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This paper is based on a systematic review of evidence of the impact of microfinance on the lives of poor women, men and children in sub-Saharan Africa. It focuses specifically on longer-term non-financial outcomes related to health and nutrition and education. The paper contrasts microfinance's early days' initially refreshing and encouraging promises of a development initiative that empowers people to help themselves while 'paying for itself' with a more gloomy picture that derives from the synthesis results of our systematic review. It presents two simple models that show the pathways from microfinance to increased investment in improved health and education, contrasting theory with our synthesis results. Our discussion highlights that thinking through microfinance makes it necessary to thoroughly investigate both the theory behind interventions and the evidence for their impact. It raises the essential question: Is microfinance about providing banking services to the unbanked, or is microfinance a development intervention that concerns itself with the attainment of long-term sustainable responses to high levels of poverty? [ABSTRACT FROM AUTHOR]

Despite the large economic and social benefits fisheries can offer to address Africa’s development needs, investment in African fisheries and aquaculture has been remarkably low. However, if fisheries and aquaculture are to meet the challenges of technological change, institutional reforms and resource mobilization needed in support of the sector’s development potential, fisheries stakeholders must make the case for investment much more clearly within the context of wider socioeconomic development. In this paper, we argue that the global consensus around the Millennium Development Goals (MDGs) offers an important opportunity to pursue this agenda in Africa. In particular the MDGs’ human development focus provides a compelling framework for articulating the comprehensive value of fisheries for poverty reduction and long-term socioeconomic development. The paper has two objectives. The first is to examine the direct and indirect links between fisheries and the individual MDGs, drawing together findings and lessons learnt from recent African case studies with relevant examples from elsewhere. The second is to translate these findings into recommendations for action in support of improved investments in fisheries aimed at increasing the overall development value of the sector. [ABSTRACT FROM AUTHOR]

Using panel data from Rural Peru we explore the role of institutional thickness on furthering the effects of key infrastructure investments on pro-poor growth. Institutional thickness is characterised here as the result of a combination of four interrelated characteristics: (a) the presence of organisations signalling collective action; (b) the degree of productive asset inequality; (c) the degree of inequality of opportunities and (d) the degree of political fragmentation. The paper shows that institutionally thick environments do contribute to amplify the effects of public infrastructure on income growth for those belonging to the poorest tercile, allowing poverty to be more responsive to growth. Copyright © 2011 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

This paper examines the trend, constraints, promotion, and prospects of investment – domestic investment, foreign direct investment, and private portfolio investment – in Africa. After identifying the importance of investment in Africa's economic development, it was shown that all forms of investment are low in Africa and hence inadequate for the attainment of the MDGs and poverty reduction in the continent. The constraining factors include: low resources mobilization; high degree of uncertainty; poor governance, corruption, and low human capital development; unfavorable regulatory environment and poor infrastructure, small individual country sizes; high dependence on primary commodities exports and increased competition; poor image abroad; shortage of foreign exchange and the burden of huge domestic and external debt; and undeveloped capital markets, their high volatility, and home bias by foreign investors. The paper recommends that successful promotion of both domestic, foreign direct and portfolio investment in Africa will require actions and measures at the national, regional, and international levels. It concludes that the prospects are bright. New and attractive investment opportunities are emerging in infrastructure, particularly as most African countries now encourage public/private partnerships for investments in this sector. In addition to privatization, renewed interest within Africa in undertaking regionally based projects and joint exploitation of natural resources is creating other investment opportunities. Apart from the fact that investment in Africa yields the highest returns, investment risk in the continent is declining. In addition, much progress has been made in recent years to improve the investment climate in Africa. All this is of course is not to deny that obstacles do remain hence economic reforms to enhance domestic investment would need to be complemented by measures to attract increased foreign capital. Critical in such endeavors must be efforts to improve governance in some countries as well as to eliminate socio-political violence in others and development of domestic capital markets, while government institutions must be modernized and upgraded. [ABSTRACT FROM AUTHOR]

This paper, based on a recent OED review of World Bank social fund projects, presents findings relating to two aspects of social fund performance that have been relatively under-researched in the social funds literature—the sustainability of benefits and the institutional development impacts. On sustainability, the review found that social fund facilities generally had staffing and equipment levels better or equal to those in comparator facilities although both types of facilities suffered from shortages. While there has been a learning curve, deficiencies were found in the requirements for ongoing operations and maintenance over the operational life of the investments. On institutional development impact, the review found that social fund agencies have developed capacity as effective and innovative organizations. Wider impacts on existing institutions, both positive and negative, need greater attention. Copyright © 2002 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

By focussing on human capital investment, the Mexican Oportunidade s program will influence the economic choices of the rural poor. To understand how beneficiaries may alter their behaviour as a result of this intervention, this paper uses administrative data to analyse the economic activities of the rural poor. Results indicate that investments in education are likely to shift recipients from agricultural wage employment towards non-farm wage employment. The magnitude of this impact will be influenced by household assets and by the location of the household. The results suggest the need for policies that complement the government's focus on human capital investment. Copyright © 2011 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Small-scale farmers in developing countries may become trapped in poverty by lack of the liquidity needed to make profitable investments. Increased access to credit could generate pro-poor economic growth if poor households are otherwise liquidity-constrained and if liquidity-constrained households benefit from the new financial services. Using household data from rural Tanzania, this paper presents evidence that increased finance for liquidity-constrained households could generate pro-poor agricultural growth, but that general expansion of financial services to households that have no access to credit would not effectively target lower income households or households whose farm activities are liquidity-constrained. Copyright © 2005 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

