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Informal Finance
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Book Synopsis Informal Finance In Low-income Countries by : Dale W Adams
Download or read book Informal Finance In Low-income Countries written by Dale W Adams and published by Routledge. This book was released on 2019-03-04 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: Invisible to official statistics and operating outside the reach of governmental regulation, informal finance markets often prove more efficient and more fair than their formal counterparts. The authors of these studies emphasize the diversity and richness of informal credit markets.
Download or read book Informal Finance written by Prabhu Ghate and published by . This book was released on 1992 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: In most Asian countries, there exists a dynamic informal financial sector working side by side with formal finance, which has not until now been researched carefully. Informal Finance is based on a research project that examined informal finance in Bangladesh, India, Indonesia, the Philippines, and Thailand. The issues encountered in studying each country are discussed, as are regional diversity within countries and the differences between rural and urban areas. Rather than simply summarizing the five country studies on which it is based, Informal Finance presents a synthesis based on a common framework that permits cross-country comparisons.
Book Synopsis Informal Finance in China by : Jianjun Li
Download or read book Informal Finance in China written by Jianjun Li and published by . This book was released on 2009 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Informal finance consists of nonbank financing activities, whether conducted through family and friends, local money houses, or other types of financial associations. It has provided much-needed financing to small and medium enterprises (SMEs) in particular, in the face of a tightly constrained and overburdened formal banking system. Unable to obtain a bank loan, firms have relied upon individuals and informal organizations outside of the banking system to obtain financing for their ventures or working capital (operating funds). Presently there is a scarcity of information on informal finance in China and it is expected to have a significant impact upon GDP and money supply. This book, with contributions from leading scholars, describes the evolution, characteristics, and variation of informal finance in China from American and Chinese perspectives. Literature by Jiang Shuxia, Jiang Xuzhao, and Li Jianjun has heretofore been available only in Chinese, while work by Kellee Tsai, Jianwen Liao, Harold Welsch, David Pistrui, and Sara Hsu has been available in English. For the first time, they come together to discuss informal financing and its many aspects. Most of the essays are based upon original survey research conducted locally, as this type of data is not normally collected by the government. The papers pioneer the description and analysis of the nuances of informal finance from several perspectives; the authors look at the social, cultural, political, and economic causes of informal finance, its many variations, and its economic, personal, and political ramifications.
Book Synopsis formal versus informal finance: evidence from china by : Vojislav Maksimovic
Download or read book formal versus informal finance: evidence from china written by Vojislav Maksimovic and published by World Bank Publications. This book was released on 2008 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: China is often mentioned as a counterexample to the findings in the finance and growth literature since, despite the weaknesses in its banking system, it is one of the fastest growing economies in the world. The fast growth of Chinese private sector firms is taken as evidence that it is alternative financing and governance mechanisms that support China's growth. This paper takes a closer look at firm financing patterns and growth using a database of 2,400 Chinese firms. The authors find that a relatively small percentage of firms in the sample utilize formal bank finance with a much greater reliance on informal sources. However, the results suggest that despite its weaknesses, financing from the formal financial system is associated with faster firm growth, whereas fund raising from alternative channels is not. Using a selection model, the authors find no evidence that these results arise because of the selection of firms that have access to the formal financial system. Although firms report bank corruption, there is no evidence that it significantly affects the allocation of credit or the performance of firms that receive the credit. The findings suggest that the role of reputation and relationship based financing and governance mechanisms in financing the fastest growing firms in China is likely to be overestimated.
Book Synopsis The Global Findex Database 2017 by : Asli Demirguc-Kunt
Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
Book Synopsis Introduction To Microfinance by : Todd A Watkins
Download or read book Introduction To Microfinance written by Todd A Watkins and published by World Scientific Publishing Company. This book was released on 2018-04-05 with total page 427 pages. Available in PDF, EPUB and Kindle. Book excerpt: Microfinance has grown from the obscure efforts of a few philanthropic institutions into a global industry that reaches 150-200 million clients through the branches of thousands of institutions. Microfinance has matured from exclusively funding loans to providing savings, insurance, healthcare, and education. Yet many people still think of it narrowly as microcredit. Understanding remains thin of what the industry does, how it functions and why.Introduction to Microfinance provides a non-technical introduction to the broad array of inclusive financial and non-financial services for the world's poor. It explores the financial lives of those families, and the microfinance institutions and rapidly growing industry that serve them. Written in close collaboration with college students for college students, under the auspices of one of the US's leading undergraduate programs in microfinance, it is the first-ever introductory college textbook about microfinance.What is microfinance? What are its methods and why? Does it work? What are its prospects and challenges? Why is it controversial? This book tackles these questions and more.
