Credit and credit institutions Books

Book SynopsisFormal financial systems are emerging rapidly in Africa, driven by rising financial literacy and technological innovation, and accelerated by informal savings groups that foster inclusive growth across the continent. While prevalent among the poor, the savings groups phenomenon extends to Africa’s growing, yet still fragile, middle class, underpinning economic resilience and providing a tool for community participation as well as cooperative entrepreneurial development. These groups are also becoming important agents for social and economic empowerment, independent of age and gender. Transforming Africa: How Savings Groups Foster Financial Inclusion, Resilience and Economic Development gives voice to the local and international agents of grassroots economic empowerment initiatives that thrive in Africa. Presenting a unique through in-depth empirical research into savings group activities in over a dozen African countries, this book explores savings groups through the lens of financial inclusion, reflecting on formal finance, economic and social outcomes. SG4Africa was launched in April 2018 to explore these dimensions of savings groups and provide novel, empirically-grounded research across different geographies in Africa. Led jointly by the Policy Experimentation; Evaluation Platform and the University of Johannesburg, the SG4Africa consortium includes members from more than a dozen African countries.Table of ContentsIntroduction; Dana T. Redford and Grietjie Verhoef Part 1. Conceptual chapters Chapter 1. High-End and Mid-Market Savings Groups: A Pan-African Phenomenon; James Atta Peprah and Dana T. Redford Chapter 2. The Role of INGOs in the Promotion of Saving Groups: Contribution by CARE International; George Muruka Chapter 3. Exploring Leadership Competences in Informal Savings Groups in Sub-Saharan Africa; Lenora Biche and Christian Wolf Chapter 4. Enhancing Women’s Empowerment through Savings Groups; Katherine Rickard Part 2. Country Chapters Chapter 5. Saving Groups in Burkina Faso; Sakola Djika Ali and Sako Siembou Chapter 6. Savings Groups in Cameroon; Cyrille Bertrand Onomo and Raphaël Nkakleu Chapter 7. Savings Groups in Cabo Verde; João António Furtado Brito Chapter 8. Savings Groups in the Democratic Republic of Congo: Country Contribution; Deogratias Bugandwa Mungu Akonkwa, Eddy Balemba Kanyurhi, Guillaume Bidubula Juwa, and Albert Masheka Hongo Chapter 9. Savings Groups in Urban Ethiopia; Konjit Hailu Gudeta, Atsede Tesfaye Hailemariam, and Bantie Workie Gessese Chapter 10. Ghana: Susu, Village Savings and Loans, Credit Union, Rotating Savings System; Christopher Boachie and Eunice A. Adu-Darko Chapter 11. Savings Groups in Guinea-Bissau; Ismael Mendes de Medina, Filipa Monteiro, and Ana Pinelas Pinto Chapter 12. Savings Groups in Kenya: A Contextualised Literature Review on Savings Groups in Kenya; David Mathuva Chapter 13. Mozambique; Graham Sherbut, Tiago Borges Coelho, and Eugénio Hélder E. Gujamo Chapter 14. Savings Groups in Nigeria; Ogechi Adeola, Ifedapo Adeleye, Garzali Muhammed, Babalola Josiah Olajubu, Chijioke Oji, and Oserere Ibelegbu Chapter 15. The Change Dynamics of Tontine in Senegal; Edoé Djimitri Agbodjan, Mawuli Couchoro, and Germain Lankoande Chapter 16. Savings Groups in South Africa; Grietjie Verhoef and Karen Hidden Chapter 17. Savings Groups in Uganda; Vincent Bagire and Sheila Namagembe