The New Partnership for Africa's Development (NEPAD) is a concerted effort by Africa's political leaders to develop a comprehensive and integrated strategic policy framework to raise current levels of socio-economic development and reduce high levels of poverty across the African continent. The NEPAD framework recognises the need for African countries to pool their resources together in order to enhance regional development and economic integration. To this end, NEPAD emphasises capacity building and also seeks to solicit and disburse funds towards infrastructural development programmes and poverty alleviation projects, among others. South Africa's involvement with the rest of Africa has increased significantly since 1994. Trade exports, foreign direct investment (both market and resource-seeking in nature) and public-private partnerships have mushroomed in many parts of the continent. Many South African firms are providing the financial impetus for the infrastructural development and rehabilitation of African economies. This paper discusses salient economic linkages between South Africa and the rest of Africa within the framework of NEPAD. South Africa is the economic hub of sub-Saharan Africa (and indeed of the African continent), with significant agricultural, manufacturing and services capacity. South African firms have invested in the development of a number of sectors in the rest of Africa, taking advantage of the new investment incentives offered by the NEPAD framework. The target sectors range from mining, the hospitality industry, engineering and construction, finance to telecommunications. These investments and economic involvements are crucial to the development of African countries and the relevant sectors that are important for the realisation of some of the objectives of NEPAD. [ABSTRACT FROM AUTHOR]

This study critically examines the effect of financial inclusion on life expectancy and infant mortality rates, and whether the effect is conditioned by possible threshold effects determined by the degree of income inequality and poverty levels. We draw our conclusions based on 61 developing and transitional economies in the period 2011–2017. Using an aggregate hybrid financial inclusion index, we show that financial inclusion exerts a direct positive effect on health outcomes. Furthermore, the effectiveness of financial inclusion as a policy tool to achieve better health outcomes is higher in societies where poverty and income inequality are more prevalent. These are significant findings from a policy perspective as greater financial inclusion offers the scope to invest in health capital and enhances the capacity for risk management among the most vulnerable populations in the face of health shocks. [ABSTRACT FROM AUTHOR]

Background: We assessed whether participation in Healthy Start Brooklyn's By My Side Birth Support Program—a maternal‐health program providing community‐based doula support during pregnancy, labor and delivery, and the early postpartum period—was associated with improved birth outcomes. By My Side takes a strength‐based approach that aligns with the doula principles of respecting the client's autonomy, providing culturally appropriate care without judgment or conditions, and promoting informed decision making. Methods: Using a matched cohort design, birth certificate records for By My Side participants from 2010 through 2017 (n = 603) were each matched to three controls who also lived in the program area (n = 1809). Controls were matched on maternal age, race/ethnicity, education level, and trimester of prenatal‐care initiation, using the simple random sampling method. The sample was restricted to singleton births. The odds of preterm birth, low birthweight, and cesarean birth were estimated, using conditional logistic regression. Results: By My Side participants had lower odds of having a preterm birth (5.6% vs 11.9%, P <.0001) or a low‐birthweight baby (5.8% vs 9.7%, P =.0031) than controls. There was no statistically significant difference in the odds of cesarean delivery. Conclusion: Participation in the By My Side Birth Support Program was associated with lower odds of preterm birth and low birthweight for participants, who were predominantly Black and Hispanic. Investing in doula services is an important way to address birth inequities among higher risk populations such as birthing people of color and those living in poverty. It could also help shape a new vision of the maternal‐health system, placing the needs and well‐being of birthing people at the center. [ABSTRACT FROM AUTHOR]

Conditional cash transfers ( CCTs) are often being promoted for their simultaneous advantages of short-term income protection and long-term human capital investments. Yet, existing evaluations have largely failed to test the underlying programme theory, and few empirical case studies have explored inherent contradictions and ambiguous consequences of this hybrid approach. To further understand the programmes' social policy implications, this study identifies and analyzes such ambiguities and paradoxical consequences in the case of Uruguay's CCT-programme, Asignaciones Familiares ( AFAM). Drawing on qualitative data from interviews with beneficiaries and members of the commission who designed the programme, this study reveals major paradoxes in AFAM's design and implementation caused by various endogenous factors. Relevant to social policy in general, and CCT-evaluations in particular, findings also indicate that the hybrid social assistance approach may have perverse effects on the programme's twin objectives. [ABSTRACT FROM AUTHOR]

Discusses various issues involving social funds. Importance of social funds in poverty reduction; Efforts of social funds to identify and execute the implementation of social investments; Impact of social funds on the operations of domestic institutions.

