Blockchain Papers

Follow blockchain research across journals, conferences, and preprint repositories.

43 papersLast indexed Aug 31, 2026
Search papers

Paper index

43 results · page 2 of 2

Clear filters
Jan 1, 2019·SERVAL (Université de Lausanne)
0 cites
Urban development schemes, municipal finance and staffing in small cities in Gujarat and West Bengal: State and municipality level figures

René Véron, Anna Zimmer, Natasha Cornea, Jérémie Sanchez

This report provides a quantitative data set on decentralization, municipal capacity and autonomy related to environmental governance in small cities in Gujarat and West Bengal. It presents data on centrally-sponsored and state-government development schemes related to the urban environment, transfers of untied funds to urban local bodies (ULBs), revenue and expenditures of municipalities, and local staffing levels.

Open access
Income, Poverty, and Inequality
Urban and Rural Development Challenges
Original source
Jan 1, 2019·Open University of Cape Town (University of Cape Town)
2 cites
Municipal bonds in sub-Saharan Africa: the checkered past of debt instruments in an era of incomplete decentralization

Jeremy Gorelick

Cities across sub-Saharan Africa are faced with challenges in urban planning and service delivery due to insufficient capital for long-term investment projects. Despite the success of municipal bonds as a tool to assist in closing this financing gap in much of the rest of the world, there have been limited examples of success in this region. This study looks at the universal obstacles limiting sub-national governments from using municipal bonds as a financial instrument before examining four case studies - Johannesburg, Douala, Dakar and Kampala - to better understand their approaches to municipal bond issuance. Based on the findings from research, the thesis concludes that the chief obstacle blocking the uptake of municipal bond issuance as a means for raising funds stems from a variety of elements in the constitutional and regulatory systems in each country. This represents a significant departure from the commonly-held understandings that cities in the region are not eligible for long-term debt and are ill-managed, lack capacity, or are not viewed as creditworthy by institutional investors and other purchasers of municipal bonds. The success of municipal bond issuance appears to be contingent on strong interlinkages between central and subnational governments. This dissertation offers a critical review of the explicit and implicit powers granted to local governments under the constitutions of each of the countries, specifically the legislation that enables or prohibits municipalities from issuing bonds. Reform to the existing regulatory and legal environments across the African continent, ones that govern a financially-sustainable level of indebtedness for sub-sovereign governments, is an essential step in ensuring the future growth of Africa’s cities.

Open access
Local Government Finance and Decentralization
Fiscal Policy and Economic Growth
Urban and Rural Development Challenges
Original source
Mar 8, 2018·Environment and Urbanization
61 cites
Land-based financing in sub-Saharan African cities

Stephen Berrisford, Liza Rose Cirolia, Ian Palmer

Decentralization reforms and rapid urbanization place increasing pressure on African urban authorities. In response, land-based finance has been gaining popularity within development discourses as a method of increasing local autonomy and financing local government infrastructure provision. This paper discusses the conceptual basis for land-based finance, the instruments that form part of this approach, and the actual application in several African cities. Drawing on three case studies (Addis Ababa, Harare and Nairobi) and a high-level scan of 29 developments in various African cities, we show how land-based finance is being implemented in practice and discuss the potential for wider uptake. We conclude that African city governments are using land-based financing, albeit in inconsistent ways. We argue that urban authorities should consider the more extensive and progressive use of land-based financing instruments, despite the constraints imposed by both technical and political conditions. A progressive agenda for local government finance in African cities should take land-based finance seriously, as well as the local practices and institutional arrangements through which it operates.

Open access
Urban and Rural Development Challenges
Land Rights and Reforms
Local Economic Development and Planning
Original source
Apr 22, 2014·Jurnal Kawistara
1 cites
PARADOKS DESENTRALISASI PERUMAHAN DI INDONESIA STUDI KASUS KOTA PALEMBANG DAN KOTA PEKALONGAN

Mahditia Paramita

Housing decentralization not only positions housing sector as regional obligatory, but also triggerspublic expectations upon the improvement of housing conditions. Various weaknesses of centralizedsystem that full of generalization in housing policy makes decentralized system is interpreted as aninnovative renewal process. However, the central government still does a lot of intervention towardhousing program. Limitation happens to local government such as limitation in housing finance,weakness in coordination ability, and less established of local bureaucracy makes intervention fromcentral government in housing program financed by APBN always dominates. The least contributionfrom local government on public housing sector in decentralization era creates paradox. It is caused bythe Ministry of Public Housing (Kemenpera) that cannot perform fully as substitutional institution rolein managing housing in local area. Kemenpera position as ministerial cluster 3 makes them does nothave representative office in local area. Thus, there will be potential of a repeat experience in the past, inform of generalization in housing policy, that complicates the housing problems itself.