Read more less

Book SynopsisGrowth and Developmental Aspects of Credit Allocation: An Inquiry for Leading Countries and the Indian States focuses on bank credit and deposit within a variety of economies and specifically examines Indian states to demonstrate how these two financial components are linked to their income growths and levels of development. Examining the world economy on both macro and micro levels, Ramesh Chandra Das highlights the increase in current world output as well as its implications for financial indicators and human development across selected countries. Focusing on credit-deposit ratios, trends of credit, NPA, GDP, security investments, and the interconnections of credit with GDP and HDI, Das further locates the link between the financial and real sectors of the economy that amplifies their overall progress. Undertaking a micro level study of these indicators across different states in India, chapters also provide insight into credit concentration, including security investment by banks and the inequality in credit allocation, within an Indian context. Incorporating and applying modern economic theory, Growth and Developmental Aspects of Credit Allocation: An Inquiry for Leading Countries and the Indian States presents a ground-breaking perspective for those interested in banking, finance, macro- and microeconomics, as well as human development on a global scale.Table of ContentsForeword; Girijasankar Mallik Chapter 1. Historical Perspectives of the Countries Chapter 2. Trends of the Variables and Descriptive Statistical Analysis Chapter 3. Issues of Non-Performing Assets, Security Investments vis-à-vis Credit, GDP and HDI Chapter 4. Linkage of Credit with Income and Development of the Countries Chapter 5. Credit Elasticity and Equilibrium Relations of NPA and Investment with Credit, GDP and HDI Chapter 6. Convergence Analysis of Credit, GDP and HDI of the Countries Chapter 7. Branch, Deposit and Credit of Banks in Indian States Chapter 8. Trends of Bank Credit, NPA and Government Security Investments in India Chapter 9. Credit Convergence and Credit Inequality in Indian States Chapter 10. Linkages of Bank Credit with Output and HDI of the Indian States Chapter 11. Concluding Observations

Read more less

Book SynopsisThis book seeks to provide a coherent explanation as to why the policies of financial liberalization and financial intervention have been unable to achieve the goal of improving the access of borrowers to the loan market, irrespective of size. This is one of the prime criteria for achieving efficiency in the operation of the loan market and its failure has resulted in increased uncertainty and financial fragility.Santonu Basu develops an original theory of credit rationing which provides a theoretical explanation as to why neither policy has worked. He introduces two new concepts, namely credit standard and credit risk, in order to explain why bankers ration credit to some, while quite willingly offer loans to others. He then uses these two concepts to show why the implementation of either policy involves forcing or inducing the banking sector to relax its credit standard requirements. This in turn increases credit risk to an unprecedented level, thereby engendering either financial crisis or financial fragility. The author employs empirical evidence from both India and South Korea to demonstrate how these scenarios can unfold.Financial Liberalization and Intervention provides a comprehensive analysis of the uncertainty that prevails in the operation of the loan market. It will be welcomed by scholars and students of economics, policymakers, banking regulators and the financial sector as a whole.Trade Review'This delightful little book is highly recommended reading, since it presents a unique perspective and offers the reader up-to-date and in-depth insights into key issues of credit market uncertainty.' -- Sushanta K. Mallick, International Review of Applied Economics'This is a very interesting and informative book, and highly relevant for both developed and developing countries. The author synthesises a large amount of literature and makes an original contribution to the theory of credit rationing. This book is well argued, clearly written and deserves a close read.' -- Philip Arestis, The Levy Economics Institute of Bard College, USTable of ContentsContents: Preface 1. General Introduction 2. A Critical Review of the Literature on Credit Rationing 3. The Theory of Credit Rationing Revisited 4. Financial Liberalization 5. Intervention I: The South Korean Experience 6. Intervention II: The Indian Experience 7. Concluding Remarks References Index

