Financial Landscapes Reconstructed最新文献

英文中文

The Development of the Pawnshop Industry in East Asia 东亚典当业的发展

Financial Landscapes Reconstructed

Pub Date : 2019-03-11 DOI: 10.4324/9780429038891-21

M. Skully

引用次数: 6

Financial Landscapes Reconstructed 重建金融格局

Financial Landscapes Reconstructed

Pub Date : 2019-03-11 DOI: 10.4324/9780429038891

F. Bouman, O. Hospes

引用次数: 10

ROSCA and ASCRA: Beyond the Financial Landscape ROSCA和ASCRA:超越金融景观

Financial Landscapes Reconstructed

Pub Date : 2019-03-11 DOI: 10.4324/9780429038891-22

F. Bouman

引用次数: 8

Structuring Credit to Manage Real Risks 构建信贷以管理实际风险

Financial Landscapes Reconstructed

Pub Date : 2019-03-11 DOI: 10.4324/9780429038891-4

J. Von Pischke

引用次数: 0

Moneylenders and Merchant Bankers in India and Indonesia 印度和印度尼西亚的放债人和商业银行家

Financial Landscapes Reconstructed

Pub Date : 2019-03-11 DOI: 10.4324/9780429038891-20

H. Schrader

引用次数: 2

Informal Rural Finance: An Aladdin’s Lamp of Information 1 非正式农村金融:信息的阿拉丁之灯

Financial Landscapes Reconstructed

Pub Date : 2019-03-11 DOI: 10.4324/9780429038891-7

F. Bouman

引用次数: 0

Using Contracts to Analyze Informal Finance 用契约分析非正式金融

Financial Landscapes Reconstructed

Pub Date : 1992-10-01 DOI: 10.4324/9780429038891-11

D. W. Adams, F. Bouman, O. Hospes

For centuries discussions about informal finance have been filled with confusion and controversy (Nelson 1949)1. Moralists condemn it, politicians attempt to control and regulate it, sociologists debate its usefulness, economists dissect it looking for imperfections -while billions of people voluntarily participate in it. Fashioning a composite picture of informal finance is similar to summing the disjointed reports of judgmental blind people who have independently felt an elephant’s appendage; the parts depicted do not add to a coherent whole. This confusion justifies looking for new ways of analyzing informal finance, ways that do not prejudge the virtue of the activities and people involved, that employ common units of analysis, and that also apply research techniques representing the manner in which people make decisions. I propose using contracts as a framework for such analysis. Because of my professional interests I stress their economic aspects.

几个世纪以来，关于非正式金融的讨论充满了困惑和争议(Nelson 1949)。道德家谴责它，政治家试图控制和规范它，社会学家争论它的有用性，经济学家剖析它寻找缺陷——而数十亿人自愿参与其中。塑造一幅非正式金融的综合图景，类似于把那些独立感受大象附属物、有判断力的盲人的不连贯报告汇总起来;所描绘的部分并不能构成一个连贯的整体。这种混乱为寻找分析非正式金融的新方法提供了理由，这些方法不预先判断活动和所涉及的人的美德，使用共同的分析单位，并应用代表人们做出决策方式的研究技术。我建议使用契约作为这种分析的框架。由于我的专业兴趣，我强调它们的经济方面。

引用次数: 4

Consumption Credit in Rural Financial Market Development 农村金融市场发展中的消费信贷

Financial Landscapes Reconstructed

Pub Date : 1900-01-01 DOI: 10.4324/9780429038891-3

F. Heidhues, F. Bouman, O. Hospes

During the 1980s, there has been a fundamental shift from a supply-leading to a demand-oriented approach to the development of rural financial markets in developing countries. Dale Adams (1984) and his colleagues at Ohio State University provided increasingly persuasive evidence that the supply-leading approach to agricultural credit has failed. This approach was based on the assumption that the savings potential and the supply of finance in rural areas was insufficient for setting development in motion. Therefore, it was suggested to inject cheap funds from government and external sources into rural areas, regularly targeted at specified groups for predetermined productive purposes (investments, fertilizer, seeds, feed, etc.). Specialized, often stateowned agricultural banks, were established with the sole purpose of channelling production credit to a limited clientele. With many of these financial institutions failing, attention has shifted to building financial markets based on rural clients’ demand. The rationale of providing credit for production purposes was simple: credit, used to enhance the productive capacity of the borrower, will increase his future income, which, in turn, will allow him to pay interest and repay the loan. The actual performance of agricultural credit programs in many developing countries, particularly in Sub-Saharan Africa, seems to suggest that borrowers failed to follow this rationale on both accounts: the economic efficiency of credit use has often been low; the repayment performance has been poor. Many agricultural lending institutions operated with losses, and some collapsed when governments became unable to sustain them financially. Cheap credit policies, often implying negative real interest rates, have been seen to be an important contributor to institutional collapse (Adams 1984). Low interest rates make it difficult for commercial banks to mobilize savings. They tend to lower the margin on lending, causing banks to ration credit to a few and generally the larger and wealthier borrowers. Market determined interest rates are likely to reduce the lending bias towards large borrowers and to support the availability of credit for consumption purposes. The central argument of this chapter is that limiting credit to productive purposes is not only futile because of the fungibility of financial resources, but that it is also inappropriate and even counterproductive in the endeavor to build sustainable rural financial institutions. Providing production credit is only one of the three needs financial markets must address at the micro level. Failure to address the other needs will hamper financial market development. The chapter first discusses the functions financial markets have for rural households and then shortly addresses the difficulties in separating consumption and investment expenditure in rural households. Thereafter, a brief review of rural households’ needs for financial services follows. Based on surveys

