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2018 | Book

Access to Justice in Microfinance

An Analytical Framework for Peru

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About this book

This book analyzes the whole path to justice: from the decision to enter the path to justice until justice is achieved and applies a mixed-methods approach using quantitative and qualitative data. It deliberately takes the consumer’s perspective and, beyond the scope of existing studies, does not only take into account the existence of mechanisms and forums to claim justice, but their appropriateness for vulnerable target groups. The book sheds more light on microfinance and other vulnerable clients who, due to existing barriers, cannot access grievance, redress or complaint mechanisms. Eliminating these access barriers would cater to the achievement of the 16th Sustainable Development Goal by increasing vulnerable consumers’ Access to Justice. This book will be of interest to academics researching access to justice, researchers focusing on consumer protection issues in developing countries, and practitioners working in financial inclusion.

Table of Contents

Frontmatter
Chapter 1. Introduction
Abstract
In this chapter, Yasmin introduces the research problem and its background. This is followed by a presentation of this study’s research objectives, the resulting research question and its significance.
Yasmin Olteanu
Chapter 2. Theoretical Concepts
Abstract
In this chapter, Yasmin gives an overview of the theoretical concepts this study is built on. It first presents the concept of Access to Justice and links it to the one of poverty alleviation. Subsequently, the relevance of Access to Justice for the efficiency of markets is introduced followed by a description of possible market failures which can produce welfare costs. The chapter then presents the concept of consumer vulnerability followed by a more specific look at vulnerable consumers in financial markets. Lastly, an overview of the most relevant theoretical approaches to consumer complaining behavior (CCB) is given.
Yasmin Olteanu
Chapter 3. Literature Survey
Abstract
In this chapter, Yasmin first gives an overview of the existing analytical frameworks for the Access to Justice. Subsequently, relevant research results on the topic are presented. The role of this chapter is to lay a base for the analytical framework which is developed in Chapter 5: The framework builds on the existing analytical frameworks, and where testable hypotheses are needed, they are derived from the results of previous research.
Yasmin Olteanu
Chapter 4. Methodology and Data
Abstract
In this chapter, Yasmin introduces to the methodologies and methods which have been defined as the most appropriate ones to answer the research question of this study. The philosophical and methodological considerations consequently result in the selection of a mixed-methods approach implemented as a single case study on Peru. The chapter clearly outlines the approach, implementation and encountered challenges of the data collection, analysis and integration of the 432 questionnaires and 18 interviews conducted. Lastly, the data is presented in a more comprehensive way in order to lay a solid base for the analysis in Chapter 7.
Yasmin Olteanu
Chapter 5. Development of the Analytical Framework
Abstract
Yasmin combines elements of the introduced analytical frameworks to an analytical framework deemed most suitable to evaluate the Access to Justice of vulnerable consumers. This analytical framework is developed in two stages: First, the levels of analysis are defined and explained. One of these levels of analysis, the micro one, is then carefully operationalized resulting in testable hypotheses. This operationalization is based on the results of the previous relevant research presented in Chapter 3.
Yasmin Olteanu
Chapter 6. The Context: Peru
Abstract
This chapter sets the stage and hence gives the necessary background and contextual knowledge for the analysis which follows in Chapter 7. Yasmin accordingly first introduces the reader to Peru and the respective target groups of microfinance institutions. She subsequently describes the historical development of microfinance in the region and the country before giving a detailed portrayal of today’s microfinance sector. The chapter continues with a description of Peru’s current state of financial inclusion and ends with an overview of its approaches to financial consumer protection.
Yasmin Olteanu
Chapter 7. Application of the Analytical Framework
Abstract
Yasmin in this chapter takes the Analytical Framework to Evaluate the Access to Justice of Vulnerable Consumers and applies it to the case of Peru. The chapter starts with an analysis of the macro level, comprising the sector-independent environment and forums, followed by an assessment of the meso level, which encompasses the sector-specific setting and options a justice-seeker encounters. The analysis of these two levels hence results in a clear grasp of the potential steps the justice-seeker can take and the respective enabling and hindering factors. The subsequent analysis of the micro level adds important additional insight by capturing those factors which are relevant to the dissatisfied vulnerable financial consumer’s decision to enter the Path to Justice in the first place.
Yasmin Olteanu
Chapter 8. Discussion of the Findings
Abstract
The 14 access barriers identified in Chapter 7 are in this chapter linked up with their respective previous empirical findings introduced in Chapter 3. When applicable, they are also integrated into Hirschman’s framework of Exit, Voice and Loyalty and Cartwright’s five dimensions of vulnerability of financial consumers. Ultimately, Yasmin connects them to the sources of market failure presented in Chapter 2, by doing this allowing an original contribution to knowledge.
Yasmin Olteanu
Chapter 9. Conclusion and Policy Recommendations
Abstract
In this chapter, Yasmin sums up the main conclusions of this study, followed by the presentation of the resulting original contribution to knowledge. The limitations of the developed analytical framework and the specific findings for Peru are clearly pointed out. The chapter ends with 22 concrete policy recommendations and suggests a variety of areas for further research.
Yasmin Olteanu
Backmatter
Metadata
Title
Access to Justice in Microfinance
Author
Yasmin Olteanu
Copyright Year
2018
Electronic ISBN
978-3-319-95324-3
Print ISBN
978-3-319-95323-6
DOI
https://doi.org/10.1007/978-3-319-95324-3

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