Research Question & Top Ten List
Carrie Bancroft
Wayne Maceyka
Due Date: Sunday, Oct 26; midnight
Description
Effective learning as a leader or manager depends, in part, on your ability to find and make
sense of the important issues that impact your organization and industry. And doing that
effectively starts with being able to ask the right questions and develop a sight line to the
resources that will help to answer those questions best.
In this assignment, the starting point for your research project, you will draw on our discussion
of research questions to frame an initial question about your chosen industry and identify a set
of ten sources of information that your group concludes are the most likely to yield valid,
reliable data related to that question.
Purpose:
- To advance your ability to identify appropriate sources of secondary data for answering
identified questions about a specified industry.
- To advance your ability to assess the viability of identified research questions.
Preparation:
Before beginning this assignment, your group should have determined a preliminary question
that will drive your identification of sources.
Product:
This assignment should produce a list of ten sources of secondary data which your group
determines are the most salient for addressing the question you have about your industry.
Additionally, this assignment should provide a short narrative (one to two pages) which
identifies your group’s question and the criteria used in narrowing the possible sources to your
top ten.
Learning Objectives
 To perform secondary research at the graduate level
 To develop research capabilities beyond "Googling" -- specifically the ability to use the
proprietary databases available to BGI students through the library
 To use non-conventional internet search strategies to develop business ideas
Grading Weight: 15%
EBSCO search 10/7/08
Record: 1
TI- An Analysis of Russia's 1998 Meltdown: Fundamentals and Market Signals.
AU- Kharas, Homi
AU- Pinto, Brian
AU- Ulatov, Sergei
JN- Brookings Papers on Economic Activity
PD- 2001 Issue 1, p1-50
PG- 50p
IL- 10 charts, 4 graphs
DT- 20010101
PT- Article
AB- This article examines the cause of the Russian financial crises in 1998 and evaluates the emergency
international effort that was undertaken to avert it. On August 17, 1998, a little more than a month after
an international package of emergency financing and economic reforms was announced, Russia was
forced lo devalue the ruble. Russia also declared its intention to restructure all official domestic currency
debt obligations falling due to the end of 1999 and imposed a ninety-day moratorium on the repayment
of private external debt, to aid its commercial banks. The free fall of the ruble and the disruption in the
government's access to market borrowing were costly, with an output decline, bank failures, and a spike
in inflation. Russia ended 1998 with an output contraction of 4.9 percent for the year, compared with
initial expectations of slight growth. Two factors apparently underlay the decision not to abandon the
exchange rate band. First, for the Russians, the attainment of single-digit inflation in early 1998
represented a major policy achievement. Second, the recent East Asian experience with devaluation had
been bad, especially in Indonesia. However, despite widespread expectations that the recession and
crisis would deepen, the macroeconomic situation reversed in 1999. Aided by the devaluation, domestic
industry rebounded strongly, output actually increased by 3.4 percent in 1999 and inflation was brought
back below 40 percent and remained on a downward trend.
DE- FINANCIAL crises
DE- ECONOMIC history
DE- BUSINESS cycles
DE- INTERNATIONAL finance
DE- ECONOMIC recovery
DE- RUBLE, Russian
GE- RUSSIA (Federation)
IS- 0007-2303
AN- 5327520
UR- http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=5327520&site=bsi-live
Record: 2
TI- Assessing the Recent Asian Economic Crises: The Role of Virtuous and Vicious Cycles.
AU- Aggarwal, Raj 1
JN- Journal of World Business
PD- Winter99, Vol. 34 Issue 4, p392-408
PG- 17p
DT- 19991201
PT- Article
AB- This is an analysis of the causes of the late 1997 economic crises in the (until then) strong Asian
economies. This paper shows that, although the two proximate causes of this crises seem to be stronger
international competition and poorly developed domestic financial systems in Asia, the underlying
causes were related more to the virtuous economic and financial cycles in Asia that turned into vicious
cycles in 1997. The key determinant of Asian recovery is the reduction in the importance of these
positive feedback cycles by reforming Asian domestic financial systems so they are no longer
characterized by low disclosure levels, high debt ratios, and high political influence in credit decisions.
[ABSTRACT FROM AUTHOR]
AB- Copyright of Journal of World Business is the property of Elsevier Science Publishing Company, Inc.
and its content may not be copied or emailed to multiple sites or posted to a listserv without the
copyright holder's express written permission. However, users may print, download, or email articles for
individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy.
