Dirk Steinwand
The Alchemy of Microfinance
The Evolution of the Indonesian People's Credit Banks (BPR) from 1895 to 1999 and a Contemporary Analysis
Dirk Steinwand
The Alchemy of Microfinance
The Evolution of the Indonesian People's Credit Banks (BPR) from 1895 to 1999 and a Contemporary Analysis
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Whereas microfinance initiatives in most developing countries only started some two decades ago, Indonesia's People's Credit Banks (BPR) have an amazing history of more than 100 years. This book reviews their history from the first failed Dutch trials to replicate the Raiffeisen-Bank model, through times of financial repression as well as times of financial liberalization up to the recent financial crisis of 1997-99. The second part of the book analyses the present performance of the BPR.
Whereas microfinance initiatives in most developing countries only started some two decades ago, Indonesia's People's Credit Banks (BPR) have an amazing history of more than 100 years. This book reviews their history from the first failed Dutch trials to replicate the Raiffeisen-Bank model, through times of financial repression as well as times of financial liberalization up to the recent financial crisis of 1997-99. The second part of the book analyses the present performance of the BPR.
Produktdetails
- Produktdetails
- Akademische Abhandlungen zu den Wirtschaftswissenschaften
- Verlag: VWF
- 2. Aufl.
- Seitenzahl: 367
- Englisch
- Gewicht: 460g
- ISBN-13: 9783897003002
- ISBN-10: 3897003007
- Artikelnr.: 13963638
- Herstellerkennzeichnung Die Herstellerinformationen sind derzeit nicht verfügbar.
- Akademische Abhandlungen zu den Wirtschaftswissenschaften
- Verlag: VWF
- 2. Aufl.
- Seitenzahl: 367
- Englisch
- Gewicht: 460g
- ISBN-13: 9783897003002
- ISBN-10: 3897003007
- Artikelnr.: 13963638
- Herstellerkennzeichnung Die Herstellerinformationen sind derzeit nicht verfügbar.
1;Contents;6
2;List of Tables;10
3;List of Figures;12
4;Inflation Rate 1968 - 2000;13
5;US $ / Rupiah Exchange Rate 1968 - 2000;13
6;I Introduction;14
6.1;Scope and Subject of the Study;14
6.2;Methodological Notes;18
6.3;Notes for the Reader;20
6.4;Clarification of the Term 'BPR';20
7;II The Emergence of Microfinance Institutions A Synoptic Review of Theory;22
7.1;Why did Microfinance Institutions Emerge?;22
7.1.1;The Microenterprise View;22
7.1.2;The Financial System View;24
7.1.3;The Institutional View;28
7.1.4;From 'Why' to 'How';32
7.2;How do Institutions Emerge and Change?;34
7.2.1;The Basic Evolutionary Model;34
7.2.2;Beyond the 'Panglossian World'. The Question of Efficiency;39
7.2.3;Beyond the 'Invisible Hand'. The Role of Government;41
7.2.4;The Role of Ideology;44
8;III The Evolution of the Colonial BPR ( 1895 - 1945);47
8.1;Background: The Fight Against Usury and the Emergence of People's Banks in Europe;47
8.1.1;The Assumptions;47
8.1.2;Jewish Moneylenders and Usury in Europe;48
8.1.3;The Emergence of Banks in Europe;50
8.1.4;The Birth of Microfinance in Europe;52
8.2;The New Ethical Policy and the Fight Against Usury;62
8.3;The Development of the Early Unit Banks;65
8.3.1;The Foundation Story of the First Unit Bank;65
8.3.2;Institutional Development;68
8.3.3;Operational Features;74
8.4;The Development of the Badan Kredit Desa (BKD);85
8.4.1;Lumbung Desa in Java/Madura;85
8.4.2;Bank Desa in Java/Madura;93
8.4.3;The BKD of the Outer Islands;100
8.5;Summary and Conclusions;104
9;IV The Evolution of the BPR from Independence to Financial Sector Reform ( 1945 - 1983);106
