Microfinance Market Niches and Client Profiles in Bolivia

This paper presents and interprets descriptive statistics generated from data obtained in a survey of clients of five microfinance organizations believed to be among the best in Bolivia. These lenders represent different combinations of organizational design, lending technology, and market area of operations. Two are regulated financial intermediaries and three are NGOs. Two operate in rural areas (PRODEM and Sartawi) and three operate in urban areas (BancoSol, FIE, and Caja Los Andes). Two offer individual loans and three grant loans through joint liability groups. The paper discusses household-enterprise profiles of a sample of 622 clients and identifies terms and conditions of loan contracts with these organizations to evaluate the depth and quality of their outreach.Marketing,segmentation,Bolivia,competition,microfinance

MICROFINANCE MARKET NICHES AND CLIENT PROFILES IN BOLIVIA

This paper presents and interprets descriptive statistics generated from data obtained in a survey of clients of five microfinance organizations believed to be among the best in Bolivia. These lenders represent different combinations of organizational design, lending technology, and market area of operations. Two are regulated financial intermediaries and three are NGOs. Two operate in rural areas (PRODEM and Sartawi) and three operate in urban areas (BancoSol, FIE, and Caja Los Andes). Two offer individual loans and three grant loans through joint liability groups. The paper discusses household-enterprise profiles of a sample of 622 clients and identifies terms and conditions of loan contracts with these organizations to evaluate the depth and quality of their outreach. The interpretation seeks to establish connections between key characteristics of the clients and features of the lending technologies that lead to the matching of classes of borrowers with particular organizations and that influence the choice of market niches. Data on loan sizes suggest the existence of different but broadly overlapping market niches associated with three tiers of clients. The sharpest distinction is between urban and rural clients. The matching between clients and organizations also reflects a weak but positive correlation between levels of poverty and loan sizes. According to an index of basic needs fulfillment of their clients, these organizations can be ranked as: FIE and Caja Los Andes (first tier), BancoSol (second tier), and PRODEM and Sartawi (third tier). The same ranking is obtained when clients are ordered according to loan size, the ratio of loan size to the value of sales, and the value of monthly sales. The three tiers of clients are associated with different socio-economic features of their household-enterprises: sex, education, household size, access to electricity, water supplies, and sewage facilities, employment-generating capacity of the enterprise, informality and separation of household and enterprise, occupations and the like. The development of lending technologies that do not rely on standard financial statements and collateralizable assets is a formidable innovation that explains the outreach and sustainability of these organizations. Differences in the guarantees required for loans dominate distinctions in lending technology. Trade-offs between loan size, interest rates, and guarantee requirements attract different subsets of the clientele. Joint liability seems to be appropriate for very poor people, but group borrowers eventually outgrow this relationship. Caja Los Andes and FIE have shown that it is possible to supply individual loans to poor people and be profitable. Most clients are satisfied with the services received. The lowest satisfaction concerns loan sizes and loan-size rationing may be widespread. At least in urban areas, increasing competition will force these organizations to improve their services and adjust loan sizes. All of these organizations are expanding the frontier of microfinance by developing lending technologies for a much poorer clientele than is reached by collateral-based lenders. This is a formidable achievement.Financial Economics,