Users should refer to the original published version of the material for the full abstract. (Copyright
applies to all Abstracts)
DE- FINANCIAL crises
DE- ECONOMIC history
DE- ECONOMIC recovery
SU- ASIA -- Economic conditions -- 1945GE- ASIA
AD- 1 Firestone Chair in Finance, Graduate School of Management, Kent State University, Kent, OH
44242
FT- 7420
IS- 1090-9516
AN- 2665985
UR- http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=2665985&site=bsi-live
Record: 3
TI- Capital Structure and Financial Risk: Evidence from Foreign Debt Use in East Asia.
AU- ALLAYANNIS, GEORGE 1
AU- BROWN, GREGORY W. 2
AU- KLAPPER, LEORA F. 3
JN- Journal of Finance
PD- Dec2003, Vol. 58 Issue 6, p2667-2710
PG- 44p
IL- 8 charts, 1 graph
DT- 20031201
PT- Article
AB- Using a data set of East Asian nonfinancial companies, we examine a firm's choice between local,
foreign, and synthetic local currency (hedged foreign currency) debt. We find evidence of unique as well
as common factors that determine each debt type's use, indicating the importance of examining debt at
a disaggregated level. We exploit the Asian financial crisis as a natural experiment to investigate the role
of debt type in firm performance. Surprisingly, we find that the use of synthetic local currency debt is
associated with the biggest drop in market value, possibly due to currency derivative market illiquidity
during the crisis. [ABSTRACT FROM AUTHOR]
AB- Copyright of Journal of Finance is the property of Blackwell Publishing Limited and its content may
not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express
written permission. However, users may print, download, or email articles for individual use. This
abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the
original published version of the material for the full abstract. (Copyright applies to all Abstracts)
DE- CAPITAL structure
DE- CORPORATIONS -- Finance
DE- DEBTS, External
DE- MARKET value
DE- DECISION making
DE- LIQUIDITY (Economics)
DE- FINANCIAL crises
DE- CAPITAL market
DE- INTERNATIONAL finance
DE- GLOBALIZATION
DE- DEPRECIATION
SU- ECONOMIC aspects
GE- EAST Asia
IC- 522291 Consumer Lending
AD- 1 University of Virginia
AD- 2 University of North Carolina at Chapel Hill
AD- 3 The World Bank
IS- 0022-1082
DI- 10.1046/j.1540-6261.2003.00619.x
AN- 11302395
UR- http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=11302395&site=bsi-live
Record: 4
TI- Latin America After the Argentine Crisis: Diminishing Financial Market Integration.
AU- Alvarez-Plata, Patricia
AU- Schrooten, Mechthild
JN- Economic Bulletin
PD- Dec2003, Vol. 40 Issue 12, p431-436
PG- 6p
DT- 20031201
PT- Article
AB- The article discusses economic conditions in Latin America after the Argentine financial crisis.
Immediately after abandoning its currency board in January 2002, Argentina suffered a severe currency
crisis. Financial crises of this kind always generate profound uncertainty for international investors and
therefore result in the withdrawal of international capital. This was particularly evident in the period
following the Asian crisis of 1997-1998, which led to a withdrawal of capital in almost all emerging
economies. After the Argentine crisis, both international bank loans and capital inflows in Latin America
declined. International financial flows to Latin America have declined substantially since the crisis in
Argentina, and the currencies of many countries have come under downward pressure. These are
phenomena that concern almost all the Latin American economies, but by no means all emerging
economies. In actual fact, the level of foreign debt is extremely high in all the large Latin American
economies. Measured as a share of exports in 2002, it amounted to over 400% in Argentina, to around
280% in Brazil and to 170% in Chile. In Mexico, too, the country with the lowest level of foreign
indebtedness as a share of exports, this value amounted to over 90%.
DE- FINANCIAL crises
DE- FOREIGN exchange
SU- LATIN America -- Economic conditions
SU- ARGENTINA -- Economic conditions
GE- LATIN America
IC- 522293 International Trade Financing
IS- 0343-754X
AN- 11744565
UR- http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=11744565&site=bsi-live
Record: 5
TI- Private benefits of control and firm leverage: An analysis of Korean firms.