Open access
Local Government Finance and Decentralization
Urban and Rural Development Challenges
Marriage and Family Dynamics
Original source
Apr 1, 2011·Waterlines
57 cites
Why do some wastewater treatment facilities work when the majority fail? Case study from the sanitation sector in Ghana

Ashley Murray Ashley Murray, Pay Drechsel Pay Drechsel

Failure is the norm for urban sanitation infrastructure in Ghana: of the rather substantial number of wastewater and faecal sludge treatment plants, with about 70 mostly decentralized systems throughout the country, less than 10 are operating effectively. This research presents an overview of the related sanitation situation in Ghana, and compares the few successful facilities with their failed counterparts in order to decipher the factors that enable the former to prevail. The research reveals important differences in the operation and maintenance (O&M) strategies, financing schemes and incentive structures in the successful versus unsuccessful facilities, which are probably not unique to Ghana. Based on the findings, we suggest a set of guiding questions for incorporation into the existing planning, funding or general decision-making framework in order to avoid commonly observed traps, which not only undermine progress in the delivery of sanitation services but also harshly affect environmental and public health.

Open access
Child Nutrition and Water Access
Urban and Rural Development Challenges
Fiscal Policy and Economic Growth
Original source
Jan 1, 2011·SSRN Electronic Journal
3 cites
Argentina's Housing Market in the 2000s

Marcela Cristini, Ramiro Moya, Guillermo BermĂșdez

In the last three decades, the supply of housing in Argentina has not kept pace with demand. This study analyzes the main drivers of Argentina's housing market and relates them to the macroeconomic environment in order to advance a policy agenda for housing policy reform. The demand for housing was calculated and tenure choice was analyzed. Structural characteristics affecting Argentina's housing market include the high concentration of the urban population in a few large metropolitan areas, te association of urban poverty with the housing deficit, and overcrowding. The mortgage market lost its appeal following the 2001-02 crisis due to widespread breaches of contract legitimized through protective legislation (still in place), insufficient long-term financing, and high inflation. The housing deficit could be eliminated in five to eight years if well-coordinated policy initiatives to develop the mortgage market and provide low-income housing were adopted under a decentralized, demand-driven, subsidized program.

Open access
2 source records
Housing Market and Economics
Housing, Finance, and Neoliberalism
Urban and Rural Development Challenges
Original source
Jan 1, 2011·RePEc: Research Papers in Economics
46 cites
Decentralization and rural service delivery in Uganda

Bernard Bashaasha, Margaret Najjingo Mangheni, Ephraim Nkonya

Uganda introduced the decentralization policy in 1997 under the Local Government Act of 1997 that has since undergone four amendments. The policy inherently decentralized service delivery institutions and their governance in order to improve access to services for the rural poor. Based on an analysis of available literature, the paper documents the state of knowledge regarding rural service provision in Uganda under decentralization and identifies knowledge gaps for further investigation. Its focus is on education, health, and agricultural advisory services, as well as the management of natural resources in Uganda. Although enlightening, a review of the broader decentralization literature is beyond the scope of this work. The analysis revealed that results in terms of attaining the objectives of decentralization are mixed. While as anticipated generally decentralization resulted in greater participation and control over service delivery and governance by local communities, local governments are still grappling with a range of challenges, namely, inadequate local financial resources and over-reliance on conditional central government grants; inability to attract and retain sufficient trained and experienced staff; corruption, nepotism, and elite capture. With regard to the specific services, while universal primary education (UPE) policy under the decentralization framework is credited with a dramatic increase in primary school enrollment, public primary education services are still dogged by concerns over financing, equity, quality, and the need for curriculum reform. Some studies show that there has been no improvement in health services with many health status indicators either stagnating or worsening. In general, decentralization of education and health services has not resulted in greater participation of the ordinary people and accountability of service providers to the community. Regarding agricultural extension and advisory services, except for areas serviced by NGOs, the majority of the country does not readily access extension services, because districts have been unable to prioritize the operational expenses. However, there is some evidence that the devolution of responsibility for natural resource management (NRM) has contributed to greater compliance with some NRM requirements in some areas while in other areas forest conditions have declined following decentralization. Generally, evidence on whether decentralization has improved service delivery in Uganda is still inconclusive, and more research is needed.

