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Article
Publication date: 29 April 2014

Cheng Xiang, Xiangping Jia and Jikun Huang

Internationally, microfinance run by non-governmental organizations (NGOs) is often considered an important approach to meeting the credit demand of rural households…

Abstract

Purpose

Internationally, microfinance run by non-governmental organizations (NGOs) is often considered an important approach to meeting the credit demand of rural households, particularly among the poor. However, the perceived competitions with formal financial institutions and concerns about financial risks in the rural economy have impeded the development of microfinance by NGOs in China. Despite these concerns about NGO microfinance, little empirical evidence has been brought to prove them. The purpose of this paper is to provide empirical evidence of the relationship between NGO microfinance and farmers’ demand for formal and informal credit in rural China.

Design/methodology/approach

The study is based on a household longitudinal data set consisting of 749 households from 40 microfinance villages in rural China. This study draws evidence from China's largest NGO microfinance. Out of the five county branches where China Foundation for Poverty Alleviation has launched institutionalized microfinance since 2006, the authors selected two of them. A random sampling approach was applied in surveying villages and households. In an effort to create impact assessments, the authors surveyed the detailed information on household characteristics and credit access during the period 2006-2009. A panel data is thus structured for the analysis.

Findings

The authors found that the demand for credit in rural China is immense and rising, as formal financial institutions have gradually moved away from less developed regions in rural areas. In its place, informal lending has become a primary source of credit for the poor. However, where NGO microfinance has become available, both formal and informal credit has slowed down. The development and expansion of NGO microfinance did stand up as a substitution for institutional lenders and informal financial networks.

Research limitations/implications

The findings have profound policy implications. First, since the development of NGO microfinance fill the demand for credit in rural China and poses low financial risk, the intellectual bias against NGO microfinance is unwarranted. In particular, the regulations that hamper the development of NGO microfinance should be corrected. Second, informal networks do not appear to be costless. Where NGO microfinance can substitute for them, it can mitigate the financial stresses related to the informal credit market.

Details

China Agricultural Economic Review, vol. 6 no. 2
Type: Research Article
ISSN: 1756-137X

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Article
Publication date: 1 April 2002

Shahid Nawaz, Roddy McKinnon and Robert Webb

Prior to the events of 11th September, 2001, international cooperation in the field of global financial crime prevention was already well established. Prompted by separate…

Abstract

Prior to the events of 11th September, 2001, international cooperation in the field of global financial crime prevention was already well established. Prompted by separate initiatives led by the United Nations Organisation and the Basel Committee in the late 1980s, the creation in 1989 of the Financial Action Task Force on Money Laundering (FATF) by the G7 countries set in place an international body to coordinate anti‐money laundering measures across 26 countries and jurisdictions. Subsequently, and prompted by the creation of the FATF, other regional interstate organisations in western and eastern Europe, across the Americas and the Caribbean, and also in Asia, have drafted similar anti‐money laundering standards for their respective countries. In turn, these interstate regulatory initiatives have been complemented by parallel business‐led ‘voluntary’ initiatives, such as the example of the Wolfsberg Anti‐Money Laundering Principles designed to promote greater transparency across the banking sector.

Details

Journal of Money Laundering Control, vol. 5 no. 4
Type: Research Article
ISSN: 1368-5201

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Article
Publication date: 28 January 2020

Hui Zhang, Ying Chen and Xiaohu Zhou

The purpose of this paper is to investigate ways to mitigate gender bias in entrepreneurial financing. The authors aim to unveil the role entrepreneurs’ gender played in…

Abstract

Purpose

The purpose of this paper is to investigate ways to mitigate gender bias in entrepreneurial financing. The authors aim to unveil the role entrepreneurs’ gender played in formal and informal financing under Chinese context, as well as the moderating role corporate social responsibility (CSR) played in such relationships.

Design/methodology/approach

This paper adopts ANOVA test and multiple regression method to empirically examine the relationship of entrepreneurs’ gender, formal financing, informal financing and CSR with second hand data from The Eleventh Private Enterprise Survey covering a sample of firms across China.

