfinance program has been able to expand physical, economic, political and socio-cultural spaces across castes, creeds and religious beliefs. Design/methodology/approach -- The District of Murshidabad, West Bengal, India has been chosen as field of investigation. Initial survey was conducted in 2006. Same households were resurveyed in 2008. Therefore, the data are two period panel data. During survey a stratification was done according to socio-cultural status. To remove unobserved heterogenity, difference in difference method has been applied. Findings -- The program has been found to succeed in impacting upon physical, economic and political components of empowerment, but has failed to expand socio-cultural spaces of four socio-religious communities (SRCs) namely, upper castes, other backward castes, schedule castes (SCs) and Muslims (Ms). This study also examines the impact of the program on different measures of empowerment across SRCs, and shows that program participation has significant impact on the likelihood of empowerment for members of UC community. Research limitations/implications -- Participation in SGSY program enable women to negotiate gender barriers, increase their control over their own lives, and improve their relative position in their households, though to some extent. But we do not mean to suggest that participation in SHGs is the only panacea to gender subordination. The authors acknowledge the need for consciousness raising, organizing and struggling for women's right for women empowerment. Originality/value -- There is hardly any study measuring the empowerment potential of microfinance program across SRCs. [ABSTRACT FROM AUTHOR]

Purpose -- The purpose of this paper is to see whether Government of India is successful to make credit accessible to the poor; to examine the role of competition in microfinance sector in ensuring credit to the ultra poor borrowers; to see the role of subsidy in microfinance movement. Design/methodology/approach -- The paper is based on secondary data. This paper examines, in an analytical framework with a variety of assumptions, the role of microfinance institutes (MFIs) in bringing capital to the ultra poor. Findings -- In an attempt to make credit accessible to the poor, Government of India took several measures, but did not succeed to a significant extent. This paper has shown that the microcredit has become accessible to the "working poor," but not to the ultra poor. Initially the model shows that in the absence of competition MFI and moneylender are equally exploitative to the ultra poor borrowers. The model further shows that in the presence or absence of competition in the credit market, credit may be accessible to the ultra poor borrowers under certain conditions. Excessive subsidies might drive out the poor borrowers from the microfinance sector. Originality/value -- For the poor clients served by the microfinance institution, the argument goes, the access not the cost (interest rate) that matters (Robinson, 2001). Here the implicit assumption is that the interest rate elasticity of demand for micro credit is close to zero (Emran et al., 2006). In an interesting paper Deheja et al (2005) has shown that the interest rate elasticity of loan in the microfinance system is significantly negative. The author is of the opinion that this is the cost of credit as well as inability to pay a minimum price of credit, which denies the access to credit. JEL Classifications -- G21, G38, L12, L14, O18 [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to investigate the relationship between commercial bank lending terms, financial literacy and access to formal credit by small and medium enterprises (SMEs). Design/methodology/approach – In this cross-sectional study, the authors surveyed 384 business owners or managers of SMEs in Uganda. The authors applied confirmatory factor analysis to reduce the number of factors and identify the important elements that capture commercial lending terms, financial literacy and access to formal credit. The authors put forward and tested two hypotheses relating to the significance of the relationship between perceived commercial bank lending terms, financial literacy and access to formal credit using structural equation modelling with analysis of moment structures 18. Findings – The results suggest a positive and significant relationship between perceived commercial bank lending terms, financial literacy and access to formal credit. Moreover, the ANOVA results serendipitously show that access to formal credit varies with type of business and turnover. However, collateral and loan repayment periods are not observed variables for commercial bank lending terms. The most significant observed variable for commercial bank lending terms is interest rates. This, together with financial literacy, explains 31 per cent of the variances in access to formal credit by SMEs in Uganda. Research limitations/implications – The study is limited to the SME firms registered and operating in Kampala, Uganda and it is possible that the results are only applicable to these firms in Uganda. Nevertheless, the findings have implications to commercial banks wishing to improve the turnover of their micro-lending schemes. Practical implications – Efforts by the stakeholders to improve financial literacy of SMEs owners and managers must be matched with favourable interest rates if access to formal credit is to be enhanced. Social implications – The findings also have implications for governments aiming at improving access to finance to overcome income inequality problems, and also improve their growth.Originality/value – The results provide initial evidence of the aggregate explanatory power of interest rates and financial literacy for the criterion variable, access to formal credit by SMEs. [ABSTRACT FROM AUTHOR]