Read more less

Book SynopsisThe explosive growth of the credit risk industry is symbolic not only of the rapid expansion of finance into new and global markets, but is also representative of a widespread shift. The securitization of risk and, in particular, its transfer through the resulting credit derivatives, has dramatically changed the ways in which both the world economy and the finance industry work. This authoritative collection of key papers provides an overview of the subject from its beginnings through to current scholarship in this area. While the experienced investigator will find this anthology a convenient collection of essential papers, the student new to the field will be quickly taken to the front lines of research. Consequently, this collection will be of interest to historians, researchers, and students.Trade Review'From both theoretical and practical perspectives, credit risk engenders many of the outstanding questions in finance; thus, the topic provides numerous opportunities for research and profit. Pricing and managing credit risk are broadly and deeply imbedded in the bedrock of present-day economics and finance. This collection, assembled by Willi Semmler and Lucas Bernard, provides both a comprehensive review of the state-of-the-art of this topic and an educational tool for the many practitioners and students in finance and financial engineering who are concerned with these problems.'BR>- Charles S. Tapiero, New York Polytechnic University, USTable of ContentsContents: Acknowledgements Introduction Willi Semmler and Lucas Bernard PART I FOUNDATIONS 1. Franco Modigliani and Merton H. Miller (1958), ‘The Cost of Capital, Corporation Finance and the Theory of Investment’ 2. Fischer Black and Myron Scholes (1973), ‘The Pricing of Options and Corporate Liabilities’ 3. Robert C. Merton (1974), ‘On the Pricing of Corporate Debt: The Risk Structure of Interest Rates’ 4. J.E. Stiglitz and A. Weiss (1992), ‘Asymmetric Information in Credit Markets and its Implications for Macro-Economics’ PART II MEASURING CREDIT RISK 5. Marius J.L. Jonkhart (1979), ‘On the Term Structure of Interest Rates and the Risk of Default: An Analytical Approach’ 6. John Hull and Alan White (1995), ‘The Impact of Default Risk on the Prices of Options and Other Derivative Securities’ 7. Dilip B. Madan and Haluk Unal (1998), ‘Pricing the Risks of Default’ 8. Michel Crouhy, Dan Galai and Robert Mark (2000), ‘A Comparative Analysis of Current Credit Risk Models’ 9. Kay Giesecke and Lisa R. Goldberg (2004), ‘Forecasting Default in the Face of Uncertainty’ PART III CREDIT DERIVATIVES AND MODELING 10. John C. Hull and Alan White (2000), ‘Valuing Credit Default Swaps I: No Counterparty Default Risk’ 11. John Hull and Alan White (2001), ‘Valuing Credit Default Swaps II: Modeling Default Correlations’ 12. Philipp J. Schönbucher (2001), ‘Factor Models: Portfolio Credit Risk When Defaults Are Correlated’ 13. Darrell Duffie (2005), ‘Credit Risk Modeling with Affine Processes’ 14. Keith Kuester, Stefan Mittnik and Marc S. Paolella (2006), ‘Value-at-Risk Prediction: A Comparison of Alternative Strategies’ PART IV CONTROL AND MANAGEMENT OF CREDIT RISK 15. Douglas J. Lucas (1995), ‘Default Correlation and Credit Analysis’ 16. Edward W. Frees and Emiliano A. Valdez (1998), ‘Understanding Relationships Using Copulas’ 17. Lars Grüne and Willi Semmler (2005), ‘Default Risk, Asset Pricing, and Debt Control’ 18. Francis A. Longstaff, Sanjay Mithal and Eric Neis (2005), ‘Corporate Yield Spreads: Default Risk or Liquidity? New Evidence from the Credit-Default Swap Market’ 19. Sanjiv R. Das, Darrell Duffie, Nikunj Kapadia and Leandro Saita (2007), ‘Common Failings: How Corporate Defaults are Correlated’ Name Index

Read more less

Book SynopsisProviding much needed context for current events like the sub-prime mortgage crisis, this timely book presents a vision of an economy evolved to greater dependence on consumer credit and analyzes the trade-offs and risks associated with it. While synthesizing the Keynesian theory of consumption with the Institutional theory of habit selection (brought up to date with new knowledge from evolutionary biology and neuroscience), this book represents an in-depth treatment of the macroeconomic dimensions of consumer credit and implications of recent financial innovations from a non-traditional economic approach.Some of the effects of consumer credit dependence include the potential for illiquidity in markets for debt-collateralized securities, sub-prime contagion, or the possibility of a Minsky-type debt deflation episode. The author also argues that a sharp increase in borrowing by US households over the past 20 years, aided by financial innovations such as the securitization of consumer loans and sub-prime lending, have lessened the harmful consequences of income inequality, and that the collapse of personal saving after 1993 is actually a gradual trend of consumer habits conforming to the imperatives of corporatism.The book's primary audience will be academic economists in sympathy with heterodox and pluralist approaches. It sets forth an institutional or 'top-down' theory of household spending behavior that should be of interest to readers in fields such as sociology, consumer or family studies, psychology, or anthropology. Much of the book is technically accessible for non-economists and students.Trade Review'. . . provides an excellent example of economic analysis using atypical analytical approaches. . . the book is very accessible, especially to readers with some grounding in economics. Mathematical models and empirical evidence are appropriately used and the writing is superb. Advanced undergraduates and graduate students should be able to follow the analysis and will benefit from seeing the alternative analytics at work. Of course economists of all stripes will find something useful in this book as will anyone with a strong interest in understanding the current economic crisis.' -- Richard V. Adkisson, The Social Science Journal'For those who do not mind a stimulating read, the book by Christopher Brown, Inequality, Consumer Credit and the Saving Puzzle, is recommended. . . the book is exciting, tracing the causes for the uncommonly low savings rate in American households. . . this book is written in nearly colloquial language and easily understood. It is divided into eight chapters, each of which addresses one theme group, respectively. The author evaluates in detail literary sources, and also examines alternative approaches, but always returns to his line of thought. Relationships that he perceives as important are exemplified through small models. In addition to that, he always attempts to support the central thesis with statistics. In particular, to read those statistics is very exciting. Conclusion: a book definitely worth reading.' -- Friedrich Thiessen, Bankhistorisches Archiv'Brown makes an important contribution to the field of consumer credit by presenting a broad view of the issues and problems associated with growing consumer credit habits, culture, and institutions. . . This book effectively uses a heterodox methodology, which will appeal to a wide audience of social scientists. Highly recommended.' -- R.H. Scott, ChoiceTable of ContentsContents: 1. Consumer Credit and Effective Demand 2. The Household Debt Surge and the Theory of Habit Selection 3. A Brief History of Innovation in the Consumer Credit Industry 4. The Saving Puzzle: A Closer Examination 5. Macroeconomic Aspects of Consumer Credit Dependence 6. Balance Sheet (Minsky) Effects: An Empirical Analysis 7. Consumerism, Inequality and Globalization 8. Final Remarks Index