9.1;Background;106
9.1.1;The Political Environment;106
9.1.2;Public Administration;108
9.1.3;The Financial Sector;110
9.2;The Unit Banks;114
9.2.1;The Old Order Period;114
9.2.2;The Experience of Bank Pasar Kosgoro;117
9.2.3;The New Order Period;120
9.3;The Badan Kredit Desa (BKD);124
9.4;The Lembaga Dana dan Kredit Pedesaan (LDKP);127
9.4.1;The Bank Karya Produksi Desa (BKPD) and Lembaga Perkreditan Kecamatan ( LPK);128
9.4.2;The Badan Kredit Kecamatan (BKK);132
9.4.3;The Lumbung Pitih Nagari (LPN);136
9.4.4;The Kredit Usaha Rakyat Kecil (KURK);139
9.5;Summary and Conclusions;141
10;V The Evolution of the BPR from Financial Sector Reform to Financial Crisis ( 1983- 1999);144
10.1;Background;144
10.1.1;From Financial Sector Reform...;144
10.1.2;...to Financial Crisis;155
10.2;The BPR Policy;160
10.2.1;Motives for a new BPR Policy;161
10.2.2;BPR Regulations before the Financial Crisis;165
10.2.3;BPR Policy in Response to the Financial Crisis;176
10.3;Excursus: The BRI Unit Desa System;184
10.4;The Unit Banks;189
10.4.1;Quantitative Development;189
10.4.2;Ownership Structure;191
10.5;The Lembaga Dana dan Kredit Pedesaan (LDKP);201
10.5.1;The LDKP of the 1970s;201
10.5.2;The Creation of New LDKP;209
10.5.3;The LDKP and Banking Law No. 7, 1992. Legal Status and Institutional Development;215
10.6;The Badan Kredit Desa (BKD);219
10.6.1;The Decline of the Lumbung Desa;219
10.6.2;The BKD versus Subsidized Financial Institutions.;221
10.6.3;The BKD after Banking Law No. 7, 1992;222
10.7;Summary and Conclusions;224
11;VI A Comparative Analysis of Present Private and Public BPR;227
11.1;Basic Features and Institutional Design;228
11.2;Outreach and Market Share;231
11.2.1;Quantitative Outreach;231
11.2.2;Market Share;232
11.2.3;Market Segments;235
11.3;Funding, Investment, and Profitability;239
11.3.1;Competition for Savings;239
11.3.2;Leverage;246
11.3.3;Income and Expenditure;247
11.4;The BPR and the Commercial Banking Sector;255
11.4.1;Kind of Linkages;255
11.4.2;Flow of Funds;256
11.5;Networking and Supervision;261
11.5.1;Networking;261
11.5.2;Supervision;264
11.6;Geographic Distribution;269
11.7;Business Strategies;273
11.8;Impact of the Financial Crisis;278
11.8.1;Changes in the Interest Rates;279
11.8.2;Changes of Balance Sheet Structures;282
11.8.3;Loan Performan
2;List of Tables;10
3;List of Figures;12
4;Inflation Rate 1968 - 2000;13
5;US $ / Rupiah Exchange Rate 1968 - 2000;13
6;I Introduction;14
6.1;Scope and Subject of the Study;14
6.2;Methodological Notes;18
6.3;Notes for the Reader;20
6.4;Clarification of the Term 'BPR';20
7;II The Emergence of Microfinance Institutions A Synoptic Review of Theory;22
7.1;Why did Microfinance Institutions Emerge?;22
7.1.1;The Microenterprise View;22
7.1.2;The Financial System View;24
7.1.3;The Institutional View;28
7.1.4;From 'Why' to 'How';32
7.2;How do Institutions Emerge and Change?;34
7.2.1;The Basic Evolutionary Model;34
7.2.2;Beyond the 'Panglossian World'. The Question of Efficiency;39
7.2.3;Beyond the 'Invisible Hand'. The Role of Government;41
7.2.4;The Role of Ideology;44
8;III The Evolution of the Colonial BPR ( 1895 - 1945);47
8.1;Background: The Fight Against Usury and the Emergence of People's Banks in Europe;47
8.1.1;The Assumptions;47
8.1.2;Jewish Moneylenders and Usury in Europe;48
8.1.3;The Emergence of Banks in Europe;50
8.1.4;The Birth of Microfinance in Europe;52
8.2;The New Ethical Policy and the Fight Against Usury;62
8.3;The Development of the Early Unit Banks;65