AU- Jangkoo Kang 1 [email protected]
AU- Joon-Seok Kim 1 [email protected]
JN- Review of Quantitative Finance & Accounting
PD- Dec2006, Vol. 27 Issue 4, p439-463
PG- 25p
IL- 6 charts, 4 graphs
DT- 20061201
PT- Article
AB- This paper investigates the leverage choices of an entrenched controlling party. If debt effectively
curbs the private benefits of control, the controlling shareholder is given incentives to avoid debt. Using
estimates of the private benefits of control and financial statement data from selected Korean firms, we
find that a controlling party with large private benefits tends to lower debt. This relationship was
concentrated after the Asian financial crisis. However, before the crisis, firms that affiliated with Korean
conglomerates, chaebols, used more debt as private benefits increased. A financial reform program
triggered by the crisis seems to have actuated the disciplining role of debt. [ABSTRACT FROM AUTHOR]
AB- Copyright of Review of Quantitative Finance & Accounting is the property of Springer Science &
Business Media B.V. and its content may not be copied or emailed to multiple sites or posted to a
listserv without the copyright holder's express written permission. However, users may print, download,
or email articles for individual use. This abstract may be abridged. No warranty is given about the
accuracy of the copy. Users should refer to the original published version of the material for the full
abstract. (Copyright applies to all Abstracts)
DE- FINANCIAL leverage
DE- CORPORATIONS -- Finance
DE- DEBT financing (Corporations)
DE- BUSINESS enterprises
DE- OPERATING leverage
DE- BUSINESS cycles
GE- KOREA
KW- Chaebols
KW- Financial crisis
KW- Private benefits of control
IC- 522291 Consumer Lending
AD- 1 Graduate School of Management, Korea Advanced Institute of Science and Technology, 207-43
Cheongryangri-dong, Dongdaemoon-gu Seoul 130-722 Republic of Korea
IS- 0924-865X
DI- 10.1007/s11156-006-0046-z
AN- 22615794
UR- http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=22615794&site=bsi-live
Record: 6
TI- The Asia Crisis – Five Years On: Foreign Capital Less Important.
AU- Schrooten, Mechthild
JN- Economic Bulletin
PD- 2002, Vol. 39 Issue 11, p399
PG- 8p
IL- 2 charts, 9 graphs
DT- 20021101
PT- Article
AB- Five years after the Asia crisis Indonesia, South Korea and Thailand are again reporting high
economic growth rates in macroeconomic output. They have reoriented their monetary policies and are
pushing forward the reform of their banking sectors, albeit to different degrees. Unrealistic monetary
policy, a high level of foreign debt and domestic lending not based on criteria of risk and efficiency led to
the damaging financial crisis in Asia in 1997, which soon affected the world economy. Although their
economies as a whole suffered a drastic downslide as a result of the financial crisis, South Korea and
Thailand rapidly regained powerful growth rates in their gross domestic product. The development in
South Korea was even more dynamic, with economic growth reaching a year-on-year rate of 6.3% in the
second quarter of 2002. In all these countries this development has recently been borne mainly by a
recovery in exports, particularly exports of IT products. The Asian financial crisis caused the
opportunities and risks of fixed exchange rate systems for the emerging economies to be reassessed. It
became increasingly clear that successful integration in the international financial market also requires
the observance of international standards in the commercial banking sector.
DE- FINANCIAL crises
DE- ECONOMIC development
DE- RECESSIONS
DE- MONETARY policy
DE- BANKS & banking
SU- ASIA -- Economic conditions
GE- ASIA
GE- THAILAND
GE- INDONESIA
IC- 522110 Commercial Banking
IS- 0343-754X
AN- 8526518
UR- http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=8526518&site=bsi-live
Record: 7
TI- The Asian crisis and flow-of-funds analysis.
AU- Dawson, John C. 1 [email protected]
JN- Review of Income & Wealth
PD- Jun2004, Vol. 50 Issue 2, p243-260
PG- 18p
IL- 8 charts
DT- 20040601
PT- Article
AB- This paper is an application of Flow-of-Funds analysis to the case of Thailand during the 1996–97
Asian crisis. It begins with a background historical sketch of the financial crisis in East Asia, emphasizing
the central role of weak financial systems and foreign debt. The paper then presents a method of
estimating quarterly Flow-of-Funds accounts using Thailand as an example. This simple method is
available from data published by the I.M.F. for most of the countries of the world. The Thai data are
then used in a Flow-of-Funds analysis of the crisis in Thailand. This analysis contrasts with the opening
historical sketch in quantitatively tracing the significant financial flows and, particularly, the finances of
the private sector. The paper closes by emphasizing the need for current reporting of data to facilitate
such analyses. [ABSTRACT FROM AUTHOR]
AB- Copyright of Review of Income & Wealth is the property of Blackwell Publishing Limited and its
content may not be copied or emailed to multiple sites or posted to a listserv without the copyright
holder's express written permission. However, users may print, download, or email articles for individual
use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should
refer to the original published version of the material for the full abstract. (Copyright applies to all
Abstracts)
DE- FLOW of funds
DE- FINANCIAL crises
DE- DEBTS, External
DE- NATIONAL income -- Accounting
GE- THAILAND
GE- EAST Asia
AD- 1 Grinnell College, Iowa
IS- 0034-6586
DI- 10.1111/j.0034-6586.2004.00124.x
AN- 13072357
UR- http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=13072357&site=bsi-live
Record: 8
TI- The Routes to Crisis Contagion.