Read more less

Book SynopsisSecured transactions reform, also known as collateral or pledge law reform, is increasingly seen as an important building block for economic development. The commonly held view is that the availability and cost of credit, as well as the efficiency of the market for secured credit, are directly influenced by the laws affecting secured transactions and their implementation. However, there is still a lot of confusion about this relatively complex and technical area of the law and its role in promoting access to credit and economic growth. The chapters presented here provide, for the first time, a comprehensive and cutting-edge view of the subject - from both a legal and economic perspective. They start at the macro level of financial systems, moving towards the behaviours of lenders (commercial banks and micro-lenders), policy options for government and the mechanisms of collateral law reform. By approaching the subject from different angles and experiences, the work advocates an inclusive approach to the subject where all stakeholders' interests can be taken into account. It addresses the question of what role laws and institutions can play to encourage access to credit. This book will be of primary interest to those involved in economic development and the interaction between law and economics, either for practical reasons (for example, working on reform or providing advice on investment in transition economies) or for research purposes.Trade Review'The book is unique. . . It brings together articles on the economics and the law of property rights, and combines these with case studies, observations of what works and what does not, and a checklist of things to watch for. . . This is a very useful book that should appeal to reformers working in the field, whether they are governmental officials trying to modernize their economies, or economists and lawyers working in developmental agencies. . . There are few other books or publications that bring together the views of experts working in this important, albeit somewhat neglected, are of financial sector plumbing.' -- William P. Armstrong, Banking and Finance Law Review'. . . a well-presented collection of interesting papers within which one finds a rich resource of information and perspectives on secured transactions reform from parts of the world which are often overlooked in comparative commercial law scholarship.' -- Noel McGrath, Journal of Business Law'. . . with its insightful analysis, interesting empirical studies and knowledgeable team of contributors, the book will be illuminating and useful not just for those interested in development, but also anyone who has anything to do with granting credit and taking security.' -- Dora S. Neo, Singapore Journal of Legal Studies'This is an excellent, unique book. The material is very well written and presented in a carefully thought-out, coherent way. It tells us a legal story of our own, unique time. Any lawyer working in transition economies, whether or not directly on reform projects, would find it of great interest. Even economists should perhaps take a look at it!' -- Roger McCormick, Law and Financial Markets ReviewTable of ContentsContents: Foreword PART I: ACCESS TO CREDIT AND SECURED TRANSACTIONS IN A GLOBAL WORLD 1. Turning the Key to Credit: Credit Access and Credit Institutions Florencio Lopez-de-Silanes 2. Policy Choices for an Efficient and Inclusive Financial System Thorsten Beck PART II: SECURED TRANSACTIONS LAW TO SUPPORT ACCESS TO CREDIT: A CASE FOR REFORM 3. The Economics of Collateral and of Collateral Reform Heywood Fleisig 4. Firm-level Evidence on Collateral and Access to Finance Mehnaz S. Safavian 5. Legal Efficiency of Secured Transactions Reform: Bridging the Gap between Economic Analysis and Legal Reasoning Frederique Dahan and John Simpson PART III: TAKING SECURITY IN PRACTICE: MICROFINANCE AND MORTGAGE 6. The State of Nature and Lending in an Unreformed Environment: Experience from Early Transition Countries Thomas Engelhardt and Benjamin Regitz 7. Use of Security in Challenging Environments: The Microfinance Perspective Martin Holtmann 8. Mortgages in Transition Economies John Simpson and Frederique Dahan PART IV: STORIES OF REFORM: LESSONS LEARNED AND REMAINING CHALLENGES 9. The Slovak Secured Transactions Reform: Ingredients of a Successful Reform and Reflection on its Achievements Katarína Mathernová 10. The Romanian Electronic Archive of Security Interests in Personal Property Diana Lupulescu 11. Challenges in Implementing Secured Transactions Reform in Latin America Nuria de la Peña 12. Recent Reform in France: The Renaissance of a Civilian Collateral Regime? Marie-Elodie Ancel Index

