Microfinance and Household Poverty Reduction: New evidence from India

The objective of the present study is to examine whether household access to microfinance reduces poverty. Using national household data from India, treatment effects model is employed to estimate the poverty-reducing effects of MFIs loans for productive purposes, such as investment in agriculture or non-farm businesses on household poverty levels. These models take into account the endogenous binary treatment effects and sample selection bias associated with access to MFIs. Despite some limitations, such as those arising from potential unobservable important determinants of access to MFIs, significant positive effect of MFI productive loans on multidimensional welfare indicator has been confirmed. The significance of treatment "effects" coefficients have been verified by both Tobit and Propensity Score Matching models. In addition, we found that loans for productive purposes were more important for poverty reduction in rural than in urban areas. However in urban areas, simple access to MFIs has larger average poverty-reducing effects than the access to loans from MFIs for productive purposes. This leads to exploring service delivery opportunities that provide an additional avenue to monitor the usage of loans to enhance the outreach.Microfinance, Poverty, Evaluation, India, Propensity Score Matching

Microfinance and Poverty -A Macro Perspective

Building on the recent literature on finance, growth and hunger, we have examined the experience of Asian countries over the last five decades, using dynamic panel models. Although the results are mixed, depending on the specification and variables used, there is some evidence favouring a positive role of finance in growth of GDP and agricultural value added. While financial development reduces income inequality, the effects on hunger are not so robust. Although microfinance has considerable potential for ameliorating deprivation, the contraction of credit and risk aversion of investors, together with a faltering global recovery, underlie gloomy prospects for the poor in Asia.Finance, Economic Development, Agriculture, Inequality, Poverty, Asia

Analysis of Poverty Reducing Effects of Microfinance from a Macro Perspective: Evidence from Cross-Country Data

This paper tests the hypothesis that microfinance reduces poverty at macro level using the cross-country data in 2007. The results of econometric estimation for poverty head count ratio show, taking account of the endogeneity associated with loans from microfinance institutions (MFIs), that microfinance loans significantly reduce poverty. Thus, a country with higher MFI's gross loan portfolio tends to have lower poverty incidence after controlling the other factors influencing poverty. We also found that poverty reducing effect tends to be larger in Sub Saharan Africa (SSA) as suggested by the negative and significant coefficient estimate of the SSA dummy and gross loan portfolio. From a policy perspective, our results would justify increase in investment from development finance institutions and governments of developing countries into microfinance loans as a means of poverty reduction.

Performance of Microfinance Institutions-A Macroeconomic and Institutional Perspective

Under the continued effects of global financial crisis where the donor's investment in microfinance sectors has become shrunk, how the macroeconomic factors or the crisis or the macro-institutional factors would affect the performance of microfinance institutions (MFIs) have become one of the key debates among the policy makers and practitioners. The present paper has investigated the effect of both institutional factors and the macro economy on the financial performance of MFIs drawing upon the Microfinance Information Exchange (MIX) data as well as cross-country data of macro economy, finance and institutions drawing upon three stage least squares (3SLS) and fixed effects vector decomposition (FEVD) to take account of the endogeneity of key explanatory variables. In contrast to Ahlin et al.'s (2010), we generally find that institutional factors affect MFIs' financial performance, in particular, profitability, operating expense, and portfolio quality. It is also found that the macro-economic and financial factors, such as GDP and share of domestic credit to GDP, have positive impacts on MFIs' financial performance, such as profitability, operating expense ratio and portfolio quality. It is thus concluded that while macroeconomic factors are important, improving macro-institutional factors, policies to raise country-level institutional qualities are required for making the activities of MFIs more sustainable under the global recession.

Financial Performance of Microfinance Institutions-A Macroeconomic and Institutional Perspective

This study investigates the effect of both institutional factors and the macro economy on the financial performance of MFIs. Drawing upon the Microfinance Information Exchange data and cross-country data on macro economy, finance and institutions, we use three stage least squares and Hausman-Taylor to take account of endogeneity. We find that institutional factors affect MFIs’ financial performance, in particular, profitability, operating expense, and portfolio quality. Also, GDP and share of domestic credit to GDP have positive impacts on MFIs’ financial performance. Hence policies to raise country-level institutional qualities are required for making the activities of MFIs sustainable.Microfinance, Financial Performance, Macro economy and Institutions

The effect of the antisickling compound GBT1118 on the permeability of red blood cells from patients with sickle cell anemia.

