Microcredit Financing Organizations: Global Players Empowering Women and Alleviating Poverty Worldwide

World poverty is a global issue and a development issue. Poverty reduction and women's empowerment are deeply connected to regional stability and long lasting peace. Nations will continue to be plagued by poverty, and top-down government agency aid programs to date have been unsuccessful. Encouraging news resides in innovative microfinance initiatives that alleviate poverty and impact millions of impoverished people around the globe. Microfinance organizations provide small loans, primarily to women otherwise excluded from the formal banking sector, for entrepreneurial endeavors. Myriad social, educational, and health programs accompany microfinance loan services. It is a powerful poverty-fighting tool with socioeconomic benefits. Evidence suggests that while imperfect, microfinance goals and successes are inspiring given the paucity of realistic alternatives in today's global development arena.

A COMUNICAÇÃO MERCADOLÓGICA NA OFERTA DE MICROCRÉDITO: UM ESTUDO DE CASO DO BANCO ITAÚ NA PERIFERIA DE SÃO PAULO.

Por um lado, o mundo do Século XXI com ferramentas que possibilitam cada vez mais estarmos conectados e dependentes das tecnologias de comunicação, em que a internet prevalece como meio principal para as pessoas se relacionarem, interagirem, consumirem, se divertirem e se informarem. Do outro lado, quase que uma ilha à parte dessa tendência tecnológica, um espaço em que a comunicação oral, a confiança, o valor da palavra, o conhecer o vizinho do bairro e a comunidade são o que prevalece. Trata-se de mais um fenômeno decorrente do crescimento da Classe C no Brasil, posterior ao lançamento do Plano Real, por Fernando Henrique Cardoso no governo do ex-presidente Itamar Franco, e da implantação de medidas sociais nos anos seguintes, durante o governo de Luiz Inácio Lula da Silva. O segmento que representa 54% da população brasileira e desperta a atenção das empresas como uma nova frente de geração de riquezas e negócios. Por meio de pesquisa bibliográfica e análise documental para análise de conteúdo, este estudo de caso único investigará como o Banco Itaú se comunica com esse público para oferecer o microcrédito na periferia da cidade de São Paulo. Num mundo em que se pensa quanto mais rápidas e sensoriais serão as tecnologias de informação no futuro, o bom e velho bate-papo pode levar a conhecimentos importantes quando queremos nos comunicar com as camadas populares da população.

Essays on Development Policy and the Political Economy of Conflict

Electoral Rules and Leader Selection: Experimental Evidence from Ugandan Community Groups. Despite a large body of work documenting how electoral systems affect policy outcomes, less is known about their impact on leader selection. We study this by comparing two types of participatory decision making in Ugandan community groups: (i) vote by secret ballot and (ii) open discussion with consensus. Random assignment allows us to estimate the causal impact of the rules on leader types and social service delivery. Vote groups are found to elect leaders more similar to the average member while discussion group leaders are positively selected on socio-economic characteristics. Further, dropout rates are significantly higher in discussion groups, particularly for poorer members. After 3.5 years, vote groups are larger in size and their members save less and get smaller loans. We conclude that the secret ballot vote creates more inclusive groups while open discussion groups favor the already economically successful. Preparing for Genocide: Community Meetings in Rwanda. How do political elites prepare the civilian population for participation in violent conflict? We empirically investigate this question using data from the Rwandan Genocide in 1994. Every Saturday before 1994, Rwandan villagers had to meet to work on community infrastructure. The practice was highly politicized and, according to anecdotal evidence, regularly used by the political elites for spreading propaganda in the years before the genocide. This paper presents the first quantitative evidence of this abuse of the community meetings. To establish causality, we exploit cross-sectional variation in meeting intensity induced by exogenous weather fluctuations. We find that an additional rainy Saturday resulted in a five percent lower civilian participation rate in genocide violence. Selection into Borrowing: Survey Evidence from Uganda. In this paper, I study how changes to the standard credit contract affect loan demand and selection into borrowing, using a representative sample of urban micro enterprises, most with no borrowing experience. Hypothetical loan demand questions are used to test whether firm owners respond to changes in loans' contractual terms and whether take-up varies by firms' risk type and other firm owner characteristics. The results indicate that contracts with lower interest rates and less stringent collateral requirements attract less risky borrowers, suggesting that there is scope for improvement of standard financial contract terms. Credit Contract Structure and Firm Growth: Evidence from a Randomized Control Trial. We study the effects of credit contract structure on firm outcomes among small and medium sized firms. A randomized control trial was carried out to distinguish between some of the key constraints to efficient credit use connected to the firms' business environment and production function, namely (i) backloaded returns (ii) uncertain returns and (iii) indivisible fixed costs. Each firm was followed for the 1-year loan cycle. We describe the experiment and present preliminary results from the first 754 out of 2,340 firms to have completed the loan cycle. Firms offered a grace period have higher profits and higher household income than firms receiving a rebate later on as well as the control group. They also increased the number of paid employees  and reduced the number of unpaid employees, an effect also found among firms that received a cash subsidy at the beginning of the loan cycle. We discuss potential mechanisms behind these effects.

