From Urban to Rural: Lessons for Microfinance from Argentina

The recent success of microfinance for the urban self‐employed contrasts with decades of failure on the part of public development banks for small farmers. This article describes the ways in which rural microfinance organisations have tried to adapt the lessons of urban microfinance to manage the risks and control the costs of the supply of financial services in rural areas. It then asks whether the lessons of urban microfinance are likely to apply in the poorest rural areas of Argentina. The article concludes that microfinance is unlikely to improve access to small loans and small deposits for many of the rural poor in Argentina; distances are too great, farmers too specialised, and wages too high. Improved access depends not on targeting loans by government decree but on strengthening institutions that support financial markets.     

Sustainability and depth of outreach: Evidence from microfinance institutions in sub‐Saharan Africa

The feasibility of microfinance institutions (MFIs) to expand outreach to the poorest while remaining financially sustainable has long been debated. Using data from 206 MFIs in 33 African countries, we adopt the three‐stage least square technique to assess whether a trade‐off exists between sustainability and outreach depth. Our results confirm the existence of a trade‐off. The evidence also supports ongoing subsidies for MFIs with the aim of encouraging outreach. In addition, we examine whether there is an inflection point beyond which higher interest rates reduce profitability for MFIs. We find no evidence of a threshold beyond which profitability is reduced.     

The Banking Network as a Transmission Channel of Migrant Remittances: The Case of Greek and Italian Banks in Albania

The paper examines the role of the banking network of foreign banks, namely Greek and Italian banks, on the transfer of remittances of Albanian immigrants. Remittances through the official network that is formed mainly by the banking network, grew much higher in comparison to non-official network during the period 1994–2006. The paper finds that the growth of the amount of remittances conveyed through the official network as part of the total amount of remittances is related to the evolution of branches of Greek and Italian banks in Albania.

Privatizing public pension systems: Lessons from Latin America

The major goal of this analysis is to examine the pros and cons of privatizing public pension schemes based on the Latin American experience. The study draws on evidence from four countries that have fully privatized their public pension schemes (Chile, Mexico, Bolivia, and El Salvador) and four that have partially privatized (Argentina, Uruguay, Colombia, and Peru). Some evidence suggests that privatization is having positive economic effects, contributing to the development of financial institutions and the availability of investment capital. It may also be increasing national savings rates and the rates of economic growth, but on these issues there is less agreement. The benefits of privatization go primarily to high-wage male workers with few benefits for low-wage and female workers. As a result, privatization contributes to both income and gender inequality. Efforts to draw lessons for the US must take into consideration numerous political and economic differences.     

Young African American Males: Barriers to Access to Health Care

African American males continue to experience an unacceptable and disproportionate number of health disparities when compared with other racial and ethnic groups. Young African American males can expect to live the least amount of time when compared to any other ethnic minority or racial sub-group. Understanding the obstacles and barriers that impede access to health care and wellness services among young African American males is essential to begin the process of decreasing health disparities. The goal of this qualitative study was to explore and identify the barriers experienced by young African American males in accessing health care services while also creating a rare opportunity to give voice to young African American males. The study results indicate that young African American males have multiple perceptions of barriers to health care services. Their perceptions fell into three categories: the negative impact of environment or community, lack of finances or no insurance, and distrust of medical practices associated with race history resulting in accessing healthcare as a last resort. Additional research is needed to craft community-based programs to: a) educate young African American males on the importance of preventative strategies to maintain wellness; and b) ensure that the appropriate medical and wellness services are available and reaching young African American males in need.     

美国离岸金融及其对人民币国际化的启示

美元真正取代英镑成为国际储备货币,这主要取决于美元的稳定性、美国的经济实力和金融市场发展的成熟。而美元离岸市场的发展,更促进了美元作为一种主导型的国际储备货币,在国际贸易和金融交易中发挥主导作用。人民币要成为一种国际性货币,中国就必须要有一个开放性的、发展很广很深的、流动性很好的金融市场,这样才能保证人民币成为一种国际性货币。人民币国际化,主要是交易结算发展的过程,其次是人民币境外市场发展的过程。现在最主要的还是增加跨境人民币的流动性,对人民币从境外流向境内的控制可以谨慎一点;但境内人民币流向境外对境内的冲击要小,所以可以放得更宽一点。在这种情况下,最好的模式就是通过自贸区来发展,把一些管制的措施放得更快、更广。     

Lessons from American Social Work Education: Caution Ahead

Abstract

Similar trends are occurring in Australian and US social work education, as universities increasingly adopt a rigid market orientation to tertiary education. This marketisation shapes social work education in manifold ways, including the pressure to increase revenues (and effect greater efficiencies) by expanding the size of social work programs. The unregulated growth in social work programs leads to lowered admission standards, as programs are forced to compete for students. An oversupply of social workers will also drive salaries downwards as supply eclipses demand. These issues are examined in the context of a “big” versus a “small” (fewer but more highly trained social workers) model of social work. Emphasis is placed on the lessons that Australian social work educators can learn from the challenges facing US social work education.     