8.3.1;The Foundation Story of the First Unit Bank;65
8.3.2;Institutional Development;68
8.3.3;Operational Features;74
8.4;The Development of the Badan Kredit Desa (BKD);85
8.4.1;Lumbung Desa in Java/Madura;85
8.4.2;Bank Desa in Java/Madura;93
8.4.3;The BKD of the Outer Islands;100
8.5;Summary and Conclusions;104
9;IV The Evolution of the BPR from Independence to Financial Sector Reform ( 1945 - 1983);106
9.1;Background;106
9.1.1;The Political Environment;106
9.1.2;Public Administration;108
9.1.3;The Financial Sector;110
9.2;The Unit Banks;114
9.2.1;The Old Order Period;114
9.2.2;The Experience of Bank Pasar Kosgoro;117
9.2.3;The New Order Period;120
9.3;The Badan Kredit Desa (BKD);124
9.4;The Lembaga Dana dan Kredit Pedesaan (LDKP);127
9.4.1;The Bank Karya Produksi Desa (BKPD) and Lembaga Perkreditan Kecamatan ( LPK);128
9.4.2;The Badan Kredit Kecamatan (BKK);132
9.4.3;The Lumbung Pitih Nagari (LPN);136
9.4.4;The Kredit Usaha Rakyat Kecil (KURK);139
9.5;Summary and Conclusions;141
10;V The Evolution of the BPR from Financial Sector Reform to Financial Crisis ( 1983- 1999);144
10.1;Background;144
10.1.1;From Financial Sector Reform...;144
10.1.2;...to Financial Crisis;155
10.2;The BPR Policy;160
10.2.1;Motives for a new BPR Policy;161
10.2.2;BPR Regulations before the Financial Crisis;165
10.2.3;BPR Policy in Response to the Financial Crisis;176
10.3;Excursus: The BRI Unit Desa System;184
10.4;The Unit Banks;189
10.4.1;Quantitative Development;189
10.4.2;Ownership Structure;191
10.5;The Lembaga Dana dan Kredit Pedesaan (LDKP);201
10.5.1;The LDKP of the 1970s;201
10.5.2;The Creation of New LDKP;209
10.5.3;The LDKP and Banking Law No. 7, 1992. Legal Status and Institutional Development;215
10.6;The Badan Kredit Desa (BKD);219
10.6.1;The Decline of the Lumbung Desa;219
10.6.2;The BKD versus Subsidized Financial Institutions.;221
10.6.3;The BKD after Banking Law No. 7, 1992;222
10.7;Summary and Conclusions;224
11;VI A Comparative Analysis of Present Private and Public BPR;227
11.1;Basic Features and Institutional Design;228
11.2;Outreach and Market Share;231
11.2.1;Quantitative Outreach;231
11.2.2;Market Share;232
11.2.3;Market Segments;235
11.3;Funding, Investment, and Profitability;239
11.3.1;Competition for Savings;239
11.3.2;Leverage;246
11.3.3;Income and Expenditure;247
11.4;The BPR and the Commercial Banking Sector;255
11.4.1;Kind of Linkages;255
11.4.2;Flow of Funds;256
11.5;Networking and Supervision;261
11.5.1;Networking;261
11.5.2;Supervision;264
11.6;Geographic Distribution;269
11.7;Business Strategies;273
11.8;Impact of the Financial Crisis;278
11.8.1;Changes in the Interest Rates;279
11.8.2;Changes of Balance Sheet Structures;282
11.8.3;Loan Performan
1;Contents;6
2;List of Tables;10
3;List of Figures;12
4;Inflation Rate 1968 - 2000;13
5;US $ / Rupiah Exchange Rate 1968 - 2000;13
6;I Introduction;14
6.1;Scope and Subject of the Study;14
6.2;Methodological Notes;18
6.3;Notes for the Reader;20
6.4;Clarification of the Term 'BPR';20
7;II The Emergence of Microfinance Institutions A Synoptic Review of Theory;22
7.1;Why did Microfinance Institutions Emerge?;22
7.1.1;The Microenterprise View;22
7.1.2;The Financial System View;24
7.1.3;The Institutional View;28
7.1.4;From 'Why' to 'How';32
7.2;How do Institutions Emerge and Change?;34
7.2.1;The Basic Evolutionary Model;34
7.2.2;Beyond the 'Panglossian World'. The Question of Efficiency;39
7.2.3;Beyond the 'Invisible Hand'. The Role of Government;41
7.2.4;The Role of Ideology;44
