The past few decades have seen special and changing emphasis in policy frameworks of rural financial intermediation in developing countries, varying from the distribution of cheap credit via specialized farm credit institutions, to the building of linkages between banks and savings groups, to attempts to use traders or NGOs as new conduits of lending. The destructive impact of cheap credit programs on rural financial markets has been the subject of two conferences organized by the Ohio State University in the USA in 1976 and 1981, in conjunction with the Agency for International Development and the World Bank. They resulted in a collection of readings edited by J.D. Von Pischke, Dale W Adams and Gordon Donald, Rural Financial Markets in Developing Countries (Baltimore: Johns Hopkins Press 1983), followed by Undermining Rural Development With Cheap Credit, edited by Dale W Adams, Douglas H. Graham and J.D. Von Pischke (Boulder: Westview Press 1984). Acknowledging the increasing interest of researchers and policymakers in the roles and uses of informal financial intermediaries, the Ohio State University subsequently organized a Seminar in Washington, D.C., in 1989 that produced Informal Finance in LowIncome Countries, edited by Dale W Adams and Delbert A. Fitchett (Boulder: Westview Press 1992).
Table of Contents
Preface -- PART ONE – INTRODUCTION -- 1 Financial Landscapes Reconstructed / F.J.A. Bouman and Otto Hospes -- PART TWO -- CULTIVATING FINANCIAL LANDSCAPES -- When Banks Flourish or Wither -- 2 From Cheap Credit to Easy Money: How to Undermine Rural Finance and Development / Hans Dieter Seibel -- 3 Consumption Credit in Rural Financial Market Development / Franz Heidhues -- 4 Structuring Credit to Manage Real Risks / J.D. Von Pischke -- 5 The Performance of Banks in Rural Financial Markets / Henk A.J. Moll -- 6 A Changing Financial Landscape: The Evolution of Finance Policy in Indonesia / Ross H. McLeod -- 7 Informal Rural Finance: An Aladdin's Lamp of Information / F.J.A. Bouman -- New Shoots of the Old Tree -- 8 Lending to Micro Enterprises Through NGOs in the Philippines / Prabhu B. Ghate -- 9 Micro-Enterprise Credit Programs: Déjà vu / Dale W Adams and J.D. Von Pischke -- 10 When Credit Is Not Due: A Critical Evaluation of Donor NGO Experiences with Credit / Charles Abugre -- PART THREE -- LOOKING AT FINANCIAL LANDSCAPES -- From Multiple Contract to Multiple Context -- 11 Using Contracts to Analyze Informal Finance / Dale W Adams -- 12 Barriers to Credit Access in Rural Sri Lanka / Rauno Zander -- 13 Trade Arrangements and Interlinked Credit in the Philippines / Maaike Hendriks -- 14 The Agrarian Question of Financial Landscapes: The Case of Ambon / Otto Hospes -- 15 Mapping and Manipulation of Traders in Sri Lanka / Sarah Southwold-Llewellyn -- 16 Finance in Context: Exploring Diverse Exchange Conditions / Ben Crow -- From Village to Regional Studies -- 17 Moneylending and Modem Times: Informal Credit in Thailand / Dirk Steinwand -- 18 A Changing Financial Landscape in India: Macro-Level and Micro-Level Perspectives / J. Howard M. Jones -- 19 The Question of Traders as Credit Agents in India / Barbara Harriss-White -- 20 Moneylenders and Merchant Bankers in India and Indonesia / Heiko Schrader -- 21 The Development of the Pawnshop Industry in East Asia / Michael T. Skully -- 22 ROSCA and ASCRA: Beyond the Financial Landscape / F.J.A. Bouman -- About the Contributors – Index.