Financial literacy education: An opportunity for colleges and sociology

Financial literacy represents the knowledge necessary to manage one's financial affairs in a way that contributes to overall wellbeing, yet financial literacy and financial education are understudied in sociology. While emerging adults have low rates of financial literacy overall, this article focuses on college students due to increasing college access and student loan debt. Based on the limited literature that assesses college financial literacy education, it appears that these types of programs may serve to advance college students' financial knowledge. Additional mechanisms that serve to develop college students' financial literacy include parent socialization, banking experience, and high school financial education programs. However, not everyone has the same access to these resources. Thus, given the magnitude of the US student debt crisis and persistent economic inequalities, college financial literacy education may prove beneficial for all students, particularly those from economically vulnerable backgrounds. This article serves as an invitation to sociologists to consider financial literacy education as both a worthwhile pursuit in application and as a research topic.     

The Rise of China: Implications for Latin American Development

This article analyses the implications of the rapid economic rise of China for the development prospects of Latin America. Based on an analysis of the changing trade relations between China and 15 Latin American countries over the period 2000–6, it argues that these relations have significantly exacerbated the subcontinent's dilemma of being caught in the middle‐income trap. At the same time, some of the key drivers behind China's economic success point to a possible solution, first and foremost the lessons provided by its proactive development strategy which has focused on developing domestic technological capabilities and diversifying the productive structure with a move up the value chain.     

Financial decision-making abilities and financial exploitation in older African Americans: Preliminary validity evidence for the Lichtenberg Financial Decision Rating Scale (LFDRS)

ABSTRACT

This study examines preliminary evidence for the Lichtenberg Financial Decision Rating Scale (LFDRS), a new person-centered approach to assessing capacity to make financial decisions, and its relationship to self-reported cases of financial exploitation in 69 older African Americans. More than one third of individuals reporting financial exploitation also had questionable decisional abilities. Overall, decisional ability score and current decision total were significantly associated with cognitive screening test and financial ability scores, demonstrating good criterion validity. Study findings suggest that impaired decisional abilities may render older adults more vulnerable to financial exploitation, and that the LFDRS is a valid tool.     

Deliberative polling for multistakeholder internet governance: considered judgments on access for the next billion

Multistakeholder Internet governance aspires to fulfill democratic values in a process of dialogue producing results that can be considered for possible action. How can these goals be accomplished when the participants in these processes come from entities as varied as corporations, governments, civil society and academia drawn from countries all over the world? How can such a multistakeholder process embody democratic values? How can it be based on dialogue? What kinds of results can it produce? This article applies Deliberative Polling as a possible solution to this problem by using a stratified random sample of netizens, citizens of the Internet, drawn from all the relevant stakeholders of the Internet Governance Forum, engaged together in dialogue and with opinions collected in confidential questionnaires before and after deliberation. This pilot application focused on the topic of Internet access ? policy proposals to increase access for the next billion users. We believe it demonstrates the possibility that deliberators drawn from all these sectors can participate in substantive dialogue weighing the merits of issues and coming to specific conclusions. The pilot was limited in its duration and scale but produced, nevertheless, results that strongly support the conclusion that this approach to multistakeholder Internet governance is promising.     

Health Care of American Indian Elderly: Determinants of the Perceived Difficulty Obtaining Access to Health Care

This study examines the perceived areas of difficulty in obtaining access to health care and the factors influencing that difficulty among elderly American Indians in a rural environment. One hundred thirty-seven elderly Indians in the Ponca and Pawnee tribes of Oklahoma were interviewed. Four major difficulties are reported: a long waiting period at Indian health centers, difficulty in making appointments to see physicians, language and cultural barriers to communication with the health care providers, and lack of available transportation. The long waiting period is the most serious problem, and lack of transportation is the least serious. The results of probit analysis show that physical health, automobile ownership, education, employment, and the presence of an informal caregiver are related to difficulty obtaining access to health care. Ways to minimize this difficulty are discussed.     