Analytical Model of Socio-Technical Sustainability of Dynamic Hypermedia Devices

Este artículo presenta un modelo analítico de sostenibilidad de redes socio-técnicas para la construcción colaborativa de conocimiento en contextos institucionales y organizacionales. El objetivo se centra en fundamentar una perspectiva teórica-metodológica a partir de la noción de “dispositivo hipermedial dinámico” (DHD). En lo metodológico, desde un posicionamiento sociotécnico, se realiza una revisión de los principales debates y perspectivas teóricas sobre la expansión de TIC en relación a la problemática a tratar. Luego se desarrollan propositivamente las componentes del modelo de sostenibilidad-DHD siguiendo sus cuatro dimensiones: social, institucional, tecnológica y textual. El diseño del modelo, no jerárquico y relacional, se estima a su vez beneficioso para orientar el proceso constructivo de este tipo de dispositivos. Además, puede colaborar de manera flexible para analizar transformaciones socio-tecnológicas en diversos contextos situados. Finalmente, la consistencia de los resultados analíticos a alcanzar podría ser efectiva, ya que es posible vincular: el carácter dinámico, relacional e interactivo de las características de una tecnología; las tensiones sociales y políticas existentes en el marco socio-institucional donde se desarrolla; las posibles formas de diseño participativo, en función de los requerimientos de una institución u organización; y la producción colaborativa en red, promoviendo responsabilidades de gestión organizacional.Este artigo apresenta um modelo analítico de sustentabilidade de redes sociotécnicas para a construção colaborativa de conhecimento em contextos institucionais/organizacionais. O objetivo é focado na fundamentação de uma perspectiva teórico-metodológica a partir da noção de “dispositivo hipermedial dinâmico” (DHD). No metodológico, a partir de um posicionamento sociotécnico, é feita uma revisão dos principais debates e perspectivas teóricas sobre a expansão de TIC em relação à problemática a ser tratada. Depois, são desenvolvidos propositivamente os componentes do modelo de sustentabilidade-DHD seguindo suas quatro dimensões: social, institucional, tecnológica e textual. O design do modelo, não hierárquico e relacional, é também considerado propício para orientar o processo construtivo deste tipo de dispositivos. Além disso, pode colaborar de forma flexível para analisar transformações sociais tecnológicas em diversos contextos. Finalmente, a consistência dos resultados analíticos a serem alcançados poderia ser efetiva, pois é possível vincular: o caráter dinâmico, relacional e interativo das características de uma tecnologia; as tensões sociais e políticas existentes no plano social institucional onde é desenvolvido; as possíveis formas de design participativo, em função dos requerimentos de uma instituição ou organização; e a produção colaborativa em rede, promovendo responsabilidades de gestão organizacional.This paper presents an analytical model of sustainable socio-technical networks for the collaborative knowledge building in organizational/institutional contexts. Its objective focuses on supporting a theoretic-methodological perspective based on the idea of a “dynamic hypermedia device” (DHD). With regard to the methodological aspect, from a socio-technical position, the main debates and theoretical perspectives about the expansion of information and communication technologies pertinent to the issue to be discussed are reviewed. Then the components of the sustainability-DHD model are developed proactively, following its four dimensions: social, institutional, technological and textual. The design of the model, nonhierarchical and relational, is considered beneficial to guide the building process of these kinds of devices. In addition, it can collaborate in a flexible way in order to analyze the sociotechnological transformations in diverse situational contexts. Finally, the consistency of the analytical results to be reached could be effective, since it is possible to connect: the dynamic, relational and interactive aspects of the technology’s characteristics; the social and political tensions within the socio-institutional framework in which it develops; the possible ways of participative design, as a function of the institution or organization’s requirements; and the networked collaborative production, promoting organizational management responsibilities.Fil: Andres, Gonzalo Dario. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Rosario. Instituto Rosario de Investigaciones en Ciencias de la Educación. Universidad Nacional de Rosario. Instituto Rosario de Investigaciones en Ciencias de la Educación; ArgentinaFil: San Martin, Patricia Silvana. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Rosario. Instituto Rosario de Investigaciones en Ciencias de la Educación. Universidad Nacional de Rosario. Instituto Rosario de Investigaciones en Ciencias de la Educación; ArgentinaFil: Rodriguez, Guillermo L.. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Rosario. Instituto Rosario de Investigaciones en Ciencias de la Educación. Universidad Nacional de Rosario. Instituto Rosario de Investigaciones en Ciencias de la Educación; Argentin

AMCIS 2008 Panel Summary: Managing Student Projects - Learning from the Past

This paper is the summary of a panel presentation at the Americas Conference on Information Systems (AMCIS) 2008. We examine methods to employ in managing student projects. With the underlying assumption that we all want students to learn from their projects and become successful in the workplace while minimizing our micromanaging as instructors, we will share what we have learned from our (and our students’) successes and failures. Another assumption is that if you have taught classes in which you have used student group projects, you are not 100 percent pleased with the results and would not do everything the exact same way again. In our discussion, we examine successful methods for managing the aspects of forming groups, managing teams, and the project assignment itself including guidelines, deliverables, evaluation, and presentation

