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 -- Introduction -- Financial Landscapes Reconstructed -- Cultivating Financial Landscapes -- When Banks Flourish or Wither -- From Cheap Credit to Easy Money: How to Undermine Rural Finance and Development -- Consumption Credit in Rural Financial Market Development -- Structuring Credit to Manage Real Risks -- The Performance of Banks in Rural Financial Markets -- A Changing Financial Landscape: The Evolution of Finance Policy in Indonesia -- Informal Rural Finance: An Aladdin’s Lamp of Information1 -- New Shoots of the Old Tree -- Lending to Micro Enterprises Through NGOs in the Philippines -- Micro-Enterprise Credit Programs: Déjà Vu -- When Credit Is Not Due: A Critical Evaluation of Donor NGO Experiences with Credit -- Looking at Financial Landscapes -- Front Multiple Contract to Multiple Context -- Using Contracts to Analyze Informal Finance -- Barriers to Credit Access in Rural Sri Lanka -- Trade Arrangements and Interlinked Credit in the Philippines -- The Agrarian Question of Financial Landscapes: The Case of Ambon -- Mapping and Manipulation of Traders in Sri Lanka -- Finance in Context: Exploring Diverse Exchange Conditions -- From Village to Regional Studies -- Moneylending and Modern Times: Informal Credit in Thailand -- A Changing Financial Landscape in India: Macro-Level and Micro-Level Perspectives -- The Question of Traders as Credit Agents in India -- Moneylenders and Merchant Bankers in India and Indonesia -- The Development of the Pawnshop Industry in East Asia -- ROSCA and ASCRA: Beyond the Financial Landscape