在1980年代，发展中国家农村金融市场的发展发生了根本性的转变，从供应导向转向需求导向。俄亥俄州立大学(Ohio State University)的戴尔•亚当斯(Dale Adams, 1984)及其同事提供了越来越有说服力的证据，证明供应主导的农业信贷方法已经失败。这一办法所依据的假设是，农村地区的储蓄潜力和资金供应不足以推动发展。因此，建议从政府和外部来源向农村地区注入廉价资金，定期针对特定群体，用于预定的生产目的(投资、肥料、种子、饲料等)。专门的(通常是国有的)农业银行成立的唯一目的是向有限的客户提供生产信贷。随着这些金融机构中的许多倒闭，人们的注意力已经转移到建立基于农村客户需求的金融市场上。为生产目的提供信贷的理由很简单:信贷用于提高借款人的生产能力，将增加他未来的收入，这反过来又使他能够支付利息和偿还贷款。在许多发展中国家，特别是撒哈拉以南非洲地区，农业信贷项目的实际表现似乎表明，借款人在两个方面都未能遵循这一基本原理:信贷使用的经济效率往往很低;还款表现一直不佳。许多农业贷款机构亏损经营，一些机构在政府无法提供资金支持时倒闭。廉价的信贷政策，通常意味着负的实际利率，被认为是制度崩溃的一个重要因素(Adams 1984)。低利率使商业银行难以调动储蓄。它们往往会降低贷款的利润率，导致银行将信贷配给少数人，通常是规模更大、更富有的借款人。市场决定的利率可能会减少对大型借贷者的贷款倾向，并支持用于消费目的的信贷供应。本章的中心论点是，由于金融资源的可替代性，限制信贷用于生产目的不仅是徒劳的，而且在建立可持续农村金融机构的努力中也是不合适的，甚至适得其反。提供生产信贷只是金融市场必须在微观层面解决的三个需求之一。其他需求得不到满足将阻碍金融市场的发展。本章首先论述了金融市场对农户的作用，然后简要论述了农户消费支出与投资支出分离的困难。随后，简要回顾农村家庭对金融服务的需求。根据喀麦隆和贝宁的调查，将显示消费目的在信贷需求中发挥重要甚至主导作用。除了贷款服务，农村家庭对储蓄机会表现出强烈的偏好。同样明显的是，农村家庭认为金融市场提供了重要的保险功能。基于在贝宁和喀麦隆的实地调查，并考虑到其他具有消费信贷成分的创新信贷方案的经验，我们将试图表明，消费信贷导向的信贷方案在目标群体导向和外联方面表现良好，并且显示出比传统的以生产为导向的信贷方案更好或至少不差的还款结果。

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引用次数: 10

The Agrarian Question of Financial Landscapes: The Case of Ambon 金融格局中的农业问题:安邦的案例