Open access
Local Government Finance and Decentralization
Legal Issues in South Africa
Urban and Rural Development Challenges
Original source
Jun 25, 2009·Colloquium humanarum
1 cites
BREVE PERCURSO SOBRE A POLÍTICA HABITACIONAL BRASILEIRA

Sibila Corral de ArĂȘa LeĂŁo Honda

The fast process of urbanization in Brazil in recent decades has generated great discussions on urban reform, public policy and urban management. With 1988 Federal Constitution, these topics are in the spotlight, articulated by the city council as an equal federal entity and common jurisdiction in matters of urban policy. In this area, the question of housing policy becomes central and strategic for the city, as one of the main problems is the provision of adequate housing to the majority of the population. The Statute of the Cities (Estatuto das Cidades) in 2001, confirms this view. According to the National Housing Plan (Plano Nacional de Habitao) (Ministrio das Cidades, 2004), with the decentralization process, the management of social programs, among them the housing, either by themselves or by joining a federal program becomes responsibility of the state and city councils. It is in this context that new sources of financing are created sponsored by the federal government through Caixa Econmica Federal, benefiting both the state and local governments and also a share of the private sector. Therefore, this article will outline the path of housing policies in Brazil, through a survey of policies, plans and federal government programs, observing the neglect given to the planning of cities and the problems caused by unplanned urban expansion.

Open access
Urban Development and Societal Issues
Urban and Rural Development Challenges
Original source
Jun 1, 2009·International Journal of Urban and Regional Research
45 cites
Mexican Urban Governance: How Old and New Institutions Coexist and Interact

Valeria Guarneros‐Meza

Abstract The analysis of urban governance in terms of networks, as developed in the UK by scholars including Rhodes and Stoker, can be applied to a context such as Mexico if due weight is given to macro‐level processes. In this article, careful attention is paid to the institutional legacies of Mexico's past authoritarian regime and how they are challenged by a new discourse of neoliberalization, decentralization and democratization. Corporatism, social segmentation and organizational fragmentation in the past have resulted in the continuing importance of hierarchical modes of governance alongside networks. Case studies of the public–private partnerships involved in the regeneration of the historic centres of QuerĂ©taro and San Luis PotosĂ­ show that new forms of governance entail a mix of continuity and change. Regeneration partnerships were initiated and largely funded by the local state, with the state retaining considerable power. Most of the non‐state participants were drawn from the old aristocracy and business and professional organizations, whilst the increasingly autonomous groups of street traders and ‘ordinary’ citizens concerned with the life in the city centre were excluded. Nevertheless, new discourses challenge the institutional legacies of the past, encouraging institutional change. RĂ©sumĂ© L'analyse de la gouvernance urbaine en termes de rĂ©seaux, telle que des chercheurs comme Rhodes et Stoker la prĂ©sentent au Royaume‐Uni, est applicable au contexte mexicain si on pondĂšre correctement les macro‐processus. Une attention particuliĂšre est accordĂ©e ici aux hĂ©ritages institutionnels du rĂ©gime autoritaire qu'a connu le Mexique, et Ă  la façon dont ils sont remis en cause par un discours nouveau de nĂ©olibĂ©ralisation, dĂ©centralisation et dĂ©mocratisation. Dans le passĂ©, corporatisme, segmentation sociale et fragmentation des organisations ont donnĂ© une importance constante aux modes de gouvernance hiĂ©rarchisĂ©s en parallĂšle aux rĂ©seaux. D'aprĂšs des Ă©tudes de cas de partenariats public‐privĂ© portant sur des projets de rĂ©gĂ©nĂ©ration des centres historiques de QuerĂ©taro et de San Luis PotosĂ­, de nouvelles formes de gouvernance gĂ©nĂšrent un mĂ©lange de continuitĂ© et de changement. Les partenariats liĂ©s Ă  la rĂ©gĂ©nĂ©ration de quartiers ont Ă©tĂ© lancĂ©s et en grande partie financĂ©s par l'État local, l'État gardant une emprise considĂ©rable. Hormis l'État, les participants Ă©taient issus, par la plupart, de la vieille aristocratie, ainsi que des milieux commerciaux et professionnels, alors qu'Ă©taient exclus les groupes de plus en plus autonomes des marchands ambulants et des citoyens ‘ordinaires’ concernĂ©s par la vie dans le centre‐ville. NĂ©anmoins les nouveaux discours, qui remettent en question les hĂ©ritages institutionnels du passĂ©, encouragent Ă  une Ă©volution des institutions.

