Issues of International Finance in Developing Countries Financial Services and the Poor - Part 1
After decades of wasted efforts to support the poor by publicly subsidized financial institutions, micro-finance is offering a new hope to engage poor but productive people in profitable business. Out of many different institutional setups, a few standouts offer a good insight of this new way of project finance on a minimalist basis.
HINWEIS: Der Vortrag ist in englischer Sprache. Das Skript zum Vortrag umfasst 6 Seiten Text.
The consequence of those observations were the establishment of government financed institutions, mainly called agricultural development banks or rural credit institutions. After independence India was the first country that – after a comprehensive survey of rural credit needs - decided to engage in large scale public sector credit programs with low interest rates, as one of the major concerns of the country’s policy makers was to stimulate investment, modernization and economic growth at the countryside, where over 80% of the population resided at that time. Most other developing countries, which believed in a strong government role if not planning to foster economic growth and welfare followed suit.
The immediate effects seemed to be positive, as millions of farmers got access to credit for the first time in their lives. However, after a decade or two, those institutions were begging for further and ever increasing government funds and were allocating their credit to ev...
J. D. von Piscke, „Finance at the Frontier – Debt Capacity and the Role of Credit in the Private Economy“; Washington D. C.; 1991; ISBN 0-8213-1818-7
A collection of Research Papers by Members of the Staff of the International Monetary Fund, „The Monetary Approach to the Balance of Payments“; Washington D. C.; 1977
Latin Finance Magazine, „Latin America“ Coral Gables (U. S.)
Morris Goldstein, „The Asian Financial Crises: Causes, Cures and Systemic Implications“ (The Institute for International Economics); Washington D. C.; June 1998; ISBN 0-88132-261-X
The World Bank and The Oxford University Press, „Globalization and national financial systems“ (Edited by James A. Hanson, Patrick Honohan and Giovanni Majnoni); Washington D. C.; 2003; ISBN 0-8213-5208-3
The Asian Development Bank / ADB Institute, „Asia: Responding to Crises“