Saturday, May 16, 2020

Evaluating Microfinance Research Paper

Introduction In last few years, the randomized program evaluation has become the gold basis for evaluating the development programs and also the bread and butter of many development economists.   The evaluations sometimes uncover the valuable new information, but are contentious, and can also be prohibitively expensive to implement, for small NGO’s. Appreciating how the microfinance affects clients is not straightforward for the reason that there are several possible explanations for why, say, a borrower is doing well as compared to her non-borrowing peers. The credit may be helping–or conceivably the borrower was already comparatively prosperous and would have fared better even without the loan. These new papers clarify cause and effect by performing controlled experiments, in which a few parameters are arbitrarily varied and the effects measured. The idea of ‘experiments’ sounds good because it gives scientific legitimacy to what are in actual fact social phenomena marked by complex correlations, multiple variables, and extraneous and often invisible factors. Let us look at these reports to see just how ‘controlled’ they are. No discussion of microfinance can start without congratulating the recent awarding of one of this year’s Four Freedom awards to Muhammad Yunus. Since 1982 these bi-lateral awards which celebrate the Four Freedoms – freedom of speech and expression, freedom from want freedom of worship, and freedom from fear have been organized in collaboration with the Roosevelt Foundation in Zeeland.   Professor Yunus was given this prestigious award in celebration of his work in championing for the Freedom from want. The United States government’s principal aid agency, the Agency for International Development, universally known as USAID, is the leading donor for microenterprise development.   This aid reaches more than 3.85 million households and entrepreneurs worldwide through the USAID’s support of NGOs, credit union networks, and financial institutions, and credit union networks. America and microfinance Both the Americans and the Dutch, are familiar from their experience in developing countries that microfinance can be successful in that it empowers the poor by creating higher incomes and more jobs, promotes macroeconomic growth and stabilization. It also encourages the economic and social inclusion and also distinguishes that societies face similar challenges of poverty and unrestricted economic opportunity.   But how, then, can both countries use microfinance in the developed market economies to help eradicate poverty in our own countries? This is a noble and complicated question and many of the sharpest economic minds, are applying their expertise and experience to devising more creative solutions.    To appreciate the current microfinance paradigm in the U.S. today, one needs to first distinguish how the market economy influences the development and relevance of microfinance programs.   But while both the Grameen Bank and the U.S. share the goal of alleviating poverty, eac h must meet that the difference of opinion under fundamentally different economic conditions. For the microfinance programs in the U.S. it means competing in the financial market which is dominated by the healthy commercial credit.   Banks and other lending institutions in the United States have been slow to develop the microfinance concepts because they face strong competition, they have lower profit margins, and carry greater risks than mainstream lending practices ( Fuglesang, 243)The very nature of microfinance is the small financial transactions, such as weekly collection, which needs more labor, thus resulting in higher costs per loan for the financial institution. For any institutions seeking profit and financial resources, they are not able to recoup these transaction costs through the higher interest rates which are regularly charged in the developing countries due to American regulations.  But profitability is fundamental to the future growth of the American microfinan ce as it must compete with the more established financial services such as the credit cards and check-cashing which targets those with lower wage earnings.  In addition to the commercial lending infrastructure, the U.S. presents other systemic market challenges to the function and growth of microfinance tools and the business licensing requirements and market saturation stops many of the poor from successfully launching their personal service businesses such as food preparation, childcare, or hair care.   These challenges are firmly entrenched in the American economy and so too, is the American Dream.  The pull of the American Dream is very tough and in response, many microfinance providers label their services as microenterprise and aims at the microentrepeneurs. But sadly, insufficient collateral, poor credit, and the lack of business education can discourage the poor and other minorities from engaging fully in building the American economy better.   The microfinance princ iples supplies the framework for larger economic inclusion of the socially and the economically marginalized. But unfortunately the government’s programs are not big enough to make available the funding for all who applies for it.   