AU- Dunn Jr., Robert 1
JN- Challenge (05775132)
PD- Nov/Dec2001, Vol. 44 Issue 6, p45-58
PG- 14p
DT- 20011101
PT- Article
AB- The article discusses financial crises and ways to tackle the problem. As a result of the 1997-1998
Asian balance-of-payments and debt crisis, and because a similar situation may now be brewing in Latin
America, economists have become very interested in the process of contagion, that is, how a balanceof-payments collapse that begins in one country can soon overtake a number of its neighbors. Asia's
difficulties are far from the first occasion in which a balance-of-payments crisis has affected a number of
countries in the same region.
DE- FINANCIAL crises
DE- INTERNATIONAL trade
DE- PAYMENT
DE- BUSINESS cycles
DE- ECONOMIC history
GE- ASIA
IC- 522293 International Trade Financing
AD- 1 Professor of economics at The George Washington University.
IS- 0577-5132
AN- 5776838
UR- http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=5776838&site=bsi-live
Record: 9
TI- Will Bank Bailouts Bust Budgets? Fiscalisation of the East Asian financial crisis.
AU- Rosengard, Jay K. 1
JN- Asian-Pacific Economic Literature
PD- Nov2004, Vol. 18 Issue 2, p19-29
PG- 11p
DT- 20041101
PT- Article
AB- East Asia has returned to a position of relative financial stability and modest economic growth seven
years since the onset of the East Asian financial crisis, but the long-range impact of the crisis is still
unclear, especially regarding fiscal ramifications. Thailand and Indonesia were two of the hardest hit
economies and each had exemplary fiscal policies before the crisis. Since the crisis, both countries have
maintained prudent fiscal policies, keeping budget deficits relatively small, managing debt burdens
effectively and limiting exposure to contingent liabilities. Both countries have addressed the short-term
triggers of the financial crisis admirably and continue to monitor vigilantly their external vulnerabilities.
Thus, if either country experiences a fiscal crisis, it will be the result of other factors—bank bail-outs will
bust budgets only if banks have to be bailed out once again due to incomplete or insufficient financial
sector reform. [ABSTRACT FROM AUTHOR]
AB- Copyright of Asian-Pacific Economic Literature is the property of Blackwell Publishing Limited and its
content may not be copied or emailed to multiple sites or posted to a listserv without the copyright
holder's express written permission. However, users may print, download, or email articles for individual
use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should
refer to the original published version of the material for the full abstract. (Copyright applies to all
Abstracts)
DE- FINANCIAL crises
DE- BAILOUTS
DE- ECONOMIC stabilization
DE- ECONOMIC policy
SU- EAST Asia -- Economic conditions
SU- EAST Asia
GE- EAST Asia
AD- 1 fn1a
IS- 0818-9935
DI- 10.1111/j.1467-8411.2004.00147.x
AN- 14929038
UR- http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=14929038&site=bsi-live
10/8/08:
The "Kondratieff Winter" (http://www.kwaves.com/kond_overview.htm) refers to the part of a
multi-year cycle that has been an economic depression for many years throughout history.
These include depressions in 1835, 1875, and 1929 - although the Russian economist
Kondratieff's view of this 50-60 year cycle held from the period of 1789 onward. There are
many theories for why this "long wave" cycle occurs, but a simple view is to look at debt levels after a depression (deflation) clears the debt levels through defaults, the debt levels gradually
increase for the next 50-60 years or so, to unsustainable levels, and the system collapses and
debt is cleared again.
In Biblical times, this phenomenon was dealt with by declaring a "Jubillee" every 50 years, and
forgiving all debt. the Jubilee specified in Leviticus 25:9 that was a special year for the remission
of sins and universal pardon where debts are forgiven, slaves and prisoners freed, and the
mercies of God would be particularly manifest. (http://en.wikipedia.org/wiki/Jubilee).
