Financial Safety Nets Research Articles

Financial Safety Nets or Rescue Fantasies? A Moderating View of the Relationship between Usage of Alternative Financial Services and Financial Anxiety among College Students

Financial Safety Nets or Rescue Fantasies? A Moderating View of the Relationship between Usage of Alternative Financial Services and Financial Anxiety among College Students

Why do people sell their kidneys? A thematic synthesis of qualitative evidence.

Globally, demands for the kidneys have surpassed supply both living and deceased donors. High demands relative to the availability have made the kidney one of the most saleable human organs. The main objective was to explore the drivers of kidney selling. Literature related to kidney selling and its drivers was explored in three databases including MEDLINE (PubMed), Scopus (Elsevier), and JSTOR covering the period from 1987 to 2022. A total of 15 articles were selected, which underwent thematic analysis. Investigators independently assessed the articles for relevance and study quality to synthesize the data. The thematic analysis involved a critical approach to understanding the reasons for kidney selling by examining power disparities and social inequities. Kidney selling and the underlying reasons for it showed similarities across various geographic regions. Several factors were identified which increased individuals' vulnerability for kidney selling. At the micro level, poverty and illiteracy emerged as significant factors. Lack of financial safety nets obliged family to resort to kidney selling which helped to alleviate poverty, resolve debt, and other urgent financial issues. Nonetheless, the revenues from kidney selling were also used to purchase luxury items (diverting away from investing in livelihood expenses) such as buying motorbikes, mobile phones and televisions. Family, and gender responsibilities also played roles in kidney selling such as obligations related to paying dowry made parents particularly vulnerable. Surprisingly, a few victims of kidney selling later adopted kidney brokering role to support their livelihood. Kidney selling was further fostered by lack of stringent policy to regulate and monitor background checks for kidney transplantation. There were myriad factors that affected individual's vulnerability to kidney selling which stemmed from micro (poverty, illiteracy), meso (weak legal system, lacking stringent institutional policy, regulatory framework) and macro (social inequalities, corruption, organ shortage, insufficient health infrastructure) levels.

Fronts and Friends: Social Contingencies in the Management of Drug Debt

ABSTRACT Illicit drug markets have long been associated with violence as a mode of regulating market behavior, especially regarding debts linked to drug purchase. While a growing literature examines violent and nonviolent modes of ensuring repayment by dealers and lenders, little research has focused on strategies of buyers and borrowers in navigating drug debt. Drawing on interviews with 75 people who use drugs within a materially disadvantaged neighborhood, we explore experiences in managing debt to dealers and within social networks adjacent to drug markets. Findings describe complex strategies to protect reputation, foster relationships with dealers, and employ cooperative, assertive, or coercive tactics to negotiate credit arrangements that sustain and stabilize the drug market while mitigating violent retaliation for unpaid debt. Findings also elucidate informal credit arrangements within social networks, identifying reciprocity and self-control as constitutive of social capital within friendship groups that serve as financial and social safety nets. This research considers socially embedded, boundedly rational decisions of marginalized drug market actors, highlighting diverse financial management practices among structurally vulnerable borrowers that serve economic and social goals while seeking to mitigate the risk of violence.

Beyond the Immediate Effects of COVID-19: Exploring the Consequences of the Pandemic on the Southern NGO Partners of Dutch INGOs

ABSTRACT Covid-19 has a significant impact on societies and individuals but also on organizations. Using a survey and focus group discussions, this article examines (perceptions of) Covid-19’s impact on the Southern NGO partners of Dutch INGOs in the context of international development. The analysis explores how Covid-19 has affected Southern NGOs’ (SNGOs) organizational capacity and relations with donors. This article finds that Covid-19 has had substantial and largely negative consequences on SNGOs’ financial situation, staffing, and activities. Furthermore, the findings suggest that Covid-19 contributed (at least temporarily) to more equal relations between Southern NGOs and donors. The results emphasize the need for donors, including INGOs, to offer financial safety nets to ensure that SNGOs remain operational when crises hit and the need for both sides to keep up the momentum to shift the power relation.

