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Book Review Goenka, A. and D. Henley (Eds.). Southeast Asia’s credit revolution From moneylenders to microfinance. Milton Park, UK Routledge. 2010..doc

Book Review Goenka, A. and …

上传者: 那些稀松平常的对白已不在 2018-04-30 评分 0 0 0 0 0 0 暂无简介 简介 举报

简介:本文档为《Book Review Goenka, A. and D. Henley (Eds.). Southeast Asia’s credit revolution From moneylenders to microfinance. Milton Park, UK Routledge. 2010.doc》,可适用于高等教育领域,主题内容包含BookReviewGoenka,AandDHenley(Eds)SoutheastAsia’screditrevolutionFrommoneyl符等。

BookReviewGoenka,AandDHenley(Eds)SoutheastAsia’screditrevolutionFrommoneylenderstomicrofinanceMiltonPark,UKRoutledgeGoenka,AandDHenley(Eds)SoutheastAsia’screditrevolution:FrommoneylenderstomicrofinanceMiltonPark,UK:RoutledgeGoenkaandHenley'sappropriatelytitledcollectionofessaysoffersabroadperspectiveonfinancialinstitutionsinSoutheastAsiawithaspecificfocusonmicrofinance,whichtheeditorsdefineas“theprovisionoffinancialservicestothepoor,onascaleappropriatetotheirneeds”(GoenkaHenley,,p:hebroadaimofthebookasstatedintheintroductionis,“toevaluate,inacriticalspirit,themicrofinanceeperienceinSoutheastAsia”(p:nderstandinthemicrofinanceeperienceinSoutheastAsiaentailsanswerinthecentralquestionsofhowandwhythemicrofinancerevolutionwaspossibleandnecessaryintheregionThebookaimstoanswerthesequestionsandtoidentifyandunderstandoutcomesofthemicrofinancerevolutionforborrowersandlendersalikeNotably,thebookinvestigatesthedevelopmentandimpactofformalmicrofinanceinstitutions(MFIs)butdoesnotoverlooktheimportanceofinformalfinancialinstitutionsincludingmoneylenders,cooperatives,androtatingsavingsandcreditassociations(ROSCAs)thatfilltheformalfinancialinstitutionalvoidTheessaysofthecontributingauthorsprovideinsightsandexpertiseusingbothqualitativeandquantitativedatafromeconomic,sociological,anthropological,entrepreneurial,anddevelopmentalperspectivesinatrulyinterdisciplinaryapproachtothestudyoffinanceinSoutheastAsiaEachofthetwelvechaptersinthebookcontainsinterestingandimportantinformation,butspacedoesnotallowforathoroughdiscussionofeachchapterhereAdityaGoenkadiscussesthechallengesoffinancialintermediationamongruralpopulationsSpecifically,GoenkapointstotheproblemofinformationasymmetriesthatborrowershavemoreinformationabouttheirabilitytorepaythandolendersMaterialcollateralprovidesinsuranceagainstdefault,butthepoorwhoareoftenthetargetpopulationofmicrofinanceoftenhavenosuchcollateralGoenkaoutlinesstrategiesthatmightbeusedbylenderstoenforcecontractssuchasjointliability,progressivelending,andreputationmanagement,whichareparticularlypowerfulinhightransparencyruralsettingsEachofthesebypassesthematerialconstraintsuponthepoor,relyinginsteadonrelationshipsandreputationstoovercomeriskSubsequentchaptersofferspecifichistoriesofmicrofinanceTurnelloutlinesthehistoryofmicrofinanceinBurma,oneofthepoorestcountriesofSoutheastAsiaIncludedinthischapterisadescriptionofUnitedNationsDevelopmentProgramme(UNDP)povertyalleviationinitiativesaswellasMFIsfoundedbytheGrameenTrust,byPrivateAgenciesCollaboratingTogether(PACT),andbytheGroupedeRechercheetd’ÉchangesTechnologiques(GRET)ThemicrofinancesituationinBurmaisfragileowingtoundercapitalizationofMFIs,legalquestionssurroundinginterestrates,broadmacroeconomicinstability,risinginflation