...Lending Institutions, Health Care, and Human Capital Monique Johnson Professor Cathey SOC300 Explore whether or not funding from international lending institutions like the World Bank and the IMF are helping or hindering the social, economic, or political development of the country that you have selected. Support your response with examples. The policies of the International Monetary Fund and the World Bank have systematically undermined democratic principles and eroded human rights protections in dozens of countries around the globe. By insisting that national leaders place the interests of international financial investors above the needs of their own citizens, the IMF and the World Bank have short circuited the accountability at the heart of self-governance, thereby corrupting the democratic process. The subordination of social needs to the concerns of financial markets has, in turn, made it more difficult for national governments to ensure that their people receive food, health care, and education -- basic human rights as defined by the Universal Declaration of Human Rights. The Bank's and the Fund's erosion of basic human rights and their perversion of the democratic process have made the institutions a clear and present threat to the well-being of hundreds of millions of people worldwide. The institutions, Global Exchange strongly believes, must be abolished and redesigned from scratch through a genuinely democratic, inclusive and transparent process involving all...
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...Haiti: Lending Institutions, Health Care, and Human Capital SOC 300 5 March 2015 Haiti: Lending Institutions, Health Care, and Human Capital Due to capital limitations, most governments, particularly in the developing nations borrow funds from their bilateral friends and organizations such as World Bank and International Monetary Fund (IMF) in earnest to enable them pursue development projects, and sometimes to correct balance-of-payment deficits. Nevertheless, such governments must adhere to some outlined conditions that are spelt out in the article of agreement in order for them to secure the loans; otherwise, the loans are withheld (White, 2012). Equally, a healthy population significantly contributes to economic development of a nation in various ways. This paper outlines how Haiti, one of the developing states, has used loans and grants for development. In addition, the paper outlines how a healthy population affects Haiti’s economic development. How Funding from IMF and World Bank and Other Financial Institutions Affects Haiti’s Economic and Political Development Since her independence up to date, Haiti remains to be heavily indebted because the country borrows from World Bank, IMF, bilateral friends, and from regional banks such as IADB. By June 2009, Haiti’s debts totaled to $1.2 billion (Frankema & Masé, 2014), whereby most of these debts are taken with an aim of funding development projects and correcting her balance-of-payments. However, the funds are...
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...CHAPTER ONE INTRODUCTION 1.1 Background of the Study Many people in developing countries neither have their own bank accounts nor are they able to take out loans, transfer money or insure their families against risks such as illness, accident or death. In most cases, access to these financial services that are so central to sustainable development are either denied or made very difficult. Consequently, people frequently have no choice but to resort to local moneylenders who charge usurious rates of interest or use informal and, therefore, insecure ways of performing transactions such as payments and money transfer. The above is reflected in the quotation by the past Secretary-General of the United Nations: ‘‘The stark reality is that most people in the world still lack access to sustainable financial services, whether it is savings, credit or insurance. The great challenge before us is to address the constraints that exclude people from full participation in the financial sector. Together, we can and must build inclusive financial sectors that help people improve their lives (United Nations, 1997).’’ With almost thirty per cent of the country's population living in poverty, the Government of Ghana clearly faces an enormous challenge to reduce poverty especially in the three northern savannah regions where there is the greatest concentration of poor people. To achieve rapid and sustainable reduction in poverty, it is necessary to have an integrated policy with the various...
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...Mike Morgan PSC 403: Public Policy Final Exam April 13, 2011 Causes of the Great Recession The Great Recession was something terrible and ugly in the making. This creature had been brewing since the late 70’s and was as fierce as ever by 2007. The Great Recession of 2008-09 has not one cause but several that were clearly underestimated by those in charge as well as average citizens of this country. The left will argue that there was a complete lack of regulation put in place to observe what was happening with mortgage lending. Robert J. Samuelson believes that “there was enough oversight that alert regulators should have spotted problems and intervened to stop dubious lending” (Samuelson, 19). They also say that there were numerous incentives for regulators and investors to ignore the risks that were being taking, which entails a tremendous amount of greed on their part of the matter. The left also states that there was a ‘mindless devotion to free markets’. Now their opponents on the right side of the fence will argue that interest rates had been too low for too long, and that the housing bubble had to pop eventually. They also insisted that the government’s housing policy was to get as many citizens to purchase a house as possible. They used tax incentives, rebates, and low interest rates to get homebuyers to act. I felt it was important to mention what the left and the right believed caused the Great Recession of 2008-09. Once we look at this disaster from...