The contribution of the Stephenson Company, engine manufacturers to the genesis of the British railway industry c.1823-1840

The paper investigates the Stephenson Company’s contribution to genesis of the railway industry by exploring its business model in its formative years. The Company capitalised on a well-developed business and technological infrastructure in the North-east of England that provided the building blocks for the creation of a new industry. It gained from its linkages with two social networks which provided it with a financial safety-net during the locomotive development phase and the mechanical expertise it required: the closed Quaker network and the regional network of colliery and mechanical engineers. Whilst bridging between and across these social networks facilitated the Company’s development, it was not central to its strategic decision-making. This was shaped by the externalities of market conditions, which the Com­pany sought to influence by producing a viable product that would convince customers of its utility, and investors of the potential gains to be had through investing in railway construction.

Attitudes and perceptions toward the COVID-19 risk-mitigation strategies among racially and ethnically diverse older adults in the United States and Puerto Rico: a qualitative study

ABSTRACT Objectives There is limited qualitative research investigating how risk-mitigation strategies during the COVID-19 pandemic impacted the lives of diverse older adults, who met criteria for mild to severe generalized anxiety or depression and minor to moderate disability. This study aims to address this gap by examining how racially and ethnically diverse older adults with at least mild mental health symptoms and minor physical disability in the United States and Puerto Rico adapted to guidelines during COVID-19. It aims to inform the medical community and policymakers of potential threats to these older adults’ well-being given the COVID-19 burden. Design Based on descriptive qualitative inquiry and phenomenological perspectives, we conducted semi-structured interviews over the phone with a racially and ethnically diverse sample of older (age 60+), predominantly minoritized adults (N = 100) in four states and territories across the United States and Puerto Rico in 2021. Interviews were recorded, coded, and analyzed using a thematic analysis approach. Results Findings centered on five themes: (1) Previous experiences with the healthcare system and cultural beliefs related to trust and distrust led to mixed attitudes toward COVID-19 risk-mitigation strategies; (2) Compliance with COVID-19 mitigation strategies ensured safety and addressed fear of illness; (3) Compliance led to isolation due to interrupted social relations; (4) Isolation and disrupted social networks negatively impacted mental health and finances, and (5) Coping strategies and embracing support reduced the effects of social isolation. Conclusion This study underscores the importance of increasing support and social connectedness during a pandemic and beyond to ensure the well-being of older adults in racially and ethnically diverse communities. It highlights the resiliency of older adults in identifying strategies to cope with negative impacts. We recommend safeguarding economic security through policy efforts toward financial safety nets during health crises and collaborative approaches with community-based organizations to mitigate social isolation.

What matters most? A qualitative study exploring priorities for supportive interventions for people with tuberculosis in urban Viet Nam

IntroductionThe health and economic burden of tuberculosis (TB) in urban Viet Nam is high. Social protection and support interventions can improve treatment outcomes and reduce costs. However, evidence regarding optimal...

Do customer knowledge and customer trust in IDIC affect bank customer retention? Evidence from Indonesia

Purpose — The primary focus of this research was to examine the impact of customer knowledge and customer trust in Indonesia Deposit Insurance Corporation (IDIC) on the retention of bank customers in Indonesia.Method — The study employed a cross-sectional design and quantitative survey study. Questionnaires were distributed randomly to respondents via social media. 141 respondents from bank customers in Indonesia have been analyzed. Hypothesis testing is done by multiple linear regression analysis with structural equation modeling and SmartPLS as a statistical tool.Result — The results show that the average bank customer in Indonesia has sufficient knowledge about the role, function, task, and performance of IDIC. However, knowledge needs to be improved because some customers do not understand it well. The results provide empirical evidence that customer knowledge and customer trust in IDIC have positive influence on bank customer retention.Contribution — There is a new concept with the integration of two theories that will benefit future research. The findings contribute to addressing research gaps that have inconsistent results. The findings also contribute to improving customer knowledge and customer trust as a solution to the impact of the COVID-19 pandemic and the global financial crisis. This study supports the G20 in strengthening financial safety nets, where multilateral development banks are encouraged to strengthen their financing systems to face global economic challenges.

Deposit insurance system, risk-adjusted premium and bank systemic risk: Evidence from China

In this paper, we investigate whether and how the Deposit Insurance (DI) system and its Risk-adjusted Premium (RAP) scheme affect the systemic risk of Chinese banks. Based on bank-level panel data from 2007 to 2020 and the difference-in-differences (DID) method, we find that the establishment of the explicit DI system in China increases bank systemic risk, while the implementation of RAP alleviates this negative impact by reducing systemic risk. We further find the mechanism behind this phenomenon that bank profit acts as a mediator. We also find evidence for international heterogeneity using cross-country data and show that, as China has a longstanding implicit government guarantee, the establishment of explicit DI actually reduces the extent to which banks are protected, thus increasing bank systemic risk. Our study highlights the specificity of Chinese DI system, offers important policy implications for the design of financial safety nets in China and worldwide.

