Finance Against Poverty Volume 1

BOOK COVER......Page 1
HALF-TITLE......Page 2
TITLE......Page 3
COPYRIGHT......Page 4
CONTENTS......Page 5
FIGURES......Page 6
TABLES......Page 7
ABBREVIATIONS......Page 9
PREFACE......Page 14
INTRODUCTION......Page 17
THE GROWTH OF THE ‘OHIO ORTHODOXY’......Page 18
CRITIQUE......Page 20
THE WAY FORWARD?......Page 23
ORIGINS, SCOPE AND METHOD OF THE RESEARCH PROJECT......Page 27
NOTES......Page 30
WHY CREDIT MARKETS FAIL THE POOR......Page 32
FINANCIAL SUSTAINABILITY: THE REQUIREMENTS FOR ‘BREAK-EVEN’......Page 35
POSSIBLE TECHNIQUES FOR RISK REDUCTION......Page 38
Intensive loan collection and ‘incentives to repay’......Page 39
Savings schemes and loan insurance......Page 41
Group lending and other peer-monitoring devices......Page 43
CREDIT AND POVERTY IMPACT......Page 47
The investment function......Page 48
The ‘income creation’ function......Page 49
Poverty reduction......Page 50
THE COMPOSITE PICTURE: HYPOTHESES TO BE TESTED......Page 52
NOTES......Page 55
FINANCIAL PERFORMANCE AND ITS DETERMINANTS......Page 58
WHICH DESIGN FEATURES MATTER?......Page 63
PRINCIPLES OF DESIGN......Page 71
Loan collection methods......Page 73
Repayment incentives......Page 74
Savings and insurance arrangements......Page 80
POSITIONING IN THE CAPITAL MARKET......Page 85
THE SUBSIDY ISSUE......Page 94
NOTES......Page 98
INTRODUCTION......Page 102
IMPACT ON PRODUCTION AND INCOMES......Page 103
TECHNOLOGY, RISK AND LOAN IMPACT......Page 107
EMPLOYMENT EFFECTS......Page 118
NOTES......Page 122
INTRODUCTON......Page 123
FINANCE FOR THE POOR: IMPROVING INCOMES......Page 126
FINANCE FOR THE POOR: REDUCING VULNERABILITY......Page 133
Downward mobility pressures 1: Structural factors......Page 137
Downward mobility pressures 2: Crisis and contingency......Page 138
Downward mobility pressures 3: Life-cycle factors......Page 142
Women, women’s empowerment and gender relations......Page 143
The poor amongst the poor......Page 148
RECONCEPTUALISING ‘FINANCE FOR THE POOR’ AND ITS POLICY IMPLICATIONS......Page 149
CONCLUSION......Page 152
NOTES......Page 153
INTRODUCTION......Page 156
POLITICS AND POVERTY-FOCUSED FINANCIAL INTERMEDIATION IN THEORY......Page 157
The nature of the state......Page 160
The nature of domestic political economy......Page 162
The international environment and international agencies......Page 163
MANAGING THE POLITICAL ENVIRONMENT: INDIVIDUALS AND NASCENT INSTITUTIONS......Page 167
CAN THE TAIL WAG THE DOG?......Page 169
CONCLUSION......Page 171
NOTES......Page 172
INTRODUCTION......Page 174
A COMPARISON OF STRUCTURAL FEATURES......Page 175
MANAGING FIELD STAFF......Page 180
MANAGING BORROWERS AND SAVERS......Page 183
Solidarity group approaches......Page 186
Co-operative groups......Page 187
Individual approaches......Page 189
MANAGING THE ORGANISATION......Page 190
CONCLUSION......Page 193
NOTES......Page 194
THE ‘IMPACT-POSSIBILITY FRONTIER’: EVIDENCE......Page 196
CAN THE IMPACT-POSSIBILITY FRONTIER BE SHIFTED?......Page 199
WHAT POLICY OPTIONS ARE REALISTIC?......Page 211
NOTES......Page 214
APPENDIX: BASIS FOR CALCULATION OF DATA IN TABLE 8.5, PART III......Page 216
SUMMARY OF ARGUMENT AND RECOMMENDATIONS......Page 217
IMPLICATIONS......Page 219
NOTES......Page 223
BIBLIOGRAPHY......Page 225
INDEX......Page 234