Nghiên cứu về các yếu tố ảnh hưởng đến khả năng tiếp cận tín dụng vi mô tại Việt Nam

Luận văn thạc sĩ nghiên cứu determinants of accessibility to microcredit in term of formal sector and informal sector, khảo sát thực trạng, phân tích nguyên nhân, đề xuất giải

• Tác giả: Tran Thi Ngoc Anh Mai
• Người hướng dẫn: Dr. Cao Hao Thi
• Trường học: University of Economics, Ho Chi Minh City
• Chuyên ngành: Development Economics
• Đề tài: Determinants of Accessibility to Microcredit
• Loại tài liệu: Thesis
• Năm xuất bản: 2014
• Địa điểm: Ho Chi Minh City

Mục lục chi tiết

• 1. CHAPTER 1: INTRODUCTION
• 1.1. Problem statement
• 1.2. Research objective
• 1.3. Research questions
• 1.4. Research Structure
• 2. CHAPTER 2: LITERATURE REVIEW
• 2.1. Concept of credit
• 2.2. Theory of demand for credit
• 2.3. Credit rationing theory
• 3. CHAPTER 3: OVERVIEW OF MICROFINANCE SYSTEM
• 3.1. The history of Microfinance
• 3.2. The role of government in microfinance
• 3.3. Overview of credit market in Vietnam
• 3.3.1. The formal credit market
• 3.3.2. The semi-formal credit market
• 3.3.3. The informal credit market
• 4. CHAPTER 4: RESEARCH METHODOLOGY
• 4.1. Data Analysis Method
• 5. CHAPTER 5: RESULTS AND DISCUSSION
• 5.1. Estimation of determinants of microcredit participation
• 5.2. Estimation of conditional marginal effects

Tóm tắt

I. Tổng quan về yếu tố ảnh hưởng đến tiếp cận tín dụng vi mô

Tín dụng vi mô đã trở thành một công cụ quan trọng trong việc giảm nghèo và cải thiện đời sống cho các hộ gia đình có thu nhập thấp. Nghiên cứu này sẽ phân tích các yếu tố ảnh hưởng đến khả năng tiếp cận tín dụng vi mô, từ đó giúp hiểu rõ hơn về cơ chế hoạt động của thị trường tín dụng tại Việt Nam.

1.1. Khái niệm tín dụng vi mô và vai trò của nó

Tín dụng vi mô là hình thức cho vay nhỏ nhằm hỗ trợ các hộ gia đình nghèo có khả năng tự tạo thu nhập. Nó không chỉ giúp cải thiện đời sống mà còn thúc đẩy phát triển kinh tế địa phương.

1.2. Tình hình tiếp cận tín dụng vi mô tại Việt Nam

Việt Nam đã có nhiều chương trình tín dụng vi mô nhằm hỗ trợ người nghèo. Tuy nhiên, vẫn còn nhiều rào cản trong việc tiếp cận nguồn vốn này, đặc biệt là ở khu vực nông thôn.

II. Các thách thức trong việc tiếp cận tín dụng vi mô

Mặc dù tín dụng vi mô mang lại nhiều lợi ích, nhưng vẫn tồn tại nhiều thách thức cản trở người nghèo tiếp cận nguồn vốn. Những thách thức này cần được nhận diện và giải quyết để nâng cao hiệu quả của các chương trình tín dụng vi mô.

2.1. Rào cản về thông tin và kiến thức tài chính

Nhiều hộ gia đình không có đủ thông tin về các chương trình tín dụng vi mô, dẫn đến việc họ không biết cách tiếp cận hoặc sử dụng nguồn vốn một cách hiệu quả.

2.2. Khó khăn trong việc cung cấp tài sản thế chấp

Nhiều hộ gia đình không có tài sản thế chấp để đảm bảo cho khoản vay, điều này làm giảm khả năng tiếp cận tín dụng từ các tổ chức tài chính chính thức.

III. Phương pháp cải thiện tiếp cận tín dụng vi mô hiệu quả

Để nâng cao khả năng tiếp cận tín dụng vi mô, cần có những phương pháp và giải pháp cụ thể. Các giải pháp này không chỉ giúp người nghèo tiếp cận nguồn vốn mà còn đảm bảo tính bền vững của các chương trình tín dụng.

