How does contract design affect the uptake of microcredit among the ultra-poor? : experimental evidence from the river islands of Northern Bangladesh

Despite the professed claims of microcredit alleviating poverty, little is known about what kind of credit contract is suitable for extremely poor households, also called the ultra-poor. To fill this knowledge gap, we initiated a field experiment in the river islands of northern Bangladesh, where a substantial portion of dwellers could be categorized as ultra-poor due to cyclic floods. We randomly offered four types of loans to such dwellers: regular small cash loans with one-year maturity, large cash loans with three-year maturity both with and without a one-year grace period, and in-kind livestock loans with three-year maturity and a one-year grace period. We compared uptake rates as well as the determinants of uptake and found that the uptake rate is the lowest for the regular contract, followed by the in-kind contract. Contrary to prior belief, we also found that the microcredit demand by the ultra-poor is not necessarily small, and in particular the ultra-poor are significantly more likely to join a microcredit program than the moderately poor if a grace period with longer maturity is attached to a large amount of credit, irrespective of whether the credit is provided in cash or in kind. This paper provides evidence that a typical microcredit contract with one-year maturity and without a grace period is not attractive to the ultra-poor. Microfinance institutions may need to design better credit contracts to address the poor's needs.

GIS analysis of the accuracy of Tomas Lopez's historical cartography in the Canary Islands (1742 - 1746)

The accuracy of Tomás López´s historical cartography of the Canary Islands included in the “Atlas Particular” of the Kingdoms of Spain, Portugal and Adjacent Islands” is analyzed. For this purpose, we propose a methodology based on Geographic Information Systems (GIS), a comparison of digitized historical cartography population centres with current ones. This study shows that the lineal error value is small for the smaller islands: Lanzarote, El Hierro, La Palma and La Gomera. In the large islands of Tenerife, Fuerteventura and Gran Canaria, the error is smaller in central zones but increases towards the coast. This indicates that Tomás López began his cartography starting from central island zones, accumulating errors due to lack of geodetic references as he moved toward the coast.

Analysis of behavior directed towards changing the innovation agents. Case study of the Canary Islands

In 2005 the Directorate General for Industrial Development and Technological Innovation of the Canary Islands proceeded to carry out a project to measure the behavioral skills of various government agencies and companies in the Canary Islands in order to prepare a White Paper to assess the most effective measures for the stimulation of innovation in this autonomous community and to facilitate the objectives of public subsidies. This paper shows a portion of the work performed comparing the activity oriented towards innovation and the one aimed at sustaining the status quo of the organizations in the sample.

New data on the Pleistocene of Trani (Adriatic Coast, Southern Italy)

Along the Apulian Adriatic coast, in a cliff south of Trani, a succession of three units (superimposed on one another) of marine and/or paralic environments has been recognised. The lowest unit I is characterised by calcareous/siliciclastic sands (css), micritic limestones (ml), stromatolitic and characean boundstones (scb), characean calcarenites (cc). The sedimentary environment merges from shallow marine, with low energy and temporary episodes of subaerial exposure, to lagoonal with a few exchanges with the sea. The lagoonal stromatolites (scb subunit) grew during a long period of relative stability of a high sea level in tropical climate. The unit I is truncated at the top by an erosion surface on which the unit II overlies; this consists of a basal pebble lag (bpl), silicicla - stic sands (ss), calcareous sands (cs), characean boundstones (cb), brown paleosol (bp). The sedimentary environment varies from beach to lagoon with salinity variations. Although there are indications of seismic events within the subunits cs, unit II deposition took place in a context of relative stability. The unit II is referable to a sea level highstand. Unit III, trangressive on the preceding, consists of white calcareous sands (wcs), calcareous sands and calcarenites (csc), phytoclastic calcirudite and phytohermal travertine (pcpt), mixed deposits (csl, m, k, c), sands (s) and red/brown paleosols (rbp). The sedimentation of this unit was affected by synsedimentary tectonic, attested by seismites found at several heights. Also the unit III is referable to a sea level highstand. The scientific literature has so far generally attributed to the Tyrrhenian (auct.) the deposits of Trani cliff. As part of this work some datings were performed on 10 samples, using the amino acid racemization method (AAR) applied to ostracod carapaces. Four of these samples have been rejected because they have shown in laboratory recent contamination. The numerical ages indicate that the deposits of the Trani cliff are older than MIS 5. The upper part of the unit I has been dated to 355±85 ka BP, thus allowing to assign the lowest stromatolitic subunit (scb) at the MIS 11 peak and the top of the unit I at the MIS 11-MIS 10 interval. The base of the unit II has been dated to 333±118 ka BP, thus attributing the erosion surface that bounds the units I and II to the MIS 10 lowstand and the lower part of the unit II to MIS 9.3. The upper part of the unit II has been dated to 234±35 ka BP, while three other numerical ages come from unit III: 303±35, 267±51, 247±61 ka BP. At present, the numerical ages cannot distinguish the sedimentation ages of units II and III, which are both related to the MIS 9.3- MIS 7.1 time range. However, the position of the units, superimposed one another, and their respective age, allows us to recognise a subsidence phase between MIS 11 and MIS 7, followed by an uplift phase between the MIS 7 and the present day, which led the deposits in their current position. This tectonic pattern is not in full agreement with what is described in the literature for the Apulian foreland.

Fauna hawaiiensis; being the land-fauna of the Hawaiian islands. by various authors, 1899-1913.

v. 1:pt. 6

Fauna hawaiiensis; being the land-fauna of the Hawaiian islands. by various authors, 1899-1913.

v. 1:pt. 2

Fauna hawaiiensis; being the land-fauna of the Hawaiian islands. by various authors, 1899-1913.

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Breve apunte acerca de un manuscrito ornitológico redactado por Philip W. Munn durante su exilio en Portugal (1941-1945): The birds of the Balearic Islands (June, 1943)

Se presenta un bosquejo acerca de un documento de excepcional valor histórico para la ornitología balear: el manuscrito de Las Aves de las Islas Baleares (1943), redactado en inglés por el ornitólogo británico Philip Winchester Munn durante su exilio lisboeta.

Fauna hawaiiensis; being the land-fauna of the Hawaiian islands. by various authors, 1899-1913.

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