Read more less

Book SynopsisThis edited volume on "Credit, Currency, or Derivatives: Instruments of Global Financial Stability or Crisis" contains original papers that examine various issues concerning the role, the structure and functioning of credit, currency and derivatives instruments and markets as they relate to financial crises. We stress the importance of the inter-linkages of these instruments and markets in promoting or hindering financial stability or crises as well as government policies, on a local and global level. The papers in this volume highlight various aspects of credit and currency instruments and markets, along with their interactions, for the stability of domestic and international financial systems. Particular emphasis is given on the failures of regulatory systems and their implications for systemic financial crises. Also, the papers analyze the costs of financial crises and explore the institutional and economic arrangements that could ameliorate the adverse effects of financial crises in advanced and emerging-market countries.Table of ContentsList of Contributors. The US versus Asian financial crisis. The subprime market crisis, structured products in the securities credit markets, and hedge funds. Blame the bankers? An empirical study of cyclical credit quality. Regulatory use of credit ratings: how it impacts the behavior of market constituents. On regulating financial innovations. Important structural trends and developments in the foreign exchange and OTC derivative markets. Interaction between stock and exchange crises in emerging markets. Exchange rate changes and price dynamics in Poland: an empirical investigation. Russian Banking in Transition: Survey and Synthesis. Assessing sovereign bond portfolios: some risk measures. Currency Swaps and Australian Debt Management Practice. Evaluating the implicit guarantee to fannie mae and freddie mac using contingent claims. Effectiveness of Monetary Policy: Market Reactions and Volatility Interactions. Are microfinance institutions in developing countries a safe harbour against the contagion of global recession?. Trade credit during financial crises: Do negotiated agreements work?. From Wall Street to Main Street – A European perspective. Risk management lessons from madoff fraud. Returning agency back to finance: the critical role of politics and governance in financialization. International finance review. International Finance Review Volume 10. Copyright page.

Read more less

Book SynopsisCredit analysis is an important factor in judging investment value. Fundamentally sound credit analysis can offer more insight into the value of an investment and lead to greater profits. This study presents a professional framework for understanding and managing a successful corporate or municipal bond analysis, while providing informative case studies from well-known private and government organizations.Table of ContentsContributing Authors. SECTION I: FRAMEWORK. Why Does Credit Analysis Work? (M. Fridson). Review of Financial Statements (F. Fabozzi, et al.). Credit Analysis for Corporate Bonds (J. Howe). The Analysis of High-Yield Corporate Bonds (J. Howe). Basics of Fundamental Equity Analysis for High-Yield Credit Analysts (F. Fabozzi, et al.). Critical Failings of EBITDA as a Cash Flow Measure (P. Stumpp). Challenges in the Credit Analysis of Emerging Market Corporate Bonds (C. Taylor). Debt Covenants: Applications in Emerging Markets (A. Vine and D. Sohnen). Municipal Bond Credit Analysis (S. Feldstein). The Measurement of Prepayments and Defaults in ABS Markets (A. Bhattacharya). Understanding MBS/ABS Loss Terminology (T. Zimmerman). A Credit Intensive Approach to Analyzing Whole Loan CMOs (E. Toy). Mortgage Credit Analysis (J. Brown and W. Wadden IV). Credit Considerations in Analyzing Asset-Backed Securities: A Rating Analyst's Perspective (A. Silver). Credit Considerations in the Analysis of Asset-Backed Securities: A Research Analyst's Perspective (K. Weaver and S. Whitten). Considerations in the Credit Analysis of Commercial Mortgage-Backed Securities (J. Price and J. Story). Credit-Driven Prepayment and Default Analysis (M. Ervolini, et al.). AAA CMBS: Prospective Analysis to Manage Perception-Diminished Liquidity (M. Ervolini and A. Fazlullah). SECTION II: CASE SUDIES. Bergen Brunswig Corporation (F. Fabozzi). Einstein/Noah Bagel Corporation (S. Tufo). Sun Healthcare Group, Inc. (S. Tufo). Windmere-Durable Holdings, Inc. (A. Alaimo). CII Technologies, Inc. (A. Alaimo and A. Roulac). DESA International, Inc. (A. Alaimo and A. Roulac). Bruno's Supermarket (S. Lewis). Tevecap (B. Stannforth). Dao Heng Bank (A. Aran). CanFibre of Riverside, Inc., Project (M. Pisecki). Nassau County, New York General Obligations (S. Feldstein). Erie Tobacco Asset Securitization Corporation (C. Hicks). Yellowstone Energy Limited Partnetship Project (S. Haberer). Port of Walla Walla Public Corporation (J. Colombo). Wisconsin Helath Facilities Authority Healthcare Revenue Bonds--RFDF Project, Series 1997 (M. Ross). JFK International Air Terminal LLC Project (D. Frasca). Bank of America 1997-1 Manufactured Housing Asset-Backed Security (J. Brown and W. Wadden IV). Conseco 2000-XX ABS (K. Weaver and J. Nimberg). Index for Chapters.