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...Micro-Finance in India Micro-Finance in India Submitted by: S.GINMUANSANG NGAIHTE This project work is submitted as fulfillment of the requirement of B.COM(hons) Part III of Delhi University Submitted to: Prof. Shuchi Pahuja PGDAV college, Delhi University. Submitted by: S.GINMUANSANG NGAIHTE This project work is submitted as fulfillment of the requirement of B.COM(hons) Part III of Delhi University Submitted to: Prof. Shuchi Pahuja PGDAV college, Delhi University. Shri Ram College of Commerce B.Com(h) Part-III Roll no.13/10 #9650430713 [Type the fax number] [Pick the date] Shri Ram College of Commerce B.Com(h) Part-III Roll no.13/10 #9650430713 [Type the fax number] [Pick the date] DECLARATION I S.Ginmuansang Ngaihte hereby declare that the Project entitled Micro-finance in India submitted to University of Delhi in fulfillment for the degree of Bachelor in Commerce (honors). Whatever is written in this project is a bonafide work of mine and to the best of my knowledge. Place: Signature Date: ACKNOWLEGDMENT The satisfaction and euphoria that accompanied the successful completion of any task would be incomplete without the mention of the people who made it possible, whose constant guidance and support led to ultimate success. I would like to take this opportunity to express my profound gratitude and respect to my mentor Dr. Shuchi Pahuja, Associate Prof...
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...Japan’s Economic Malaise Three simple models for why Japan’s economy will never grow again Michael Smitka Professor of Economics Washington and Lee University Lexington, VA 24450-0303 MSmitka@wlu.edu Version 2 May 23, 2003 ---------------The first version was entitled Three Simple Models for Undergraduate Economists and was prepared for the ASIANetwork Conference, Furman University, April 11-13, 2003. This paper differs primarily in the introduction and summary, and in the addition of more figures. The core analysis and most of the calculatioins remain the same. Smitka / The End of Growth v2 May 23, 2003 Page 1 I. Introduction I argue below that Japan’s economy will not grow again, and that (with hindsight) this should not be surprising. First, Japan has matured, to the point where its labor force is in decline. Such an economy is unlikely to grow in absolute terms. Second, that maturation occurred in a short span of time, resulting in large structural shifts in the economy. These strained the Japanese financial system past the breaking point, and have stymied efforts at macroeconomic stimulus. I believe, however, that the magnitude of these shifts would have overwhelmed any financial structure. I do not deny that Japan’s financial system exhibited large vulnerabilities, and its macroeconomic policy systematic failures. Again, I believe that these are beside the point. Third, the current structure of Japan’s economy is not sustainable; financial liabilities (bank...
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...Role and Influence of International Financial Institutions Danny Leipziger Abstract Development thinking has evolved from the early works of W. Arthur Lewis and Paul Rosenstein-Rodan and has been influenced by new and varied schools of thought. Emphases have shifted from capital accumulation and technical progress to human capital investment and social inclusion. Institutions have come into the equation, as has a prominent role for markets and for the state as drivers of development. Underlying these views were practicalities that shaped the way countries dealt with their need for foreign capital, the management of the macroeconomy, and their responses to economic and financial crises. There was a prominent role for the so-called Bretton Woods institutions, namely, the World Bank and the International Monetary Fund, in shaping prevailing views of development and putting them into practice. This Danny Leipziger The Role and Influence of IFIs has been important, both directly and indirectly, in affecting policy choices made by developing country governments over past decades. Keywords: Bretton Woods Institutions; World Bank ideology toward development; IMF ideology and development; changing development paradigms; international financial institutions; Bank-Fund Collaboration; Bank-Fund Concordat. Chapter 49 Page 2 Danny Leipziger The Role and Influence of IFIs Introduction International financial institutions (IFIs) have strongly influenced development thinking...