Purpose – This paper aims to examine the implications of the efforts to promote a quality-oriented economy that incorporates a vision of environmental sustainability and equitable social development. Design/methodology/approach – The analysis builds on a case study of food procurement in Brazil, which intended to improve the quality of food used in public schools. The case study follows ways that the promotion of quality food has localised the procurement operation, connecting smallholders to citizen-consumers. Findings – The efforts to promote quality food procurement worked to shape reflexive governance in a decentralised political environment and create an institutional device based on cooperative civic participation and state engagement. However, this process highlighted socioeconomic inequality within the country due to uneven local capacities to connect good-quality services to the citizens' everyday places. The study identifies the following paths to tackle this unevenness: improvement of place-based infrastructure; promotion of trans-local cooperation; and building on the existing informal institutional arrangements. Originality/value – The focus on quality and sustainability in general has been blind to the inequality in local capacities to define and promote the quality-oriented economy in the first place. Recognising inequality through a case study, the paper outlines specific ways for the author to link quality to trans-local equality. [ABSTRACT FROM AUTHOR]

Purpose – The aim of this paper is to survey the working poor who are microfinance borrowers, examining their perceptions of customer satisfaction and corporate social responsibility. Design/methodology/approach – Validated scale measures were presented in a cross-sectional field study survey of 201 respondents. OLS regression was used after determining factor loadings and reliabilities. Findings – Customer dissatisfaction with the microfinance product, lack of commitment from lender's staff, and dissatisfaction with informational support, were all significantly related to future purchase intentions. Only dissatisfaction toward the firm's people was significantly related to perceptions of CSR. Practical implications – Dissatisfied poor would prefer to buy elsewhere, even if they find the seller to be socially responsible. However, attitudes and behaviors of the firm's agents convey low CSR. Microfinance customers were sensitive to customer service. Service quality was also significantly related to their perceptions of CSR. Originality/value – This exploratory research is novel, examining stakeholders at the bottom of the pyramid. Indian respondents came from the origins of microfinance, and are seldom sampled. Despite being captive customers with few alternatives, microfinance borrowers are sensitive to customer service. This service is also significantly related to their perceptions of CSR. [ABSTRACT FROM AUTHOR]

Purpose – The authors aim to examine how macro, meso and micro territorial boundaries influence the loan repayment performance of female clients of mega microfinance institutions (MFIs) operating in a polarized Latin America and the Caribbean (LAC). Design/methodology/approach – The study uses panel data (random effect analysis) comprising seven years and 407 MFIs of LAC. Findings – The repayment performance of MFIs' female clients in LAC is meso and micro territorially bounded. It is positively influenced by the urbanization and gender inequality levels of the LAC countries, and by the number of loans per MFI loan officer. Research limitations/implications – Data concerning the risk of the businesses women invested in, or data related to women's access to credit, were not included; high heterogeneity in large countries must be taken into account. The authors' findings expand the understanding of territorial boundary conditions concerning female clients' repayment performance and extend the prior literature on the subject. Practical implications – The authors' findings suggest that the MFIs operating in LAC should increase their number of loan officers. The MFIs of the Mexico-led cluster may also seek a better balance between female and male clients, since hiring more loan officers may be impracticable for them. Originality/value – The authors empirically challenge the widely accepted assumption that female clients are always the best choice for MFIs. They also unfold territorial boundaries conditioning these clients' performance. [ABSTRACT FROM AUTHOR]