Kondratieff Cycles: 10/9/08
Proquest Search Term “Kondratieff cycle AND Economic conditions”
Economic Conditions Ahead: Understanding the Kondratieff Wave
Forrester, Jay W.. The Futurist. Washington: Jun 1985. Vol. 19, Iss. 3; pg. 16, 5 pgs
Abstract (Summary)
The Massachusetts Institute of Technology has used its System Dynamics National Model to
identify and confirm the effects of the Kondratieff cycle on the economy. The Kondratieff cycle,
an economic long wave, predicts economic activity peaks 45-60 years apart. The Kondratieff
cycle indicates that the economy may now be entering a downturn similar to those experienced
in the 1830s, 1890s, and 1930s. Events and situations that occurred before earlier depressions
are once again emerging; concern about foreign debt and potential default is increasing;
business cycles are becoming more severe; and the economy has entered a period of global
overexpansion and excess capacity. Currently, at the peak of the long wave, productivity does
not increase, return on investment declines, and unemployment and prices rise. The economy
is likely to worsen because such major imbalances as foreign and domestic debt have not been
corrected. If the US does not control its deficit, it will have to default on its debt. The US must
now choose a path between deflation and hyperinflation. An awareness of the economic long
wave presents a chance to learn how to prevent conditions that lead to economic
deterioration.
Indexing (document details)
Subjects:
Kondratieff cycle, Economic trends, Economic forecasting, Economic
conditions
Classification
Codes
1130 Economic theory
Author(s):
Forrester, Jay W.
Publication title: The Futurist. Washington: Jun 1985. Vol. 19, Iss. 3; pg. 16, 5 pgs
Source type:
Periodical
ISSN:
00163317
ProQuest
document ID:
1096268
Document URL:
http://proquest.umi.com/pqdweb?did=1096268&sid=2&Fmt=2&clientId=68
972&RQT=309&VName=PQD
138 documents found for: Economic crisis AND Asia (location)
U.S. credit crisis & bailouts - reminiscent of 1997 Asian financial crisis
Valentino Sy. Filipino Reporter. New York, N.Y.: Mar 21-Mar 27, 2008. Vol. 36, Iss. 15; pg. 26, 1
pgs
Abstract (Summary)
In our previous article entitled "The U.S. can learn from the 1997 Asian Financial Crisis" we
discussed the parallels of the 1997 Asian financial crisis and the more recent U.S. housing and
credit crisis. Back then, Asia had a massive non-performing loan (NPL) problem where banks
could not find buyers for their NPLs which resulted in a liquidity crisis. The same thing is
happening now in the U.S. Suddenly, there are few buyers of mortgages, CDOs and other
financial instruments, creating liquidity squeeze on the financial system. In its latest move, the
Fed had to put up a $200 billion facility to provide liquidity.
In an attempt to ease liquidity strains in the financial system, the Fed announced a new
measure called Term securities Lending Facility (TSLF). Touted by many as the Fed's "smartest"
move yet, this is new facility is based on the existing Term Auction Facility (TAF) but with the
following key changes:
In the current environment, the Fed's $200-billion TSLF and the bailout of Bear Stems is
reenacting what Asian Central Banks did in 1997. Back then, the IMF issued bailouts to Korea
($56 billion), Indonesia ($40 billion) and Thailand ($17 billion). With funding from the IMF, diese
countries were then able to close insolvent financial institutions and set up centralized asset
management companies (AMCs) to deal with the impaired assets as part of their restructuring
program. So what is happening now is that the U.S. Government, through the Fed, is taking
over these insolvent firms to prevent further collateral damage to the financial system.
Indexing (document details)
Subjects:
Economic crisis, Nonperforming loans, Mortgage backed securities,
Subprime lending, Indexes, Economic indicators
Locations:
Asia, United States--US
Author(s):
Valentino Sy
Document
types:
Commentary
Document
features:
Graphs
Publication title: Filipino Reporter. New York, N.Y.: Mar 21-Mar 27, 2008. Vol. 36, Iss. 15; pg.
26, 1 pgs
Source type:
Newspaper
ProQuest
document ID:
1460010781
Text Word
Count
895
Document URL:
http://proquest.umi.com/pqdweb?did=1460010781&sid=4&Fmt=2&clientId
=68972&RQT=309&VName=PQD
Lasting Impacts of Indonesia's Financial Crisis.