Open access
Urban Planning and Governance
Local Government Finance and Decentralization
Urban and Rural Development Challenges
Original source
May 1, 2009·Local Economy The Journal of the Local Economy Policy Unit
33 cites
Misplaced Expectations? The Experience of Applied Local Economic Development in Post-Apartheid South Africa

Etienne Nel, Tony Binns, David Bek

A hallmark of post-apartheid South Africa has been the introduction of bold and innovative policy in areas ranging from the national Constitution to resource management policy. In line with this approach, there has been a clear commitment to principles of decentralization and participatory development, with Local Economic Development (LED) featuring prominently in national, provincial and local government pronouncements and planning. Despite considerable policy and funding support for LED, results at best can be described as only modest. This paper critically reflects on the importance attached to LED in South Africa, what has been attempted over the last decade, and the various reasons that might explain the limitations experienced with applied LED, including those that are inherent in the nature of LED and those that can be attributed to local factors. The paper draws upon field-based research undertaken over more than a decade and the findings of a major study undertaken by an international development finance organization. The paper raises challenging questions about the nature, focus and potential of LED as an appropriate development intervention.

Open access
Local Economic Development and Planning
Urban and Rural Development Challenges
Legal Issues in South Africa
Original source
Jan 1, 2008·Aisberg (University of Bergamo)
1 cites
Successes in expanding microfinance opportunities in rural Ethiopia: can the entrepreneurship challenge be overcome?

Getaneh Gobezie

Microfinance opportunities have been successfully expanding in Ethiopia during the past fifteen years, including in remote villages, where the majority of people are engaged in smallscale agriculture, which is little supported by modern technology. Some of the key strategies for the success include: innovative adaptation of the group guarantee lending model, successfully customized to local Ethiopian realities; decentralization of operation, including a focus on using indigenous knowledge and resources in client screening and follow-up; appropriate strategies to deal with financing small scale (rain-fed) agriculture, often subject to season changes. However, much remains to be done. The outreach in micro-credit is estimated to have satisfied only a small proportion of the potential demand, while the growth of individual enterprises and the impact on clients' income remain low. It is becoming more and more challenging to further expand the micro-credit outreach, introduce inclusive finance to reach remote villages and very poor people, as well as ensure an impact on the lifestyle of clients. This is due, among other things, to poor infrastructure, particularly the road network and other communication channels, low level business support, as well as the 'entrepreneurship challenge'. This calls for a collaborative effort of all stakeholders in rural development. The present paper examines the opportunities and challenges faced while expanding access to microfinance to poor people in remote areas.

Open access
Microfinance and Financial Inclusion
FinTech, Crowdfunding, Digital Finance
Urban and Rural Development Challenges
Original source
Dec 13, 2006·Universidade Estadual de Campinas
0 cites
A politica habitacional no Brasil pĂłs Plano Real (1995-2002)

Edgar Candido do Carmo

The aim of this work is to evaluate the results of the housing policy that was introduced as from the mid-1990s, during the government of President Fernando Henrique Cardoso.The main directives of this policy were the decentralization of actions, the flexibilization of service relating to demand, the formation of partnerships with civilian society, the creation of new sources of financing and the integration of the housing policy with urban policy.As from 1995 laws were changed and programs and sources of financing were created that were a response to the paralysis in which the Brazilian housing sector had found itself since the disbanding of the National Housing Bank (BNH), in 1986.However, old problems persisted: for example, the setting up of funds for financing housing units for low income classes was never put into practice.The use of non-onerous resources was minimal and as a consequence, the distribution of the constructions, both in terms of where and which income band, did not meet the real needs, a fact that has been clearly pointed out in studies on the Brazilian housing déficit.

