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POL300H1 (31)

May 18th

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Political Science
Waheed Hussain

POL300H Wednesday May 18 th - Grameen Bank revolutionized microfinance but did not invent it. - Banking in developing countries during colonialism was really only available to the elite, which was the minority. - John Murdock the economics of microfinance states are really bad at doing microfinance: corrupt, patronage, unprofessional highly subsidized, inefficient - Replacement of collateral with social collateralnetworks - Reliance on peer dynamics. People would come together to get a loan as a group using their social cohesioncapital to make up for the lack of assets. - Supported by both sides of the political spectrum for different reasons. - IFIs came into these different countries and prescribed SAPs -1990s, donors started pressuring for Neoliberal policies in Microfinance: recover costs, make it sustainable, make it profitable. Commercialization. - Started off with low interest rates to help the poor, but became tasked with becoming sustainable and profitable. Best Practice: recover costs and pay for your services in time. - Evolution of Microcredit and the dovetailing with the politics of the time. Micro-credit Microfinance Shift in the industry to expand microcredit to microfinance. Micro is where you make money because you can charge and interest rate. In some countries taking deposits is illegal if youre not a registered bank. Microfinance: is the provision of financial services (such as credit, insurance, savings and remittances at the micro level to the poor. Remittances: When migrant workers send their money back home. 1 Requirements Written Assignments: 2-3 Pages double spaced, post on blackboard before 9pm day before it is due 6 Citations used suggested readings (Bateman book counts) Paper Outline: 10% Proposal for your major paper, will be marked hard. Analysis Report: 25% 5-7pgs. Find an institution that does MF and evaluate it.
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