In such a vacuum, not-for-profit and private lenders have biologically proliferated and tended to diversify their services, together with the savings, technical assistance, and business training. Currently, there are about 650 organizations that define themselves as involved in microenterprise development or microfinancing.   However, the definitions differ, but in the U.S. the terms most frequently refer to services for a business with five or fewer employees needing less than $35,000 in start-up capital.  Private, for-profit lenders have also stepped in to make available microfinancing services and with the technology now connecting lenders and borrowers, websites such as Circle-Lending and Prosper.com have produced a market for themselves by linking the private individual lenders with borrowers.   Even though these are normally classified as personal loans, they are a creative response to the requirement to finance innovative ideas.  Ã‚   The assimilation into the bigger economy through the small business ownership is an essential pillar for the overall social cohesion since it combats the feelings of alienation and strengthens the feelings of social belonging.   Women report an increased feeling of independence from receiving a business loan from a micro-lender and thus ensuing in running their own business.   This feeling of economic empowerment normally spills into other areas of civic participation, as well as the deepening of the community networks and some increased political integration. But despite the well-developed financial fields in both countries, some groups, mostly recent the immigrants and minorities, still do not have access to the capital they need so as to launch or augment their small bus iness and fully integrate into mainstream markets.   These persons do not want charity, but instead want opportunities and through the targeted loans to the poor, microfinance promises to generate new livelihoods and enhanced capability for self-improvement. In spite of how much developed a country’s economy is, the microfinance tools can often make the difference required so as to move the marginalized persons and families out of poverty and into the mainstream (Bhatt, 345) Social Impact – Profit vs. Development Benefits First, there is an intrinsic tradeoff between microfinance as a business and as a development tool. Microfinance will predominantly benefit one of two stakeholders commercial enterprises and their shareholders, or poor borrowers. So, how might one test this assertion? By evaluating the interest rates presented by MFI’s and asking the following questions may offer a few clues: How do MFI rates measure up to with what a money-lender was offering? And how do they measure up to those of Grameen Bank – which says it can offer lower interest rates by being ‘non-loss, non-dividend’? Is there a trend towards the higher interest rates and the higher the commercial pressure on an organization? Do the banks offer higher rates than independent MFIs, than grassroots NGOs? Did an MFI’s interest rates go up after it partnered with a bank? Have aggregate interest rates gone up over time, as the need to prove development benefits has gone down? This is an essential test, because if true it lets us to categorize MFIs into two groups and then test for development impact across them and it might also show that most MFIs today embrace the rhetoric of a ‘market based development solution’, by ignoring the fact that development benefits mount up only when the solution is priced somewhat below the market rate as set by the money-lender. This is to say that the major benefit of these providers is to develop the market by bringing in external funds, not any development impact, per se ((Adams, 456) Generating Enterprise – Equity vs. Debt My second contention is that microfinance is intrinsically flawed as a tool to create any sustainable enterprise. Studies show that microfinance ends up funding consumption of individuals and this may well be commendable in itself. But if our goal is to create an enterprise for a long-term economic growth how then can microfinance be more effective? The problem is that the incentives of MFIs are not leaning towards generating sustainable enterprise, but they are oriented basically towards the repayment of loans. However, the latter is not an indication of success of the former and one way to generate private enterprise through the market might then be to use the equity, not debt, to fund the micro and small entrepreneurs. So, here is another test. Do these organizations which take equity stakes in micro and small enterprises (MSE) have a better incubation success rate than the microfinance providers? A good example of a success microfinance success is the Grameen Bank which is a Bangledesh organization that gives small loans to the poor and needy families in order to help those families establish themselves. And for its success story, the Grameen Bank and its founder Muhammad Yunus were recently awarded the Nobel Peace Prize on (Fuglesang, 167) Micro lending But is micro finance effective and does micro credit decrease poverty? The Consultative