Financial Landscapes Reconstructed

Pub Date : 1900-01-01 DOI: 10.4324/9780429038891-14

O. Hospes, F. Bouman

Every agro-ecological situation implies a specific pattern of production and a particular combination of savings, borrowing and insurance behavior of producers. Likewise, the strategies and services of agricultural traders and other financial intermediaries depend very much on the agro-ecological situation. Soil conditions, cropping patterns, water supply and drought might have a strong impact on the nature and number of financial services in rural areas of developing countries. Predictability, periodicity and diversity of agricultural production directly affect decisions of producers related to savings, borrowing and insurance. Platteau and Abraham (1987) argue that credit has evolved as a hunger insurance mechanism in fishing communities in India as a result of daily fluctuations of fishing incomes: a fisherman with surplus income lends money to his less fortunate fellow fishermen, who are supposed to help him in return when short of money and food. Southwold (1990) describes how coconut evolved as the major form of collateral for credit for securing food in a period of drought, failure of the paddy crop and restricted money circulation in rural Sri Lanka. The regular and relatively predictable income from coconut proved a solid base for copra traders and shopkeepers to supply credit in cash or goods to farmers. Borren (1986) reports the existence of different flows and forms of credit in three ecological zones in the Great Scarcies Area of Sierra Leone, each characterized by a particular cropping pattern. Van Nieuwkoop (1986) finds that in Malaysia, “Paddy farmers who have an income that is generated only once or twice a year use more informal credit than rubber farmers who have a much more regular income” (p.60). These observations would lead one to expect that the relationship between particular agro-ecological conditions and savings strategies, credit transactions and redistribution of risk, has been the subject of much research and policy debate. However, only a few empirical studies have explored this relationship, and it is questionable whether their findings have influenced policy debate at all. Of course, this question is only one of many issues which arise in the field of rural finance, that is, the complex of decisions of individuals and groups regarding insurance, savings and credit; services of financial intermediaries; and existing relations and conditions that affect these decisions and services (cf. Schmidt and Kropp 1987). However, even at a time when the role of agricultural credit as a development tool was widely discussed, this “agrarian question” was hardly addressed (AID Spring Review of Small Farmer Credit 1973). Yet the considerable difficulties in defining “the small farmer” would have provided ample reason to do so. Rice (1973) mentions that, “no single satisfactory definition is available to distinguish small farmers from medium and large farmers in all parts of the world” (p.3). However, this conclusion was not follo

每一种农业生态状况都隐含着一种特定的生产模式，以及生产者储蓄、借贷和保险行为的特定组合。同样，农业贸易商和其他金融中介机构的策略和服务在很大程度上取决于农业生态状况。土壤条件、种植模式、供水和干旱可能对发展中国家农村地区金融服务的性质和数量产生强烈影响。农业生产的可预测性、周期性和多样性直接影响到生产者有关储蓄、借贷和保险的决定。Platteau和Abraham(1987)认为，由于渔业收入的日常波动，信贷在印度的渔业社区已经演变为一种饥饿保险机制:收入过剩的渔民把钱借给运气较差的渔民，他们应该在缺钱和缺食物时帮助他作为回报。绍斯沃尔德(1990)描述了在斯里兰卡农村干旱、水稻作物歉收和货币流通受限的时期，椰子如何演变为获得粮食的主要信贷抵押品。椰子的定期和相对可预测的收入证明了椰子贸易商和店主向农民提供现金或货物信贷的坚实基础。Borren(1986)报告说，在塞拉利昂大稀缺地区的三个生态区存在着不同的信贷流动和形式，每个生态区都有一个特定的种植模式。Van Nieuwkoop(1986)发现，在马来西亚，“一年只能获得一两次收入的稻农比有更多固定收入的橡胶农使用更多的非正式信贷”(第60页)。这些观察结果将使人们期望特定农业生态条件与储蓄策略、信贷交易和风险再分配之间的关系一直是许多研究和政策辩论的主题。然而，只有少数实证研究探讨了这种关系，他们的发现是否影响了政策辩论，这是值得怀疑的。当然，这个问题只是农村金融领域出现的众多问题之一，即个人和群体在保险、储蓄和信贷方面的复杂决策;金融中介服务;以及影响这些决策和服务的现有关系和条件(参见Schmidt和Kropp 1987)。然而，即使在农业信贷作为一种发展工具的作用被广泛讨论的时候，这个“农业问题”也几乎没有得到解决(1973年国际开发署《小农信贷春季回顾》)。然而，界定“小农”存在相当大的困难，这为这样做提供了充分的理由。Rice(1973)提到，“没有一个令人满意的定义可以用来区分世界各地的小农、中型和大型农民”(第3页)。然而，在这一结论之后，并没有呼吁对信贷问题采取更具体的办法，考虑到具体地点的生态和农业经济环境。相反，赖斯向我们保证:

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引用次数: 2

When Credit Is Not Due: A Critical Evaluation of Donor NGO Experiences with Credit 当贷款到期:对非政府组织贷款经验的批判性评价