3.1. Tăng cường giáo dục tài chính cho người dân

Giáo dục tài chính sẽ giúp người dân hiểu rõ hơn về tín dụng vi mô, từ đó nâng cao khả năng tiếp cận và sử dụng nguồn vốn một cách hiệu quả.

3.2. Phát triển các sản phẩm tín dụng linh hoạt

Các tổ chức tài chính cần phát triển các sản phẩm tín dụng phù hợp với nhu cầu và khả năng của người nghèo, giúp họ dễ dàng tiếp cận hơn.

IV. Ứng dụng thực tiễn và kết quả nghiên cứu về tín dụng vi mô

Nghiên cứu đã chỉ ra rằng có nhiều yếu tố ảnh hưởng đến khả năng tiếp cận tín dụng vi mô, từ đó đưa ra những khuyến nghị cho các chính sách và chương trình hỗ trợ.

4.1. Kết quả từ nghiên cứu thực địa

Nghiên cứu cho thấy rằng các yếu tố như độ tuổi, giới tính, và trình độ học vấn có ảnh hưởng lớn đến khả năng tiếp cận tín dụng vi mô của hộ gia đình.

4.2. Các chính sách hỗ trợ cần thiết

Cần có các chính sách hỗ trợ từ chính phủ nhằm tạo điều kiện thuận lợi cho người nghèo tiếp cận tín dụng vi mô, bao gồm cả việc giảm lãi suất và tăng cường giám sát.

V. Kết luận và triển vọng tương lai của tín dụng vi mô

Tín dụng vi mô có tiềm năng lớn trong việc giảm nghèo và cải thiện đời sống cho người dân. Tuy nhiên, cần có những nỗ lực liên tục để khắc phục các rào cản và nâng cao hiệu quả của các chương trình tín dụng.

5.1. Tương lai của tín dụng vi mô tại Việt Nam

Với sự phát triển của công nghệ và các mô hình kinh doanh mới, tín dụng vi mô có thể trở thành một công cụ mạnh mẽ hơn trong việc hỗ trợ người nghèo.

5.2. Khuyến nghị cho các nhà hoạch định chính sách

Các nhà hoạch định chính sách cần xem xét các yếu tố ảnh hưởng đến tín dụng vi mô và đưa ra các giải pháp phù hợp để nâng cao khả năng tiếp cận cho người nghèo.

