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Increasing Access to Rural Finance in Bangladesh : The Forgotten "Missing Middle"

Ferrari, Aurora
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Português
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46.46%
Increasing access to rural finance is often the last frontier for financial sector development in developing countries. Financial institutions aiming to operate in rural areas in these countries usually have to deal with high transaction costs, low population densities, remote areas, and a heavy focus on agriculture, with related weather and commodity risks. Although Bangladesh is highly vulnerable to natural disasters, its high population density lowers transaction costs considerably. This report seeks to: measure the quantity and quality of access to finance by rural micro, small, and medium-size enterprises (MSMEs) and marginal, small, and medium-size farmesr (MSMFs). In Bangladesh these are also referred to as the missing middle -- a segment not served by banks or microfinance institutions (MFIs). The report also identifies constraints that financial institutions face in serving MSMEs and MSMFs. The institutions analyzed in detail include, Bangladesh Krishi Bank (BKB), Rajshahi Krishi Unnayan Bank (RAKUB), MFIs...

Big Bad Banks? The Impact of U.S. Branch Deregulation on Income Distribution

Beck, Thorsten; Levine, Ross; Levkov, Alexey
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Português
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56.47%
Policymakers and economists disagree about the impact of bank regulations on the distribution of income. Exploiting cross-state and cross-time variation, the authors test whether liberalizing restrictions on intra-state branching in the United States intensified, ameliorated, or had no effect on income distribution. The analysis finds that branch deregulation lowered income inequality by affecting labor market conditions, not by boosting the business income of the poor, nor by enhancing educational attainment. Reductions in the earnings gap between men and women and between skilled and unskilled workers account for the bulk of the explained drop in income inequality.

Frontier Finance - Microfinance as a Prudent First Intervention in Post-Conflict Countries

Earne, Julie; Gutin, John; Jagun, Jumoke
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
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46.43%
While there is growing support for microfinance globally, the unmet demand remains enormous, particularly in Africa, and especially in post-conflict and frontier countries. In Liberia, Sierra Leone, the Central African Republic and the Democratic Republic of Congo (DRC), less than 1 percent of the population has access to a bank account. Yet as these countries continue to stabilize, the demand for secure financial services is exploding. The post-conflict nature of these countries magnifies the need for microfinance services, as micro and small enterprises (MSEs) operating at a subsistence level are often the only surviving businesses after a conflict.

Mongolia - Government Financial Sector Reform Program (2000-2010) : Mid-term Review Report

World Bank
Fonte: Washington, DC Publicador: Washington, DC
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46.41%
In spring 2000 the Government of Mongolia adopted a Long-Term Vision and Medium Term Strategy for Financial Sector Reform and Development in 2000-2010, and implemented the Medium Term Strategy in 2001-2004 under the framework of the Bank s FSAC and ADB s FSPL II. In 2004-2005, a Bank team carried out a series of reviews to take stock of the progress made, and identify the remaining as well as emerging challenges. The reviews enjoyed support and coordination from the Ministry of Finance, the Bank of Mongolia and various financial institutions in Mongolia. The data used for the reviews were mainly those at the end of 2004, some were as recent as June 2005 and beyond. The main findings and recommendations of the reviews are summarized in this report, which serves as an Issues Paper for Bank management and staff working on or interested in Mongolia.

Egyptian National Postal Organization : Postal Financial Services and Access to Finance

World Bank
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
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ENPO is an organization employing 48,000 staff and operating a network of more than 9,000 access points (of which 3,500 post offices, 6,500 agencies, of which 1,500 are currently active). A commercial entity with management autonomy, ENPO is primarily a provider of basic financial services. Other services are mail (regular and express), parcels and Government services. Postal financial services, with three main business lines (savings, payments and giro services) and 15 million savings accounts, generate around 50% to 60% of ENPO s total revenue, and occupy an estimated 15% of ENPO s staff. Although available accounting and financial information are limited, it seems that postal financial services are operated at a profit. For ENPO which is currently in a transition phase from an administration-type of organization, moving towards a corporate-type of organization, the strategic option will play as an accelerator of change (in case the Government decides for a drastic move towards bancarization) or as a consolidator of incremental reform (in case the Government opts for a progressive approach...

Implementation of Treasury Single Account and Strengthening of Cash Management in Vietnam

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Português
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46.4%
Vietnam has made progress to improve oversight and control over cash balances for the state budget. The current arrangement however falls short of a treasury single account (TSA), which has led to inefficiencies in the management of cash balances and higher than necessary borrowing costs. In response to this, the Government of Vietnam has embarked on reforms to adopt a TSA and strengthen overall cash management. This policy note provides a review of progress in implementing a TSA system in Vietnam, the remaining challenges and obstacles, and how to overcome these for further TSA and cash management reforms. It is the product of ongoing discussions between the World Bank and the Ministry of Finance. Part A gives background and motivation; part B provides an overview of the state treasury system in Vietnam; part C reviews the progress in establishing a TSA, including against benchmarks of international good practice, and makes recommendations for priority next steps; and part D concludes with a review of cash management functions.