Group to Assist the Poor (or CGAP) points out that investigational evidence documents that micro finance can alleviate poverty, improve the status of women, increase their education, and maternal health. The empirical evidence shows that, among the poor, those who are in microfinance programs and had access to financial services were able to progress their well-being both at the individual and household level much more than those who did not have right of entry to financial services. Particularly they point to the statistical evidence of a spectacular positive effect on poverty. For instance, the Bangladesh Rural Advancement Committee (BRAC) clients increased their household expenditures by 28% and assets by 112 per cent and after more than eight years of borrowing. It was noted that 57.5% of Grameen borrower households were no longer poor as contrasted to 18% of non-borrower households (Ahmed, 45 ) In the city of Lombok, in Indonesia, the standard income of Bank Rakyat Indonesia (BRI) borrowers amplified by 112%, and 90% of households moved out of poverty while in Vietnam, the organization called Save the Children customers condensed the food deficits from three months to one month. And at Kafo Jiginew in Mali, customers who have been with program for as little time as one year were extensively less likely to have experienced a period of acute food insecurity than those that had experienced the food shortage in the shorter period. But those with the need to evaluate the economic and social impact and the appropriately named â€Å"double bottom line† of micro lending CGAP’s need not look far, but in the microfinance organizations. References Fuglesang and D. Chandler, Participation as a Process what we can learn from Grameen Bank, NORAD, Oslo, 1986. Adams, Dale W. , â€Å"The economics of loans to informal groups of small farmers in low income countries,† (Columbus, Ohio: Agricultural Finance Program, Dept. of Agricultural Economics and Rural Sociology, Ohio State University, 1978). Ahmed, M.U. â€Å"Financing Rural Industries in Bangladesh,† The Bangladesh Development Studies, Vol.12, No 12, Special Issue on Rural Industrialisation in Bangladesh, 1984. Bhatt, N. Microenterprise development and the entrepreneurial poor: including the excluded? Public Administration and Development, (1997). 17, 371-386.

Wednesday, May 6, 2020

Comic Books Effects on Children Essay - 1341 Words

History 129 research paper 11/8/11 1,282 words What if I were to tell you that we could fix all of society’s problems today by getting rid of one of our most profitable media outlets and national past-times? You might ask which media outlet I’m talking about and that is comic books. Comic books have always received flak when it came to how influential they are to children, with scenes of graphic violence, criminal acts of mischief, and over-bearing sexual exploits. Many parents, schools, and communities have also noticed some of the crazy things that go on in comic books and have banded together to try and ban them because they are in fear that these comic books are poisoning our children’s minds to make them believe that committing†¦show more content†¦With no stable foundation or understanding of what society expects of you, it’s hard to live a life and make decisions ethically. A solid percent of the time, these kids that grow up in areas like those only have one option which is gang life. Does that lead to anywhere positive? Gang life leads to a life with constant stress and anxiety because of the thought that you never know when your time is up and to a brutal and unforgiving personality and way of looking at life. Gang-bangers have one objective in mind when it comes to their life and it’s themselves’. Now some of you may say well, â€Å"I’m looking out for my well-being too†, but do you steal from others or kill someone for the simple fact that they don’t wear the same colors as you? Not a right person in their mind would do this because they understand the importance of humanity as aShow MoreRelatedThe Effects Of Comic Books On Children942 Words   |  4 Pagessomewhat innate deep fear rooted in children that would become an overwhelming emotion when exposed to violence in society. Jones saw that comic books could be an avenue to lead children out of this emotion trap. Jones used his son as an example to show how effective this technique really works. â€Å"In the first grade, his friends started climbing a tree at school. But his son was afraid of falling†¦I took my cue from his own fantasies and read him old Tarzan comics, rich in combat and adventure †¦ThenRead MoreArgumentative Essay On Comic Books1642 Words   |  7 PagesEver thought how dumb comic books or graphic novels were growing up? Why such avid readers were called (myself included) nerds? Yet were smarter than you? Think back to how geeky their way of speaking was and they touched on such complexities even for a book! Shortly, reasoning will tell you why comic books are the best. Over the years, from the 20th to 21st century, research and documentation has been stacking up to prove that comic books make their readers smarter. Comics make you want to readRead MoreThe And The Dark Knight And Shows Like The Walking Dead Comic Book Based Properties1688 Words   |  7 PagesComic books, in todays rise of all that is geek it is hard to avoid hearing about the next comic that is being adapted into a movie or TV show. With films like The Avengers and The Dark Knight and shows like The Walking Dead comic book based properties are taking over most of pop culture today. Yet, despite all the attention on these properties there is still an overwhelmingly popular misconception that comics are â€Å"kids stuff.