Finance

The Role of Subsidies in Microfinance: Evidence from The Grameen Bank

The Role of Subsidies in Microfinance: Evidence from The Grameen Bank
Journal of Development Economics, 60, October 1999, 229-248.

Morduch, J.
01/01/1999

Focuses on the role of subsidies in microfinance as evidenced by the Grameen Bank of Bangladesh. Difficulties in maintaining high repayment rates; Role of the bank in alleviating poverty; Recognition of the myriad benefits that have been attributed to program participation.

Using Adjusted Performance Measures for Evaluating Resource Use

Using Adjusted Performance Measures for Evaluating Resource Use
Public Budgeting and Finance, Volume 19, No. 3, Fall .

Stiefel, L., Schwartz, A.E. & Rubenstein, R.
01/01/1999

Public service organizations are looking for ways to improve the evaluation of performance and resource allocation. One of the approaches is to use adjusted performance measures, which attempt to Capture factors that affect the organizational performance but are outside of the organization's control. This article illustrates the construction and use of adjusted performance measures to assess the performance of public schools, and reports findings from a study of school-based budgeting in Chicago that relates adjusted performance measures and patterns of budget allocations.

Does Microfinance Really Help the Poor?: New Evidence from Flagship Programs in Bangladesh

Does Microfinance Really Help the Poor?: New Evidence from Flagship Programs in Bangladesh
Presented at Stanford, UC-Berkeley, University of Washington, RAND, University of Toronto, Princeton, and Yale. Research Program in Development Studies, Woodrow School of Public and International Affairs. June 1998.

Jonathan Morduch
06/27/1998

The microfinance movement has built on innovations in financial intermediation that reduce the costs and risks of lending to poor households. Replications of the movement’s flagship, the Grameen Bank of Bangladesh, have now spread around the world. While programs aim to bring social and economic benefits to clients, few attempts have been made to quantify benefits rigorously. This paper draws on a new cross-sectional survey of nearly 1800 households, some of which are served by the Grameen Bank and two similar programs, and some of which have no access to programs. Households that are eligible to borrow and have access to the programs do not have notably higher consumption levels than control households, and, for the most part, their children are no more likely to be in school. Men also tend to work harder, and women less. More favorably, relative to controls, households eligible for programs have substantially (and significantly) lower variation in consumption and labor supply across seasons. The most important potential impacts are thus associated with the reduction of vulnerability, not of poverty per se. The consumption-smoothing appears to be driven largely by income-smoothing, not by borrowing and lending.

The evaluation holds lessons for studies of other programs in low-income countries. While it is common to use fixed effects estimators to control for unobservable variables correlated with the placement of programs, using fixed effects estimators can exacerbate biases when, as here, programs target their programs to specific populations within larger communities.

Economic Crises: Evidence and Insights from East Asia

Economic Crises: Evidence and Insights from East Asia
Brookings Papers on Economic Activity Issue 2, p1-114, 114p.

Furman, J. & Stiglitz, J.E.
01/01/1998

Presents information on the financial crisis in East Asia. Causes of the crisis; Contrasting perspectives on East Asia's miracle and crisis; Economic impact of the financial and capital account liberalization of the 1980s to East Asia.

From Humanitarian Assistance to Human Development

From Humanitarian Assistance to Human Development
Washington, DC: Pan American Health Organization/WHO. .

Rodriguez-Garcia, R., Macinko, J. & Casas, J. (Eds.)
01/01/1998

Civil, political and military conflict--Natural and man-made disasters--Poverty and human suffering...As the new millennium approaches, the need for humanitarian assistance in response to these global challenges endures. Complex humanitarian emergencies demand human, financial and material resources on an international scale. This presents the global community, and particularly the health sector, with a formidable and daunting task: Faced with limited resources, how can organizations and actors simultaneously meet immediate humanitarian needs while maintaining their commitment to long term human development? More specifically, how can humanitarian relief and sustainable human development efforts be linked? From Humanitarian Assistance to Human Development responds and reacts to this question by serving as a forum for distinguished members of the health and development arena to present issues, policies and innovative programs in response. Divided into three sections, the book examines the humanitarian assistance-human development continuum within the global-policy context of human development, reviews humanitarian assistance as a social phenomena, highlights country experiences in Rwanda and Bosnia, and discusses means of relieving human suffering and restoring infrastructure and health and social services in the aftermath of conflict. In this thought-provoking, informative volume, the perspectives, experiences and proposals of specialists from academic institutions, national and international agencies and non-governmental organizations are united to help inform future policy, inspire programmatic action and, ultimately, bridge the gap between humanitarian assistance and human development.

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