Images
Go to all 12 images >>
Authors:
Ravallion, Martin1
Lokshin, Michael1
Source:
Economic Development & Cultural Change; Oct2007, Vol. 56 Issue 1, p27-56, 30p, 5
charts, 7 graphs
Document Type:
Article
Subject Terms:
*FINANCIAL crises
*INFRASTRUCTURE (Economics)
*ECONOMICS
*INCOME
*WEALTH
*HYSTERESIS (Economics)
MUNICIPAL services
HOUSEHOLDS
Geographic Terms:
INDONESIA
NAICS/Industry Codes:
814110 Private Households
Abstract:
The article focuses on the impact of financial crisis in Indonesia on the budget for public
infrastructure, services, and transfers. The behavior response of the population to the
crisis could mean future welfare costs of an economy. With this regard, multiple
equilibria in the income or wealth dynamics at the household level has been suggested
in such away that hysteresis can stem from a transient income. A counterfactual
assessment of the local welfare impacts of the crisis, both in short and long-term is
provided.
Author Affiliations:
1Development Research Group, World Bank
ISSN:
0013-0079
Accession Number:
26492678
http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=26492678&site=ehost-live
10/25/08 Ebscosearch
Title:
OWNERSHIP AND SUSTAINABILITY: LESSONS ON GROUP-BASED FINANCIAL SERVICES
FROM SOUTH ASIA.Find More Like This
Authors:
Bennett, Lynn1
Goldberg, Mike1
Hunte, Pamela1
Source:
Journal of International Development; Mar/Apr1996, Vol. 8 Issue 2, p271-288, 18p, 5
charts, 3 diagrams
Document Type:
Article
Subject Terms:
*FINANCIAL institutions
*NON-governmental organizations
*FINANCIAL services industry
*FINANCE
Geographic Terms:
SOUTH Asia
NAICS/Industry Codes:
522291 Consumer Lending
Abstract:
This study of rural group-based financial service projects of five NGOs in South Asia
illustrates a great degree of variation between the different systems in structure,
function and success rates. In the area of accessibility, all five systems have been quite
successful in reaching the rural poor--especially non-literate women. However, results
concerning financial sustainability of the groups are not so clear cut. The two systems in
which the NGO helped groups to form their own parallel financial institution (e.g. a cooperative or village bank) achieved financial sustainability than those systems where the
NGO linked groups with existing local financial institutions. But the main factor behind
the success of parallel systems the central concept of client ownership. This has resulted
in high degrees of loan recovery due to the fact that all or most of the loan funds are
internally generated and therefore owned by the group members rather than externally
obtained from donors. In addition, social intermediation in the sense of investment in
capacity building at the group level (management, accounting, etc.) is a crucial step
towards sustainability. Despite the importance of achieving sustainability, the authors
conclude that subsidies do have a role to play--especially in harsh socio-economic
environments where costs are necessarily high. However, subsidies should be utilized to
develop group members' abilities to assume the responsibilities of ownership--rather
supporting a welfare approach. [ABSTRACT FROM AUTHOR]
Copyright of Journal of International Development is the property of John Wiley & Sons,
Inc. / Business and its content may not be copied or emailed to multiple sites or posted
to a listserv without the copyright holder's express written permission. However, users
may print, download, or email articles for individual use. This abstract may be abridged.
No warranty is given about the accuracy of the copy. Users should refer to the original
published version of the material for the full abstract. (Copyright applies to all Abstracts)
Author Affiliations:
1Human Resources Division, The World Bank, Washington, D.C., USA
ISSN:
0954-1748
Accession Number:
18329429
Persistent link to this record (Permalink):
http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=18329429&site=bsilive
Database:
Business Source Complete
10/25/08 Google scholar search
“community reaction to economic collapse”
Community, Culture, and Economic Development
By Meredith Ramsay
http://books.google.com/books?hl=en&lr=&id=njcRr0Y9vogC&oi=fnd&pg=PR7&dq=community
+reaction+to+economic+collapse&ots=u9tDj_Un3S&sig=ojdVVvOIx3nnZGOa8MAOSXAe9OE#PP
A4,M1
A World to Make
By Francis Xavier Sutton
Page 1, William H. McNeill “Control and Catastrophe in Human Affairs”
http://books.google.com/books?hl=en&lr=&id=FdluBxRwqwgC&oi=fnd&pg=PA1&dq=1873+de
pression+small+scale+community+response&ots=VonkUsBVT9&sig=9Tpbd58EELLeHuE8xZnsSbD0kg#PPP1,M1
Alfred Chandler’s book “The Visible Hand”, post 1873 depression information
http://www.cepr.net/documents/publications/tenyearsafter_2007_11.pdf
Ten Years After:
Revisiting the Asian Financial Crisis