† Yet, unbeknownst to the overall public in western society comics areRead MoreThe Problem Of Drug Addicts1671 Words   |  7 Pagesthe impact that it has in our society and finally it should be addressed to the audience considered as the next generation, the children. Considering the criteria cited above, I had two ideas a comic book or a videogame; but, in the attempt of minimizing as much as possible the costs of the proposal, without compromising the effectiveness of the same, I chose the comic book. I- Previous Solution Surely, because of the severity of the drug problem, several solutions were extrapolated and implementedRead MoreThe Cartoon The Killing Joke 1376 Words   |  6 Pagesmovie this is from? It is actually from a wildly popular comic book called â€Å"The Killing Joke†. Although appearing to be childish, comic books show many adult themes such as violence, gore, and pornography, thereby making them unsuitable for children. Violence is a common theme seen in many different types of entertainment. We see it all the time in movies, T.V. shows, and video games. However, when there is violence present in comic books they tend to go beyond what we expect. It could vary fromRead MoreHistory Of American Comic Comics Superheroes1191 Words   |  5 PagesHistory of American Comic Book Superheroes. Before they become significant box-office phenomena and debut for TV serious, superheroes were short stories in printed media. Supermen, Batman, Captain America, Wonder Woman †¦were comic books superheroes. The idea of superheroes was long existed. However, as many comic books historians agreed, The Phantom, published in February 17, 1936, is considered to be the first comic book costumed hero. Since then, comic books superheroes were booming. In the mid-1940sRead MoreThe Superhero Effect: Idealism and Stereotypes in Comic Books1577 Words   |  7 Pagesparagons. In a medium such as comic books, however, these standards and perceptions are heavily distorted by the characterizations and settings. Particularly, the superhero genre absorbs the ideals we strive towards and regurgitates them in an extreme and unrealistic manner. The superhero genre is often reflective of societal changes in ideas and morals. These ideals are then molded into misleading representations that influen ce the behaviors of viewers. Comic books absorb elements of our societyRead MoreThe Comic Book MAUS1288 Words   |  5 PagesMAUS Introduction Since the publishing of the comic book MAUS, there has been a broad debate not only from the survivors of the Holocaust but within the Jewish community pertaining to the appropriateness and representational meaning of the Holocaust in the modern literature. Many people who participate in the discussions or read the book have perceived the comic fashioning of the book as trivial, hence making the book appear as mocking, derogatory and comedic. Nevertheless, this is not theRead MoreComic Books And Its Impact On Society1631 Words   |  7 PagesComic books has being one of the most popular segments of art and communication since it was created. During Human History, the comics were adapted to each time events. It is possible to notice not only in the creation of Captain America in the 40’s to support the soldiers in the World War II but also the attack to the World Trade Center Building in 2001. Sexuality issues were also inserted in the comics to debate contemporary subjects to show that comics can change, tell stories of real people andRead MoreThe Cold War Between The United States Of America And The Soviet Union1501 Words   |  7 Pagesinfluence worldwide. Various pieces of propaganda and articles written during the time had largely impacted American popular opinion and had powerful effects on the culture among young men and women of the 1940’s and 1950’s. â€Å"The Red Iceberg† comic book cover, published and presented during the Cold War era, was one use of media that perpetuated the negative effects of Soviet Union political influence while promoting the righteousness of the United States. The visual rhetoric presented in â€Å"The Red Iceberg†

Tuesday, May 5, 2020

Causes of Revolutionary War Essay Example For Students