Read more less

Book Synopsis

Read more less

Book SynopsisSmall businesses are the backbone of the U.S. economy. They are the biggest job creators and offer a path to the American Dream. But for many, it is difficult to get the capital they need to operate and succeed. In the Great Recession, access to capital for small businesses froze, and in the aftermath, many community banks shuttered their doors and other lenders that had weathered the storm turned to more profitable avenues. For years after the financial crisis, the outlook for many small businesses was bleak. But then a new dawn of financial technology, or “fintech,” emerged. Beginning in 2010, new fintech entrepreneurs recognized the gaps in the small business lending market and revolutionized the customer experience for small business owners. Instead of Xeroxing a pile of paperwork and waiting weeks for an answer, small businesses filled out applications online and heard back within hours, sometimes even minutes. Banks scrambled to catch up. Technology companies like Amazon, PayPal, and Square entered the market, and new possibilities for even more transformative products and services began to appear.In Fintech, Small Business & the American Dream, former U.S. Small Business Administrator and Senior Fellow at Harvard Business School, Karen G. Mills, focuses on the needs of small businesses for capital and how technology will transform the small business lending market. This is a market that has been plagued by frictions: it is hard for a lender to figure out which small businesses are creditworthy, and borrowers often don’t know how much money or what kind of loan they need. New streams of data have the power to illuminate the opaque nature of a small business’s finances, making it easier for them to weather bumpy cash flows and providing more transparency to potential lenders.Mills charts how fintech has changed and will continue to change small business lending, and how financial innovation and wise regulation can restore a path to the American Dream. An ambitious book grappling with the broad significance of small business to the economy, the historical role of credit markets, the dynamics of innovation cycles, and the policy implications for regulation, Fintech, Small Business & the American Dream is relevant to bankers, fintech investors, and regulators; in fact, to anyone who is interested in the future of small business in America. Trade Review“Karen Mill’s outstanding new book: FinTech, Small Business & the American Dream, a smart, savvy, and useful landscape of lending, fintech, and small business. Mills knows how the engine of small business powers the U.S. and her recommendations about how to sustain it through technology are thoughtful and direct. Her observations about how small banks can anchor communities are especially astute and important.” (Lawrence Gennari, Boston Business Journal, August 30, 2019)Table of Contents

Read more less

Book Synopsis

Read more less

Book Synopsis

Read more less

Book SynopsisInvestments in microfinance by institutional investors are growing. The investors benefit from a dual return investment opportunity by balancing financial and social returns. Yet, commercial microfinance institutions tend to focus on their financial performance. Reaching out to wealthier clients while crowding out poorer clients enhances their profitability - a phenomenon called mission drift. Pim Engels has analysed the data of 600 microfinance institutions operating in 84 countries and presents now new insights to the phenomenon of mission drift. Based on his findings investors can recognise and prevent mission drift taking place amongst the microfinance institutions in their portfolio.

Read more less

Book Synopsis

Read more less

Book SynopsisThe work highlights th multi dimensional credit factors of agrarian economy in Indian socio-political spectrum. It attempts to give an objective view of the rationale and the necessity of agricultural institutionalized loan system in prolific developmental activities.

Read more less