When Poverty Becomes Profitable: A Critical Discourse Analysis of Microfinancial Development in Haiti

For the past thirty years, policymakers have lauded microfinance for its promises to reduce poverty and empower women in developing nations. First conceived by the Bangladeshi economist Muhammed Yunus and the bank he founded, microfinance has been hailed as a visionary project that promises to advance the economic interests of the poor by engaging them directly. Conventional studies by political scientists explore the place of microfinance in the global development architecture of international financial institutions, governments, and NGOs. Economic studies of its effectiveness are contributing to a crisis of legitimacy since they reveal that thousands of clients in developing nations continue to default on their loans due to predatory lending practices. Drawing on discourse analysis methodology, this article seeks to explain how microfinance, an industry embedded in the financialization of development, is now concerned with high financial returns for investments, not the social goals promised by its original raison d'être. Treating microfinance as a discourse, I argue that there is a fundamental tension between the short-term social goals promised by microfinance and the long-term financial objectives of sustainability of investors.

Social capital, HIV risk behavior and substance use among recent Latino immigrants in South Florida

Social capital, or social cohesion or group connectedness, can influence both HIV risk behavior and substance use. Because recent immigrants undergo a change in environment, one of the consequences can be a change in social capital. There may be an association among changes in social capital, and HIV risk behavior and substance use post immigration. The dissertation focused on the interface of these three variables among recent Latino immigrants (RLIs) in South Florida. The first manuscript is a systematic review of social capital and HIV risk behavior, and served as a partial background for the second and third manuscripts. Twelve papers with a measure of social capital as an independent variable and HIV risk as the dependent variable were included in the analysis. Eleven studies measured social capital at the individual level, and one study measured social capital at the group level. HIV risk was influenced by social capital, but the type of influence was dependent on the type of social capital and on the study population. Cognitive social capital, or levels of collective action, was protective against HIV in both men and women. The role of structural social capital, or levels of civic engagement/group participation, on HIV risk was dependent on the type of structural social capital and varied by gender. Microfinance programs and functional group participation were protective for women, while dysfunctional group participation and peer-level support may have increased HIV risk among men. The second manuscript was an original study assessing changes in social capital and HIV risk behavior pre to post immigration among RLIs in South Florida (n=527). HIV risk behavior was assessed through the frequency of vaginal-penile condom use, and the number of sexual partners. It was a longitudinal study using secondary data analysis to assess changes in social capital and HIV risk behavior pre immigration to two years post immigration, and to determine if there was a relationship between the two variables. There was an 8% decrease in total social capital (p < .05). Reporting of 'Never use' of condoms in the past 90 days increased in all subcategories (p < .05). Single men had a decrease in number of sexual partners (p < .05). Lower social capital measured on the dimension of 'friend and other' was marginally associated with fewer sexual partners. The third manuscript was another original study looking at the association between social capital and substance use among RLIs in South Florida (n=527). Substance use with measured by frequency of hazardous alcoholic drinking, and illicit drug use. It was a longitudinal study of social capital and substance-use from pre to two years post immigration. Post-immigration, social capital, hazardous drinking and illicit drug use decreased (p<.001). After adjusting for time, compared to males, females were less likely to engage in hazardous drinking (OR=.31, p<.001), and less likely to engage in illicit drug use (OR=.67, p=.01). Documentation status was a moderator between social capital and illicit drug use. 'Business' and 'Agency' social capital were associated with changes in illicit drug use for documented immigrants. After adjusting for gender and marital status, on average, documented immigrants with a one-unit increase in 'business' social capital were 1.2 times more likely to engage in illicit drug use (p<.01), and documented immigrants with one-unit increase in 'agency' social capital were 38% less likely to engage in illicit drug use (p<.01). 'Friend and other' social capital was associated with a decrease in illicit drug use among undocumented immigrants. After adjusting for gender and marital status, on average, undocumented immigrants with a one-unit increase in 'friend and other' social capital were 45% less likely to engage in hazardous drinking and 44% less likely to use illicit drugs (p<.01, p<.05). Studying these three domains is relevant because HIV continues to be a public health issue, particularly in Miami-Dade County, which is ranked among other U.S. regions with high rates of HIV/AIDS prevalence. Substance use is associated with HIV risk behavior; in most studies, increased substance use is associated with increased chances of HIV risk behavior. Immigration, which is the hypothesized catalyst for the change in social capital, has an impact on the dynamic of a society. Greater immigration can be burdensome on the host country's societal resources; however immigrants are also potentially a source of additional skilled labor for the workforce. Therefore, successful adaption of immigrants can have a positive influence on receiving communities. With Florida being a major receiver of immigrants to the U.S, this dissertation attempts to address an important public health issue for South Florida and the U.S. at large.

