Income Distribution Commons^™

Does Microcredit Reduce Poverty? An Empirical Exploration In India, Aneel Karnani, Seema Sahai

Markets, Globalization & Development Review

Microcredit has grown dramatically over the last few decades and its supporters have made extravagant promises about its potential impact on reducing poverty. However, much recent research has shown that microcredit has no significant impact on reducing poverty. In this exploratory study we interview 205 clients of for-profit microcredit to better understand the causes of why microcredit has not lived up to its promise. We find the basic problem is that the lending policies of the microcredit organizations are designed to lower the costs and risks, and hence increase the profits of the organization, and are not responsive to the …

Invited Perspective - Nutritional Needs And Implications For Children In Subsistence Marketplaces, Nagendra Rangavajla

Subsistence Marketplaces

Today, while the number of stunted children is decreasing in all geographies, the progress is not consistent. Moreover, there is an increasing prevalence of overweight and obesity among children and adolescent. Globally, about half of all children under five do not receive essential nutrients, often unnoticed until too late. On the other end of the spectrum, the incidence of overweight and obesity in 5-19 year old has increased from 4% in 1975 to 18% in 2016 ¹. These trends reflect a ‘triple burden of malnutrition’, a burden that impacts the survival, growth, and development of children, and in turn, …

Invited Perspective - Engaging Aspirations To Nurture Communities, Kentaro Toyama

Subsistence Marketplaces

For subsistence communities, the question is whether aspirations can be applied to motivate behavior that is, on the one hand consistent with people’s aspirations, but which might otherwise be difficult to elicit. Could poorer households be encouraged to save, to spend more on their children’s education, or to act against unhealthy social norms? A couple of examples suggest this is not only possible, but highly successful in contexts where other appeals fail.

The Effect Of A Financial Crisis On Household Finances: A Case Study Of Iceland’S Financial Crisis, Axel Hall, Andri S. Scheving, Gylfi Zoega

Journal of Financial Crises

Iceland experienced a financial crisis in 2008–2009 when its banking system collapsed, the currency lost half its value, most businesses became technically insolvent, house prices fell, and household debt increased due to indexation to foreign currencies or the price level. This paper tells the story of the crisis and maps the losses to households using a dataset from tax returns that includes all taxpayers in the country and contains the value of housing, mortgage debt, disposable income, and net worth. For relative losses in net worth, the results show that families with children, especially those with parents aged between 24 …

Extension-Led Demonstration: Grameen Microfinance Methods And Capital Access For Low-Income Female Entrepreneurs, Mark A. Edelman

The Journal of Extension

A nonprofit community development financial institution and Extension collaborated to conduct a demonstration project to evaluate efficacy of Grameen peer-group microfinance methodology in addressing barriers faced by low-income women entrepreneurs in a small metro area. Program performance metrics achieved by 284 culturally diverse, low-income entrepreneurs (almost all women) over 5 years included a program loan repayment rate of 99%, increased average client income, bank savings accumulation, and increased opportunities for improved credit scores. Client survey responses indicated program methods developed confidence and skills in finances, leadership, and teamwork. Extension professionals may play various roles in such endeavors.

Subsistence Marketplaces: Journal, Knowledge-Practice Portal, And Organization, Madhu Viswanathan

Subsistence Marketplaces

Subsistence Marketplaces: Journal, Knowledge-Practice Portal and Organization

Investigating The Impact Of Widening Price Limits On Volatility: The Experience Of The Nigerian Stock Exchange, Mohmmed A. Yadudu

Bullion

This paper empirically evaluates the impact of return volatility from widening price limits from 5% to 10% on the Nigerian Stock Exchange(NSE) on September 18, 2012 using a Stochastic Volatility model in an event study framework. Using daily trading data from September 2010 to September 2014, the study finds that widening of price limits in the NSE has not increased volatility as feared by some regulators. Stocks with higher free floats and institutional ownership display lower volatility when price limits are widened. This suggests that smaller stock exchanges can improve market efficiency by widening price limits without increasing volatility. The …

Bank Loan Loss Provisioning During Election Years In Nigeria, Peterson Kitakogelu Ozili

Bullion

The paper investigates the behavior of loan loss provisions during election years in Nigeria. Election events create uncertainties in the business environment. Election and post-election events may amplify credit risks for banks, requiring banks to keep higher loan loss provisions. Using country-level data, it was revealed that the election year did not have a significant effect on the level of loan loss provisions in the Nigerian banking sector. However, the banking sector had high provisions when it is undercapitalized during election years.

The Oppressive Pressures Of Globalization And Neoliberalism On Mexican Maquiladora Garment Workers, Jenna Demeter

Pursuit - The Journal of Undergraduate Research at The University of Tennessee

The international economic trends of globalization and neoliberalism have exposed and enabled the exploitation of Mexican workers, especially women in the maquiladora garment industry. During the 1950s, globalization gave rise to the new international division of labor and transnational corporations (TNCs) that have offshored labor-intensive phases of production to developing countries, many of which have pursued export-led industrialization. Export processing in Mexico was encouraged in the 1960s by Item 807 of the U.S. Tariff Code and Mexico’s Border Industrialization Program. Especially following the Latin American debt crisis of the 1980s, advanced capitalist countries and International Financial Institutions foisted neoliberal structural …

Do We Need To Secure A Place At The Table For Women? An Analysis Of The Legality Of California Law Sb-826, Teal N. Trujillo

Journal of Legislation

No abstract provided.