Regulatory Regime Governing Deposit Insurance under the Ethiopian Law: A Comparative Review in Light of International Core Principles’ Perspectives

Adopting deposit insurance has become an increasingly custom to ensure the stability of banking systems and protect bank depositors from incurring large losses due to bank failures. Almost in all jurisdictions there are financial safety nets in place to guarantee the safety of the banking system and its depositors. It also inspires trust in the system and safeguards against any shocks. It has got a global recognition which has got the status of international core principles of deposit insurance. Unlike its previous trend, Ethiopia is recently taking significant measures to liberalize the previously state owned service sector. In September 2022, the Ethiopian council of ministers have approved the long awaited act the national financial policy that allows foreign banks to engage in banking business in Ethiopia. This measure is very significant as it marks a breakthrough in the opening of the door for foreign banking investment in Ethiopia. It was revealed in many studies that countries which undergone a finance liberalization have encountered a financial crisis. In most of the states, explicit deposit insurance has been adopted after they have encountered a banking crisis. Unlike these states, Ethiopia has not yet experienced any events of bank failure. However, the country has enacted a regulation that governs the Establishment and Operation of Ethiopian Deposit Insurance Fund ahead of banking liberalization to foreign banks. Hence, this step can be quantified as a wise approach measure that has drawn lessons from other states’ failure. In this paper, a modest attempt is made to comparatively review the Ethiopian deposit insurance regulation in light of the international core principles that serve as standard for harmonization. The Ethiopian deposit insurance legislation stepped miles to accommodate most of the core principles of the IADA and BCBS. The law governs deposit insurance by explicitly separate legislation in addition to the prudent legislation provided for regulating the financial sector. Most of the contents of the legislation comply with core principles of DI. However, there are also loopholes and vagueness in governing specific issues of deposit insurance that should require reconsideration in the subsequent legislation.

Securing government assistance for temporary migrants during the COVID-19 crisis: analysing the role of policy narratives

ABSTRACT In response to the COVID-19 pandemic, many governments implemented social distancing requirements, lockdowns and stay-at-home orders. These caused unprecedented disruptions, especially in industries that often rely heavily on the labour of temporary migrants. As a result, temporary migrants were particularly disadvantaged by measures to safeguard population health. We critically scrutinise government policies related to temporary migrants in Australia during the pandemic. The Australian Government provided financial safety nets to individuals and families who were citizens and permanent residents, while deliberately excluding temporary migrants from such support. In contrast, efforts were made at the state level to compensate for this hardship. We trace how the Victorian Government ultimately came to provide financial support for temporary migrants. The case highlights how the interests of precarious members of society can go from being ignored to receiving the attention necessary to produce a policy change to meet their needs. With its emphasis on the role policy narratives play in shaping outcomes for temporary migrants, the analytical approach utilised here could inform future studies of migrant treatment in other contexts as well as studies focusing on other vulnerable and politically marginalised members of society.

Child Mental Health and Sleep Disturbances During the Early Months of the COVID-19 Pandemic in the United States.

Many children have experienced unprecedented levels of stress as a result of the COVID-19 pandemic due to school closures, strained resources, and excess morbidity and mortality. The current study examines change in children's mental health and sleep during the early months of the US pandemic and identifies risk and protective factors. In May 2020, a total of 225 parents reported on the mental health and sleep of each child (N = 392 children) living in their household prior to the onset of the COVID-19 pandemic and about their functioning in the past month. McNemar's test examined change in mental health and sleep disturbance across developmental stage. Bivariate and multivariate generalized estimating equations examined predictors of change in mental health and sleep. Each age group showed a significant change in mental health and sleep outcomes, but the development of mental health problems was greater for older children. Parental caregiving strain (adjusted odds ratio [aOR] = 2.42; 95% confidence interval [CI], 1.11-5.27) was identified as a risk factor associated with children developing anxiety, and income loss was associated with developing sleep disturbances (aOR = 2.34; 95% CI, 1.06-5.17). Parental receipt of emotional support was identified as a protective factor for all child health outcomes. Policies and interventions that promote access to mental health services, provide financial safety nets, and strengthen social support networks for families are needed.