8;III The Evolution of the Colonial BPR ( 1895 - 1945);47
8.1;Background: The Fight Against Usury and the Emergence of People's Banks in Europe;47
8.1.1;The Assumptions;47
8.1.2;Jewish Moneylenders and Usury in Europe;48
8.1.3;The Emergence of Banks in Europe;50
8.1.4;The Birth of Microfinance in Europe;52
8.2;The New Ethical Policy and the Fight Against Usury;62
8.3;The Development of the Early Unit Banks;65
8.3.1;The Foundation Story of the First Unit Bank;65
8.3.2;Institutional Development;68
8.3.3;Operational Features;74
8.4;The Development of the Badan Kredit Desa (BKD);85
8.4.1;Lumbung Desa in Java/Madura;85
8.4.2;Bank Desa in Java/Madura;93
8.4.3;The BKD of the Outer Islands;100
8.5;Summary and Conclusions;104
9;IV The Evolution of the BPR from Independence to Financial Sector Reform ( 1945 - 1983);106
9.1;Background;106
9.1.1;The Political Environment;106
9.1.2;Public Administration;108
9.1.3;The Financial Sector;110
9.2;The Unit Banks;114
9.2.1;The Old Order Period;114
9.2.2;The Experience of Bank Pasar Kosgoro;117
9.2.3;The New Order Period;120
9.3;The Badan Kredit Desa (BKD);124
9.4;The Lembaga Dana dan Kredit Pedesaan (LDKP);127
9.4.1;The Bank Karya Produksi Desa (BKPD) and Lembaga Perkreditan Kecamatan ( LPK);128
9.4.2;The Badan Kredit Kecamatan (BKK);132
9.4.3;The Lumbung Pitih Nagari (LPN);136
9.4.4;The Kredit Usaha Rakyat Kecil (KURK);139
9.5;Summary and Conclusions;141
10;V The Evolution of the BPR from Financial Sector Reform to Financial Crisis ( 1983- 1999);144
10.1;Background;144
10.1.1;From Financial Sector Reform...;144
10.1.2;...to Financial Crisis;155
10.2;The BPR Policy;160
10.2.1;Motives for a new BPR Policy;161
10.2.2;BPR Regulations before the Financial Crisis;165
10.2.3;BPR Policy in Response to the Financial Crisis;176
10.3;Excursus: The BRI Unit Desa System;184
10.4;The Unit Banks;189
10.4.1;Quantitative Development;189
10.4.2;Ownership Structure;191
10.5;The Lembaga Dana dan Kredit Pedesaan (LDKP);201
10.5.1;The LDKP of the 1970s;201
10.5.2;The Creation of New LDKP;209
10.5.3;The LDKP and Banking Law No. 7, 1992. Legal Status and Institutional Development;215
10.6;The Badan Kredit Desa (BKD);219
10.6.1;The Decline of the Lumbung Desa;219
10.6.2;The BKD versus Subsidized Financial Institutions.;221
10.6.3;The BKD after Banking Law No. 7, 1992;222
10.7;Summary and Conclusions;224
11;VI A Comparative Analysis of Present Private and Public BPR;227
11.1;Basic Features and Institutional Design;228
11.2;Outreach and Market Share;231
11.2.1;Quantitative Outreach;231
11.2.2;Market Share;232
11.2.3;Market Segments;235
11.3;Funding, Investment, and Profitability;239
11.3.1;Competition for Savings;239
11.3.2;Leverage;246
11.3.3;Income and Expenditure;247
11.4;The BPR and the Commercial Banking Sector;255
11.4.1;Kind of Linkages;255
11.4.2;Flow of Funds;256
11.5;Networking and Supervision;261
11.5.1;Networking;261
11.5.2;Supervision;264
11.6;Geographic Distribution;269
11.7;Business Strategies;273
11.8;Impact of the Financial Crisis;278
11.8.1;Changes in the Interest Rates;279
11.8.2;Changes of Balance Sheet Structures;282
11.8.3;Loan Performan
2;List of Tables;10
3;List of Figures;12
4;Inflation Rate 1968 - 2000;13
5;US $ / Rupiah Exchange Rate 1968 - 2000;13
6;I Introduction;14
6.1;Scope and Subject of the Study;14
6.2;Methodological Notes;18
6.3;Notes for the Reader;20
6.4;Clarification of the Term 'BPR';20
7;II The Emergence of Microfinance Institutions A Synoptic Review of Theory;22
7.1;Why did Microfinance Institutions Emerge?;22
