74,076 research outputs found
Networks of micro and small enterprise banks : a contribution to financial sector development :[Version January 2004]
The paper is a follow-up to an article published in Technique Financière et Developpement in 2000 (see the appendix to the hardcopy version), which portrayed the first results of a new strategy in the field of development finance implemented in South-East Europe. This strategy consists in creating microfinance banks as greenfield investments, that is, of building up new banks which specialise in providing credit and other financial services to micro and small enterprises, instead of transforming existing credit-granting NGOs into formal banks, which had been the dominant approach in the 1990s. The present paper shows that this strategy has, in the course of the last five years, led to the emergence of a network of microfinance banks operating in several parts of the world. After discussing why financial sector development is a crucial determinant of general social and economic development and contrasting the new strategy to former approaches in the area of development finance, the paper provides information about the shareholder composition and the investment portfolio of what is at present the world's largest and most successful network of microfinance banks. This network is a good example of a well-functioning "private public partnership". The paper then provides performance figures and discusses why the creation of such a network seems to be a particularly promising approach to the creation of financially self-sustaining financial institutions with a clear developmental objective
Networks of micro and small enterprise banks : a contribution to financial sector development : [Version March 2005]
The paper is a follow-up to an article published in Technique Financière et Developpement in 2000 (see the appendix to the hardcopy version), which portrayed the first results of a new strategy in the field of development finance implemented in South-East Europe. This strategy consists in creating microfinance banks as greenfield investments, that is, of building up new banks which specialise in providing credit and other financial services to micro and small enterprises, instead of transforming existing credit-granting NGOs into formal banks, which had been the dominant approach in the 1990s. The present paper shows that this strategy has, in the course of the last five years, led to the emergence of a network of microfinance banks operating in several parts of the world. After discussing why financial sector development is a crucial determinant of general social and economic development and contrasting the new strategy to former approaches in the area of development finance, the paper provides information about the shareholder composition and the investment portfolio of what is at present the world's largest and most successful network of microfinance banks. This network is a good example of a well-functioning "private public partnership". The paper then provides performance figures and discusses why the creation of such a network seems to be a particularly promising approach to the creation of financially self-sustaining financial institutions with a clear developmental objective
Process for purification of solids
A process for purifying solids, especially silicon, by melting and subsequent resolidification, is described. Silicon used in solar cell manufacturing is processed more efficiently and cost effectively
Balance training of the equilibrium organ and its effect on flight strategy
An experimental program was conducted with the pendular platform of the Oto-Rhino-Laryngology Clinic, which was developed for the investigation of disturbances of the equilibrium. The equilibrium sense of the glider pilot was emphasized. Results are presented
Final excitation energy of fission fragments
We study how the excitation energy of the fully accelerated fission fragments
is built up. It is stressed that only the intrinsic excitation energy available
before scission can be exchanged between the fission fragments to achieve
thermal equilibrium. This is in contradiction with most models used to
calculate prompt neutron emission where it is assumed that the total excitation
energy of the final fragments is shared between the fragments by the condition
of equal temperatures. We also study the intrinsic excitation-energy partition
according to a level density description with a transition from a
constant-temperature regime to a Fermi-gas regime. Complete or partial
excitation-energy sorting is found at energies well above the transition
energy.Comment: 8 pages, 3 figure
Newtonian Limit of Conformal Gravity
We study the weak-field limit of the static spherically symmetric solution of
the locally conformally invariant theory advocated in the recent past by
Mannheim and Kazanas as an alternative to Einstein's General Relativity. In
contrast with the previous works, we consider the physically relevant case
where the scalar field that breaks conformal symmetry and generates fermion
masses is nonzero. In the physical gauge, in which this scalar field is
constant in space-time, the solution reproduces the weak-field limit of the
Schwarzschild--(anti)DeSitter solution modified by an additional term that,
depending on the sign of the Weyl term in the action, is either oscillatory or
exponential as a function of the radial distance. Such behavior reflects the
presence of, correspondingly, either a tachion or a massive ghost in the
spectrum, which is a serious drawback of the theory under discussion.Comment: 9 pages, comments and references added; the version to be published
in Phys. Rev.
- …