World Bank Lending for Financial Inclusion

Kumar, Anjali; Narain, Sushma; Rubbani, Swizen
Fonte: World Bank Group, Washington, DC Publicador: World Bank Group, Washington, DC
Tipo: Trabalho em Andamento
Português
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56.26%
The purpose of the paper is to present a more granular view of such projects through the in-depth focus on a limited number of case studies, with a view to understanding what factors in the design of such lending have helped achieve objectives of expanded access, and what forms of interventions may have been less successful. It examines the nature of Bank lending vehicles, the partnering borrower institutions, the country environments in which its loans were extended, as well as broader elements of good practice that make for loan success. It examines the beneficiaries targeted and results achieved. It aims to draws lessons that suggest what factors could lead to success or failure in Bank operations focused on financial access. The remainder of the paper is organized as follows: section two briefly describes the set of the Bank s projects selected for detailed review. Sections three to six contain the core findings of the review. Section 3 focuses on alternative forms of borrower institutions that have served as vehicles for Bank projects...

Kyrgyz Republic : Access to Financial Services Policy Note

World Bank
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Economic & Sector Work :: Policy Note; Economic & Sector Work
Português
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56.4%
The purpose of this paper is to report on the level of access to formal financial services in the Kyrgyz Republic, assess the key obstacles to improving access, and make recommendations to overcome these obstacles. The paper is organized as follows. Sections II to IV examine the supply of financial services. Specifically, section II presents a profile of financial intermediation by banks, focusing their supply of financial services, particularly lending and deposits. Section III presents a profile of lending by Aiyl Bank, a specialized bank with a limited license, which is mandated to lend for agriculture. Section IV presents a profile of lending by non-bank financial institutions (NBFIs), including microfinance organizations (MFOs) and credit unions. Section V examines the demand side for financial services, drawing on enterprise surveys to assess firms' perceptions of their access to finance. Section VI presents a brief analysis of the impact of the events of April 2010 on access to finance. Section VII discusses key obstacles in increasing access to finance from banks and NBFIs. Section VIII concludes with policy recommendations that derive from the preceding analysis.

From Pawn Shops to Banks : The Impact of Formal Credit on Informal Households

Ruiz, Claudia
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
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46.48%
This paper examines the effects of expanding access to credit on the decisions and welfare of households. It focuses on the entry of Banco Azteca, the first bank in Mexico targeting households from the informal sector. Panel data suggest that informal households in municipalities with Banco Azteca branches experienced several changes in their saving, credit and consumption patterns. In order to estimate the impact of Azteca's entry, the paper develops a dynamic model of household choices in which the bank is endogenously selecting the municipalities for branch openings. The analysis finds that in municipalities in which the bank entered, households were better able to smooth their consumption and accumulate more durable goods even though the overall proportion of households that save went down by 6.6 percent. These results suggest that the use of savings as a buffer on income fluctuations declines once formal credit is available. What is more, these effects vary across households. Among informal households...

How Bank Competition Affects Firms' Access to Finance

Love, Inessa; Martínez Peria, María Soledad
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
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56.25%
Combining multi-year, firm-level surveys with country-level panel data for 53 countries, the authors explore the impact of bank competition on firms' access to finance. They find that low competition, as measured by high values of the Lerner index, diminishes firms' access to finance, while commonly-used bank concentration measures are not robust predictors of firms' access to finance. In addition, they find that the impact of competition on access to finance depends on the environment that banks operate in. Some features of the environment, such as greater financial development and better credit information, can mitigate the damaging impact of low competition. But other characteristics, such as high government bank ownership, can exacerbate the negative effect.

Grameen Bank Lending : Does Group Liability Matter?

Khandker, Shahidur R.
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
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56.2%
Competing theories increasingly support the positive role of social capital in small loan default costs of group lending; at the same time, potential group collusion may increase loan delinquencies. Findings from the available literature are mixed on the role of the various attributes of group lending. But past studies suffer from estimation bias due to the unobserved sorting behavior of group members and their other attributes. This paper attempts to resolve that estimation bias by utilizing longitudinal data from 297 Grameen Bank groups since their inceptions. A dynamic lagged dependent model with correction for time-varying heterogeneity of group and individual behavior is applied to estimate the effect of group liability in the Grameen Bank. The results suggest that group liability matters in both loan disbursement and repayment, with women less of a credit risk than men and women's groups more homogeneous than men's. Finally, the benefits of social capital outweigh the costs of group collusion, especially for women's groups...