7.1.1;The Microenterprise View;22
7.1.2;The Financial System View;24
7.1.3;The Institutional View;28
7.1.4;From 'Why' to 'How';32
7.2;How do Institutions Emerge and Change?;34
7.2.1;The Basic Evolutionary Model;34
7.2.2;Beyond the 'Panglossian World'. The Question of Efficiency;39
7.2.3;Beyond the 'Invisible Hand'. The Role of Government;41
7.2.4;The Role of Ideology;44
8;III The Evolution of the Colonial BPR ( 1895 - 1945);47
8.1;Background: The Fight Against Usury and the Emergence of People's Banks in Europe;47
8.1.1;The Assumptions;47
8.1.2;Jewish Moneylenders and Usury in Europe;48
8.1.3;The Emergence of Banks in Europe;50
8.1.4;The Birth of Microfinance in Europe;52
8.2;The New Ethical Policy and the Fight Against Usury;62
8.3;The Development of the Early Unit Banks;65
8.3.1;The Foundation Story of the First Unit Bank;65
8.3.2;Institutional Development;68
8.3.3;Operational Features;74
8.4;The Development of the Badan Kredit Desa (BKD);85
8.4.1;Lumbung Desa in Java/Madura;85
8.4.2;Bank Desa in Java/Madura;93
8.4.3;The BKD of the Outer Islands;100
8.5;Summary and Conclusions;104
9;IV The Evolution of the BPR from Independence to Financial Sector Reform ( 1945 - 1983);106
9.1;Background;106
9.1.1;The Political Environment;106
9.1.2;Public Administration;108
9.1.3;The Financial Sector;110
9.2;The Unit Banks;114
9.2.1;The Old Order Period;114
9.2.2;The Experience of Bank Pasar Kosgoro;117
9.2.3;The New Order Period;120
9.3;The Badan Kredit Desa (BKD);124
9.4;The Lembaga Dana dan Kredit Pedesaan (LDKP);127
9.4.1;The Bank Karya Produksi Desa (BKPD) and Lembaga Perkreditan Kecamatan ( LPK);128
9.4.2;The Badan Kredit Kecamatan (BKK);132
9.4.3;The Lumbung Pitih Nagari (LPN);136
9.4.4;The Kredit Usaha Rakyat Kecil (KURK);139
9.5;Summary and Conclusions;141
10;V The Evolution of the BPR from Financial Sector Reform to Financial Crisis ( 1983- 1999);144
10.1;Background;144
10.1.1;From Financial Sector Reform...;144
10.1.2;...to Financial Crisis;155
10.2;The BPR Policy;160
10.2.1;Motives for a new BPR Policy;161
10.2.2;BPR Regulations before the Financial Crisis;165
10.2.3;BPR Policy in Response to the Financial Crisis;176
10.3;Excursus: The BRI Unit Desa System;184
10.4;The Unit Banks;189
10.4.1;Quantitative Development;189
10.4.2;Ownership Structure;191
10.5;The Lembaga Dana dan Kredit Pedesaan (LDKP);201
10.5.1;The LDKP of the 1970s;201
10.5.2;The Creation of New LDKP;209
10.5.3;The LDKP and Banking Law No. 7, 1992. Legal Status and Institutional Development;215
10.6;The Badan Kredit Desa (BKD);219
10.6.1;The Decline of the Lumbung Desa;219
10.6.2;The BKD versus Subsidized Financial Institutions.;221
10.6.3;The BKD after Banking Law No. 7, 1992;222
10.7;Summary and Conclusions;224
11;VI A Comparative Analysis of Present Private and Public BPR;227
11.1;Basic Features and Institutional Design;228
11.2;Outreach and Market Share;231
11.2.1;Quantitative Outreach;231
11.2.2;Market Share;232
11.2.3;Market Segments;235
11.3;Funding, Investment, and Profitability;239
11.3.1;Competition for Savings;239
11.3.2;Leverage;246
11.3.3;Income and Expenditure;247
11.4;The BPR and the Commercial Banking Sector;255
11.4.1;Kind of Linkages;255
11.4.2;Flow of Funds;256
11.5;Networking and Supervision;261
11.5.1;Networking;261
11.5.2;Supervision;264
11.6;Geographic Distribution;269
11.7;Business Strategies;273
11.8;Impact of the Financial Crisis;278
11.8.1;Changes in the Interest Rates;279
11.8.2;Changes of Balance Sheet Structures;282
11.8.3;Loan Performan