Financial Inclusion Profile: Socio-economic Determinants, Barriers, and the Reasons For Saving and Borrowing in Pakistan Saqib Bashir, Aamir Nawaz and Sana Nigar AyeshaAbstract
Pakistan is one of the least financially inclusive countries in Asia. To understand the reasons, this paper examines the Socio-economic determinants, the barriers to financial inclusion, and the reasons for individuals saving and borrowing. We used GFI 2017 data, and the Probit technique to estimate the coefficients. The results show that female and age group reduce the likelihood of being financially included while education level and high income increase their likelihood. Furthermore, voluntary exclusion such as religious beliefs, and involuntary exclusion such as lack of documents, trust deficits, and someone else having an account are found significant for different demographic groups. Significant coefficients are found for saving for old age and borrowing for medical and business. The findings of this study are valuable for policymakers in Pakistan to initiate innovative approaches to enhance the excluded groups and focus on the removal of reasons for financial exclusion in Pakistan.Microfinance in the Philippines: A Tool for Economic Development, or Perpetual Debt? Evidence of its Success and Challenges in the Province Bryan W. Rich, Research Fellow, Palawan State University, PhilippinesAbstract
This paper examines the socioeconomic impact of the largest microfinance institution, from the perspective of the borrower, in a rural community in Puerto Princesa City, Palawan, Philippines. Thirty members from the Center for Agriculture and Rural Development were interviewed to better understand the spending and savings habits after receiving micro-credit loans. This paper discusses the issues most important to the participant: life insurance; a savings account; education; and, financial debt. It also examines the most successful borrowers, the more common types of businesses members engage in, and why some women borrow money for their husbands. Although a few members have achieved financial success through micro-credit loans to grow their business, most members interpret these loans as another opportunity to borrow to makes ends meet and for consumption smoothing. They have not created opportunities for economic development but have placed women in a perpetual cycle of debt.
Structure, Hierarchy and Kin. An Ethnography of the Old Market in Puerto Princesa, Palawan, Philippines Bryan W. Rich, Research Fellow, Palawan State University, PhilippinesAbstract
This paper explores the kinship ties and social stratification between vendors, customers and employees at the Old Market in Puerto Princesa. Kinship ties create structural and functional boundaries for familial and social interaction. Stratification typically found in Philippine society is also displayed among my informants. My findings show that the regular customer, gendered roles and sexuality, and age and economic stratification have social and economic consequences.
The Effects Remittances Have on Kinship Ties in Urban Philippines Bryan W. Rich, Research Fellow, Palawan State University, PhilippinesAbstract
In 2015, Overseas Filipino Workers (OFW) remitted more than USD 28 billion (PSA 2016), impacting millions of families. Extensive economic research has shown what determines and influences OFWs to remit money to family members and its economic effects. However, much less is known about how this money affects the kinship ties of those left behind. This article attempts to shed light on how remittances affect kinship ties in urban Philippine communities.