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Research purpose: Food security remains a major component of economic development. Many developing nations are facing challenges of food insecurity, which had contributed to starvation and other societal problems. With adequate food intake, human healthy living is assured. This study investigates the impact of access to formal finance and indigenous technology and knowledge on food security in Ondo central senatorial district in Ondo state, Nigeria.Methodology: In total, 216 farmers were sampled, and data were collected through a well-structured questionnaire and focus interviews. Data collected were analysed using descriptive statistics and logit estimation technique.Findings: Descriptive statistics show that there are more male farmers (61.1%) than female counterparts (38.9%), with most of the farmers (42.7%) in their ages 56 years and above and with 51.9% having primary education. Majority of the farmers (65.7%) engage in arable crop farming, while 15.2 and 19.1% engage in cash crop and livestock farming, respectively. The econometric model reveals that age, income, gender, education, marital status, religion, family size, assets owned and distance are major determinants of a farmer’s decision on account ownership, savings and borrowing. Indigenous knowledge of soil fertility, disease-resistant and quickly-growing crops, food storage, local weather, water management, pest and diseases control are significant determinants of food security in Ondo central senatorial district. Likewise, account ownership, savings and borrowing from formal financial institutions are significant determinants of food security.Practical implications: It is, therefore, important that efforts to ease access to formal financial services and improve indigenous technology to serve as complement to modern farming techniques to achieve food security be made a priority by government and private institutions.

The private sector is the engine of economic growth, stimulating entrepreneurship and innovation and promoting competition and productivity. While many countries in Africa have developed private sector-driven growth strategies, private investment as a proportion of gross domestic product (GDP) is only 13 percent in Africa, significantly lower than in other regions, such as South Asia, with many low-income countries. The public sector still occupies the lion's share of economic activity in Africa. This study addresses how industrial clusters could be a springboard for the development of Africa's micro and small enterprise sector, which constitutes the bulk of the region's indigenous private sector. The successful development of industrial clusters in Asia illustrates how small enterprises can help to drive growth led by market expansion at home and abroad.

Countries everywhere are divided into two distinct spatial realms: one urban, one rural. Classic models of development predict faster growth in the urban sector, causing rapid migration from rural areas to cities, lifting average incomes in both places. The process continues until the marginal productivity of labor is equalized across the two realms. The pattern of rising urbanization accompanying economic growth has become one of the most visible and self-evident empirical facts of development across the world, with almost 200,000 people making the rural-to-urban trek every day, according to the United Nations. Cities across the world are powering growth, development, and modernization. The study then takes a close look at Diepsloot, a large township in the Johannesburg Metropolitan Area, to bring out more vividly the economic realities and choices of township residents. Although atypical in many ways, by the virtue of being newer, poorer, and more informal, with a bigger concentration of migrants (many of them foreign nationals), than the historically established townships, Diepsloot also retains many of the economic characteristics of South African townships: Issues of joblessness, uneven access to basic public services, and overwhelming levels of crime and violence are almost as pervasive in Diepsloot as they are in other T&IS. At the same time, an emergent informal sector more visibly pervades the township than seen in the average township, which makes it a particularly useful place to study in order to develop an understanding of the kinds of economic activities that are feasible in townships. It focuses particularly on the nature of business activity in the township, the key investment-climate constraints faced by its firms, income and expenditure patterns across households, and some aggregative social and human indicators. In a first attempt of its kind for a township, the report also develops a Social Accounting Matrix (SAM) of Diepsloot for a comprehensive and consistent picture of the place, including the circular flow of income within the township, the nature of its interaction with the rest of the South African economy, and a simple multiplier analysis of its economy.

Although access to financing in Pakistan is expanding quickly, it is two to four times lower than regional benchmarks. Half of Pakistani adults, mostly women, do not engage with the financial system at all, and only 14 percent have access to formal services. Credit for small- and medium-size enterprises is rationed by the financial system. The formal microfinance sector reaches less than 2 percent of the poor, as opposed to more than 25 percent in neighboring countries. Yet it is the micro- and small businesses, along with remittances, that help families escape the poverty trap and participate in the economy. 'Bringing Finance to Pakistan's Poor' is based on a pioneering and comprehensive survey and dataset that measures the access to financial products by Pakistani households. The survey included 10,305 households in all areas of the country, excluding the tribal regions. The accompanying CD contains summary statistics. The authors develop a picture of access to and usage of financial services across the country and across different population groups, and they identify policy and regulatory priorities. Reform measures in Pakistan have been timely, but alone are not enough; financial institutions have lagged behind in adopting technology, segmenting customer bases, diversifying products, and simplifying processes and procedures. Gender bias and low levels of financial literacy remain barriers, as is geographical remoteness. However, the single strongest cause of low financial access is lack of income—not location, education, or even gender. 'Bringing Finance to Pakistan's Poor' will be of great interest to readers working in the areas of business and finance, economic policy, gender and rural development, and microfinance.

This report is part of a broader effort by the World Bank Group to understand the motives and challenges of small entrepreneurs in fragile and conflict-affected situations (FCS). The report's key finding is that, compared to entrepreneurs elsewhere, entrepreneurs in FCS have different characteristics, face significantly different challenges, and thus may be subject to different incentives and have different motives. Therefore, it is recommended that both the current analytical approach and the operational strategy of the World Bank be informed by the findings that follow. The report summarizes findings of recent World Bank Enterprise Surveys (ES) conducted across Sub-Saharan Africa (SSA), Asia, and the Eastern Europe and Central Asia (ECA) Region as well as Doing Business indicators and additional World Bank Group studies and field observations. The report finds that the majority of entrepreneurs in FCS countries are small, informal, and concentrated in the trade/services sectors. According to the ES, and after controlling for the level of development (that is, GDP per capita): 1) the average FCS firm in SSA and the ECA Region produces less output than non-FCS firms; 2) the average FCS firm in ECA is by 20 percent less likely to innovate (that is, to introduce/upgrade new products and services) than its non-FCS counterpart; and 3) FCS firms start smaller and grow significantly more slowly, or even shrink (in the number of employees) over time, compared to non-FCS firms in the Regions analyzed. The report also highlights the differences in sector and business environment characteristics between FCS and non-FCS business environments.