,andlittlesavingsmobilizationamonMFIborrowersIncontrast,Quiñones’accountofmicrofinanceinthePhilippinesisencouragingInthePhilippines,policyandregulationcreateacompetitivemarketandencourageinnovativeproductsForexample,theCenterforAgricultureandRuralDevelopment(CARD)establishedaruralbankthatisnowfullyselfsufficientSimilarly,“banksenaedinmicrofinanceoperations”(BEMOs:aswellas“microfinanceorientedbanks”(MOBs)aremakintheirwayintoeconomicallydepressedruralareasNonetheless,Quiñonesvoicesaconcernthat,likemicrofinanceelsewhere,theseinstitutionsarenotreachingthepoorestofthepoorJournalofInternationalandGlobalStudiesHansSeibelprovidesabriefhistoryofearlyEuropeanmicrofinanceincludingaccountsofinformalassociations,laterformalMFIsofIrelandandGermany,andadescriptionof“linkagesbanking”inIndonesiawherebyformalfinancialinstitutionsarelinkedtoinformalselfhelpgroupseitherdirectlyorindirectlybywayofanongovernmentalorganization(NGO)SteinwandsimilarlyprovidesahistoryofmicrofinanceinIndonesiaBywayofhistoricalcomparison,SteinwandofferssomelessonslearnedintheIndonesianmicrofinanceexperience,particularlyinregardstodecentralizedsmallbanksasbeingmoreaccessibletotheruralpoorthanarelarge,centralizedbanksHenleyalsoprovidesachapteronthehistoryofmicrofinanceinIndonesiaHenley’schapterincludessociologicalcontentpertainingtoshiftsinsentimentssuchas“communityspirit”andthemischaracterizationofindigenouspeoplesaseconomicallynaïveHenleypointsoutsomeimportantdistinctionsbetweenIndonesianmicrofinanceandotherMFIsSpecifically,henotesthefollowinguniquecharacteristicsofIndonesianmicrofinance:theuseofindividualloansratherthangrouploansthelackoffinancialinstitutionsandprogramsthatspecializeinservingwomen,whichisamainstreamstrategyofmanyMFIsandtheadministrativeadvantagesofstateownedMFIsHenleyconcludesthatdespitewidespreadpraisefortheBRI,microfinancewasnotsolelyresponsibleforpovertyalleviationinIndonesiabutratherwascoupledwithothereconomic,infrastructural,andtechnologicaldevelopmentsaswellasfavorablepoliticalandmacroeconomicconditionsOtherchaptersaremoreethnographicAppoldandThahndiscusscreditprovisioningamongVietnamesesmallbusinessesInthiscase,theauthorsarguethatsocialcapitalmustbeimportantincreditprovisioningbecausetherehasbeenrapideconomicgrowthbutthestatelacksthecapacitytoadequatelyadministercreditTheauthorsconcludethatwhilemicrofinanceiscrucialforstartingsmallbusinesses,creditisnotdeeplyorwidelyembeddedinthecommunityInstead,financialhelpoftencamefromfamilyintheformofintergenerationaltransferofwealthratherthancreditRelationshipsareusefulasasafetynet,buttheydonotcrossoverintothebusinesssphereChanandOwyong’schapterprovideafascinatingqualitativeaccountofChinesepawnshopsinSingaporeThepawnbrokercommunityinSingaporeis“closed,”andthemembersofthecommunitytypicallyknoweachotherorarerelatedTheserelationshipsarecharacterizedbycooperation,notcompetitionandpawnbrokersreduceinformationasymmetriesbysharinginformationamongthemselvesThepawnshopsofSingapore,likepawnshopseverywhere,meettheneedsofthepoorinwaysthatconventionallenderscannotByacceptinghouseholdremovablesascollateral,pawnshopsestablishameanstorecouplossesassociatedwithdefaultandeliminatecostsofmonitoringandcreditscreeningFurther,pawnshopsareabletomakesmallloanswithshortmaturitiesthatwouldbetoocostlyforabankSingzonandShivakotiwriteathoroughaccountofthefinancialchallengesfacedbyfarmersinNortheastThailandTheyemphasizeimportantvariablesthatareoftenoverlookedsuchasthegrowingimportanceofcashandtheassociatedriskofdebtamongcashpoorfarmers,thecostsassociatedwiththequalityoftheinfrastructureandthedistancetomarketwherefarmersselltheirproduce,theproblemoflimitedaccesstopublicsupportservicesandthegreaterrelianceonmiddlemenandmoneylenders,landdisputesrelatedtoownershipandusufructrights,andindebtednessresultingfromlowcropyieldsandincomeinthecontextofprimaryrelianceoncashcropsFinally,AmesandAmesdiscusstheimpactofmicrofinanceuseamongthewomenwhoareorangasli,orindigenouspeoples,ofMalaysiaSpecifically,theyfocusonthedevelopmentinitiativesofPersatuanPembantuanKristianMalaysia,TheMalaysianChristianAssociationforSoutheastAsia’sCreditRevolutionRelief(CARE)aswellasinformalmeansofgeneratingbusinesscapitalAsidefromtheoperationalmeasuresofsuccessoftheprogram(egincome,technology,linksofparticipantstothewidereconomy)theauthorsalsoaddresssomeimportantbutlesstangibleaspectsofmicrofinanceparticipationForexample,theentrepreneurialOrangAsliCAREparticipantswerehesitanttotaketheirproducetomarketbecausetheydidnotwanttobeseensellingtheirproductsthemselvesFurther,therewasareported“,ainoffailure”iftheyfailedtoselltheirproductsaswellasafearofgossipamongotherOrangAsliDespitethis,theauthorsconcludethatCAREhasresultedin,ositiveoutcomesatthecommunitylevelandthatwomen’saccesstocredithasopenupaccesstoothereconomicresourcesandclaimthat“em,owermentwasevident”inanumberofas,ectsof,artici,ants’economicandsociallives,EachofthesechaptersprovidesaglimpseofmicrofinancethroughouttimeandinavarietyofSoutheastAsianenvironmentsTheauthorswritefromadiversityofperspectivesandapproachtheissueusingqualitativeandquantitativemethodsandwithaneyetowardthehistoricaltrajectoryofinstitutionaldevelopmentImportantly,thebookincludesdiscussionsofinformalfinancialinstitutionsaswellassomeethnographicdatathathelpstocontextualizethemicrofinancerevolutionHowever,despitethespecificintentionofincludinginformalinstitutionsintheaccountsofmicrofinanceinSoutheastAsia,onlyafewchaptersthoroughlydiscussedparticipationininformalinstitutionsThisrelatestoanotherareaforimprovementofthebookaconsiderationoflocallyestablishedandoperatedfinancialinstitutionsthatextendmicrofinancetomembersofthecommunityInIndonesiainparticular,acountrythatwasamajorfocusoftheseessays,manypeoplehavehadlittleaccesstotheacclaimedprogramsoftheBRIandinsteadhavedevelopedtheirownformalandsemiformalinstitutionsAninvestigationofthisphenomenonelsewhereintheregionwouldbeinterestingAdditionally,framingMFIdevelopmentinthebroadereconomiccontextisimportantLivelihoodstrategies,especiallyinrurallocales,areinfluxaroundtheworldaspeoplefindthathouseholdagriculturalproductionisnolongeraviableoptionasplantationagriculture,logging,manufacture,andminingexpandThiseconomictransitioninfluencesdecisionsaboutwork,education,mobility,andwhetherornottousefinancialproductsAlthoughcashismoreimportantaspeopleinrurallocationsmovetowardofffarmlabor,noteveryoneisinclinedtopursueformalfinancialalternativesThereasoningbehindthesedecisionsisanareaformoreexplorationChristinaDames,PhDLindenwoodUniversitycdameslindenwoodedu

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