Book Synopsis Handbook of Development Economics by : Dani Rodrick
Download or read book Handbook of Development Economics written by Dani Rodrick and published by Elsevier. This book was released on 2009-11-09 with total page 1066 pages. Available in PDF, EPUB and Kindle. Book excerpt: What guidance does academic research really provide to economic policy development? The critical and analytical surveys in this volume investigate links between policies and outcomes by surveying work from broad macroeconomic policies to interventions in microfinance. Asserting that there are no universal correspondences between policies and outcomes, contributors demonstrate instead that only an intense familiarity with the development context and the universe of applicable economic models can generate successful policies. Getting cause-and-effect right is essential for policy design and implementation. With the goal of drawing researchers and policy makers closer, this volume highlights our increasing understanding of ways to combine economic theorizing with careful, thoughtful empirical work. Presents an accurate, self-contained survey of the current state of the field Summarizes the most recent discussions, and elucidates new developments Although original material is also included, the main aim is the provision of comprehensive and accessible surveys
Book Synopsis Banks, Informal Money Lenders and Asymmetric Information by : Patrick Avato
Download or read book Banks, Informal Money Lenders and Asymmetric Information written by Patrick Avato and published by GRIN Verlag. This book was released on 2012-05 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2005 in the subject Economics - Monetary theory and policy, grade: A= 1,0, Johns Hopkins University (School of Advanced International Studies (SAIS)), course: Theories and Models of Economic Development, 29 entries in the bibliography, language: English, abstract: Credit markets in developing countries differ substantially from their counterparts in OECD countries. Apart from the obvious differences in institutional development, technology and productivity which are both measures for and causes of underdevelopment, typ ical LDC credit markets have two main characteristics. Firstly, their financial systems are very small compared those in industrial economies. Secondly, developing countries are characterized by very big informal financial sectors that coexist with formal credit institutions. Interestingly, credit contracts differ highly between these two sectors and there seems to be only very limited inter-sector competition. The following paper ventures to explain the persistence of these peculiarities in rural credit markets1 using the model of asymmetric information in credit markets developed by Stiglitz and Weiss. By applying the model specifically to LDC credit markets I show that asymmetric information is among the major reasons for the underdevelopment of rural credit markets. Building on these findings I then explain how Microfinance Institutions (MFI) have lately been able to overcome some of the problems of imperfect information and strive in markets formerly dominated by informal money lenders. The first part of this paper provides an overview of the typical characteristics of credit markets in developing countries, concentrating on the limited size of LDC credit markets and on the apparent dichotomy between formal and informal finance sectors. Then, the importance of financial systems for economic development is briefly outlined in order to explain the relevance of the topic of this essay. The main part of the paper then pre
Book Synopsis Informal Finance in Low-Income Countries by : Dale W Adams
Download or read book Informal Finance in Low-Income Countries written by Dale W Adams and published by Routledge. This book was released on 2020-09-30 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: Invisible to official statistics and operating outside the reach of governmental regulation, informal finance markets often prove more efficient and more fair than their formal counterparts. The authors of these studies emphasize the diversity and richness of informal credit markets.
Author :Pierre-Germain UMUHIRE Publisher :Presses universitaires de Louvain ISBN 13 :2875581988 Total Pages :240 pages Book Rating :4.8/5 (755 download)
Book Synopsis Informal Finance and Formal Microfinance by : Pierre-Germain UMUHIRE
Download or read book Informal Finance and Formal Microfinance written by Pierre-Germain UMUHIRE and published by Presses universitaires de Louvain. This book was released on 2013-05-22 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation endeavours to shed light on the paradox of the persistence of informal finance in urban African markets despite the emergence of a vibrant microfinance sector. To do so, it analyses the rationale of the financial choices of the micro-entrepreneurs operating in the markets of Ouagadougou (Burkina Faso). In particular, a careful examination of the motives driving the combinative use of informal and formal microfinance is carried. In order to lay deep theoretical foundations to this analysis, this thesis develops a model describing the financial behaviour of the micro-entrepreneurs in the presence of hyperbolic preferences and social influences. The solution of this model shows, inter alia, that the financial choices are not solely driven by economic motivations but also by social motivations. This result is confirmed by empirical observations which show, among other things, that social relations play an important role in explaining the persistence of informal finance. Besides, it appeared also that the combinative use of informal finance and microfinance can be explained, on the one side, by the fact that the motives driving the demand for informal and for formal finance are not always the same and, on the other side, by the fact that these two types of financial mechanisms are more likely to be used as complements than as substitutes. Ultimately, this thesis unfolds a new perspective for apprehending the coexistence of informal and formal microfinance. Informal finance is no longer considered as a makeshift, but as an integral part of the financial landscape of the Sub-Saharan urban financial markets. Therefore, microfinance institutions and policy makers ought to adopt a more positive and pro-active attitude vis-à-vis informal finance.