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...SUSTAINABLE BANKING -AN INDIAN PERSPECTIVE Abstract ------------------------------------------------- The contribution of financial institutions including banks to sustainable development is dominant, considering the crucial role they play in financing the economic and developmental activities of the world. In this context, the urgency for banks to act as responsible corporate citizens in the society, especially in a developing country like ours, need be hardly overemphasized. Their activities should reflect their concern for human rights and environment. Since banking sector is one of the major stake holders in the Industrial sector, it can find itself faced with credit risk and liability risks. Further, environmental impact might affect the quality of assets and also rate of return of banks in the long-run. Thus the banks should go green and play an upbeat role to take environmental and ecological aspects as part of their lending principle, which would force industries to go for mandated investment for environmental management, use of appropriate technologies and management systems. This paper explores the developments of environmental concern in Indian banks, their environmental impact, and their role in the economy as a driving force for more proactive policies toward sustainable development. 1Introduction Banks and financial intuitions have played major role in the economic development of the country and most of the credit- related schemes of the government...
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...Non-Performing Assets (NPA) - Meaning Non-Performing Assets are popularly known as NPA. Commercial Banksassets are of various types. All those assets which generate periodical income are called as Performing Assets (PA). While all those assets which do not generate periodical income are called asNon-Performing Assets (NPA). If the customers do not repay principal amount and interest for a certain period of time then such loans become non-performing assets (NPA). Thus non-performing assets are basically non-performing loans. In India, the time frame given for classifying the asset as NPA is 180 days as compared to 45 days to 90 days of international norms India and Non-Performing Assets In India, NPA were very high in the beginning of 90's. Over a period of time there is considerable decline in the NPA's of all banks. In the case of public sector banks, gross non-performing assets were 9.4% in 2002-03 and it declined to 7.8% in 2003-04. The net NPA during the same period declined from 4.5% to 3%. Types of NPA NPA have been divided or classified into following four types:- 1. Standard Assets : A standard asset is a performing asset. Standard assets generate continuous income and repayments as and when they fall due. Such assets carry a normal risk and are not NPA in the real sense. So, no special provisions are required for Standard Assets. 2. Sub-Standard Assets : All those assets (loans and advances) which are considered as non-performing for a period of 12...
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...many of these poor and/or unemployed persons are not without skills, ideas and willingness to work, must have propelled the government to make finance accessible to them The seeming popularity of this model among developing countries is predicated on poverty reduction prospect it offers. The Nigerian government cued into this popular thinking in 2005 when it inaugurated the microfinance banking scheme. This was founded to provide finance to economically active poor excluded from financing by conventional banks, provide employment, engender rural development and reduce poverty. This paper theoretically examines the impact of this institutions to Nigeria as a country. International Journal of Finance and Accounting Concept of Microfinance Microfinance pertain to the lending of small amount of capital to poor entrepreneurs in order to create a mechanism to alleviate poverty by providing the poor and destitute with resources that are available to the wealthy, alert at a small scale. Micro-finance is a term used to refer to different methods for giving poor people access to financial services. Irobi (2008) defined microfinance as the provision...
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...of Bank And Non Bank Financial Institute Executive Summery This paper deals with some banks & non-banking financial institutions which are performing CSR. It is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large. It would be give strategic, longer run competitive advantage for banks and non-banking financial institutions in Bangladesh to embrace CSR in their management approaches and operations, with initiatives chosen in broad-based, extensive stakeholder engagement. Corporate social responsibility may help to establish clear boundaries among the different interests of the groups like shareholders, citizens, providers, and customers. In this paper, we will describe, analyze, and formalize the critical responsibility parameters, as well as the variables that shape them. Introduction The title of our term paper is “Comparative Study on the Corporate Social Responsibility Performing by Banking, Non-Banking Financial Institutions” . Globally, the notion of Corporate Social Responsibility (CSR) is fast gaining acceptance as the contribution that businesses can and should make voluntarily towards environmentally sustainable and socially...
