How does microfinance enhance entrepreneurial outcomes in emerging economies? The mediating mechanisms of psychological and social capital

In this article, a conceptual framework and research propositions are developed to explain how microfinance provision can translate into new venture creation and existing venture growth in an emerging economy context by engendering higher levels of psychological and social capital in clients. In doing this, the extent to which microfinance institutions provide business support and opportunities for social interaction are identified as factors which may strengthen the impact of microfinance provision on psychological and social capital, especially for poor entrepreneurs in resource-constrained settings. The conceptual framework and research propositions developed will be of use to academics in designing an agenda for future empirical research. In addition, they will help policymakers and microfinance providers to better design microfinance initiatives that enhance the well-being of clients and maximise their entrepreneurial outcomes. © The Author(s) 2013.

Are the kids alright? Relating to representations of youth

Initiatives aimed at promoting young people's well-being potentially conflict with more traditional modes of adult/youth relationship privileging adult authority. For example, teaching practice has shifted from teacher to student-centred, a move that can be attributed at least in part to the acknowledged importance of empathetic teacher-student relationship to the well-being of students. This discussion considers an area of sociocultural practice with the potential to inform understandings of youth and their relationships with adults: How youth have been discursively represented in a sample of popular music spanning the five decades from the 1960s to the 2000s. The analysis, in the first instance, demonstrates how popular culture supports and maintains discernible social relationships, sustaining what is identified here as a normative control-contest binary. A direct challenge to commonplace notions of authority and well-being follows, offering opportunities to theorise a different kind of psychosocial action.

Crossing the faith boundary

Improving the well-being of poor and vulnerable communities often requires external resources and interventions. Existing resource constraints, existing social and political structures, existing environmental circumstances, and existing economic realities are often insurmountable. Vulnerable and poor communities cannot challenge or overcome them on their own. External resources and interventions are often vital. They can act as shocks to existing systems that maintain vulnerability, can facilitate empowerment for those submerged in the dehumanisation of poverty, and can help local communities develop the capacity to equip themselves and assume the role of change agents for their own futures. The provision of such external resources and interventions is often facilitated through the involvement of non-government organisations (NGOs) that have developed expertise in working with and alongside local communities to identify, plan, implement and evaluate development interventions. These NGOs may be local to the communities themselves or be external and sit outside the partnered community. Often international NGOs partner with local ones in assisting local communities. However, collaboration between international and local NGOs, and between NGOs and local communities, should not be assumed to be without difficulty and challenges. Trust between partners, and between external agents of potential change and the communities that are the objects of these interventions, is a core component of successful collaborations.