The Village Savings and Loans Association pathway – feminist solidarity groups leverage COVID-19 to have their voices heard

abstract This article profiles the Village Savings and Loans Association (VSLA) model as a platform and foundation for women to raise their voices and collectively advocate for change. It examines how women in Benin, Côte d’Ivoire, Mali, Niger, and Nigeria leveraged feminist solidarity through VSLAs to advocate for, support, and establish women’s leadership in crisis. CARE, working hand in hand with rural women in Niger, gave birth to the VSLA model in 1991 to serve as a model for women’s empowerment, public participation, and gender transformation. VSLAs have served as a powerful launch pad for individual and collective feminist advocacy. At a foundational level, members of VSLAs benefit from improved livelihoods and social and financial safety nets in times of distress. From a community perspective, VSLAs ignite feminist solidarity which has sparked collective action such as the building of schools, holding of local government officials to account, and influencing leaders to change the practice of early marriage and devaluing of girls’ education. In 2020, during the global COVID-19 pandemic, VSLA women-led solidarity groups became a tool of effective action for expanded leadership and feminist political advocacy. This collective feminist advocacy was motivated by a leadership void created by the pandemic and a lack of policies that actively and effectively safeguarded women. This article examines the power of this collective voice and advocacy. It further examines the lessons that can be learned from the transformation of VSLAs as a source of social safety nets and economic power to a catalyst for collective voice and feminist advocacy.

Financial Toxicity Related to Advanced Cancer Patients’ Care: Case study of Selected Households of Kiambu County, Kenya

Purpose : The aim of this study is to investigate family caregiver’s experiences on household financial burden related to cancer treatment/care following referral to a palliative care unit in Kenya. Methodology: Case study approach was used to collect data from caregivers of advanced cancer patients following referral to a palliative care unit at Kijabe Mission Hospital in Kenya. This approach is best suited to gain insight into economic implication of the rising cost of cancer treatment which has put a considerable financial strain on affected families, leading to adverse outcomes of caring for patients with advanced cancer. Semi-structured in-depth interviews, documentary data and field notes, observations were used to collect information relating to financial and economic impact of the careburden experiences from theoretical sample of 12 caregivers. This approach enabled an in-depth, multifaceted explorations of complex issues related to in their real-world contexts. The case study method was particularly chosen because of its richness to gain an in-depth understanding of an issue, event, or phenomenon of interest in its natural real-life context. A socio-technical coding matrix was used to analyze qualitative data thematically, along with additional themes that emerged from the data. All ethical considerations were observed accordingly. Findings – Four (4) male and eight (8) female caregivers interviewed were between 18 to 67 years. The study reports families facing enormous financial strain and difficulties treating their patient with advanced cancer patient. Treating patient with advanced cancer is reported to drain resources threatening to bring vicious cycle of poverty and financial stability. Family members get frustrated at their inability to meet growing demands related to care, treatment and management of their patient in advanced stage of cancer. Financial concerns, catastrophic health expenditure (CHE) and distress financing (DF as part of devastating effects of cancer, limited health insurance coverage and gaps in financing are among the key concerns identified. Unique contributions to theory, practice and policy : This study builds evidence towards social and conomic consequences of treating advanced cancer diseases that affect household families and impact on life of patients with advanced cares. Hence, seeks to shape how multidisciplinary cancer care teams’ practices to become more aware of the costs of their clinical decisions. Findings of this study also form basis of review of already existing policies related to insurance coverage provided by state agency to tailor it to chronic diseases. Further research is required to mitigate financial toxicity and additional financial safety nets Key words : financial burden, cancer, economics, Kenya DOI: 10.7176/JHMN/101-06 Publication date: June 30 th 2022

Colombia: Financial Sector Assessment Program-Technical Note-Crisis Management, Resolution, and Safety Nets

"Volume 2022 (2022): Issue 159 (Jun 2022): Colombia: Financial Sector Assessment Program-Technical Note-Crisis Management, Resolution, and Safety Nets" published on 03 Jun 2022 by International Monetary Fund.

