The financial systems approach to development finance: Origin, evolution and prospects

References

• Allahar , H and Brown , DR . 1995 . Trinidad and Tobago's credit guarantee programme ‐ lessons from five years’ experience . Small Enterprise Development , 6 (3) : 45 – 53 .
   Google Scholar
• Altvater , A . 1994 . Credit guarantee schemes ‐ a response from the National Guarantee System of Ecuador . Small Enterprise Development , 5 (1) : 40 – 6 .
   Google Scholar
• Besley , T . 1992 . How do market failures justify interventions in rural credit markets? , Discussion Paper No 162, Research Programme in Development Studies, Woodrow Wilson School of Public and International Affairs Princeton : Princeton University .
   Google Scholar
• Besley , T , Coate , S and Loury , G . 1993 . The economics of rotating savings and credit associations . American Economic Review , 83 (4) : 792 – 810 .
   Web of Science ®Google Scholar
• Bhatt , VV . 1988 . On financial innovations and credit market evolution . World Development , 16 (2) : 281 – 92 .
   Web of Science ®Google Scholar
• Boocock , G and Shariff , MNM . 1996 . Loan guarantee schemes for SMEs ‐the experience in Malaysia . Small Enterprise Development , 7 (2) : 25 – 36 .
   Google Scholar
• Bouman , FJA . 1978 . Indigenous savings and credit societies in the Third World: a message . Savings and Development , 4 (1) : 181 – 219 .
   Google Scholar
• Chick , V . 1995 . Finance and investment in the context of development: a Post‐Keynesian perspective , Discussion paper No 95‐13 London : University College .
   Google Scholar
• Chu , M , Castello , C , Churchill , C and Nourse , T . 1996 . Corposol/Finansol: a preliminary analysis of an institutional crisis in microfinance , ACCION International . Mimeo
   Google Scholar
• 1995 . Micro credit lending experiences . Craft News , 6 (24)
   Google Scholar
• Davidson , P . 1978 . Money and the real world, , 2nd ed. , London : MacMillan .
   Google Scholar
• Dichter , TW . 1996 . Questioning the future of NGOs in microfinance . Journal of International Development , 8 (2) : 259 – 69 .
   Google Scholar
• Goetz , AM and Gupta , RS . 1994 . Who takes the credit? Gender, power and control over loan use in rural credit programmes in Bangladesh , IDS Working Paper No 8 Brighton : University of Sussex .
   Google Scholar
• Gonzalez‐Vega , C . 1994 . From policies to technologies to organizations: the vision of rural financial markets of Ohio State University , Economies and Sociology Occasional Paper No 2062 Columbus : Ohio State University .
   Google Scholar
• Hoff , K and Stiglitz , JE . 1990 . Imperfect information and rural credit markets ‐ puzzles and policy perspectives . World Bank Economic Review , 4 (3) : 235 – 50 .
   Web of Science ®Google Scholar
• Holt , SL . 1994 . “ The village bank methodology: performance and prospects ” . In The new world of microenterprise finance: building healthy financial institutions for the poor , Edited by: Otero , M and Rhyne , E . London : IT Publications .
   Google Scholar
• Hulme , D and Mosley , P . 1996a . Finance against poverty , vol 1 , London : Routledge .
   Google Scholar
• Hulme , D and Mosley , P . 1996b . Finance against poverty , vol 2 , London : Routledge .
   Google Scholar
• Johnson , S and Rogaly , B . 1997 . Microfinance and poverty reduction , Oxford : Oxfam .
   Google Scholar
• Krahnen , JP and Schmidt , RH . 1994 . Development finance as institution building: a new approach to poverty‐oriented banking , Boulder : Westview .
   Google Scholar
• Kropp , E and Clar De Jesus , RB , eds. 1996 . Linkage banking in Asia , Bangkok : Asia Pacific Rural and Agricultural Credit Association (APRACA) .
   Google Scholar
• Levitsky , J . 1993 . Credit guarantee funds and mutual guarantee schemes . Small Enterprise Development , 4 (2) : 4 – 15 .
   Google Scholar
• Levitsky , J and Prasad , RN . 1987 . Credit guarantee schemes for small and medium enterprises , World Bank Technical Paper No 58 Washington, DC : World Bank .
   Google Scholar
• Litherland , S . 1997 . Finance‐women: microcredit not the only answer . World News , 3 February
   Google Scholar
• McKinnon , RI . 1973 . Money and capital in economic development , Washington, DC : Brookings Institution .
   Google Scholar
• Microcredit Summit . 2‐4 February 1997a . Declaration. Results International 2‐4 February , Washington, DC
   Google Scholar
• Microcredit Summit . 2‐4 February 1997b . Plan of action. Results International 2‐4 February , Washington, DC
   Google Scholar
• Moore , BJ . 1986 . Horizontalists and verticalists: the macroeconomics of credit money , Cambridge : Cambridge University Press .