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UNIVERSITY OF ECONOMICS, HO CHI MINH CITY VIET NAM – NETHERLANDS PROGRAMME FOR M. PROGRAM IN DEVELOPMENT ECONOMICS DETERMINANTS OF ACCESSIBILITY TO MICROCREDIT IN TERMS OF FORMAL SECTOR AND INFORMAL SECTOR ----------o0o--------- TRAN THI NGOC ANH MAI Academic Supervisor: DR. CAO HAO THI Dec – 2014 TIEU LUAN MOI download : [e-mail] ABSTRACT Microcredit is an emerging concept helping the poor out of poverty situation. This dissertation attempts to investigate the determinants affecting the probability of participation in different types of credit sectors in terms of formal sector and informal sector. Using a sample size of 1,522 households participate in credit market from The Vietnam Access to Resources Household Survey (VARHS) 2012, bivariate probit model is employed to explore the determinants of household credit demand due to the binary nature of the dependent variables. Various explanatory variables include age, gender, marital_stt, edu, hhsize, income, savingamount, landsize, agriculture_act, network and location that influence probability of accessibility to different sectors of credit. Furthermore, relationship between dependent variables is accounted in this research. Results reveal that factors affecting formal credit participation are different from factors affecting informal credit participation. Additionally, the result indicates that there is negative correlation across two sectors of credit. TIEU LUAN MOI download : [e-mail] ACKNOWLEDGEMENT I would like to express my deepest thankfulness to my advisor, Dr. Cao Hao Thi who spent lots of his precious time to support and guide me throughout this research and continuously led me to the right way. I would also like to extend my appreciation to the teachers working on Vietnam Netherlands programme who gave great lectures and invaluable knowledge for us to complete the course. I am grateful to my parents and my siblings that always encourage and support me in my study and in every aspect of life. I also want to express my gratitude to my friends for sharing with me the difficulties and giving me the ideas, knowledge and materials for the study and for all the time we were at Master in Development Economics 19. TIEU LUAN MOI download : [e-mail] LIST OF FIGURES Figure 2.1 Probability of success and expected returns to borrowers .2 Return to the bank .1 Microfinance Systems in Vietnam .1 Process of research .2 Participation in credit sector . 33 LIST OF TABLES Table 2.1 Definition of Variables.1 Microfinance Institutions in Vietnam .2 Comparison between formal and informal lenders .1 Summary of Participation in different credit sectors .2 Conditional and Unconditional Credit Participation Probabilities .1 Determinants of accessibility to formal and informal credit sector .2 Marginal effects for conditional probability of formal sector participation .3 Marginal effects for conditional probability of informal sector participation . 46 TIEU LUAN MOI download : [e-mail] TABLE OF CONTENTS CHAPTER 1: INTRODUCTION . 4 CHAPTER 2: LITERATURE REVIEW . Concept of credit . Theory of demand for credit . Credit rationing theory . Determinants of participation in microcredit programs . 11 CHAPTER 3: OVERVIEW OF MICROFINANCE SYSTEM. The history of Microfinance . The role of government in microfinance: . Overview of credit market in Vietnam . The formal credit market. The semi-formal credit market: . The informal credit market . 26 CHAPTER 4: RESEARCH METHODOLOGY .3 Data Analysis Method . 35 CHAPTER 5: RESULTS AND DISCUSSION . Estimation of determinants of microcredit participation . Estimation of conditional marginal effects. 57 TIEU LUAN MOI download : [e-mail] CHAPTER 1: INTRODUCTION 1. Problem statement There are about 1.22 billion people (21 percent of population) in the world living on less than $1. Focusing towards poverty reduction and finding ways to improve living condition have taken a lot of attention of public policies in the world. The rate of poverty in Vietnam decreases remarkably in recent years. According to annual report shown by GSO, the poverty rate declined from 15.5 percent in 2006, to 13.4 percent in 2008, to 10. In a report of GSO in 2010, it also revealed that poverty level in rural area (13.2 percent) is much higher compared to that in urban area (5. How to distribute the benefits of economics growth, especially to rural area is one of the challenges remained. Therefore, rural economy deserves more attention and support to reduce inequality between rural and urban area. According to McCarty (2001) and Pham & Lensink (2002), lack of ability to obtain the fund for the purpose of working capital and investment is one of the reasons among other things that lead to poverty in developing countries. Providing a channel to ease the credit constraints for the poor rural household is the primary object in poverty alleviation strategy of developing countries, including Vietnam. Farmers need an instrument such as credit to enhance productivity and promote standard of standard of living because of their seasonal activities and uncertainty they are facing (Ololade & Ologunju, 2013). Accessing to microcredit is recognized as a potentially effective tool out of under poverty line situation and improve living standards (ADB, 2000a; Morduch and Haley, 2002; Khandker, 2003). Agricultural credit plays an important role in sustainable achievement in any country in the world Microfinance industry has been known in many decades in developing countries, and its role was further attended with rapid growth worldwide when Mohammad Yunus who pioneered the principle of microfinance and microcredit 1 TIEU LUAN MOI download : [e-mail] received Nobel Peace prize in 2006 (Tra Pham and Robert Lensink, 2007). And a variety of previous researches demonstrated the position of microfinance in poverty reduction by focusing on the effect on household welfare. The demand for rural credit has increased sharply due to the decollectivization of agriculture launched in Vietnam in the year 1986. Hence, the spread of microfinance with amendment of regulations on banking operation in Vietnam plays an important component in fighting again poverty over the last decades. Vietnam has introduced several of microcredit programs via a lot of channels such as banks, credit funds, money lenders and advance input providers to supply credit for a variety of clients. Despite the importance of credit to the poor, the poor family that lacks ability to access