Purpose – The aim of the study is to attempt to analyze the trends and patterns of institutional credit flow, deployed by the CBs, SCBs and RRBs, for production and investment purposes in agriculture and allied activities in India in the light of banking sector reforms initiated in the early 1990s. Design/methodology/approach – The study is based on secondary data collected from the Handbook of Statistics of Indian Economy, 2009-2010 published by the Reserve Bank of India, Agricultural Statistics at a Glance, Economic Survey of India, etc. The data relating to institutional credit at the all India level were collected for 1971-1972 to 2007-2008. The period from 1971-1972 to 1980-1981 is considered as the beginning of multi-agency approach and bank branch expansion, from 1981-1982 to 1990-1991 is regarded as the pre-reform period, from 1991-1992 to 2007-2008, as the post-reform period. In order to examine the extent of institutional credit flow for development of agriculture and allied activities, the indictors such as the average institutional credit per hectare cultivated area and as percentage of agricultural GDP were estimated, besides the CAGR during different periods. Findings – The study found that the annual growth rate of total institutional credit for agriculture and allied activities was much higher during the reform period as compared to that of pre-reform period. The average institutional credit per hectare and as a percentage of agricultural GDP has gone up significantly during the reform regime. The RRBs followed by the SCBs registered highest growth rates of production credit as compared to that of CBs during the entire period; it was higher during the reform than the pre-reform period. The growth rate of investment credit was highest for SCBs followed by the RRBs as against the CBs during the reform period. It has been observed that the CBs have lost their historical prime position in provision of agricultural credit. The growth pattern of production as well as investment credit constituted what can be described as the "U-shaped" curve. This implies that the bulk of the increase in institutional credit for agriculture and allied activities during the reform period was attributed to the banking sector reforms initiated in the early 1990s. Research limitations/implications – The data on institutional credit provided by the SCARDBs and PCARDBs were not included under the co-operative sector prior to 1999-2000, and it covered credit by only PACs. Hence, the temporal comparability of data on institutional credit under the co-operative sector for the period 1998-1999 to 2007-2008 with that of earlier periods may be erroneous. Practical implications – Adequate and timely inflow of both production and investment credit for development of agriculture and allied activities through further reforms in the banking sector would go a long way in sustained growth of agriculture and food security for a great majority of the rural masses in India. Originality/value – The study establishes the "U-shaped" curve for the growth pattern of institutional credit for development of agriculture and allied activities in India. This follows that the increase in the growth rates of institutional credit during 1991-1992 to 2007-2008 was largely due to the banking sector reforms. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper to develop an empirical methodology for managing spatial basis risk in weather index insurance by studying the fundamental causes for differences in weather risk between distributed locations. Design/methodology/approach – The paper systematically compares insurance payouts at nearby locations based on differences in geographical characteristics. The geographic characteristics include distance between stations and differences in altitude, latitude, and longitude. Findings – Geographic differences are poor predictors of payouts. The strongest predictor of payout at a given location is payout at nearby location. However, altitude has a persistent effect on heat risk and distance between stations increases payout discrepancies for precipitation risk. Practical implications – Given that payouts in a given area are highly correlated, it may be possible to insure multiple weather stations in a single contract as a "risk portfolio" for any one location. Originality/value – Spatial basis risk is a fundamental problem of index insurance and yet is still largely unexplored in the literature. [ABSTRACT FROM AUTHOR]

Purpose – Using a recently compiled dataset on migration and remittances in Ghana, the purpose of this paper is to estimate the determinants of an individual's likelihood to be an internal migrant and the relationship between internal migration and welfare. Design/methodology/approach – The paper uses treatment regression techniques to assess the characteristics of Ghanaian migrants, the determinants of migration, and its impact on household welfare. Findings – The paper finds that the likelihood to migrate is determined by a combination of individual (pull) and community-level (push) characteristics. The probability of migration is higher for younger and more educated individuals, but communities with higher levels of literacy, higher rates of subsidized medical care, and better access to water and sanitation are less likely to produce migrants. It is found that households with migrants tend to be better off than similar households without migrants, even after controlling for the fact that households with migrants are a non-random sample of Ghanaians. However, the positive relationship is only true for households with at least one migrant in urban areas. Research limitations/implications – Clearly, if the authors had access to panel data, they would have been able to do something very nice and clean (on both theoretical and econometric grounds). Originality/value – This paper adds to the Ghana migration literature by offering a novel empirical assessment of the characteristics of Ghanaian migrants, the determinants of migration, and its impact on household welfare by drawing on a recently-assembled, nationally-representative sample of Ghanaian households. [ABSTRACT FROM AUTHOR]