Sickle cell anemia (SCA) is one of the commonest severe inherited disorders. Nevertheless, effective treatments remain inadequate and novel ones are avidly sought. A promising advance has been the design of novel compounds which react with hemoglobin S (HbS) to increase oxygen (O2 ) affinity and reduce sickling. One of these, voxelotor (GBT440), is currently in advanced clinical trials. A structural analogue, GBT1118, was investigated in the current work. As RBC dehydration is important in pathogenesis of SCA, the effect of GBT1118 on RBC cation permeability was also studied. Activities of Psickle , the Gardos channel and the KCl cotransporter (KCC) were all reduced. Gardos channel and KCC activities were also inhibited in RBCs treated with Ca2+ ionophore or the thiol reagent N-ethylmaleimide, indicative of direct effects on these two transport systems. Consistent with its action on RBC membrane transporters, GBT1118 significantly increased RBC hydration. RBC hemolysis was reduced in a nonelectrolyte lysis assay. Further to its direct effects on O2 affinity, GBT1118 was therefore found to reduce RBC shrinkage and fragility. Findings reveal important effects of GBT1118 on protecting sickle cells and suggest that this is approach may represent a useful therapy for amelioration of the clinical complications of SCA.Sultanate of Oman His Majesty Sultan Qaboos's 1000 grants British Heart Foundatio

Cloud Based Solid Waste Transportation Optimisation for Energy Conversion

Effective and efficient management of solid waste is an incessantly growing and the obdurate problem of global and regional levels particularly for local authorities in urban centers. Several processes such as monitoring, collection, transporting, processing, recycling, and disposal are involved that requires immediate attention owing to economic and environmental concerns. Expressly the gathering and moving of solid waste to the energy production/recycling/ending destination has been prioritized higher because of its significant share of the total waste management budget. All these processes involve the mammoth amount of data and their manipulation for real-time use. Hence, this paper proposes a cloud based algorithm to optimize the transportation cost of solid waste from transfer stations to the final dumping stations subject to transfer vehicle constraints. The solid waste transportation dispatching is a direct analytical approach that provides three options: (i) economic dispatch option provides a minimum operating cost of solid waste transfer and its corresponding emission; (ii) emission dispatch option provides a minimum vehicle emission for the same quantity of the solid waste transferred and its corresponding operating cost of transfer and finally (iii) an environmentally friendly economic transfer of solid waste. The efficacy of the algorithm has been shown with an enduring solid waste management system in the Indian context. Keywords: Cloud, economic and environmental concerns, solid waste transportation JEL Classifications: B41, C61, C88, R4

Sustainable Economic and Emission Control Strategy for Deregulated Power Systems

The electric power system operation and control is a multifaceted problem aims at assuring an economic, reliable, and environmentally acceptable power supply to its consumers at all times. So as to be environmentally acceptable, electric utilities are required to reduce their power plant emissions. Due to significant consumers' responsiveness on clean electrical energy, varied operational performance schemes have developed in time. The integration of renewable energy resources, implementation of advanced pollution control equipment, adoption of multi-fuel dispatching techniques, up gradation of inefficient power generating units, and emission constraint generation scheduling are a few of them. This paper proposes a non-iterative analytical algorithm for generation scheduling of deregulated energy systems with economic and emission control strategies subject to line load ability constraints. The objectives are achieved through changes in operating and control policies only without any changes in the system configuration. Application to a modified IEEE 30-bus test system validates the suitability of the proposed control schemes for real-time implementation. Keywords:  Economic control, emission control, transmission line load ability, generation scheduling, non-iterative analytical method JEL Classifications: C82, L94, P18, Q4

Secondary bacterial infections of buruli ulcer lesions before and after chemotherapy with streptomycin and rifampicin

Buruli ulcer (BU), caused by Mycobacterium ulcerans is a chronic necrotizing skin disease. It usually starts with a subcutaneous nodule or plaque containing large clusters of extracellular acid-fast bacilli. Surrounding tissue is destroyed by the cytotoxic macrolide toxin mycolactone produced by microcolonies of M. ulcerans. Skin covering the destroyed subcutaneous fat and soft tissue may eventually break down leading to the formation of large ulcers that progress, if untreated, over months and years. Here we have analyzed the bacterial flora of BU lesions of three different groups of patients before, during and after daily treatment with streptomycin and rifampicin for eight weeks (SR8) and determined drug resistance of the bacteria isolated from the lesions. Before SR8 treatment, more than 60% of the examined BU lesions were infected with other bacteria, with Staphylococcus aureus and Pseudomonas aeruginosa being the most prominent ones. During treatment, 65% of all lesions were still infected, mainly with P. aeruginosa. After completion of SR8 treatment, still more than 75% of lesions clinically suspected to be infected were microbiologically confirmed as infected, mainly with P. aeruginosa or Proteus miriabilis. Drug susceptibility tests revealed especially for S. aureus a high frequency of resistance to the first line drugs used in Ghana. Our results show that secondary infection of BU lesions is common. This could lead to delayed healing and should therefore be further investigated