to adequate financial service leads to the fact that they do not have prospects for increasing their productivity and living standard. And the fact that commercial banks have no interest in allocating credit to the poor because of their lack of viable collateral. Because of these reasons, governments in developing countries have set up credit programs that aim at improving the process of rural household access to formal credit during the past four decades (Diagne, 1999). However, the lending mechanisms as well as the nature of the credit market which are highly regulated by government intervention such as controls of interest rates and credit quota allocation do not function well. Similarly, Robinson (2001) and Gonzalez Vega (2003) also indicated that most of microfinance institutions have been not sustainable in developing countries. Credit subsidized interest rate provided by “Agricultural development banks” which established by commercial banks to extend credit to rural household not considered creditworthy. However, majority of these credit programs have failed to reach their targets both to be sustainable credit providers and serve the poor (Adams, Graham, and von Pischke 1984; Adams and Vogel 1986; Braverman and Guasch 1986). Risk management and transaction costs associated with Asymmetric information are the most problematic features facing by lenders and borrowers (Pham & Lensinnk, 2 TIEU LUAN MOI download : skknchat@gmail. It is also well know that different forms of credit market serve different group of borrowers, it is difficult for large number of poor households to access to credit sources. Households often face limited access to credit because of rationing of credit demand that leads to the poor and low income households are generally excluded from the formal credit sector (Stiglitz & Weiss, 1981). In fact that formal provider, semi-formal provider and informal provider exist side by side in Vietnamese financial market. To deal the level of information asymmetry between borrowers and different lenders, many government microcredit programs are accompanied by the local Peoples Committees in terms of lending process to assist microcredit market operation. In respect of this, narrowing gaps in term of whom it serves and the service it provides, improving the efficiency and effectiveness of microfinance system is the main challenge of policy makers as well as program organizers. With data collected from The Vietnam Access to Resources Household Survey 2012 (VARHS) which supplements and extends the VHLSS (Vietnam household Living Standards Survey) by repeating surveys of the same household with data from VHLSS and asking more questions about income, expenses, land, agriculture, asset, investment, migration, climate change, social welfare and so on; VARHS received assistance from University of Copenhagen, CIEM, ILSSA (Institute For Labor Science and Social Affair), and IPSARD (Institute of Policy and Strategy for Agricultural and Rural Development), econometrics techniques are employed in this research to explore the factors that affect access to credit in terms of formal credit and informal credit. Research objective The objective of this thesis is to empirically investigate the determinants that influence on the probability of household accessing to different types of credit 3 TIEU LUAN MOI download : [e-mail] sectors as well as the relationship between formal credit participation and informal credit participation at the same time. Additionally, marginal effects of each independent variable on the choice of credit source are also shown in this research. Research questions This research is to answer two central questions: What are determinants affecting the probability of household accessing to different types of credit sector? Is there any evidence of a correlation between participating in formal credit and participating in informal credit at the same time? 1. Research Structure This dissertation is organized as follows. In chapter one, problem statement and objectives of this research are presented. Chapter two provides concepts related to this research, discusses theory for demand credit and credit rationing theory and introduces explanatory variables. Chapter three presents the history of microfinance as well as the role of government in microfinance. It also provides insight into the structure of credit market in Vietnam. Chapter four presents research structure, data description and methodology method used in this research. Chapter five gives empirical models and the estimated results. Finally, conclusion, policy suggestions and limitations are highlighted in chapter six. 4 TIEU LUAN MOI download : [e-mail] CHAPTER 2: LITERATURE REVIEW This chapter presents the overview of theory and discusses previous studies relate to the research topic. The first part mentions about microcredit regarding concept of credit. The second part discusses about theory for demand credit and credit rationing theory. The last part discusses about the determinants affecting credit accessibility. Concept of credit There are several and various definitions regarding the word credit as follows: Credits are referred as loans which permit consuming in the present, in exchange for an agreement to make repayment at sometimes in the future (Pischie et al. Obtaining credit was considered as the process of controlling over the use of money, goods and services based upon a promise to repay at a future day (Adegeye & Dittoh, 1985). Ololade & Ologunju (2013) defined credit as a mean for temporary transfer of assets to individuals or organizations that has not them from individuals or organizations that has. This process required evidences of debt obligation in return for a loan, in the case of transaction between friends or relative which based on good relationship excluded. Microcredit which is a component of microfinance provides small loan to the poor for self –employment. That generates income, helping them care for themselves and their family (The Microcredit Summit, 1997). To raise income level and improve living standard of semi-urban and urban areas are considered as targets of microcredit by providing of thrift, credit, other financial services and products of every small amount to the rural household (Reserve Bank of India- Master Circular, 2011). 5 TIEU LUAN MOI download : [e-mail] The definition of Microfinance differs from person to person, but microfinance can be defined as small assistance to low-income individuals (CGAP).