Estimation Of Fiscal Multipliers And Its Macroeconomic Impact: The Case Of Nigeria, D. J. Penzin, E. T. Adamgbe

Economic and Financial Review

Fiscal multipliers are important tools for macroeconomic projections and policy design. However, very little is known about the size in developing countries, given the complexity of their estimation. The unavailability of reliable high frequency data and structural characteristics of these countries also make the estimation of fiscal multipliers difficult, in such countries. This paper estimated fiscal multipliers associated with government spending and tax-related revenue for Nigeria using quarterly data, spanning 1985: Q1 to 2015 Q4. The structural vector autoregression (SVAR) methodology suggested by Blanchard and Perotti (2002) was utilised in the model. The SVAR framework applied followed the approach by …

The Gettysburg Economic Review, Volume 11, Spring 2019

Gettysburg Economic Review

No abstract provided.

A Multifaceted View Of Ceo Compensation And Performance: A Case Study, John Nirenberg

Journal of Sustainable Social Change

This case addresses CEO pay, a topic that annually stimulates the question of whether or not executive compensation is based on performance or something else and why it is so high in absolute terms. The societal impact of the new class of executives among the largest companies in the United States set apart from the rest of the world in a cocoon of wealth and privilege inflames resentment among workers, widens an already unfathomable distance between those at the top and the rest of us, and endangers the social amity among citizens of the polity . Positive social change might …

The Gettysburg Economic Review, Volume 10, Spring 2017

Gettysburg Economic Review

No abstract provided.

The Nominalistic Principle: A Legal Approach To Inflation, Deflation, Devaluation And Revaluation, Alain H. Sheer

Georgia Journal of International & Comparative Law

No abstract provided.

The Golden Straightjacket Is Out Of Style, Lacey Germana

Best Integrated Writing

Germana’s review of Thomas Friedman’s The Lexus and the Olive Tree provides careful summary and critique of Friedman’s argument and passionately calls for a balance between increased standards of living and careful stewardship of the earth.

The Distribution Of Globalized Power, Rachel Canter

Best Integrated Writing

Canter reviews Thomas Friedman’s The Lexus and the Olive Tree and observes the dissonance between our notions of globalization and global society; she offers an alternate worldview that pays respect to regional cultures and values.

The Nexus Of Financial Deepening, Economic Growth, And Poverty: The Case Of Pakistan, Abdur Rehman Aleemi, Muhammad Azam

Business Review

This study investigates the nexus of financial development, economic growth, and poverty for Pakistan over a prolonged period of time, 1960- 2012. Autoregressive Distributed Lag (ARDL)-Bounds testing approach to co integration and Unrestricted Error Correction Model (UECM)along with VECM Granger causality have been applied to examine the long-run dynamic relationship among financial development, economic development and poverty. For that purpose, we have developed two models and adopted a new and relatively strong proxy for financial development. The results suggest that financial development negatively affects both long-run and short-run economic growth. However, financial development is found to be positively affecting per …

An Assessment Of Microlending Programs In The Alabama Black Belt Region, Md Z. Mutaleb, Ntam R. Baharanyi, Nii O. Tackie, Robert Zabawa

Professional Agricultural Workers Journal

Abstract

The objective of this study was to assess the impact of selected socioeconomic factors on microlending in the Alabama Black Belt. It used logistic regression to identify the link between borrower socioeconomic characteristics and loan repayment rate from existing and previous microloan programs. It was hypothesized that borrower gender, age, level of education, household income, and credit score has a major impact on loan repayment. The results of study indicated that only credit score had a statistically significant effect on loan repayment. This finding underscores the importance of credit score and credit repair management in existing microloan programs, given …

Conceptual Issues On Savings In Nigeria., A. J. Adam, A. V. Agba

Bullion

It is often held that capital accumulation is necessary and sufficient condition for growth and capital accumulation is almost synonymous with saving, hence the route to growth is then one of raising savings and smoothing consumption (Deaton, 1991). Savings is one of the key relevant macroeconomic variables in any economy. Its impact on the rate of capital accumulation, productivity and the degree of dependency of a nation on foreign capital and foreign ownership of domestic assets cannot be overemphasised. This paper reviews conceptual issues on savings behaviour in Nigeria. It also provided an analysis of the factors that may have …

Life Insurance As A Source Of Long-Term Savings In Nigeria: Regulator's Perspective., O. E. Chukwulozie

Bullion

Life insurance is an insurance contract in which the insured transfers, and the insurer assumes, the risk of death for a specified period of time. As in other insurance businesses, the insured transfers the risk to the insurer, and receives a life insurance policy, upon payment of a premium. The paper outlines the intrinsic benefits of life insurance, assess its performance in the Nigeria situation and examine what a regulator could do to facilitate its development. The paper reveals that, It was observed that there is an ongoing recapitalisation and consolidation programme which would boost the paid up share capital …

Real Sector Policy Measures In The Year 2000 Budget And Sector Performance Appraisal, Isa Yuguda

Bullion

The article attempts to give the major thrust of the 2000 Budget, itemize the strategies for achievement as well as assessing the real sector performance from January- June 2000. The author noted that the It is important to mention that the year 2000 Budget was conceptualised within the framework of the overall projected economic policy targets of Government up to 2003. ln this regard, it is expected that the provisions of the budget will run in line with such set targets which include, GDP growth rate of 10%, single digit inflation, 70% employment (formal & informal), household access to electricity …