{"title":"非正式融资还是债务陷阱:新兴经济体实现了联合国可持续发展目标吗?","authors":"A. Manzilati, Silvi Asna Prestianawati","doi":"10.1108/ribs-01-2021-0011","DOIUrl":null,"url":null,"abstract":"\nPurpose\nThis paper aims to provide new insights into the financing system used in emerging economies and how they related to UN Development Goals for sustainable development. The study focuses on small businesses’ informal financing options and whether these lead the borrower into a debt trap.\n\n\nDesign/methodology/approach\nThe study uses the example of small-medium fisheries in Indonesia to highlight the formal/informal financing options availed by the businesses and their relationship with the lender. The authors use the qualitative method with a phenomenology approach and interview key stakeholders in the sector.\n\n\nFindings\nThe authors find that the set interest repayments and the checks and balances involved in judging the borrower’s creditworthiness make the formal due to the strict requirements. Instead, the fishermen rely on the informal financing system and borrow from the mapak – a person who lends money on the condition that the fishermen’s catch will be sold to the lender as repayment.\n\n\nResearch limitations/implications\nThis study focuses on the financing system in emerging economies. Using the coastal business areas in the Indonesian fishing sector, the authors highlight the informal financing system and the potential debt trap. Future research could extend and study this issue in other industries and geographic regions to test whether emerging economies meet their targets and commitments under the UN Sustainability Development Goals. Emerging markets like Indonesia have a unique model of financing system and their business structure. Three conditions are highlighted in the financing system of business in coastal areas, namely, informal financing, close market access and social capital.\n\n\nOriginality/value\nThis study addresses financial inclusion and whether the UN Sustainability Development Goal 8 is being met in emerging economies. The study is one of the few to address this issue and highlights that emerging economies are yet to take concrete steps to make the formal financing sector more inclusive to achieve poverty alleviation.\n","PeriodicalId":45046,"journal":{"name":"Review of International Business and Strategy","volume":null,"pages":null},"PeriodicalIF":3.2000,"publicationDate":"2021-11-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"3","resultStr":"{\"title\":\"Informal financing or debt traps: are the UN sustainable development goals being met in emerging economies?\",\"authors\":\"A. Manzilati, Silvi Asna Prestianawati\",\"doi\":\"10.1108/ribs-01-2021-0011\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"\\nPurpose\\nThis paper aims to provide new insights into the financing system used in emerging economies and how they related to UN Development Goals for sustainable development. The study focuses on small businesses’ informal financing options and whether these lead the borrower into a debt trap.\\n\\n\\nDesign/methodology/approach\\nThe study uses the example of small-medium fisheries in Indonesia to highlight the formal/informal financing options availed by the businesses and their relationship with the lender. The authors use the qualitative method with a phenomenology approach and interview key stakeholders in the sector.\\n\\n\\nFindings\\nThe authors find that the set interest repayments and the checks and balances involved in judging the borrower’s creditworthiness make the formal due to the strict requirements. Instead, the fishermen rely on the informal financing system and borrow from the mapak – a person who lends money on the condition that the fishermen’s catch will be sold to the lender as repayment.\\n\\n\\nResearch limitations/implications\\nThis study focuses on the financing system in emerging economies. Using the coastal business areas in the Indonesian fishing sector, the authors highlight the informal financing system and the potential debt trap. Future research could extend and study this issue in other industries and geographic regions to test whether emerging economies meet their targets and commitments under the UN Sustainability Development Goals. Emerging markets like Indonesia have a unique model of financing system and their business structure. Three conditions are highlighted in the financing system of business in coastal areas, namely, informal financing, close market access and social capital.\\n\\n\\nOriginality/value\\nThis study addresses financial inclusion and whether the UN Sustainability Development Goal 8 is being met in emerging economies. The study is one of the few to address this issue and highlights that emerging economies are yet to take concrete steps to make the formal financing sector more inclusive to achieve poverty alleviation.\\n\",\"PeriodicalId\":45046,\"journal\":{\"name\":\"Review of International Business and Strategy\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":3.2000,\"publicationDate\":\"2021-11-05\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"3\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Review of International Business and Strategy\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1108/ribs-01-2021-0011\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"BUSINESS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Review of International Business and Strategy","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1108/ribs-01-2021-0011","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"BUSINESS","Score":null,"Total":0}
Informal financing or debt traps: are the UN sustainable development goals being met in emerging economies?
Purpose
This paper aims to provide new insights into the financing system used in emerging economies and how they related to UN Development Goals for sustainable development. The study focuses on small businesses’ informal financing options and whether these lead the borrower into a debt trap.
Design/methodology/approach
The study uses the example of small-medium fisheries in Indonesia to highlight the formal/informal financing options availed by the businesses and their relationship with the lender. The authors use the qualitative method with a phenomenology approach and interview key stakeholders in the sector.
Findings
The authors find that the set interest repayments and the checks and balances involved in judging the borrower’s creditworthiness make the formal due to the strict requirements. Instead, the fishermen rely on the informal financing system and borrow from the mapak – a person who lends money on the condition that the fishermen’s catch will be sold to the lender as repayment.
Research limitations/implications
This study focuses on the financing system in emerging economies. Using the coastal business areas in the Indonesian fishing sector, the authors highlight the informal financing system and the potential debt trap. Future research could extend and study this issue in other industries and geographic regions to test whether emerging economies meet their targets and commitments under the UN Sustainability Development Goals. Emerging markets like Indonesia have a unique model of financing system and their business structure. Three conditions are highlighted in the financing system of business in coastal areas, namely, informal financing, close market access and social capital.
Originality/value
This study addresses financial inclusion and whether the UN Sustainability Development Goal 8 is being met in emerging economies. The study is one of the few to address this issue and highlights that emerging economies are yet to take concrete steps to make the formal financing sector more inclusive to achieve poverty alleviation.
期刊介绍:
Review of International Business and Strategy is keen to present contemporary and innovative research that proposes new perspectives or challenges existing theories, and that advances the understanding of issues related to international business and global strategy. Themes covered by the journal include (but are not limited to): Internationalization of firms and international entrepreneurship Effects of international environment (political, social, economic and institutional) on international business activities and firm strategies Knowledge transfer strategies and innovation in MNEs Location strategies in international business activities.