   Google Scholar
• Nanda , YC . 1996 . Significance of establishing linkages with self‐help groups and banks , National Bank for Agriculture and Rural Development . Mimeo.
   Google Scholar
• Oehring , E . 1990 . Fundes ‐ an attempt to establish guarantee schemes through private foundations in Latin America . Small Enterprise Development , 1 (2) : 27 – 33 .
   Google Scholar
• Otero , M . 1994 . “ The evolution of non‐governmental organizations toward financial intermediation ” . In The new world of microenterprise finance: building healthy financial institutions for the poor , Edited by: Otero , M and Rhyne , E . London : IT Publications .
   Google Scholar
• Oxford Committee for Famine Relief (OXFAM),. 1997 . Microfinance policy and the Microcredit Summit Oxfam Mimeo.
   Google Scholar
• Patten , D . The Unit Desa programme and microfinance development in Indonesia . Address delivered at the sixth meeting of the CSFI/ODA/PWBLF Microfinance Working Group . May 16 , London.
   Google Scholar
• Rhyne , E . 1994 . “ A new view of finance programme evaluation ” . In The new world of microenterprise finance: building healthy financial institutions for the poor , Edited by: Otero , M and Rhyne , E . London : IT Publications .
   Google Scholar
• Rhyne , E and Otero , M . 1994 . “ Financial services for microenterprises: principles and institutions ” . In The new world of microenterprise finance: building healthy financial institutions for the poor , Edited by: Otero , M and Rhyne , E . London : IT Publications .
   Google Scholar
• Riley , TA . 1993 . Characteristics of and constraints facing black businesses in South Africa: survey results , Informal discussion papers on aspects of the economy of South Africa Washington, DC : World Bank .
   Google Scholar
• Rock , R , Otero , M and Rosenberg , R . 1996 . “ Regulation and supervision of microfinance institutions ” . In CGAP Focus , Note 4
   Google Scholar
• Rogaly , B . 1996 . Microfinance evangelism, ‘destitute women’, and the hard selling of a new anti‐poverty formula . Oxfam: Development in Practice , 6 (2) : 100 – 12 .
   Google Scholar
• Schmidt , RH and Zeitinger , C . 1994 . Critical issues in small and micro‐business finance , Frankfurt : Internationale Projekt Consult GmbH (IPC) .
   Google Scholar
• Schmidt , RH and Zeitinger , C . 1996 . Prospects, problems and potential of credit‐granting NGOs . Journal of International Development , 8 (2) : 241 – 58 .
   Google Scholar
• Seibel , HD , ed. 1993 . Banking with the poor: self‐help groups, NGOs and banks as financial intermediaries , Saarbrücken : Breitenbach .
   Google Scholar
• Seibel , HD . 1996 . Financial systems development and microfinance: viable institutions, appropriate strategies and sustainable financial services for the microeconomy , Eschborn : Rossdorf/Deutsche Gesellschaft für Technische Zu‐sammenarbeit (GTZ) .
   Google Scholar
• Shaw , ES . 1973 . Financial deepening in economic development , New York : Oxford University Press .
   Google Scholar
• Smithin , J . 1994 . Controversies in monetary economics: ideas, issues and policy , Aldershot : Edward Elgar .
   Google Scholar
• Stiglitz , JE . The role of the state in financial markets . Proceedings of the World Bank annual conference on development economics . 1993 . pp. 19 – 52 . (Supplement to World Bank Economic Review and World Bank Research Observer.)
   Google Scholar
• Stiglitz , J and Weiss , A . 1981 . Credit rationing in markets with imperfect information . American Economic Review , 71 (3) : 393 – 410 .
   Web of Science ®Google Scholar
• Studart , R . 1993 . Financial repression and economic development: towards a Post‐Keynesian alternative . Review of Political Economy , 5 (3) : 277 – 98 .
   Google Scholar
• Studart , R . 1995 . Investment finance in economic development , London : Routledge .
   Google Scholar
• Studart , R . 1995‐6 . The efficiency of financial systems, liberalization, and economic development . Journal of Post‐Keynesian Economics , 18 (2) : 269 – 92 .
   Google Scholar
• World Bank . 1975 . Agricultural credit: sector policy paper , Agricultural Policies Division Washington, DC : World Bank .
   Google Scholar
• World Bank . 1995 . “ Small and microenterprise finance: guiding principles for selecting and supporting intermediaries ” . In Donors’ Working Group on Financial Sector Development and the Committee of Donor Agencies for Small Enterprise Development, Private Sector Development Department , Washington, DC : World Bank .
   Google Scholar
• Wray , LR . 1990 . Money and credit in capitalist economies , Aldershot : Edward Elgar .
   Google Scholar
• Zysman , J . 1983 . Governments, markets, and growth: financial systems and the politics of industrial growth , Oxford : Martin Robertson .
   Google Scholar
• Professor, Department of Economics, University of Stellenbosch.
   Google Scholar