Book Synopsis Filling the Niche by : Ernest Aryeetey
Download or read book Filling the Niche written by Ernest Aryeetey and published by East African Publishers. This book was released on 1995 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis formal versus informal finance: evidence from china by : Vojislav Maksimovic
Download or read book formal versus informal finance: evidence from china written by Vojislav Maksimovic and published by World Bank Publications. This book was released on 2012 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: China is often mentioned as a counterexample to the findings in the finance and growth literature since, despite the weaknesses in its banking system, it is one of the fastest growing economies in the world. The fast growth of Chinese private sector firms is taken as evidence that it is alternative financing and governance mechanisms that support China's growth. This paper takes a closer look at firm financing patterns and growth using a database of 2,400 Chinese firms. The authors find that a relatively small percentage of firms in the sample utilize formal bank finance with a much greater reliance on informal sources. However, the results suggest that despite its weaknesses, financing from the formal financial system is associated with faster firm growth, whereas fund raising from alternative channels is not. Using a selection model, the authors find no evidence that these results arise because of the selection of firms that have access to the formal financial system. Although firms report bank corruption, there is no evidence that it significantly affects the allocation of credit or the performance of firms that receive the credit. The findings suggest that the role of reputation and relationship based financing and governance mechanisms in financing the fastest growing firms in China is likely to be overestimated.
Book Synopsis The Informal Financial Sector in Developing Countries by : Anand G. Chandavarkar
Download or read book The Informal Financial Sector in Developing Countries written by Anand G. Chandavarkar and published by . This book was released on 1987 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Access to Capital in Rural Thailand by : Xavier Gine
Download or read book Access to Capital in Rural Thailand written by Xavier Gine and published by World Bank Publications. This book was released on 2005 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The aim of this paper is to understand the mechanism underlying access to credit. Gine focuses on two important aspects of rural credit markets in Thailand. First, moneylenders and other informal lenders coexist with formal lending institutions such as government or commercial banks, and more recently, micro-lending institutions. Second, potential borrowers presumably face sizable transaction costs obtaining external credit. The author develops and estimates a model based on limited enforcement and transaction costs that provides a unified view of those facts. The results show that the limited ability of banks to enforce contracts, more than transaction costs, is crucial in understanding the observed diversity of lenders. This paper--a product of the Finance Team, Development Research Group--is part of a larger effort in the group to understand access to credit"--World Bank web site.
Book Synopsis Financing Patterns Around the World by : Thorsten Beck
Download or read book Financing Patterns Around the World written by Thorsten Beck and published by World Bank Publications. This book was released on 2002 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a firm-level survey database covering 48 countries, Beck, Demirgüç-Kunt, and Maksimovic investigate whether differences in financial and legal development affect the way firms finance their investments. The results indicate that external financing of investments is not a function of institutions, although the form of external finance is. The authors identify two explanations for this. First, legal and financial institutions affect different types of external finance in offsetting ways. Second, firm size is an important determinant of whether firms can have access to different types of external finance. Larger firms with financing needs are more likely to use external finance compared with small firms. The results also indicate that these firms are more likely to use external finance in more developed financial systems, particularly debt and equity finance. The authors also find evidence consistent with the pecking order theory in financially developed countries, particularly for large firms. This paper--a product of Finance, Development Research Group--is part of a larger effort in the group to understand firms' access to financial services.
Book Synopsis The Informal Financial Sector by : James J. Thomas
Download or read book The Informal Financial Sector written by James J. Thomas and published by . This book was released on 1992-01-01 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Informal Finance and Intermediation by : Heiko Schrader
Download or read book Informal Finance and Intermediation written by Heiko Schrader and published by . This book was released on 1996 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