Findings

The results demonstrate that comparing to start-ups led by men, start-ups led by women are less likely to get either formal or informal financing. The results also suggest that CSR negatively moderates the impact entrepreneurs’ gender has on formal financing but not on informal financing.

Originality/value

By focusing on both formal and informal financing, the research of gender’s effects on firms’ financing has been extended. Also, by proving that CSR can help to mitigate gender bias in formal financing, contribution has also been made to the research field of gender financing. This paper contributes to the CSR literature by sorting out another benefit CSR has in new venture financing. Overall, findings of this study deepen the existing understanding of gender issues in the context of entrepreneurial financing.

Details

Chinese Management Studies, vol. 14 no. 3
Type: Research Article
ISSN: 1750-614X

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Article
Publication date: 1 August 2008

Bojan Dobovšek

The purpose of this paper is to highlight both the ways in which transnational organized crime has developed and will develop, and also some problems in relation to…

Abstract

Purpose

The purpose of this paper is to highlight both the ways in which transnational organized crime has developed and will develop, and also some problems in relation to financing economic organized crime networks. These are related to the problem of state capture problem in emerging democracies.

Design/methodology/approach

The literature and other sources have been reviewed to analyse trends relating to transnational crime organisations.

Findings

It was found that criminal organisations have moved in the last few years to strengthen their economic power, putting pressure on to states' politics through their networks. In some cases (such as tycoons in transitional countries) it seems that they have already entered a third phase – movement into politics. This form of elite organized crime could be characterised as a fifth branch of state authority, because it is influences, through the means of a great amount of money, corruption, networking and extortion, both the state economy and policy.

Originality/value

The analyses and conclusions help us to understand the transformation of organized crime and its influence on modern society, especially in emerging democracies. This may allow politicians and others to predict how economic organized crime will act in the future and how to avoid the current pressure being exerted by these groups.

Details

International Journal of Social Economics, vol. 35 no. 9
Type: Research Article
ISSN: 0306-8293

Keywords

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Book part
Publication date: 8 May 2017

Grietjie Verhoef

The development of banking in Africa followed the demand of exchange networks from traditional indigenous economies to colonial exchange with the European world. The…

Abstract

The development of banking in Africa followed the demand of exchange networks from traditional indigenous economies to colonial exchange with the European world. The establishment of European banking institutions reflected the needs of the capitalist economy introduced by colonialism. The banking management of late nineteenth century and early twentieth century European banks adhered to the interests of shareholders. This chapter shows the emergence of well-managed banks in Africa, but after decolonization the political economy of African independence resulted in state capturing of financial institutions in most African countries. The South African banking system developed in close adherence to the British model. State-owned post-independence banks in Africa failed to deliver the development envisaged. The chapter shows the adverse impact of global economic developments on Africa, resulting in high debt levels. Structural adjustment of African economies and new market-oriented policies allowed the development of locally owned private banking institutions. The high-cost structure of the formal banking system from the dominant South African banks incentivised the mobile money innovation, an arena where African entrepreneurs lead global markets. Financial inclusion remains low in Africa.

Details

Developing Africa’s Financial Services
Type: Book
ISBN: 978-1-78714-186-5

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Article
Publication date: 28 March 2019

Habiba Ibrahim

Guided by the institutional theory of savings, the purpose of this study is to assess the institutional elements of rotating, savings and credit associations (ROSCAs) that…

Abstract

Purpose

Guided by the institutional theory of savings, the purpose of this study is to assess the institutional elements of rotating, savings and credit associations (ROSCAs) that enable participants to save.

Design/methodology/approach

The study used data from in-depth qualitative interviews (N = 10) conducted among the ROSCA group leaders from African immigrant communities in the USA.

Findings

The primary goal for joining the ROSCA group among participants is to achieve economic stability. The results of the study postulate that, through institutional mechanisms and social networks, ROSCAs create an environment for families to save and invest. The emphasis on the concept of “you cannot save alone” underscores the importance of supportive structures to enable low-income households to save. Although “alternative savings programs” such as ROSCAs are imagined as something that less well-to-do persons use, the findings from this study demonstrate that such strategies also appeal to some people with higher socioeconomic status. This appeal and utility speaks to the importance of ROSCAs as an institutional response, rather than just an informal arrangement among persons known to each other.