In this paper, I present a simple model for the simultaneous determination of income level and income distribution in the short run (Section I) and study the comparative statics of the model (II and III). Some interesting results emerge. In particular, a distinction is made between the consumption multiplier and the investment multiplier. This may have an important implication as to the appropriate choice of policy measures to effect a recovery. Essentially, the present model follows the Keynesian tradition of emphasizing the multiplier mechanism. But it avoids a fundamental inconsistency in the neo-Keynesian theories of income determination and distribution as discussed in the Appendix. [ABSTRACT FROM AUTHOR]

Abstract: The article evaluates prospects of the Basic Income (BI) as a development policy tool. While BI is a relatively new initiative within development policy, the article argues that it should be seen as a serious option in the future, given the changing geography of poverty and the findings from existing cash transfer schemes. The analysis is carried out as a synthesis of existing findings on BI pilot programmes, along with cash transfer instruments more generally. While not including new empirical data, the synthesis allows preliminary estimates on the likely impacts of abolishing conditioning and targeting in cash transfer schemes. Particular attention is paid to the notion of micro‐investment and the psychological conditions of micro‐investment. [ABSTRACT FROM AUTHOR]

Water, and Sanitation projects play an important role in alleviating water-related poverty in developing countries. There are several methodologies that will not only assess the performance of these projects but will also help to better identify the problem and its characteristics, and to improve the efficiency of the investment. The Water Poverty Index is one of them. It is a very useful tool that helps to measure water stress at the household level in a holistic way, and to identify priorities. It is important, however, to complement it with a Cost-Benefit Analysis that will take into account the costs of the project. A case study in Northern Colombia illustrates this point. [ABSTRACT FROM AUTHOR]

In the context of heightened interest in social business and a renewed focus on the performance of international aid, this article explores the role and place of aid in addressing poverty in relation to the rapidly growing social business regime. Research on the subject is surprisingly limited. The article begins by operationalizing the key concepts, and developing a conceptual framework by exploring the possible nexus points between aid alignment and social business. It then addresses a number of key dimensions of aid; notably, a comparative account of possible aid investment in social business vis-à-vis conventional projects and private sector enterprises; an examination of the realities on the ground of the social business projects; and policy implications of the study together with some recommendations. [ABSTRACT FROM AUTHOR]

Within current poverty reduction programmes, focus on the social-welfare millennium development goals is widening to embrace a concern with infrastructural investment, particularly for remote areas. The previously popular assumption that rural disadvantage can be remedied by road-building is resurfacing. Using survey data from Ethiopia, Zambia and Vietnam, this article explores how effective such investment is in addressing mobility and social-service accessibility in rural areas. The findings indicate that, in extremely remote areas, road improvements may catalyse the expansion of social-service provision, as evidenced in Ethiopia. However, given the poor's relative lack of motor vehicles and ability to pay for public transport, they are, by no means, a sufficient condition for enhancing the mobility of the rural poor. [ABSTRACT FROM AUTHOR]

A common factor that explains why agriculture causes too much environmental degradation, grows too slowly, and has been ineffective in reducing rural poverty is the generalized tendency by governments to under invest in public goods despite the high rates of return to such investments. A large share of rural public expenditures is deviated to private goods (mostly subsidies to the wealthy), which generally have low or even negative rates of return. Behind such an obviously aberrant choice are political economy forces; a highly unequal political lobby market leads to government policies that are biased in favor of economic elites and detrimental for both the environment and rural development. Globalization may affect this important distortion on the allocation of government expenditures in various ways. One such way is by restricting the ability of governments to repress the political mobilization of the poor to counter the almost unchallenged power of the elites in the lobby market. This may contribute toward creating conditions that are more consistent with sustainable and socially equitable development. [ABSTRACT FROM AUTHOR]

We use data from Nicaragua to examine the impact of award of registered and non-registered title on land values and changes in land-attached investment. Registration, acquisition through purchase, and agrarian reform title all are associated with significant increases in the value of plots. Receipt of registered title is found to increase land values by 30% and at the same time greatly increase the propensity to invest, bringing such investment closer to the optimum. In line with descriptive statistics indicating great demand for land right regularisation especially from the poor, this suggests that titling can have a positive distributional effect. At the same time, the legal validity and official recognition of the titles issued appears to be of great importance. [Copyright &y& Elsevier]

Poor countries are believed to be trapped in a vicious circle of poverty where low incomes lead to low savings and insufficient resources for investments. Foreign aid is supposed to boost investment and link poor countries to a virtuous circle of growth. But real per capita growth has not been present in the modern history of Kenya and Tanzania – even though foreign aid has increased many times over. Does the recent history in Uganda pave the way for new principles of efficient aid, or is it just a rare occasion of aid-induced behavioural change? [ABSTRACT FROM AUTHOR]

The article reports on the new Country Partnership Strategy for 2015-2017 developed by the World Bank Group's Board of Executive Directors for Cabo Verde. Topics include the amount of International Development Association resources to be provided by the World Bank to boost shared prosperity and to end poverty, the private sector investments in tourism and infrastructure to be pursued by the International Finance Corp, and World Bank's plan to enhance macro-fiscal stability .