Open access
Urban and Rural Development Challenges
Urban Development and Societal Issues
Original source
Nov 1, 2006·RePEc: Research Papers in Economics
1 cites
Mobilizing urban infrastructure finance within a responsible fiscal framework: South African case

Philip van Ryneveld

Since South Africa held its first democratic elections in 1994, it has given significant attention to building an effective system of decentralization including provincial and local government. While provincial governments are responsible mainly for the implementation of social services such as health and education, the provision of much of the urban infrastructure is the responsibility of local government. Although many challenges remain, the country has made significant progress over the past decade in addressing urban service backlogs in poor areas. At the same time, it has greatly improved macroeconomic fundamentals. The system of financing local government seeks to place accountability firmly at the local level, with most revenues in the larger urban centers raised locally through a combination of local taxes and fees for services, while poorer regions are predominantly grant funded. The objective has been to encourage the financing of capital infrastructure through local borrowing based on sustainable, transparent local finances rather than national repayment guarantees, which are outlawed. There is some indirect subsidization of loans through the state-owned Development Bank of Southern Africa. But the emphasis is on achieving redistribution through transparent, formula-based grants paid directly from national to local governments. While further bedding down of the system is needed, the approach is proving largely successful. The paper concludes by recommending that the existing division between provinces as providers of social services and local governments as the key locus of responsibility for services related to the built environment should be strengthened, particularly through the devolution of more urban transport related functions. A number of key risks are also highlighted, including issues related to the reform of local business taxes.

Open access
Public-Private Partnership Projects
Fiscal Policy and Economic Growth
Urban and Rural Development Challenges
Original source
Jan 1, 2006·BIBSYS Brage (BIBSYS (Norway))
16 cites
Local Revenue Mobilization in Urban Settings in Africa

Odd‐Helge Fjeldstad

The growth of Africa’s towns and cities has outpaced local authority capacity in terms of management, infrastructure, and financing. Many African towns and cities are now facing a governance crisis. Accordingly, the capability and capacity of urban local government to provide basic services to a growing population have entered the core of the development debate. In particular, fiscal decentralization – the devolution of revenue mobilization and spending powers to lower levels of government – has become a main theme of urban governance in recent years.\nThis paper explores the opportunities and constraints facing local revenue mobilization in urban settings in Africa. The study examines various revenue instruments available, including property taxes, business licences, and user fees, and their effect on economic efficiency and income distribution. Moreover, political and administrative constraints facing various revenue instruments and factors impacting on citizens’ compliance behaviour are discussed. The analysis is exemplified by cases from across Africa and other regions. Local governments need to be given access to adequate resources to do the job with which they are entrusted. However, a general conclusion emerging from this study is that local revenues mobilized in most urban authorities in Africa are necessary but not sufficient to develop and supply adequate services for the fast-growing urban population.

Open access
Local Government Finance and Decentralization
Urban and Rural Development Challenges
Taxation and Compliance Studies
Original source
Apr 22, 2005·D-Scholarship@Pitt (University of Pittsburgh)
0 cites
Decenntralization and Democratic Local Governance in Ghana: Assessing the Performance of District Assemblies and Exploring the Scope of Partnerships

Matthias Zana Naab

Matthias Zana Naab, PhDUniversity of Pittsburgh, 2005This study examines decentralization and democratic local governance in Ghana by assessing the effectiveness of the performance of District Assemblies (DAs) in order to better understand how DAs plan, implement, and manage development activities in close partnership with communities. It applied the proposition that decentralization and democratic local governance are expected to result in more efficient, effective, sustainable, and equitable outcomes through the hypotheses that decentralization results in more effective local government; more responsive local government; local government that is democratic, more accountable, and more participatory; local people having more positive perceptions of government; and local governments providing high quality services that respond to local demands.Engaging in both exploratory and explanatory research, this study identifies important variables and relationships as well as plausible causal networks that shaped local government and governance in Ghana. Using an inductive and theory-building design, it explains a model of decentralized governance and highlights potential partnership arrangements for the effective engagement of Community-Based Organizations (CBOs) in complementing the efforts of local governments.The results of decentralization, interpreted through questionnaires as well as stories and conversations with local people in two Ghanaian District Assemblies, was a combination of success and failure. In the two case study districts, the assemblies have resulted in a slight increase in development projects and services. However, the poor level of local revenue mobilization has limited the ability of the assemblies to finance significant development projects in their districts. Consequently, this has forced the assemblies to depend on the District Assemblies' Common Fund as well as on external donor funded projects and programs and on local people in self-help projects. The analysis of revenue and expenditure patterns in the two districts showed that per capita development spending was low, while recurrent expenditure and spending on local government infrastructure was high. District assemblies and CBOs often remain unwilling partners, and both are faced with serious capacity constraints which militate against structuring effective partnerships for service delivery. The successful implementation of decentralization depends on the degree to which national political leaders are committed to decentralization, and the ability and willingness of the national bureaucracy to facilitate and support decentralized development. Therefore, the ongoing process of decentralization in Ghana must be seen in the broader context of a deliberate redirection and change in the internal regulatory framework of the state.