Pursuing Efficiency While Maintaining Outreach : Bank Privatization in Tanzania

Cull, Robert; Spreng, Connor P.
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
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56.51%
Profitability improvements after the privatization of a large state-owned bank might come at the expense of reduced access to financial services for some groups, especially the rural poor. The privatization of Tanzania's National Bank of Commerce provides a unique episode for studying this issue. The bank was split into the "new" National Bank of Commerce, a commercial bank that assumed most of the original bank's assets and liabilities, and the National Microfinance Bank, which assumed most of the branch network and the mandate to foster access to financial services. The new National Bank of Commerce's profitability and portfolio quality improved although credit growth was slow, in line with privatization experiences in other developing countries. Finding a buyer for the National Microfinance Bank proved very difficult, although after years under contract management by private banking consultants, Rabobank of the Netherlands emerged as a purchaser. Profitability has since improved and lending has slowly grown...

Using Technology to Build Inclusive Financial Systems; La technologie au service de systemes financiers de systemes financiers inclusifs

Ivatury, Gautam; Pickens, Mark; Siedek, Hannah
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Brief; Publications & Research
Português
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56.32%
Innovative use of information and communications technologies to inexpensively process a large volume of small transactions and deliver a wide range of financial services may help to make microfinance institutions (MFIs) more efficient and commercial banks more interested in serving poor people. Falling hardware costs and growing support infrastructure are making these technologies increasingly available. From 1999 to 2004, the number of mobile subscribers in Africa grew from 7.5 million to 76.8 million. Besides reducing delivery costs for banks, poor people may ultimately prefer using these channels because they are inexpensive and convenient. Many who are unbanked now may gain access to financial services for the first time. In a recent CGAP survey, 62 financial institutions in 32 countries report using technology channels, such as automated teller machines (ATMs), point of sale (POS) card readers, and mobile phones, to handle transactions for poor customers. Some are using new technology to better serve existing customers; others hope to reach new clients in areas where setting up a bank branch may be too costly. In Brazil...

Bank Bailouts, Competition, and the Disparate Effects for Borrower and Depositor Welfare

Calderon, Cesar; Schaeck, Klaus
Fonte: World Bank, Washington, D.C. Publicador: World Bank, Washington, D.C.
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
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56.43%
This paper investigates how government interventions into banking systems such as blanket guarantees, liquidity support, recapitalizations, and nationalizations affect banking competition. This debate is important because the pricing of banking products has implications for borrower and depositor welfare. Exploiting data for 124 countries that witnessed different policy responses to 41 banking crises, and using difference-in-difference estimations, the paper presents the following key results: (i) Government interventions reduce Lerner indices and net interest margins. This effect is robust to a battery of falsification and placebo tests, and the competitive response also cannot be explained by alternative forces. The competition-increasing effect on Lerner indices and net interest margins is also confirmed once the non-random assignment of interventions is accounted for using instrumental variable techniques that exploit exogenous variation in the electoral cycle and in the design of the regulatory architecture across countries. (ii) Consistent with theoretical predictions...

Tajikistan - Delivering Social Assistance to the Poorest Households

World Bank
Fonte: World Bank Publicador: World Bank
Tipo: Economic & Sector Work :: Other Poverty Study
Português
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56.19%
During the food, fuel, and financial crises of 2008 and 2009, the Government and donors found themselves without an effective mechanism for channeling assistance to the poor. In 2009, the Government of Tajikistan asked the World Bank to support improvement of its system of social assistance. The World Bank prepared this report to inform its technical and financial support for improvement of social assistance and also to define an initial mechanism for delivering benefits to the poorest households. At present, Tajikistan's system of social assistance exerts almost no downward influence on poverty rates. This note sets forth the case for reform and then presents some specific technical proposals for reforms. To trace the path to reform, this report starts with an assessment of the present system. The other main social assistance program is compensation to needy families whose children attend school. This program pays benefits to selected households if their children enroll in and attend school. The size of the benefit is negligible and is judged too low to influence school attendance. An important step in the reform will be to consolidate the two main social assistance programs...

Resolving the African Financial Development Gap : Cross-Country Comparisons and a Within-Country Study of Kenya

Allen, Franklin; Carletti, Elena; Cull, Robert; Qian, Jun; Senbet, Lemma; Valenzuela, Patricio
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
Relevância na Pesquisa
46.5%
With extensive country and firm-level data sets, this paper first documents that the financial sectors of most Sub-Saharan African countries remain significantly underdeveloped by the standards of other developing countries. The paper also finds that population density appears to be considerably more important for banking sector development in Africa than elsewhere. To better understand how countries can overcome the high costs of developing viable banking sectors outside large metropolitan areas, the analysis focuses on Kenya, which has made significant strides in financial inclusion and development in recent years. The paper finds a positive and significant impact of Equity Bank, a leading private commercial bank, on financial access, especially for underprivileged households. Equity Bank's business model -- providing financial services to population segments typically ignored by traditional commercial banks and generating sustainable profits in the process -- can be a potential solution to the financial access problem that has hindered the development of inclusive financial sectors in many other African countries.