This study investigates the effects of paying bribes on access to credit for small and medium enterprises (SMEs). Bribery is variously portrayed, in the literature, as greasing the wheel (helping) or sand in the wheel (impeding) applications for credit. Studies supporting both perspectives leave the issue unresolved, encouraging further analysis, using reliable data and robust analytic methods. An examination of The World Bank Enterprise Surveys of SME data for India, using an instrumental variable probit model, provides a more definitive answer. SME bribery is detrimental to accessing credit and more so for firms that have been in business for many years and operating on a small scale. Involvement of supply and demand side forces increases the need for multiple control variables. From a supply side perspective, high corruption increases difficulties for financial institutions to control borrower risk and recover loans. Accordingly, financial institutions reduce their lending to SMEs, which mostly belong to a high-risk category. Unlike large firms, SMEs paying bribes to grease the wheel are drawn to the informal sector, avoiding attention from officials. Where SMEs pay bribes in the formal sector, it is noticed and likely to increase the probability that other parties will also demand payments. The demand side argument regards bribes as tax, increasing loan costs to SMEs. Consequently, making significant bribes decreases SMEs’ profitability. Less profitable SMEs may not obtain access to credit. From a policy perspective, anti-corruption measures, in emerging and low-income economies, are vital for developing SMEs and stimulating significant welfare gains.

Unlock the transformative power of microfinance for global poverty reduction.This insightful title explores how to build inclusive financial systems that empower the poor and drive economic growth in developing countries.Drawing on a decade of CGAP experience, it offers a comprehensive framework for expanding access to financial services for all.

How does mobile broadband internet affect approval of government? Using surveys of 840,537 individuals from 2,232 subnational regions in 116 countries in 2008-2017 from the Gallup World Poll and the global expansion of third generation (3G) mobile networks, we show that an increase in mobile broadband internet access reduces government approval. This effect is present only when the internet is not censored and is stronger when traditional media is censored. This effect is reversed in the few countries with the lowest corruption. 3G helps expose actual corruption in government: revelations of the Panama Papers and corruption incidents translate into higher perceptions of corruption in regions covered by 3G networks. The disillusionment of voters in governments had electoral implications: In Europe, the expansion of mobile broadband internet led to a decrease in the vote shares of incumbent parties and an increase in the vote shares of the antiestablishment populist opposition. The vote shares of the nonpopulist opposition were unaffected by the expansion of 3G networks.

This paper examines the impact of political connections on credit access for small businesses and microenterprises (SBME) in India, utilizing data from the India Human Development Survey. While such connections can facilitate overcoming challenges like high transaction costs and incomplete credit markets, they may also impede equitable credit access. This study analyzes how political connections influence the loan amounts secured by households for business purposes in both rural and urban settings. It further dissects the broader impact of political connections, revealing their nuanced effects in relation to the nature of loan and income sources. Consequently, this research offers valuable insights for policymakers and practitioners, suggesting strategies that provide fair financial opportunities to ensure a level playing field for all SBMEs. Plain English Summary Empirical research shows political ties lead to inequitable loan opportunities for Indian small businesses. This research investigates the impact of political connections on securing loans for small businesses and microenterprises (SBMEs) in India. It finds that businesses with such ties are more likely to secure larger loans, creating an uneven playing field. It highlights the challenges in the credit markets of developing countries and emphasizes the importance of distributing loans equitably. The study calls for policies that ensure equal financial access for all SBMEs, promoting a balanced approach to overcome the complexities of political influence in credit access. It advocates for a fair and inclusive economic environment, supporting equitable growth and opportunity for all SBMEs.

Entrepreneurs worldwide often face obstacles in financing their businesses, hindering their ability to grow. Government procurement offers an opportunity to access lucrative contracts and benefit from a procurement auditing process that could enhance access to finance. Likewise, externally audited financial statements can enhance credibility and lessen financing hurdles. We examine whether government procurement contracts and external audit certifications jointly influence financing access and whether ownership, size, and firm age matter. We find that access to finance is more likely to be an obstacle to the operations of small- and medium-sized enterprises (SMEs) with government procurement contracts than those without such contracts, regardless of whether they seek external audit certification. Additionally, the effect of external audit certification on the likelihood of access to finance being an obstacle to SME operations reduces sharply with foreign ownership, size, and age for SMEs involved in government procurement. We also find that the impact of government procurement contracts reverses for SMEs in low- and lower-middle-income countries. Our findings have policy implications, especially with the growing implementation of affirmative action programs to promote the involvement of SMEs in government procurement. Plain English Summary Obstacles to financing inhibit the growth of small- and medium-sized enterprises globally. SMEs must weigh the cost and benefits of seeking government procurement contracts to improve their cash flows and engaging external auditors to certify their financial statements. Our results show that SMEs with access to government procurement contracts are less likely to cite access to finance as an obstacle to their operations, but only in low- and lower-middle-income countries. External audit certification does not influence access to financing for SMEs. The principal implication of this study is that the opportunity for SMEs to access the public procurement system in developing countries reduces financing obstacles and thereby helps to facilitate growth.