A Model Program for Increasing Treatment Access for African American Women Who Use Crack Cocaine and Are at Risk of Contracting HIV

ABSTRACT

In the United States, the threat of HIV/AIDS to African-American women's health has become the focus of much concern. This article describes a federally funded community-based program that provides services to African-American women at risk for HIV/AIDS in Nashville, TN. This program provides a culturally relevant set of interventions specific to crack cocaine users aimed at reducing substance use and HIV/AIDS risk behaviors. The model is important to the continued development of culturally relevant interventions that are vital to stemming the disproportionate rates of HIV/AIDS within the African-American community by ensuring treatment access to all populations.     

The Effect of Remittances on Economic Growth in Kyrgyzstan and Macedonia: Accounting for Financial Development

Kyrgyzstan and Macedonia have experienced a reasonable increase in remittances over the last twenty‐five years. Subsequently, the extent to which remittances can be instrumental for economic development of the two countries has gained serious attention in recent development dialogues. The aim of this study is to examine the impact of remittances versus financial development on the economic growth of the two counties, complementing the burgeoning interest and focus on remittances for policy. The short‐run and the long‐run effects and the causality dynamics of remittances and financial development, are explored. The results show a long‐run positive impact of remittances on the economic growth of these countries. The impact of financial development is negative, significant only for Kyrgyzstan and not statistically significant for Macedonia. The causality results show that remittances support economic growth for Kyrgyzstan, whereas economic growth appears to propel remittances for Macedonia.     

The Association of Alternative Financial Services Usage and Financial Access: Evidence from the National Financial Capability Study

This study examined the association of financial access and alternative financial services (AFS) using a nationally representative sample from the 2012 National Financial Capability Study (N = 25,509). Structural equation modeling was used to examine the relationship between financial access and AFS usage. Ordinary least squares regression was used to estimate the relationship between banked status and the overall AFS usage as a latent variable while controlling for sociodemographic variables, financial education, financial knowledge, and home ownership. Results suggested that being unbanked was positively associated with AFS usage after controlling for other covariates. Financial education and knowledge, age, gender, marital status, education, household income, and homeownership were significantly associated with AFS usage. These findings have implications for public policy and programs that work with the unbanked.     

Financial management: Development of scales

This study is a contribution to the development of family resource management scales, specifically financial management scales. Principal axis factor analysis, with varimax rotation, is used to assess underlying relationships in 23 family resource management variables related to time and money resources. Reliability and content, construct, and criterion-related validity of the scales are assessed. Two scales that are reliable and have some degree of validity are developed: frequency of financial problems and frequency of financial management. The scales could be used in future research, teaching, or counseling to organize financial management concepts.Preparation of this research was supported in part by the Illinois Agricultural Experiment Station. Data were collected in conjunction with the cooperative regional research project NC-182, Family Resource Utilization as a Factor in Determining Economic Well-Being of Rural Families. Cooperating states are Arizona, California, Illinois, Indiana, Iowa, Kansas, Michigan, and Minnesota.She received her Ph.D. from the University of Illinois; her current research interests include gender roles, family financial management, and economic well-being.Her current research interests include family financial management and consumer bankruptcy. She received her Ph.D. from the University of Missouri.Her current research interests include the economic well-being of various family forms. She received her Ph.D. from the University of Illinois.She received her Ph.D. from the University of Illinois. Her research interests are economic well-being and quality of life.     

Building Financial Knowledge Is Not Enough: Financial Self-Efficacy as a Mediator in the Financial Capability of Low-Income Families

ABSTRACT

Policymakers in many countries have taken an interest in population-level financial capability. Limited empirical work has examined how constructs that makeup financial capability relate and how they function for individuals with low incomes. Using a national sample of low-income Canadians, we investigate relationships between financial knowledge, financial self-efficacy, and savings outcomes. Overall, we find that financial self-efficacy fully mediated the relationship between objective financial knowledge and postsecondary-education saving. The association between objective financial knowledge and retirement saving and emergency saving passed through financial self-efficacy. Efforts to promote financial capability need to focus on more than objective financial knowledge.     

Remittances and labour market outcomes: Evidence from Mexico

The effects of remittances on labour market outcomes have been studied by many researchers, primarily using micro‐level data. While a few studies have also used macro‐level data, they suffer from endogeneity bias due to the inclusion of remittances in their estimations. The present study attempts to fill the gap in the literature by using a set of panel data of Mexican states and by addressing the endogeneity bias with a system GMM (generalized method of moments) estimator. The main conclusions are that remittances increase labour force participation rates and reduce median hours worked, critical employment and unemployment duration.