Improving Access to Banking : Evidence from Kenya

Allen, Franklin; Carletti, Elena; Cull, Robert; Qian, Jun; Senbet, Lemma; Valenzuela, Patricio
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
Relevância na Pesquisa
46.52%
Using household surveys and bank penetration data at the district-level in 2006 and 2009, this paper examines the impact of Equity Bank -- a leading private commercial bank focusing on microfinance -- on access to banking in Kenya. Unlike other commercial banks in Kenya, Equity Bank pursues distinct branching strategies that target underserved areas and less-privileged households. Equity Bank presence has a positive and significant impact on households' use of bank accounts and bank credit, especially for Kenyans with low income, no salaried job, and less education and those who do not own their own home. The findings are robust to using the district-level proportion of people speaking a minority language as an instrument for Equity Bank presence. It appears that Equity Bank's business model -- providing financial services to population segments typically ignored by traditional commercial banks and generating sustainable profits in the process -- can be a solution to the financial access problem that has hindered the development of inclusive financial sectors in many African countries.

Extending Financial Services with Banking Agents

Siedek, Hannah
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Brief; Publications & Research
Português
Relevância na Pesquisa
56.4%
Banking agents are retail vendors, lottery outlets, and post offices-trusted local establishments that can double as a kind of bank branch for their customers, processing everything from bill and pension payments to deposits, withdrawals, and money transfers. Banking agents' lower set-up and running costs promise to help banks and microfinance institutions reach more and poorer people living far from the nearest branch, with more financial products, at lower cost, than traditional microfinance or banking channels. Banking agents process transactions with point-of-sale (POS) card readers, barcode scanners, and sometimes personal computers that connect with the bank's server using a dial-up or other data connection. The clerk at the retail or postal outlet collects and disburses cash and, in some cases, opens bank accounts for new clients and fills in credit applications. The retail outlets earn a portion of the transaction fee. Some generate so much business from handling these transactions that they dedicate an employee to operating the POS device. Some banks use management companies to identify...

Increasing Revenues for India Post through Expanding Channeling of Financial Services

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Other Financial Sector Study; Economic & Sector Work
Português
Relevância na Pesquisa
46.41%
This report analyzes possibilities for increasing revenues for India Post through expanding channeling of financial services. The Indian postal network is among the largest networks in the world in terms of area covered and population served, and constitutes an important mechanism of achieving transportation and communication. Within India Post, the Post Office Savings Bank (POSB) is one of the oldest and largest financial institutions (with largest deposit base) in the country. The key objective of POSB is to provide people living in rural, semi-urban, remote and inaccessible areas of the country with an easy and reliable means of making investments, making remittances and operating savings accounts. It is of strategic importance for POSB to increase market-based revenues so as to gain better control of its market orientation and revenue structure. In addition, though POSB still retains competitive advantages over commercial banks, it will not be long before the competition replicates these advantages. Hence...

O papel da tecnologia da informação e comunicação na inclusão financeira da população ribeirinha da Ilha de Marajó: o caso Agência Barco

Santos, Ricardo Paschoeto dos
Fonte: Fundação Getúlio Vargas Publicador: Fundação Getúlio Vargas
Tipo: Dissertação
Português
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O desafio de ofertar infraestrutura de serviços públicos nas regiões menos desenvolvidas do Brasil, geralmente mais afastadas dos grandes centros urbanos, mobiliza setores da sociedade na busca de abordagens novas e criativas que possam diminuir as grandes disparidades inter-regionais. Uma das carências vivenciadas por parte da população brasileira é a falta de acesso ao sistema financeiro, comprometendo a capacidade de plena participação dessas pessoas na economia, dificultando a geração e acúmulo de riqueza, situação essa presente na Ilha de Marajó, no estado do Pará, cuja maioria de seus dezesseis municípios apresenta Índice de Desenvolvimento Humano (IDH) baixo ou muito baixo. Para mudar essa realidade, uma iniciativa inovadora é a agência bancária itinerante instalada em barco, para atendimento a populações ribeirinhas de regiões com vasta extensão territorial, baixa densidade demográfica, dificuldades de transporte e limitações na oferta de tecnologia da informação e comunicação (TIC). Assim, essa pesquisa, com propósito exploratório e descritivo, tem como objetivo principal identificar, sob o ponto de vista das TIC, como os indicadores de inclusão financeira são influenciados pela atuação da Agência Barco na Ilha de Marajó. Além do estudo teórico...