• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.7
• /
• pp.109-121
• /
• 2022

The study aims to examine the interaction of formal and informal institutions for strengthening economic development, particularly entrepreneurship growth. The research will also assess the impact of control variables on political index within the formal and informal markets. The research is quantitative, which analyses panel data of 6 years in 22 countries comprising middle and high-income countries with diversified and unique political, economic, and social systems. The findings suggested that reducing the entry regulation and promoting the social capital within the formal and informal institutions would grow formal and informal entrepreneurship and be a greater source for new venture creation. Moreover, the political index, a control variable, was found significant in the relationship of institutional mix with formal and informal entrepreneurship. Entry regulations in formal and informal institutions are a complex phenomenon in the entrepreneurship literature, moderated by the political development index as tested by the current study. The time horizon for this paper is much longer since it analyzes 6 years (2014-2019) of data on 22 developing and developed countries to see the entrepreneurial growth across multiple regions on different income levels, geographic conditions, and contrasting political and social systems.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.11
• /
• pp.97-106
• /
• 2021

The condition of financial services in Indonesia is unique, based on various characteristics, behaviors, and preferences. Therefore, the study of finance and banking is interesting to study as a recommendation for government policies. This paper aims to analyze the barriers to accessing formal financial services in Indonesia and why informal financial services are preferred. This paper presents a case study of financial inclusion in selected provinces in Indonesia using the SOFIA dataset from the Ministry of National Development Planning. Overall, this data consists of 20,000 individuals from 4 provinces and 93 regions representing the population in eastern Indonesia. The analysis was carried out by processing individual-level cross-sectional data surveyed in 2017 using the probit binary logistic method. The results identify the individual barriers in accessing formal financial services, including account ownership, saving, and credit activities in the formal financial institutions, and amplify the image by analyzing what determinants affect people to choose informal institutions. We found that some individual characteristics such as age, gender, education, income, employment status, residence, and access to technology significantly affect the barrier to formal financial services in East Indonesia.

• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.6
• /
• pp.33-44
• /
• 2022

Women entrepreneurs play a vital role in employment creation, economic development, and growth. Women entrepreneurship is deep-rooted in the social and cultural norms and values of society. Women's entrepreneurship contribution is still invisible and needs to be properly investigated. The current research study explores "how institutions affect women's entrepreneurial performance in Pakistan" by using institutional and social cognitive theories. Focusing on the Formal and informal institutions, this research examines how institutions are affecting women's entrepreneurial performance by taking the mediating role of women's entrepreneurial self-efficacy and ethical decision making. A 7-point Likert scale research questionnaire is used to collect primary data. Data on active entrepreneurs are collected from the Peshawar, Mardan, and Abbottabad divisions of KPK's Women Chambers of Commerce. The data is empirically tested through the path analysis technique of structural equation modeling (SEM) through SMART PLS 3. The results indicated that women's entrepreneurial self-efficacy and ethical decision-making strongly mediate both institutions and significantly affect women's entrepreneurial performance. The study suggests that government and concerned departments should pay due attention to determinants like informal institutions and social constraints to boost women's entrepreneurial performance.

• Asian Journal of Business Environment
• /
• v.3 no.1
• /
• pp.5-16
• /
• 2013

Purpose - Micro-finance institutions (MFIs) are critical to Vietnam's quest for poverty alleviation among the poor in the rural and agrarian communities. The current study attempts to investigate the impact of microfinance outreach programs undertaken by formal and semi-formal MFIs in Vietnam targeting the poor rural and agrarian communities. Research design, data, methodology - An enquiry was made as to whether the poor and rural communities accessed the micro credit offered by Government supported MFIs and NGOs through their microfinance outreach programs. Furthermore, the current study attempted to explore if the current mode of operations adopted by MFIs in Vietnam is sustainable. Results -The findings indicate that significant progress has been made in Vietnam to alleviate poverty among the poor rural communities through micro finance outreach programs. Conclusions - There are also pointers of MFIs sustainability in Vietnam. However, it still remains to be seen if the current sustainability pointers are long lasting without government subsidies or some international organizations financial support to microfinance outreach programs.

• Korean Journal of Social Welfare
• /
• v.62 no.3
• /
• pp.141-162
• /
• 2010

This paper tries to provide empirical support for a formal model of social policy development which has been presented in a former paper of this study. In the direct democracy, median voter's social policy preference is critical because he is Condorcet winner in a pair-wise pure majority voting. But, in the more general setting, we should think of various political institutions as a collective choice device. For this reason, I draw a formal model which formulates three contrasting types of political institutions which are distinguished by the developments of political democracy and the differences of electoral rules. Comparative patterns of key variables which measure political institutions, social policy developments, and social policy preference provide support for my arguments. My empirical results suggest that three political institutions are associated with very different policy outcomes. Compared to other institutions, committee system entails more targeted subsidy, less universal benefit. On the contrary, proportional elections produce more universal benefit, less targeted subsidy.