Research limitations/implications

It is prudent to bear in mind that the study sample is not nationally representative, and therefore, the results presented cannot be generalized to immigrants across the country. However, as one of the few ROSCA studies in the USA, the findings from this study make generous contributions to the immigrants’ savings and ROSCA practices literature.

Practical implications

ROSCAs could be used as a bridge to the formal financial institutions. Non-profit agencies working with these communities could work with these groups to report ROSCA payments to the major credit bureaus, to help them build a credit line in their new country.

Originality/value

Previous studies of ROSCAs have assessed ROSCAs as community support systems and social networks. The current study has analyzed ROSCAs from an institutional perspective by examining the institutional characteristics of ROSCAs comparable to the institutional determinants of savings that enable savings among the participants.

Details

Journal of Enterprising Communities: People and Places in the Global Economy, vol. 13 no. 3
Type: Research Article
ISSN: 1750-6204

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Article
Publication date: 22 February 2021

Tapiwanashe James Museba, Edmore Ranganai and Gianfranco Gianfrate

This paper aims to investigate the impact of fintech, mobile money and digital financial services in Uganda and factors impacting adoption of the services. The study will…

Abstract

Purpose

This paper aims to investigate the impact of fintech, mobile money and digital financial services in Uganda and factors impacting adoption of the services. The study will also determine their social impact through financial inclusion in the Ugandan market.

Design/methodology/approach

This study covers the adoption and use of fintech, mobile money and digital financial services in Uganda. A case study approach was used through a survey questionnaire for 400 randomly selected participants within the Kampala region. Questionnaire was designed to measure customer perception of digital financial services and adoption including mobile money and agency banking.

Findings

The adoption of mobile money services is driven by mobile devices penetration and the need for access to financial products and services for the unbanked. Results support CGAP (2013) that observed that mobile money adoption was based on two key variables: social network and social interactions of the customer and a segment of customers who can be described as mobile technology leaders (early adopters). There has been positive impact on person to person transfers, grocery payments and mobile money providers have to continue to simplify the access to financial services and bring convenience to the bottom of the pyramid. And mobile money positively impacts sustainable developmental goals covering Gender Equality (SDG5), SDG 8 – Decent Work and Economic Growth; expanding financial inclusion through mobile money and SDG 10 – Reduce Inequalities.

Research limitations/implications

This study has limitations commonly prevalent with qualitative research, including the small size limited to Kampala and challenges of making generalisations beyond this context.

Practical implications

The paper might serve as a valuable source of information for government and fintech companies in developing the digital financial services ecosystem as well as for students and academics for further case studies in this area.

Originality/value

This paper serves as one of the first qualitative research papers concerning mobile money and digital financial services adoption, solely focused on Uganda. Its value is in its showcasing of the importance of mobile money among customers in emerging markets.

Details

Journal of Enterprising Communities: People and Places in the Global Economy, vol. 15 no. 2
Type: Research Article
ISSN: 1750-6204

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Article
Publication date: 25 September 2009

M. Cristina Díaz García and Sara Carter

In this paper, a social capital perspective is presented to illustrate the interaction between gender and resource mobilization through business owners' networks.

Abstract

Purpose

In this paper, a social capital perspective is presented to illustrate the interaction between gender and resource mobilization through business owners' networks.

Design/methodology/approach

This paper explores the resources provided by key supporters of small and young Spanish business owners within the professional service sector.

Findings

The findings suggest that a small group of key individuals provides a diverse range of mainly intangible support to the entrepreneur. Overall, the paper finds only limited support for the idea that male and female networks differ in resource mobilization except for the source of contacts‐referrals and emotional capital. The importance of including emotional capital is evident in the fact that men and women seek it in large numbers, although few studies consider it within the resources provided by the entrepreneurial networks, since it is normally attributed to women and the private sphere.