Purpose - The purpose of this paper is to investigate how many rural women have access to finance. It also explores the additional constraint faced by them in accessing the credit. Design/methodology/approach - For the estimation purpose, multivariate logit regression is used, taking borrowing any credit as dependent variable. Findings - Results indicate that women lack easier access to formal credit and the socio-economic, cultural background of the family significantly impact probability of borrowing. More specifically, result indicates that female own age, marital status and employment bring self-confidence and reliability that encourage female borrowing. Research -limitations/implications - In the absence of any recent nation-wide data about micro-credit, cross-section survey, the Rural Financial Market Survey is used to examine the factors affecting the demand for borrowing. Practical implications - This paper proposes that government should implement education programmes in order to create awareness towards role of women in economic development. Moreover, to overcome the cultural constraints, information should also be disseminated through influential media. Originality/value - While it is widely recognized that, demand for credit is severely affected by socio-economic, cultural and personal characteristics, this has rarely been confirmed earlier. There are numbers of studies documented on borrowing all focus on the issue of formal and informal sources ignoring the above determinants. This paper attempts to do so. [ABSTRACT FROM AUTHOR]

Purpose - The purpose of this paper is to show the link between Islamic banking and microfinancing. Design/methodology/approach - The approach used in this paper is first to describe the basic principles of Islamic banking and microfinancing and then to show the link between the two financial practices. In general, it is believed that the two practices are not compatible since microfinance allows interest payments on loans and Islamic banking prohibits interest payment based on Islamic law, sharia. Both practices, however, promote equality and fairness for all members of the society and encourage entrepreneurship by giving collateral-free loans to the poor. The two practices, therefore, are ideologically linked. This paper shows that they are also practically linked. Findings - Islamic religious leaders usually dismiss microfinancing because microfinancing requires high-interest rate which is against Islamic law. This paper finds that it is possible to combine the two practices and to convince Islamic religious leaders that Islamic banking could be applied to microfinancing. Originality/value - Since microfinancing has been proven to help many poor people in different countries, the findings of this paper could be beneficial to the poor in some Islamic countries that do not practice microfinancing based on religious beliefs. [ABSTRACT FROM AUTHOR]

Purpose - The paper aims to study the role of norms and values in the microfinance sector. Design/methodology/approach - The paper provides a combination of narrative with argument and analysis. Findings - A classification of the sector is proposed, mapping the institutions along two axes: the profit motive (profit vs not.for-profit) and the decision-making style (centralized vs un.centralized). Some microfinance institutions base their interactions on rigid norms or rules; while others are based on values. It is argued that the private sector will tend to produce the operating rules of the microfinance system while the not-for-profit institutions that are using an inclusive decision-making process are more likely to influence the ethical norms in the sector. Nevertheless, this classification is not static as recent events in South-India shows that norms, such as the interest rates, can be politically and emotionally invested to the point that they are about to become values in the sector. Originality/value - The conclusions drawn help in understanding the interactions between the various actions in microfinance. Exploiting the full range of the possibilities of those different structures may be valuable for a fully successful development in India. [ABSTRACT FROM AUTHOR]

Purpose — To provide a deep understanding of success factors contributing to a micro-finance institution (MFI) in a developing country, e.g. Bank Rakyat Indonesia (BRI) and how MFI in developing country might learn from this success. Design/methodology/approach — This is a case study research which took place at BRI branches as well as its village units (unit desa). Data were gathered from both sides, e.g. from BRI and borrowers. The interviews, raging from in depth interviews to semi-structured interviews, were conducted in Jakarta and some rural cities mainly in Java and South Sulawesi between August and September 2003. Findings — Factor contributing to the success of BRI lay on the decision to keep adapting its practice with environmental changing. Also BRJ is very innovative in choosing collaterals so in one hand, the credit is still interesting for lower class community, but at the same time they work as compensation in case the clients fail to repay their credit and thus ensuring the sustainability of the MFI. Well-trained and dedicated staffs operating a simple, transparent system, clear incentives to staffs and clients, tight internal supervision and audit capacities and financial procedures and sound financial risk management contributes to its success as well. Research limitations/implications — The case study took place in a developing country, in Indonesia. Given that any developing country has unique environment and circumstances, this success model will not automatically transferable to any MFI in other developing countries. Any further research is needed to transfer BRI success elsewhere. Practical implications — A useful lesson learnt for national/international development agent which wants to set up a sustainable MFI to assist the poor and alleviating poverty. Originality/value — This is the first time that the investigation also took place on BRI village units in South Sulawesi, one of the most successful operational area of BRI village units. Thus, the implication of this research is true reflection of the success of BRI village units. [ABSTRACT FROM AUTHOR]