• Journal of Fisheries and Marine Sciences Education
• /
• v.16 no.2
• /
• pp.199-209
• /
• 2004

The main purpose of this study is to explore a social capital paradigm which can be applied to many forms of social capital and intangible goods. The social capital paradigm introduces a new form of capital. This new form of capital produces a flow of socio-emotional goods that have value. Moreover, these socio-emotional goods can attach themselves to the objects used to convey them and change their value and meaning. This change in value and meaning is defined as attachment values. Exchanges of socio-emotional goods occur in networks where social capital resides. Formal and informal institutions provide order and meaning to exchanges of tangible and intangible goods. Social capital is a powerful resource that makes our choices interdependent. The social capital paradigm does not alter or contradict the basic economic theories of exchange. While the social capital paradigm accepts that selfish preferences motive many actions, it adds that sympathy and the desire to consume socio-emotional goods are powerful motivators. In case of marine affairs, ocean and fishing villages and their culture have been not only a fundamental basis of fisheries development but they also have made a great deal of contribution to forming social capital. In spite of this fact, the main reason that the problems of fisheries fishing villages fishermen in our society are kept at a distance is because they have been loosing their capability of forming social capital and producing socio-emotional goods, in addition to lowered relative economic share.

• Asian Journal of Innovation and Policy
• /
• v.6 no.1
• /
• pp.1-22
• /
• 2017

The essence of inclusive innovation is to serve poor, marginalized and underprivileged sections of society to improve their livelihoods and enable them to climb up the socio-economic ladder. In this article, we explore the contemporary Indian landscape. There is a diversity of institutions and institutional approaches, multiple methodologies and goals in promoting inclusive innovations in this landscape. There are grassroots innovation institutions. All these institutions and groups have demonstrated how to improve the living conditions of poor people and enhance their income. They have developed different methodologies of inclusive innovation to intervene, build capacities and capabilities of poor people towards bridging informal and formal sectors of economy. Indian landscape can now boast of some successful models and a "social laboratory" for inclusive innovation. The challenge, however, remains to replicate and multiply these models to impact other sectors of Indian informal economy.

• Journal of Agricultural Extension & Community Development
• /
• v.17 no.2
• /
• pp.327-346
• /
• 2010

This study was carried out to investigate the status and development direction of horse riding industry for rural development of Korea. Library research and field survey were conducted to collect relevant data such as number of horse and size of horse farms, facilities for horse riding and educational institutions for youths and farmers and the results obtained were as follows : Only a few institutions among high schools, colleges and universities were observed to deliver horse riding programs. For farmers, no equestrian specialist was available in agricultural extension offices. Horse meat is consumed mostly in Jeju Island in Korea. Relevant institutions should be also strengthened including formal and nonformal education for horse riding and much more schools and universities should adopt horse riding program for the training of youths and farmers. Considering the obesity problem, the nutritional composition of horse meat is better than those of pork or beef, so promotion of horse meat consumption also should be strengthened.

• Journal of architectural history
• /
• v.8 no.2 s.19
• /
• pp.73-85
• /
• 1999

An analysis of the courses from American architectural institutions during the period of $1890^{\sim}1950$ reveals an emergence of a distinction between a purely architectural and an architectural engineering discipline. A reflection of the economic growth, industrialization and urbanization of a nation; the education of the American architect during that period assumed a professional character. In contrast to European technical institutions which concentrate on the engineering aspects of architecture, American institutions developed a more comprehensive, design oriented curriculum within the framework of the American university system. The establishment of a system of formal education for architects and architectural engineers, replacing the tradition of apprenticeship, made it possible to train future professionals according to their ideals. But the objectives, contents and products of these curricula took on divergent characteristics from institution to institution. The growth of legal regulations( ie. ACSA, NAAB, NCARB, ASEE, etc.) governing the registration of architects and engineers, emphasized the legitimate concern within the profession to determine an acceptable standard of professional education. Such regulatory standards influenced the transition of architectural engineering education in institutions including the case of MIT. As a result, the ambivalence in architectural engineering programs found specific resolution in programs, such as architectural engineering, building engineering, construction or civil engineering.

• Asian Journal of Innovation and Policy
• /
• v.4 no.2
• /
• pp.132-153
• /
• 2015

Rural enterprise clusters in India have often been characterized by low-end products, poor income earning options and a near-absence of innovativeness. This has implied limited market access, inadequate organization of production and distancing from sources of formal knowledge. Policy neglect of rural industrialization notwithstanding this paper explores the nature of institutional constraints to innovation through intensive case studies of five rural artisan clusters (handlooms and handicrafts) in as many Indian states. Whether it relates to access to loan finance or technology support or linking to markets, the formal institutions (public or private) have been distanced by informality that typifies most rural enterprise clusters. An obsession with a sectoral approach to cluster development has negated addressing infirmities of the space of enterprise, even as scope for learning from some Asian economies in rural enterprise promotion exists. The paper also enquires if the innovation systems have been inclusive and pro-poor.