The impact of microfinance on microenterprise development in Ghana

Poverty has adverse impact on economic growth, human dignity and wellbeing. Therefore, experiments with microloans to tackle financial exclusion and underinvestment have positive implications for development economic theory and practice. However, drawing on microfinance analysis, often, the three dimensions of microfinance impact-poverty, empowerment and microenterprise development are evaluated together (Hermes and Lensink, 2011; Duvendack and Palmer-Jones, 2012; and Banerjee, et al., 2013). Ledgerwoods (1999) have argued that this recurring theme in impact studies in Ghana shows the existing evaluations and outcomes have lumped microfinance impact (Annim et al., 2008 and; Adjei and Arun, 2009). Moreover, Karlan and Goldberg (2007) suggested that investigating the impact of microfinance on each of the above elements independently is desirable as it enables policy makers to develop more targeted policy tools. Thus, this study investigated the relationship between provision of microfinance services and microenterprise development. This is an empirical study that is carried out using 134 structured questionnaires, 19 semi-structured interviews (Microfinance Institution (MFI) -9 and Microenterprises-10). The research findings suggest there is a significant relationship between provision of microfinance and positive outcomes of microenterprise projects. However, pre-loan induction, conception and nurturing of enterprise ideas and developing their self-esteem are critical for the success of microenterprise activities. The study results have significant positive implications for the wider literature that suggests microfinance aid microenterprise development and promotes human dignity (Karnani, 2007). Furthermore, the study proposes a conceptual model for the development of microfinance and increase of micro-entrepreneurial activities for the poor

Is microfinance for women empowerment a zero sum game?

Microfinance interventions are often hailed to have significant positive consequences for women empowerment. However, in the last decade, the significance of microfinance has been contested due to unintended consequences that undermine women’s wellbeing. This paper sets out to examine whether microfinance empowers women or is it a zero-sum game. The paper deploys a participatory mixed-method approach including household questionnaire surveys, focus group discussions and key informant interviews to investigate the dynamics of microfinance effects on women in communities of different vulnerability status in Ghana. The results of hierarchical regression, triadic closure and thematic analyses demonstrate that the economic benefits of microfinance for women is also directly associated with conflicts amongst spouses, girl child labour, polygyny and the neglect of perceived female-domestic responsibilities due to women’s devotion to their enterprises. In the light of limited empirical evidence on potentially negative impacts of women empowerment interventions in Africa, this paper fills a critical gap in knowledge that will enable NGOs, MFI’s, policy makers and other stakeholders to design and implement more effective interventions that mitigate undesirable consequences

Environmental Tax, SME Financing Constraint and Innovation. Evidence from OECD Countries

This paper examines the impact of environmental tax on SME innovation and how SME financing constraint moderates this relationship. Given the paucity of research on the implications of financing constraints on SMEs’ green innovative activities, the study adopts cross-country panel data to investigate the impact of environmental tax on SME’s innovative activities across 24 OECD countries for the period 2000-2019. Results from our study indicate that an increase in environmental tax leads to a decrease in SME innovation. Further, we also find that financing constraint positively moderates the relationship between environmental tax and SME innovation. Our findings shed new light on the theoretical and practical implications of financing constraints on SMEs’ green innovative activities

X-ray magnetic circular dichroism in (Ge,Mn) compounds: experiments and modeling

X-ray absorption (XAS) and x-ray magnetic circular dichroism (XMCD) spectra at the L$_{2,3}$ edges of Mn in (Ge,Mn) compounds have been measured and are compared to the results of first principles calculation. Early \textit{ab initio} studies show that the Density Functional Theory (DFT) can very well describe the valence band electronic properties but fails to reproduce a characteristic change of sign in the L$_{3}$ XMCD spectrum of Mn in Ge$_3$Mn$_5$, which is observed in experiments. In this work we demonstrate that this disagreement is partially related to an underestimation of the exchange splitting of Mn 2$p$ core states within the local density approximation. It is shown that the change in sign experimentally observed is reproduced if the exchange splitting is accurately calculated within the Hartree-Fock approximation, while the final states can be still described by the DFT. This approach is further used to calculate the XMCD in different (Ge,Mn) compounds. It demonstrates that the agreement between experimental and theoretical spectra can be improved by combining state of the art calculations for the core and valence states respectively.Comment: 8 page