Microfinance Market Niches and Client Profiles in Bolivia

This paper presents and interprets descriptive statistics generated from data obtained in a survey of clients of five microfinance organizations believed to be among the best in Bolivia. These lenders represent different combinations of organizational design, lending technology, and market area of operations. Two are regulated financial intermediaries and three are NGOs. Two operate in rural areas (PRODEM and Sartawi) and three operate in urban areas (BancoSol, FIE, and Caja Los Andes). Two offer individual loans and three grant loans through joint liability groups. The paper discusses household-enterprise profiles of a sample of 622 clients and identifies terms and conditions of loan contracts with these organizations to evaluate the depth and quality of their outreach. The interpretation seeks to establish connections between key characteristics of the clients and features of the lending technologies that lead to the matching of classes of borrowers with particular organizations and that influence the choice of market niches. Data on loan sizes suggest the existence of different but broadly overlapping market niches associated with three tiers of clients. The sharpest distinction is between urban and rural clients. The matching between clients and organizations also reflects a weak but positive correlation between levels of poverty and loan sizes. According to an index of basic needs fulfillment of their clients, these organizations can be ranked as: FIE and Caja Los Andes (first tier), BancoSol (second tier), and PRODEM and Sartawi (third tier). The same ranking is obtained when clients are ordered according to loan size, the ratio of loan size to the value of sales, and the value of monthly sales. The three tiers of clients are associated with different socio-economic features of their household-enterprises: sex, education, household size, access to electricity, water supplies, and sewage facilities, employment-generating capacity of the enterprise, informality and separation of household and enterprise, occupations and the like. The development of lending technologies that do not rely on standard financial statements and collateralizable assets is a formidable innovation that explains the outreach and sustainability of these organizations. Differences in the guarantees required for loans dominate distinctions in lending technology. Trade-offs between loan size, interest rates, and guarantee requirements attract different subsets of the clientele. Joint liability seems to be appropriate for very poor people, but group borrowers eventually outgrow this relationship. Caja Los Andes and FIE have shown that it is possible to supply individual loans to poor people and be profitable. Most clients are satisfied with the services received. The lowest satisfaction concerns loan sizes and loan-size rationing may be widespread. At least in urban areas, increasing competition will force these organizations to improve their services and adjust loan sizes. All of these organizations are expanding the frontier of microfinance by developing lending technologies for a much poorer clientele than is reached by collateral-based lenders. This is a formidable achievement

On the extreme stationary outflows from super-star clusters: from superwinds to supernebulae and further massive star formation

The properties of star cluster winds in the supercritical, catastrophic cooling regime are discussed. We demonstrate that strong radiative cooling may inhibit superwinds and, after a rapid phase of accumulation of the ejected material within the star-forming volume, a new stationary isothermal regime, supported by the ionizing radiation from the central cluster, is established. The expected appearance of this core/halo supernebula in the visible line regime and possible late evolutionary tracks for super-star cluster winds, in the absence of ionizing radiation, are thoroughly discussed.Comment: 11 pages, 5 figures, accepted for publication by The Astrophysical Journa

Evaluación de la respuesta del cultivo de maní (Arachis hypogaea L.) frente a la inoculaciòn con Trichoderma

El género Trichodema es ampliamente conocido por el efecto antagònico contra un amplio rango de patògenos del suelo, principalmente de los géneros Phytophtora, Rhizoctoria, Sclerotium, Colletotrichum, Pythium y Fusarium. Además del efecto biocontrolador de patógenos, induce el crecimiento vegetal durante la germinación y aumenta el volumen, la altura, así como el peso de la planta. Asimismo, Trichoderma al movilizar la materia orgánica del medio, incrementa la absorción de compuestos simples por parte de la planta mejorando su estado nutricional. Dado que este género tiene la capacidad de competir a nivel rizosférico contra hongos patógenos, los autores señalan que el uso de Trichoderma ha mostrado ser tan eficiente que ha sustituido en algunos casos el uso de químicos, logrando promover el crecimiento a nivel radicular y vegetativo a niveles no alcanzados por los fertilizantes. En definitiva tiene la capacidad de incrementar la productividad lo cual podría ser particularmente beneficioso sumado a su capacidad de controlar patógenos de suelo. El presente trabajo tuvo como objetivo evaluar la respuesta del cultivo de maní mediante la inoculación de cepas de Trichoderma.INTA. Centro Regional Córdoba. EEA Manfredi.Fil: Cordes, Guillermo. Instituto Nacional de Tecnología Agropecuaria (INTA). Estación Experimental Agropecuaria Manfredi. Grupo Protección Vegetal; ArgentinaFil: Rodriguez, Ana Valeria. Instituto Nacional de Tecnología Agropecuaria (INTA). Estación Experimental Agropecuaria Manfredi. Grupo Protecciòn Vegetal; Argentina.Fil: Ovando, Claudio Walter. Instituto Nacional de Tecnología Agropecuaria (INTA). Estación Experimental Agropecuaria Manfredi. Grupo Protección Vegetal; Argentina.Fil: Gimenez, L. Universidad Nacional de Córdoba; Argentin