A relação entre desempenho e a forma legal das instituições de microcrédito

This work test the relationship of performance and legal form of microfinance institutions (MFI), in our work MFI can be banks, non-governmental organizations (NGO), cooperatives, non-banks financial institutions (NBFI) or rural banks. We use linear regression model, panel data and variables dummy for the legal forms. Our samples are 243 MFI from all continents, except North America, in the period from 2007 to 2012. We found that bigger MFI generates higher profit, higher returns and higher self-sufficiency rates, so the growing can be a way for consolidation of MFI. For smaller MFI a way can be assimilation or merging with other MFI. Cooperatives, non-bank financial institutions and rural banks can serve more customers, causing greater impact on society, and get higher returns. This suggests the most appropriate legal form for microfinance market can be cooperatives, non-banks financial institutions or rural banks balancing social orientation and profit orientation.

Las ONG microfinancieras peruanas: ¿siguen manteniendo su misión social?

In recent years, the growth of the microfinance sector has been significant. Either as a cause or as a consequence, some governments have decided to make it part of the financial system adapting regulatory frameworks to allow the sector to continue to expand as the number of formal institutions increases. It is the case in Peru where many NGOs have decided not to become regulated, arguing that this change could leave them to move away from the social aims for which they were created. In an increasingly competitive marketplace, where the legal framework encourages the regulation of microfinance institutions, there appears to be a need to study the potential future role of NGOs in the sector. In consideration of this question, this paper attempts to analyse the social role of those NGOs that have decided not to become regulated institutions. In this study a number of social indicators are analysed; these include the number of female clients, average loan amount and how loans are used, among others. These indicators will be used to attempt to evaluate the social role of unregulated NGOs and their prospects in this new context.

Economic Development of Urban Areas

In this dissertation I study the development of urban areas. At the aggregate level I investigate how they may be affected by climate change policies and by being designated the seat of governmental power. At the household level I study with coauthors how microfinance could improve the health of urban residents. In Chapter 1, I investigate how local employment may be affected by electricity price increases, which is a likely consequence of climate change policies. I outline how previous studies that find large, negative effects may be biased. To overcome these biases I develop a novel estimation strategy that blends border-pair regressions with the synthetic control methodology. I show the conditions for consistent estimation. Using this estimator, I find no effect of contemporaneous price changes on employment. Consistent with the longer time-frame for manufacturing decisions, I do find evidence for negative effects from perceived permanent price shocks. These estimates are much smaller than previous research has found. National capital cities are often substantially larger than other cities in their countries. In Chapter 2, I investigate whether there is a causal effect from being a capital by studying the 1960 relocation of the Brazilian capital from Rio de Janeiro to Brasília. Using a synthetic controls strategy I find that losing the capital had no significant effects on Rio de Janeiro in terms of population, employment, or gross domestic product (GDP). I find that Brasília experienced large and significant increases in population, employment, and GDP. I find evidence of large spillovers from the public to the private sector. Chapter 3 investigates how microfinance could increase the uptake of costly health goods. We study the effect of time payments (micro-loans or micro-savings) on willingness-to-pay (WTP) for a water filter among households in the slums of Dhaka, Bangladesh. We find that time payments significantly increase WTP: compared to a lump-sum up-front purchase, median WTP increases 83% with a six-month loan and 115% with a 12-month loan. We find that households are quite patient with respect to consumption of health inputs. We find evidence for the presence of credit and savings constraints.

Social Capital, HIV Risk Behavior and Substance Use among Recent Latino Immigrants in South Florida

