Hans Dieter Seibel and Andrea Armstrong
- Published in print:
- 2006
- Published Online:
- May 2006
- ISBN:
- 9780199291922
- eISBN:
- 9780191603716
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199291926.003.0021
- Subject:
- Political Science, International Relations and Politics
Allocating reparation benefits to victims of civil rights abuses with a lasting effect on their well-being is a tremendous challenge. By converting benefit payments into shares and beneficiaries into ...
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Allocating reparation benefits to victims of civil rights abuses with a lasting effect on their well-being is a tremendous challenge. By converting benefit payments into shares and beneficiaries into shareholders of microfinance institutions (MFIs), the former victims become active partners of aid and owners of local institutions. In many countries, indigenous savings and credit associations are the only civil society institutions which have survived the breakdown of society, representing the social capital for the reconstruction of local financial institutions. In other countries, such institutions have to be newly built. In either case, experienced international NGOs may be instrumental in building or reconstructing MFIs owned by recipients of reparation payments. Part of the funding in a reparation program may thus be allocated directly to the victims-turned-shareholders, the other part to institution-building. Based on satisfactory performance of the MFI, the share capital may be augmented by donor grants and bank borrowings to increase the volume of loans to the user-owners for income-generating activities. In terms of sustainable impact, there is no alternative to institution-building.Less
Allocating reparation benefits to victims of civil rights abuses with a lasting effect on their well-being is a tremendous challenge. By converting benefit payments into shares and beneficiaries into shareholders of microfinance institutions (MFIs), the former victims become active partners of aid and owners of local institutions. In many countries, indigenous savings and credit associations are the only civil society institutions which have survived the breakdown of society, representing the social capital for the reconstruction of local financial institutions. In other countries, such institutions have to be newly built. In either case, experienced international NGOs may be instrumental in building or reconstructing MFIs owned by recipients of reparation payments. Part of the funding in a reparation program may thus be allocated directly to the victims-turned-shareholders, the other part to institution-building. Based on satisfactory performance of the MFI, the share capital may be augmented by donor grants and bank borrowings to increase the volume of loans to the user-owners for income-generating activities. In terms of sustainable impact, there is no alternative to institution-building.
Robert M. Townsend
- Published in print:
- 2006
- Published Online:
- September 2006
- ISBN:
- 9780195305197
- eISBN:
- 9780199783519
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195305191.003.0023
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This essay shows how credit markets influence development, and argues that the impact of improvements in credit markets is quantitatively significant. It begins by establishing the fact that access ...
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This essay shows how credit markets influence development, and argues that the impact of improvements in credit markets is quantitatively significant. It begins by establishing the fact that access to credit is limited, emphasizing the magnitudes. It then goes on to the potential importance of financial sector development, again quantifying the impact. The merits of different interventions are also discussed. The policy recommendations in this essay are based on estimated versions of the Thai reality, filtered through the lens of artificial environments, or what economists call models.Less
This essay shows how credit markets influence development, and argues that the impact of improvements in credit markets is quantitatively significant. It begins by establishing the fact that access to credit is limited, emphasizing the magnitudes. It then goes on to the potential importance of financial sector development, again quantifying the impact. The merits of different interventions are also discussed. The policy recommendations in this essay are based on estimated versions of the Thai reality, filtered through the lens of artificial environments, or what economists call models.
Ina Ganguli, Ricardo Hausmann, and Martina Viarengo
- Published in print:
- 2018
- Published Online:
- November 2018
- ISBN:
- 9780198829591
- eISBN:
- 9780191868115
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198829591.003.0009
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Microfinance institutions (MFIs) are commonly identified as empowering women and making them key actors in generating social change and economic development. Yet little is known about the gender ...
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Microfinance institutions (MFIs) are commonly identified as empowering women and making them key actors in generating social change and economic development. Yet little is known about the gender parity among employees within the lending institutions themselves and how this can impact development. While MFIs are increasingly important as employers in the developing world, there is little micro-level evidence about gender differences among MFI employees and MFIs’ relation to economic development. We use a unique panel dataset of employees from Latin America’s largest MFI to show that gender gaps favouring men for promotion exist primarily in the sales division, while there is a significant gender wage gap in the administrative division. Among loan officers in the sales division, the gender gap in promotion and wages reverses. Finally, female employees tend to work with clients with better loan terms and a history of loans with the institution.Less
Microfinance institutions (MFIs) are commonly identified as empowering women and making them key actors in generating social change and economic development. Yet little is known about the gender parity among employees within the lending institutions themselves and how this can impact development. While MFIs are increasingly important as employers in the developing world, there is little micro-level evidence about gender differences among MFI employees and MFIs’ relation to economic development. We use a unique panel dataset of employees from Latin America’s largest MFI to show that gender gaps favouring men for promotion exist primarily in the sales division, while there is a significant gender wage gap in the administrative division. Among loan officers in the sales division, the gender gap in promotion and wages reverses. Finally, female employees tend to work with clients with better loan terms and a history of loans with the institution.