From diluted magnetic semiconductors to self-organized nanocolumns of GeMn in Germanium

While achieving high Curie temperatures (above room temperature) in diluted magnetic semiconductors remains a challenge in the case of well controlled homogeneous alloys, several systems characterized by a strongly inhomogeneous incorporation of the magnetic component appear as promising. Incorporation of manganese into germanium drastically alters the growth conditions, and in certain conditions of low temperature Molecular Beam Epitaxy it leads to the formation of well organized nanocolumns of a Mn-rich material, with a crystalline structure in epitaxial relationship with the Mn-poor germanium matrix. A strong interaction between the Mn atoms in these nanocolums is demonstrated by x-ray absorption spectroscopy, giving rise to a ferromagnetic character as observed through magnetometry and x-ray magnetic circular dichroism. Most interesting, intense magneto-transport features are observed on the whole structure, which strongly depend on the magnetic configuration of the nanocolumns.Comment: SPIE Optics & Photonics Symposium, San Diego : \'Etats-Unis d'Am\'erique (2008

Urban health nexus with coronavirus disease 2019 (COVID-19) preparedness and response in Africa:Rapid scoping review of the early evidence

Introduction:Severe acute respiratory syndrome coronavirus 2 also called coronavirus disease 2019 was first reported in the African continent on 14 February 2020 in Egypt. As at 18 December 2020, the continent reported 2,449,754 confirmed cases, 57,817 deaths and 2,073,214 recoveries. Urban cities in Africa have particularly suffered the brunt of coronavirus disease 2019 coupled with criticisms that the response strategies have largely been a ‘one-size-fits-all’ approach. This article reviewed early evidence on urban health nexus with coronavirus disease 2019 preparedness and response in Africa.Methods:A rapid scoping review of empirical and grey literature was done using data sources such as ScienceDirect, GoogleScholar, PubMed, HINARI and official websites of World Health Organization and Africa Centres for Disease Control and Prevention. A total of 26 full articles (empirical studies, reviews and commentaries) were synthesised and analysed qualitatively based on predefined inclusion criteria on publication relevance and quality.Results:Over 70% of the 26 articles reported on coronavirus disease 2019 response strategies across Africa; 27% of the articles reported on preparedness towards coronavirus disease 2019, while 38% reported on urbanisation nexus with coronavirus disease 2019; 40% of the publications were full-text empirical studies, while the remaining 60% were either commentaries, reviews or editorials. It was found that urban cities remain epicentres of coronavirus disease 2019 in Africa. Even though some successes have been recorded in Africa regarding coronavirus disease 2019 fight, the continent’s response strategies were largely found to be a ‘one-size-fits-all’ approach. Consequently, adoption of ‘Western elitist’ mitigating measures for coronavirus disease 2019 containment resulted in excesses and spillover effects on individuals, families and economies in Africa.Conclusion:Africa needs to increase commitment to health systems strengthening through context-specific interventions and prioritisation of pandemic preparedness over response. Likewise, improved economic resilience and proper urban planning will help African countries to respond better to future public health emergencies, as coronavirus disease 2019 cases continue to surge on the continent

Diaspora bonds can help fill climate finance gaps in developing economies

The inability of developing countries to secure adequate climate financing undermines global commitments to reduce carbon levels and prepare for climate change impacts. Can diaspora contributions to home country projects address this challenge? New research shows a willingness among diasporas to support crisis situations using ‘diaspora bonds’ under the right conditions

Microfinance impact on microbusiness development in Africa: evidence from a control group experiment in Ghana

This Chapter applies the control group experiment approach to study whether microfinance improved microbusiness growth in Ghana. According to this approach, statistically significant difference in the outcome between treatment and control groups is an indication of impact of microfinance on microbusiness development. Thus, this chapter compares the mean monthly sales, number of employees, business assets and capital stock of microbusinesses that received microfinance (the treatment group) and the mean monthly sales, number of employees, business assets and capital stock of microbusinesses that did not receive microfinance (the non-treatment group) in seven municipalities identified by various non-governmental organisations as areas of financial exclusion in the Northern Region of Ghana using survey data. Results indicate that microfinance impacted positively on microbusiness development