Research limitations/implications

It seems that women business owners, through their embeddedness in networks, can build a bridge between their agency and the structure which normally implies some constraints for them due to the gender‐belief system. Establishing a mentorship program can prove very useful, since business owners prioritize obtaining intangible resources from their key supporters: ideas‐advice, emotional support, and contacts‐referrals.

Originality/value

Despite the research attention on social capital in recent years, prior work has tended to focus on how actors connect (structural dimension); however, there is a dearth of research about the resources actors can potentially gain access to by examining with whom they connect. Moreover, few studies have recognized the impact of gender on networking experiences.

Details

International Journal of Gender and Entrepreneurship, vol. 1 no. 3
Type: Research Article
ISSN: 1756-6266

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Article
Publication date: 20 September 2018

Olaniyi Evans

The increased adoption of internet-enabled phones in Africa has caused much speculation and optimism concerning its effects on financial inclusion. Policymakers, the media…

Abstract

Purpose

The increased adoption of internet-enabled phones in Africa has caused much speculation and optimism concerning its effects on financial inclusion. Policymakers, the media and various studies have all flaunted the potentials of internet and mobile phones for financial inclusion. An important question therefore is “Can the internet and mobile phones spur the inclusion of the financially excluded poor? This study therefore aims to examine the relationship and causality between internet, mobile phones and financial inclusion in Africa for the 2000-2016 period.

Design/methodology/approach

The empirical analysis followed these three steps: examination of the stationarity of the variables; testing for the cointegration; and evaluation of the effects of the internet and mobile phones on financial inclusion in Africa for the 2000-2016 period using three outcomes of panel FMOLS approach and Granger causality tests.

Findings

The empirical evidence shows that internet and mobile phones have significant positive relationship with financial inclusion, meaning that rising levels of internet and mobile phones are associated with increased financial inclusion. There is also uni-directional causality from internet and mobile phones to financial inclusion, implying that internet and mobile phones cause financial inclusion. The study also shows that macroeconomic factors such as capital formation, primary enrollment, bank credit, broad money, population growth, remittances, agriculture and interest rate, as well as institutional factors such as regulatory quality are important underlying factors for financial inclusion in Africa.

Originality/value

In the literature, there is a dearth of research on the internet, mobile phones and financial inclusion, especially in Africa. Most of the related studies are conceptual and micro-based, with little empirical attention to the relationship and causality between internet, mobile phones and financial inclusion. In fact, this dearth of rigorous empirical studies has been attributed as the main cause of inadequate policy guidance in enhancing information communication technologies (Roycroft and Anantho, 2003), despite saturation levels in developed economies. This study fills the gap by evaluating the effects of the Internet and mobile phones on financial inclusion for 44 African countries for the 2000-2016 period.

Details

Digital Policy, Regulation and Governance, vol. 20 no. 6
Type: Research Article
ISSN: 2398-5038

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Article
Publication date: 7 May 2019

Chad Albrecht, Kristopher McKay Duffin, Steven Hawkins and Victor Manuel Morales Rocha

This paper aims to analyze the money laundering process itself, how cryptocurrencies have been integrated into this process, and how regulatory and government bodies are…

Abstract

Purpose

This paper aims to analyze the money laundering process itself, how cryptocurrencies have been integrated into this process, and how regulatory and government bodies are responding to this new form of currency.

Design/methodology/approach

This paper is a theoretical paper that discusses cryptocurrencies and their role in the money laundering process.

Findings

Cryptocurrencies eliminate the need for intermediary financial institutions and allow direct peer-to-peer financial transactions. Because of the anonymity introduced through blockchain, cryptocurrencies have been favored by the darknet and other criminal networks.

Originality/value

Cryptocurrencies are a nascent form of money that first arose with the creation of bitcoin in 2009. This form of purely digital currency was meant as a direct competitor to government-backed fiat currency that are controlled by the central banking system. The paper adds to the recent discussions and debate on cryptocurrencies by suggesting additional regulation to prevent their use in money laundering and corruption schemes.

Details

Journal of Money Laundering Control, vol. 22 no. 2
Type: Research Article
ISSN: 1368-5201

Keywords

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