Open access
Local Government Finance and Decentralization
Microfinance and Financial Inclusion
Urban and Rural Development Challenges
Original source
Jan 1, 2003·ScholarWorks - WMU (Western Michigan University)
0 cites
The Role of ESRDF in Empowering Communities: The Case of Addis Ababa Regional Office

Alemayehu Semunigus

The ESRDF, one of the biggest projects funded by the World Bank in Ethiopia, was established on 13 February 1996. It was designed to provide financial and technical support to poor, mainly rural and women communities and community groups, to construct or rehabilitate and maintain basic economic and social infrastructure and services, as well as environmental conservation actions that they prioritized and in which they are willing to invest. In its technical support ESRDF was envisaged to give greater emphasis on strengthening community capacity in project identification, implementation and maintenance. ESRDF is a semi autonomous office and was organized on a decentralized basis. It has a central office and eleven regional offices, including Addis Ababa. The organizational structure employed at all levels is very slim and the staffing consists of a few qualified technical specialists. ESRDF has been operational for the last six years (1996-2002), and the theme of this paper is to go over its success towards achieving one of its top objectives, i.e. community empowerment, by taking ESRDF-Addis Ababa Regional Office as a case study. The ESRDF – Addis Ababa RO has assisted a total of 191 community-initiated projects technically and financially. They have focused on primary education, primary health care, environmental sanitation and development, capacity building and training and income generation. The paper is thus primarily focusing on the extent to which the office’s intervention brings about the enabling environment for communities to decide what their priorities are, to enable them to form their internal committees and elect representatives accountable to them, to participate actively in planning, implementation, management and maintenance of their projects, and to have considerable women’s participation in the decision-making process of communities’ actions in general and activities directly affecting their lives in particular. In order to give life to the discussion in the paper, facts about sub-projects that are relevant to the discussed topics will be demonstrated and presented. At the end of the paper, concluding remarks and recommendations concerning policy implications of community empowerment to the realization of poverty reduction strategy programs in Addis Ababa will be drawn.

Open access
Urban and Rural Development Challenges
Original source
Oct 1, 2001·RePEc: Research Papers in Economics
17 cites
Development Finance Institutions: Measuring Their Subsidy

Mark Schreiner, Jacob Yaron

The term "development finance
\n institutions" (DFI) encompasses no only government
\n development banks, but also nongovernmental micro-finance
\n organizations, that match grants to attempt to promote
\n community development, decentralization of power, and local
\n empowerment. Measures of the social cost of DFIs that
\n receive public funds, help to check whether DFIs are good
\n uses of public funds, i.e., if the social benefit of a DFI
\n exceeds the social cost, then public funds are indeed
\n well-spent, further improving social welfare. This report
\n describes the measurement of costs but not of benefits; but
\n even without knowledge of benefits, knowledge of costs can
\n help to adequately spend funds. Two measures of social cost
\n are presented: first, the Subsidy Dependence Index (SDI) -
\n the ratio of subsidy received to revenue from loans; and,
\n subsidy is the social cost of the public funds used to run a
\n DFI - which does not discount flows, rather it works in
\n short time frames, or when the rate of time preference is
\n low; second, the Net Present Cost to Society (NPCs) - like
\n standard present-value measures, it discounts cash flows,
\n and works in any time frame. Both SDI and NPCs are tools, to
\n help establish benchmarks, chart trends, and compare a DFI
\n with identical clients, and services. It is stipulated that
\n measurement of the social cost of public DFIs matters
\n because funds earmarked for development are scarce, while
\n subsidies for DFIs could be adequate, provided social
\n welfare improves in a broader scale.

Open access
Microfinance and Financial Inclusion
Poverty, Education, and Child Welfare
Urban and Rural Development Challenges
Original source