Social capital, or social cohesion or group connectedness, can influence both HIV risk behavior and substance use. Because recent immigrants undergo a change in environment, one of the consequences can be a change in social capital. There may be an association among changes in social capital, and HIV risk behavior and substance use post immigration. The dissertation focused on the interface of these three variables among recent Latino immigrants (RLIs) in South Florida. The first manuscript is a systematic review of social capital and HIV risk behavior, and served as a partial background for the second and third manuscripts. Twelve papers with a measure of social capital as an independent variable and HIV risk as the dependent variable were included in the analysis. Eleven studies measured social capital at the individual level, and one study measured social capital at the group level. HIV risk was influenced by social capital, but the type of influence was dependent on the type of social capital and on the study population. Cognitive social capital, or levels of collective action, was protective against HIV in both men and women. The role of structural social capital, or levels of civic engagement/group participation, on HIV risk was dependent on the type of structural social capital and varied by gender. Microfinance programs and functional group participation were protective for women, while dysfunctional group participation and peer-level support may have increased HIV risk among men. The second manuscript was an original study assessing changes in social capital and HIV risk behavior pre to post immigration among RLIs in South Florida (n=527). HIV risk behavior was assessed through the frequency of vaginal-penile condom use, and the number of sexual partners. It was a longitudinal study using secondary data analysis to assess changes in social capital and HIV risk behavior pre immigration to two years post immigration, and to determine if there was a relationship between the two variables. There was an 8% decrease in total social capital (p ˂ .05). Reporting of ‘Never use’ of condoms in the past 90 days increased in all subcategories (p ˂ .05). Single men had a decrease in number of sexual partners (p ˂ .05). Lower social capital measured on the dimension of ‘friend and other’ was marginally associated with fewer sexual partners. The third manuscript was another original study looking at the association between social capital and substance use among RLIs in South Florida (n=527). Substance use with measured by frequency of hazardous alcoholic drinking, and illicit drug use. It was a longitudinal study of social capital and substance-use from pre to two years post immigration. Post-immigration, social capital, hazardous drinking and illicit drug use decreased (p˂.001). After adjusting for time, compared to males, females were less likely to engage in hazardous drinking (OR=.31, p˂.001), and less likely to engage in illicit drug use (OR=.67, p=.01). Documentation status was a moderator between social capital and illicit drug use. ‘Business’ and ‘Agency’ social capital were associated with changes in illicit drug use for documented immigrants. After adjusting for gender and marital status, on average, documented immigrants with a one-unit increase in ‘business’ social capital were 1.2 times more likely to engage in illicit drug use (p˂.01), and documented immigrants with one-unit increase in ‘agency’ social capital were 38% less likely to engage in illicit drug use (p˂.01). ‘Friend and other’ social capital was associated with a decrease in illicit drug use among undocumented immigrants. After adjusting for gender and marital status, on average, undocumented immigrants with a one-unit increase in ‘friend and other’ social capital were 45% less likely to engage in hazardous drinking and 44% less likely to use illicit drugs (p˂.01, p˂.05). Studying these three domains is relevant because HIV continues to be a public health issue, particularly in Miami-Dade County, which is ranked among other U.S. regions with high rates of HIV/AIDS prevalence. Substance use is associated with HIV risk behavior; in most studies, increased substance use is associated with increased chances of HIV risk behavior. Immigration, which is the hypothesized catalyst for the change in social capital, has an impact on the dynamic of a society. Greater immigration can be burdensome on the host country’s societal resources; however immigrants are also potentially a source of additional skilled labor for the workforce. Therefore, successful adaption of immigrants can have a positive influence on receiving communities. With Florida being a major receiver of immigrants to the U.S, this dissertation attempts to address an important public health issue for South Florida and the U.S. at large.

Characteristics of microcredit offering in brazilian program of microcredit in São Paulo state

The Programa Nacional do Microcrédito Produtivo Orientado (PNMPO) encourages productive activity of micro and small entrepreneurs as those present in São Paulo State, in Brazil. Thus this research aims to determine the characteristics of the supply of microcredit program of the national productive microcredit OSCIPs in the state of São Paulo. As a research method was used to develop documental analysis based on official sources of institutions’ information on their sites in the worldwide web. The results indicate the existence of different institutional settings, which show different characteristics in the supply of Oriented Productive Microcredit, but always focusing on the development of local actors.

Influencia del interés geopolítico de China en sus relaciones bilaterales con Camboya

La presente investigación tiene como objetivo analizar cómo las relaciones bilaterales entre China y Camboya son afectadas por el interés geopolítico chino, con el fin de demostrar que éste genera un fortalecimiento de sus relaciones puesto que además de suplir necesidades alimenticias, hídricas y en mano de obra barata, es el único país de la región del Sudeste Asiático que le permite a China tener acceso militar al Golfo de Tailandia y al Mar de China Meridional, donde se encuentra en desventaja con Estados Unidos. Así, se indica que la potencia asiática formula sus acuerdos bilaterales creando relaciones de dependencia por parte de países como Camboya para que este le entregue “obligatoriamente” lo que necesita. Esta investigación se llevará a cabo por medio de una monografía con un enfoque realista. Se utilizará el método de investigación cualitativo, que se servirá de fuentes primarias como los acuerdos bilaterales entre ambos Estados.