Causes of Revolutionary War Essay During the late seventeen hundreds, many tumultuous events resulted in Colonial opposition to Great Britain. The conditions of rights of the colonists will slowly be changed as the constriction of the parliament becomes more and more intolerable. During the Seven Years War England was not only alarmed by the colonists insistence on trading with the enemy, but also with Boston merchants hiring James Otis inorder to protest the legality of the writs of assistance (general search warrants) used to hunt out smuggled goods. let the parliament lay what burthens they please on us, we must, it is our duty to submit and patiently bear them, till they will be pleased to relieve us.. ... This is a very strong dictum, that in 1764, the colonists were of a submissive nature, and were weakly pleading for self-autonomy. This small fire of anger will become a huge conflagration as the rights are slowly rescinded. On October 19, 1765 the Stamp Act Congress and Parliamentary Taxation committees passed some laws that attempted to strengthen the grip of the English crown. I.That his Majestys subjects in these colonies, owe the same allegiance to the Crown of Great Britain that is owing from his subjects born within the realm, and all due subordination to that august body, the Parliament of Great Britain. This statement can be used as a summation of the entire document that the Stamp Act Congress had initiated. The statement depicts the colonists has having to be submissive and servile in the view of Great Britain, this policy angered the colonists very much, and was another component of the transition of the colonists rights and liberties. When the Declatory Act was passed in March of 1766, many colonies were attempting to claim that they were seceding from England. Whereas several of the houses of representatives in his Majestys colonies and plantations in America, have of late, against law, or to the general assemblies of the same, the sole and exclusive right of imposing duties and taxes upon his Majestys subjects in the said colonies. be it declared ., that the said colonies and plantations in America, have been, are, and of right ought to be, subordinate unto, and dependent upon the imperial Crown and Parliament of Great Britain;. The Parliament of course denounced the attempt at independance and still dogmatilcally passed the following law to show that the colonists were still british subjects. Again, the colonists were infuriated and later will resist the british imperialism on the All before, are calculated to regulate trade, and preserve prpromote a mutually beneficial intercourse between the several constituent parts of the empite, yet those duties were always imposed with design to restrain the commerce of one part. This statement by the colonist (John Dickinson), shows that th sole rason for new taxes is just for the British govt to make money, at the expense of the economy of the colonies. Dickinson makes a important distinction between the rights of the colonies and the authority of the parliament. Dickinsons comments were ubiquitous among the colonists, and thus infuriated them to rebellion, and the seizure of From necessity of the case, and a regard to the mutual interest of both countries, we cheerfully consent to the operation of such acts of the British parliament as are bona fide restrained to the regulation of our external commerce, for the purpose of securing the commercial advantages of the whole empire to the mother country, and the commercial benefits of its respective members excluding every idea of taxation, internal or external, for raising a revenue on the subjects in America without their consent . The continental congress had presented its colonial rights. These rights enable the colonies to be more autonomous with exception to those several states who are under the british control. .ue4956326e36c05fb2286e291e996955e , .ue4956326e36c05fb2286e291e996955e .postImageUrl , .ue4956326e36c05fb2286e291e996955e .centered-text-area { min-height: 80px; position: relative; } .ue4956326e36c05fb2286e291e996955e , .ue4956326e36c05fb2286e291e996955e:hover , .ue4956326e36c05fb2286e291e996955e:visited , .ue4956326e36c05fb2286e291e996955e:active { border:0!important; } .ue4956326e36c05fb2286e291e996955e .clearfix:after { content: ""; display: table; clear: both; } .ue4956326e36c05fb2286e291e996955e { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ue4956326e36c05fb2286e291e996955e:active , .ue4956326e36c05fb2286e291e996955e:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ue4956326e36c05fb2286e291e996955e .centered-text-area { width: 100%; position: relative ; } .ue4956326e36c05fb2286e291e996955e .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ue4956326e36c05fb2286e291e996955e .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ue4956326e36c05fb2286e291e996955e .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ue4956326e36c05fb2286e291e996955e:hover .ctaButton { background-color: #34495E!important; } .ue4956326e36c05fb2286e291e996955e .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ue4956326e36c05fb2286e291e996955e .ue4956326e36c05fb2286e291e996955e-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ue4956326e36c05fb2286e291e996955e:after { content: ""; display: block; clear: both; } READ: North Korea Essay One important element of the document, is the idea of taxation without representation; the said that raising taxes without consent was illegal and that the commercial benefits of the colony should be shared within the colonies, instead of England becoming more and more economically prosperous. The whole idea of mercantilism was about to be crushed, due to this idea, of self-autonomy with respect to colonial economics. Ye that oppose independence now, ye .