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...Kyoto Bulletin of Islamic Area Studies, 1-2 (2007), pp. 38-53 Islamic Microfinance: A Missing Component in Islamic Banking Abdul Rahim ABDUL RAHMAN 1. Introduction Microfinance means “programme that extend small loans to very poor people for self employment projects that generate income in allowing them to take care of themselves and their families” (Microcredit Summit, 1997). The World Bank has recognized microfinance programme as an approach to address income inequalities and poverty. The microfinance scheme has been proven to be successful in many countries in addressing the problems of poverty. The World Bank has also declared 2005 as the year of microfinance with the aim to expand their poverty eradication campaign. The main aim of the paper is to assess the potentials of Islamic financing schemes for micro financing purposes. The paper argues that Islamic finance has an important role for furthering socio-economic development of the poor and small (micro) entrepreneurs without charging interest (read: riba’). Furthermore, Islamic financing schemes have moral and ethical attributes that can effectively motivate micro entrepreneurs to thrive. The paper also argues that there is a nexus between Islamic banking and microfinance as many elements of microfinance could be considered consistent with the broader goals of Islamic banking. The paper, first, introduces the concepts of microfinance, and presents a case for Islamic microfinance to become one of the components of Islamic...
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...enterprise. This is true in either circumstance but in most cases today the first and not the latter is the standard to what a business is. Business doesn't just end with a simple definition there are many parameters and difficult work to make a idea a working business. This paper will provide a comprehensive analysis into one of the largest financial institutions in the United States JP Morgan Chase and Company. These topics include the following: 1. The History of the firm. 2. The Environment of the Business. 3. The Business operations tactics of the firm. 4. The Human Capital of the firm. 5. The Marketing and Pricing tactics of the firm. 6. The Distribution and Promotional tactics of the firm. 7. The Investor Relations of the firm. Business History Whether, it’s John D. Rockefeller and The Standard Oil Company, Andrew Carnegie and Pittsburgh steel industry, or the railroad tycoon Cornelius Vanderbilt. Most of us in business are truly fascinated by the accomplishments of individuals and the companies they founded that became such great American institutions of finance and industry. So we as spectators and future entrepreneurs always want to know the four W’s when inquiring about the origins of a great businesses such as the aforementioned. Who, What, When, Why? But we also want the most important HOW? How did they become titans of industry that they are. Provided in this topic will be answers to these...
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...A FRAMEWORK FOR PRUDENTIAL REGULATION AND SUPERVISION OF THE FINANCIAL SECTOR BY DR. OWEN JEFFERSON Recent developments in the financial sector has catapulted the issue of the safety and soundness of the financial system into the forefront of discussions in Jamaica. While not necessarily providing any consolation for us, it is important to note that this issue has also been plaguing many other countries and has become a matter of international concern. The number of countries experiencing significant banking problems has increased substantially in recent years - hitting industrial and developing countries alike - and the high costs and macroeconomic disruptions caused by banking crises have become a matter of increasing concern to the international financial community. Not since the Great Depression of the 1930's have so many banks failed as in the 1980's and the 1990's. A recent survey by the International Monetary Fund reported banking problems in 131 of its 181 member countries over this period, ranging from outright systemic crises to isolated causes of failing banks. We all remember the collapse of the Bank of Credit and Commerce International (BCCI) in 1990. There was the much publicised savings and loan debacle in the United States which cost some $150 billion. In Latin America, banks in four countries - Venezuela, Brazil, Mexico and Argentina - have recently had to struggle with crises of varying degrees of severity....
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...Impact of Microfinance Institution on Nigeria Economy Ghana Christian University College SDM 201222101014 Introduction to Microfinance Mr. Sam Quinn Word Count: 2241 Dec. 2, 2014 Table of Content Pg Introduction 3 Definition of Terms 3 Concept of Microfinance 3 The Goals of Microfinance Institutions 5 Impact of Microfinance on the Economy of Nigeria 6 Negative Impact of MFIs on the country (Nigeria) 10 Conclusion Introduction Since the advent of microfinance institution in Bangladesh in the mid 1970’s, several countries have copied this financing model. The Nigerian governments over the years have had to grapple with poverty and unemployment. The realization that many of these poor and/or unemployed persons are not without skills, ideas and willingness to work, must have propelled the government to make finance accessible to them. The seeming popularity of this model among developing countries is predicated on poverty reduction prospect it offers. The Nigerian government cued into this popular thinking in 2005 when it inaugurated the microfinance institution scheme. This was founded to provide finance to economically active poor excluded from financing by conventional banks, provide employment, engender rural development and reduce poverty. The introduction of microfinance institutions in Nigeria is the inability of Nigerian Deposit Money Banks to provide sufficient financial service to the...
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