Financial Landscapes Reconstructed

Pub Date : 1900-01-01 DOI: 10.4324/9780429038891-10

C. Abugre, F. Bouman, O. Hospes

Consider this chapter as a critical assessment of the involvement of operational and donor NGOs with credit activities. It is drawn from ACORD’s2 direct experiences with designing and implementing various microcredit systems in 10 countries in Africa and through association with several local and international NGOs. Africa is the one place where many foreign NGOs like ACORD still operate directly in the field. Many local NGOs are more or less created by donor NGOs in their own image, or encouraged to serve as conduit for aid funds. Therefore, drawing upon the lessons of ACORD may not only be applicable to other northern donor NGOs, but to many African NGOs as well. It must be emphasized from the outset, however, that observations in this paper do not represent the totality of ACORD’s experiences but only those from which ACORD has drawn its own lessons. Like many development efforts, these lessons are very much the benefit of hindsight -learning from doing. It is in support of continuous improvement in the learning curve that this paper is directed. There has been no shortage of conferences on credit within NGO circles over the past few years. In most of these conferences, there has been much discussion about how to improve mechanisms for delivering credit to the poor or, at least improve their access to credit. Fewer have explored how to make the poor “bankable”, meaning how to mobilize savings. Fewer still have discussed how and when not to provide credit, or how not to destroy the financial systems of the poor. It was not long ago that NGOs3 concentrated mainly on the provision of welfare services. From a hands-off credit attitude in the 1950s and 1960s, based partly on a belief that interest-earning credit was usurious and therefore unethical, the 1970s represented a major u-turn. There was a visible shift from emphasis based on the provision of welfare and relief services towards increasing production and incomes by which the poor would provide for themselves in the future (sustainability), enabling the donor NGO or organization to build in a “withdrawal” time-table. The shift towards production and income generation was also brought about by the realization that welfare services alone did not seem to be creating a fast enough impact on poverty alleviation. Credit became a central plank of this approach, together with skill training, organizational and marketing support. NGOs arguing that the poor are creditworthy, became vehicles for transmitting large volumes of financial services to the poor. According to international donor agencies, NGOs offer less risk, are closer to the poor and more trusted by them (Remenyi 1991; IFAD 1987). Others occasionally slapped a credit component onto an already complex set of activities as if credit was simply a bundle of used clothing meant to be briefly worn and rapidly discarded. Yet, while the role of NGOs in the provision of financial services is growing by the day, the evaluation of their performances

将本章视为对业务非政府组织和捐助非政府组织参与信贷活动的重要评价。它是根据ACORD在非洲10个国家设计和实施各种小额信贷系统的直接经验，并通过与几个当地和国际非政府组织的合作而得出的。非洲是许多像ACORD这样的外国非政府组织仍然在实地直接运作的地方。许多地方非政府组织或多或少都是由捐赠型非政府组织按照自己的形象创建的，或者被鼓励充当援助资金的渠道。因此，借鉴accord的经验教训可能不仅适用于其他北方捐助非政府组织，也适用于许多非洲非政府组织。然而，必须从一开始就强调，本文中的观察结果并不代表ACORD经验的全部，而只是ACORD从中吸取的教训。像许多开发工作一样，这些经验教训在很大程度上是事后诸葛亮——从实践中学习。本文旨在支持学习曲线的持续改进。在过去的几年里，NGO圈子里不乏关于信贷的会议。在这些会议中，大多数都讨论了如何改善向穷人提供信贷的机制，或至少改善他们获得信贷的机会。很少有人探索如何使穷人“可融资”，即如何调动储蓄。讨论如何以及何时不提供信贷，或者如何不破坏穷人的金融体系的人就更少了。不久以前，非政府组织主要集中于提供福利服务。20世纪50年代和60年代，人们对信贷采取不干涉的态度，部分原因是人们相信，计息信贷是高利贷，因此是不道德的。70年代，人们的态度发生了重大转变。有一种明显的转变，从强调提供福利和救济服务转向增加生产和收入，使穷人将来能够自给自足(可持续性)，使捐助的非政府组织或组织能够制订一个“撤出”时间表。转向生产和创造收入的另一个原因是，人们认识到，单靠福利服务似乎不能对减轻贫穷产生足够快的影响。信贷与技能培训、组织和营销支持一起成为这一方法的核心。非政府组织认为穷人是有信用的，成为向穷人提供大量金融服务的工具。根据国际捐助机构的说法，非政府组织提供的风险较小，更接近穷人，更受他们信任(Remenyi 1991;农发基金1987)。还有一些公司偶尔会在一套已经很复杂的活动中加入信用成分，就好像信用只是一捆旧衣服，可以短暂地穿过，然后迅速丢弃。然而，虽然非政府组织在提供金融服务方面的作用日益增强，但对其业绩的评价尚未有系统地进行。这篇论文证明，正如“承认有病不等于改邪归正”一样，非政府组织仍然没有接受金融市场自由化的想法。它们仍然不愿收取正的实际利率，有意或无意地破坏传统金融体系，而且在很大程度上缺乏提供可持续金融服务所需的纪律。毕竟，捐赠型非政府组织是慈善事业的产物，相对容易获得公共资金。向他人提供轻松资金的冲动是根深蒂固的(见塞贝尔，第二章)。

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