Mary Tingerthal
- Published in print:
- 2014
- Published Online:
- August 2014
- ISBN:
- 9780199357543
- eISBN:
- 9780199381425
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199357543.003.0014
- Subject:
- Political Science, American Politics
This chapter examines the tool of securitization used to pool various forms of loans for sale to private investors, thus refreshing the capital available to primary lenders. Long available in the ...
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This chapter examines the tool of securitization used to pool various forms of loans for sale to private investors, thus refreshing the capital available to primary lenders. Long available in the standard capital markets, securitization has recently come to be used as well in the social-purpose capital markets to make it possible for primary lenders in these markets to extend additional loans in support of low-income housing, community development, charter school construction, and other purposes. The chapter provides a detailed description of the complex process involved in bringing a “rated” security to market and the role of various credit enhancements in generating the needed private-sector interest in social-purpose securitizations.Less
This chapter examines the tool of securitization used to pool various forms of loans for sale to private investors, thus refreshing the capital available to primary lenders. Long available in the standard capital markets, securitization has recently come to be used as well in the social-purpose capital markets to make it possible for primary lenders in these markets to extend additional loans in support of low-income housing, community development, charter school construction, and other purposes. The chapter provides a detailed description of the complex process involved in bringing a “rated” security to market and the role of various credit enhancements in generating the needed private-sector interest in social-purpose securitizations.
Margaret A. McLaren
- Published in print:
- 2019
- Published Online:
- August 2019
- ISBN:
- 9780190947705
- eISBN:
- 9780190947712
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780190947705.003.0004
- Subject:
- Philosophy, Feminist Philosophy
This chapter argues that cooperatives, because of their focus on both overcoming social oppression and economic exploitation, foster both economic and feminist empowerment for women. First, the ...
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This chapter argues that cooperatives, because of their focus on both overcoming social oppression and economic exploitation, foster both economic and feminist empowerment for women. First, the chapter discusses the neoliberal economic policies of globalization, which have a disproportionately negative impact on women. Because economic and gender inequality often coincide, projects to enhance women’s empowerment have focused on economic empowerment. This narrow definition of women’s empowerment does not address gender inequality and sexist oppression; nor does it take into account structural and social change. Development strategies to redress women’s economic vulnerability include access to microfinance institutions. However, an increase in material goods alone does not challenge the social, economic, and political structures that create poverty and social marginalization. Cooperatives explicitly promote social equality and challenge the individualism underlying other social institutions. Cooperatives intentionally develop leadership, challenge inequality, and foster the collective capacities needed to challenge structural oppression and systemic exploitation.Less
This chapter argues that cooperatives, because of their focus on both overcoming social oppression and economic exploitation, foster both economic and feminist empowerment for women. First, the chapter discusses the neoliberal economic policies of globalization, which have a disproportionately negative impact on women. Because economic and gender inequality often coincide, projects to enhance women’s empowerment have focused on economic empowerment. This narrow definition of women’s empowerment does not address gender inequality and sexist oppression; nor does it take into account structural and social change. Development strategies to redress women’s economic vulnerability include access to microfinance institutions. However, an increase in material goods alone does not challenge the social, economic, and political structures that create poverty and social marginalization. Cooperatives explicitly promote social equality and challenge the individualism underlying other social institutions. Cooperatives intentionally develop leadership, challenge inequality, and foster the collective capacities needed to challenge structural oppression and systemic exploitation.
Dean Karlan and Jacob Appel
- Published in print:
- 2018
- Published Online:
- January 2019
- ISBN:
- 9780691183138
- eISBN:
- 9781400883615
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691183138.003.0011
- Subject:
- History, Ancient History / Archaeology
This chapter examines a study conducted by a microfinance institution (MFI) where they began developing educational supplements for their client base of poor women on the topics of infant/child ...
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This chapter examines a study conducted by a microfinance institution (MFI) where they began developing educational supplements for their client base of poor women on the topics of infant/child health and business training. With tailored materials ready, the MFI launched the program in about half of its branches, using an “integrated model” in which loan officers delivered the trainings during their weekly repayment meetings. As it turned out, only a portion of the groups assigned to receive training were actually receiving it, and often at lower intensity than was intended. The underlying failure is that both problems—missed trainings and trainings given to the wrong groups—went unchecked for so long. Moreover, front-line staff members involved in the study faced competing priorities. If loan officers had been more aware of and invested in the research or managers more vigilant, they might have caught these challenges and addressed them before it was too late.Less
This chapter examines a study conducted by a microfinance institution (MFI) where they began developing educational supplements for their client base of poor women on the topics of infant/child health and business training. With tailored materials ready, the MFI launched the program in about half of its branches, using an “integrated model” in which loan officers delivered the trainings during their weekly repayment meetings. As it turned out, only a portion of the groups assigned to receive training were actually receiving it, and often at lower intensity than was intended. The underlying failure is that both problems—missed trainings and trainings given to the wrong groups—went unchecked for so long. Moreover, front-line staff members involved in the study faced competing priorities. If loan officers had been more aware of and invested in the research or managers more vigilant, they might have caught these challenges and addressed them before it was too late.