Use of Aerial Laser Scanning to Assess the Effect on C Sequestration of Oak (Quercus ilex L. subsp. ballota [Desf.]Samp-Q. suber L.) Afforestation on Agricultural Land

Conversion of agricultural lands to forest plantations to mitigate rising atmospheric carbon dioxide (CO2) has been proposed, but it depends on accurate estimation of the on-site carbon (C) stocks distribution. The use of aerial laser scanning (ALS) data is a rapidly evolving technology for the quantification of C stocks. We evaluated the use of allometric models together with high-density ALS data for the quantification of biomass and soil C stocks in a 14-year-old Quercus ilex and Q. suber plantation in Southwestern Spain. In 2010, a field survey was performed and tree dasometric and biomass variables were measured. Forty-five soil profiles (N = 180 soil samples) were taken systematically and the soil organic C content (SOC) was determined. Biomass and soil organic C values were regressed against individual dasometric variables and total tree height was used as a predictor variable. Aerial laser scanning data were acquired with a point density of 12 points m−2. Relationships among ALS metrics and tree height were determined using stepwise regression models and used in the allometric models to estimate biomass and SOC C stocks. Finally, a C stock map of the holm-cork oak cover in the study area was generated. We found a tree total biomass of 27.9 kg tree−1 for holm oak and 41.1 kg tree−1 for cork oak. In the holm oak plantation, the SOC content was 36.90 Mg ha−1 for the layer 0–40 cm (SOC40) under the tree crown and 29.26 Mg ha−1 for the inter-planted area, with significant differences from the reference agricultural land (33.35 Mg ha−1). Linear regression models were developed to predict the biomass and SOC at the tree scale, based on tree height (R2 >0.72 for biomass, and R2 >0.62 for SOC). The overall on-site C stock in the holm-cork oak plantation was 35.11 Mg ha−1, representing a net C stock rise of 0.47 Mg ha−1 yr−1. The ALS data allows a reliable estimation of C stocks in holm and cork oak plantations and high-resolution maps of on-site C stocks are useful for silvicultural planning. The cost of ALS data acquisition has decreased and this method can be generalised to plantations of other Mediterranean species established on agricultural lands at regional scales. However, an increase of filed data and the availability of local biomass and, in particular, SOC will improve accurate quantification of the C stocks from allometric equations, and extrapolation to large planted areas

Constitutive expression of selected genes from the pentose phosphate and aromatic pathways increases the shikimic acid yield in high-glucose batch cultures of an Escherichia coli strain lacking PTS and pykF

BACKGROUND: During the last two decades many efforts have been directed towards obtaining efficient microbial processes for the production of shikimic acid (SA); however, feeding high amounts of substrate to increase the titer of this compound has invariably rendered low conversion yields, leaving room for improvement of the producing strains. In this work we report an alternative platform to overproduce SA in a laboratory-evolved Escherichia coli strain, based on plasmid-driven constitutive expression of six genes selected from the pentose phosphate and aromatic amino acid pathways, artificially arranged as an operon. Production strains also carried inactivated genes coding for phosphotransferase system components (ptsHIcrr), shikimate kinases I and II (aroK and aroL), pyruvate kinase I (pykF) and the lactose operon repressor (lacI). RESULTS: The strong and constitutive expression of the constructed operon permitted SA production from the beginning of the cultures, as evidenced in 1 L batch-mode fermentors starting with high concentrations of glucose and yeast extract. Inactivation of the pykF gene improved SA production under the evaluated conditions by increasing the titer, yield and productivity of this metabolite compared to the isogenic pykF(+) strain. The best producing strain accumulated up to 43 g/L of SA in 30 h and relatively low concentrations of acetate and aromatic byproducts were detected, with SA accounting for 80% of the produced aromatic compounds. These results were consistent with high expression levels of the glycolytic pathway and synthetic operon genes from the beginning of fermentations, as revealed by transcriptomic analysis. Despite the consumption of 100 g/L of glucose, the yields on glucose of SA and of total aromatic compounds were about 50% and 60% of the theoretical maximum, respectively. The obtained yields and specific production and consumption rates proved to be constant with three different substrate concentrations. CONCLUSIONS: The developed production system allowed continuous SA accumulation until glucose exhaustion and eliminated the requirement for culture inducers. The obtained SA titers and yields represent the highest reported values for a high-substrate batch process, postulating the strategy described in this report as an interesting alternative to the traditionally employed fed-batch processes for SA production