Purpose - The aim of this paper Is to outline some key features of China's new rules on anti-money laundering. Design/methodology/approach - This paper describes the expanded definition of "anti-money laundering"; the application of the rules to a broader group of financial institutions; the three required anti-money laundering systems (client identity recognition, retention of client identity documents and trading records, and reporting of large-sum transactions and suspicious transactions); the expected manner of anti-money laundering investigations by the Peopled Bank of China; liabilities for breach; and anti-money laundering regulations in the insurance and securities sectors. Findings - The paper finds that new anti-money laundering rules expand the definition of "anti-money laundering" broaden the scope of institutions to which anti-money laundering regulations apply, and establish more stringent requirements for the three key internal anti-money laundering systems that financial institutions and certain non-financial institutions must have: client identity recognition, retention of client identity documents and trading records, and reporting of large-sum transactions and suspscious transactions. Compared to the old rules, the new anti-money laundering rules impose more serious punishment on violations. Originality/value - The paper provides a detailed and readable reference on the new Chinese anti-money laundering regulations for those working in the China market and those who wish to compare these Chinese regulations with similar ones in other countries. [ABSTRACT FROM AUTHOR]

Abstract Purpose - The purpose of this research is to use an accountability framework to explain the emerging tensions in accountability and how an intended bottom-up approach became progressively supplanted. This paper is set within an emerging Zambian microfinance organisation moving into crisis. Design/methodology/approach - A series of semi-structured interviews were conducted with key local microfinance specialists, managers and accountants, clients and past and current loan officers. Live observation of the client-loan officer interface and internal meetings provided triangulation on accountability relationships in the midst of crisis. Data were analysed using NVTVO, a qualitative computer software package. Findings - The findings show that tensions between vertical and horizontal accountability in practice can be directly translated into heightened pressure and stresses on both the non-governmental organisation (NGO) and its loan officers, which constrain overall accountabilities to other stakeholders and disguise other potential dysfunctions. Research limitations/implications - This study focussed on accountability at the grassroots in microfinance NGOs with a social mission. It reveals potential for further personal, community and socially constituted accounting research within microfinance in particular. Originality/value - The paper adds to the literature on NGO accountability. It will be of value to researchers and practitioners seeking to gain a better understanding of not-for-profit organisations whose goals are not primarily wealth creation. It also gives details on under-researched areas in accounting, namely NGOs and poverty reduction, and practices in Sub-Saharan Africa. [ABSTRACT FROM AUTHOR]

Purpose - The purpose of the paper is to estimate wheat productivity in Bangladesh and forecast the future expected population and food requirements in the country by 2010. Design/methodology/approach- This paper reaches the objectives using total factors productivity approach, Box Jenkins approach, and sensitivity analysis for wheat farms in the country. The study used data on wheat during 1972–2002. Findings - In the existing situation, the national average level wheat yield was 1.9 MT/ha that was lower than any other stations. The reasons are late sowing, coupled with lack of seed quality, excess moisture at sowing, lack of fertilizer at reasonable price and timeliness at the farmers' level, and lack of capital. The total productivity grew at an average annual rate of 1.35 percent. Practical implications - The results show that the Bangladeshi government could increase the domestic wheat supply by 56.84, 115.79, 247.37, and 321.58 percent depending, respectively, on the applied model I–IV, that is much higher than the existing level of production. Originality/value - This paper brings together diverse views and fusing them together providing a future path for research and taking suitable policy for wheat production to meet the demand for food. [ABSTRACT FROM AUTHOR]

Purpose - To examine China's reforms and successes could have been replicated to other transition economies. Design/methodology/approach - The applicability of the Chinese process as an alternative for transition economies involves an analysis of the necessary reforms regarding price liberalisation-stabilisation privatisation; institutions; monetary policy and the financial system; fiscal policy; international trade and foreign aid and social policy. Findings - The transition process in China has maintained political-ideological authoritarianism and state control of the whole economy. Therefore, it was not the ‘special initial conditions’ of China that made the model inappropriate but, rather, the switch to a democratic political-ideological-economic structure in transition economies. Originality/value - The paper contributes to the transition literature by demonstrating that the strategy was only rendered workable in China, as the governments of transition economies neither had the mandate nor wanted to reimpose tight state direction of the politics, ideology and economy. [ABSTRACT FROM AUTHOR]