South Africa: Financial Sector Assessment Program-Technical Note on Financial Safety Net and Crisis Management

This Technical Note sets out the findings and recommendations of the Financial Sector Assessment Program (FSAP) for South Africa on financial safety net and crisis-management arrangements. It primarily focuses on the arrangements for early intervention, recovery, resolution, and financial safety nets for banks in South Africa. To a lesser extent, the note also addresses issues relating to recovery and resolution applicable to insurers and Financial Market Infrastructure (FMI).

Protecting environmental defenders to prevent pandemics

Protecting environmental defenders to prevent pandemics

Beliefs about Staying Home: Findings from a Nationally Representative Probability Sample of U.S. Adults in the Early Days of the COVID-19 Epidemic

Understanding the beliefs about staying home is essential to inform stay-at-home policies to mitigate COVID-19 and future epidemics. This study (1) identified the salient advantages, disadvantages, and facilitating beliefs about staying home, and (2) examined the relationship between these beliefs and intention. U.S. adults from a nationally representative probability-based household panel completed an online reasoned action approach belief elicitation from April 10-20, 2020, about one month after stay-at-home guidelines were implemented. First, we conducted an inductive content analysis to reveal salient beliefs about staying home. We identified eight advantages, 12 disadvantages, and 12 facilitators that broadly spanned across health domains: individual, population, interpersonal, occupational, financial, and leisure health. Then, we conducted three regression analyses, one for each of the three sets of beliefs, predicting intention to stay home for the next month from worker status and belief mentioned. In these regression analyses, four advantages, four disadvantages, and four facilitators made independent contributions to explaining intention. The breadth of the elicited beliefs suggests that COVID-19 is perceived to have impacted many dimensions of our lives, and that interventions need to be just as broad. Communication and educational interventions could help people understand the benefits of staying home to themselves, to their families, and to the wider community. Programs that keep essential supplies available could help people stay home. Structural interventions with financial safety nets and policies that help people stay employed during an epidemic might address people’s concerns about the impact of staying home on their financial and occupational health.

Recreating Financial Literacy of Private Secondary School Teachers

The study examined the personal financial activities of private secondary school teachers in selected municipalities of the 4th congressional district of Quezon in the Philippines. A descriptive quantitative research design, cluster sampling, and a researcher-made survey questionnaire collected online were all used in the study. Data focused on the financial knowledge, financial behavior, and financial attitude of the respondents. It employed both descriptive and inferential statistical methods. The theories of human capital, self-efficacy, goal-setting, and the financial literacy modelled this study. The majority of respondents are female-married, young professionals teaching either English or Social Sciences holding a permanent position as Teacher I with less than five years of service. An increase in saving found an association in the field of specialization. A weak positive association exists between basic good financial practices and the building of financial safety nets. Data from a survey showed that significant number of respondents are vulnerable to financial distress. Moderation of financial practices and literacy is an indication of poor financial management. Data attest the need to take steps and intervene through financial training and education to recreate the existing method of treating resources.

INTEGRATING CASHEW (ANACARDIUM OCCIDENTALE) WITH FOOD CROPS: PERCEPTIONS OF FARMERS AT AMOMA, IN THE KINTAMPO SOUTH DISTRICT OF THE BONO EAST REGION OF GHANA

Income maximization from cashew products and proper utilization of resources has significantly evolved in Amoma, as a result of cashew diversification with food crops. The aim of the study was to assess the perceptions of farmers on integrating cashew with food crops. The study aimed to identify the type of food crops intercropped with cashew, as well as reasons and its associated challenges. A total of 83 respondents were purposively sampled from four communities (Asesase, Kukuroase, Tutuoase and Afapemu). The results indicated that all farmers had knowledge on food crops integration with cashew. Amongst the food crops cultivated with cashew include yam, maize, cassava and groundnut. Reasons stated for integration of food crops include weed control, subsistence use and also financial safety nets. Farmers’ major challenge was financial and also weeds control on their farm. The study concluded that yam was the commonest intercrop of cashew followed maize. Key challenges encountered by farmers were weed invasion and inadequate disposable cash for maintenance practices, such pruning and weeding. In pursuit of achieving the Sustainable Development Goals 1 (No Poverty) and 2 (Zero Hunger), the study recommends that farmers be trained on proper food crop integration methods at Amoma to boost yield, financial stability and enhance living conditions.