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VIETNAM NATIONAL UNIVERSITY, HANOI VIETNAM JAPAN UNIVERSITY NGUYEN HAI LONG AN ANALYSIS OF FACTORS AFFECTING THE RESULTS OF THE VIETNAM BANK FOR SOCIAL POLICIES (VBSP) MICROCREDIT USE BY POOR HOUSEHOLDS: THE CASE OF SOC SON DISTRICT MAJOR: PUBLIC POLICY CODE: PILOT MASTER’S THESIS Hanoi, 2019 Hanoi, 2019 i LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com VIETNAM NATIONAL UNIVERSITY, HANOI VIETNAM JAPAN UNIVERSITY NGUYEN HAI LONG AN ANALYSIS OF FACTORS AFFECTING THE RESULTS OF THE VIETNAM BANK FOR SOCIAL POLICIES (VBSP) MICROCREDIT USE BY POOR HOUSEHOLDS: THE CASE OF SOC SON DISTRICT MAJOR: PUBLIC POLICY CODE: PILOT RESEARCH SUPERVISOR: Prof Dr HIROICHI KAWASHIMA Dr BUI HAI THIEM Hanoi, 2019 i LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Abstract Poverty has always been an obstacle for countries to achieve sustainable development goals Microcredit has been recognized as one of the most effective tools to alleviate poverty However, after the initial success, the effectiveness of microcredit now are widely debated Many studies have shown that the use of such loan has some issues For instance, the use of microfinance loan normally lies in small-scale agricultural production, which is risky and unsecured In other words, the use of the loan may not create sustainable result and may be affected by many factors, both internal and external This study investigates the factors that affected the usage of the microcredit loan and the result of this study may detect the important factors that can be improved to alleviate poverty The study will use a quantitative approach with the analysis conducted with SPSS and the data collected from Soc Son District and VBSP Soc Son On the other hand, the author also used in-depth interview with both the bank’s officers and poor borrowers in order take a closer look on the matter To conclude, the author will suggest some recommendations for VBSP and local government to improve the usage of the loan i LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Acknowledgement No one can achieve anything without the help of others This thesis could not be completed without priceless assistances of many people I would like to express my gratitude to all of them First of all, I sincerely express my gratefulness to my two supervisors Professor Hiroichi Kawashima and Dr Bui Hai Thiem for their instructions and time to consult me on my thesis With profound knowledge and experience, they helped me improving my research Without their instructions, the thesis would be undone Secondly, I want to express my gratefulness to all the professors, JICA members in Vietnam Japan University, professor Sharma, and Dr Linh who conveyed to me numerous courses and knowledge With the provided knowledge from them, I am confident that I can contribute something to develop my beloved country I will keep in mind all the memories that we had during my time at Vietnam Japan University Lastly, I want to express my gratefulness to VBSP Soc Son that provided me the data, accesses to the poor households for my internship and research, I hope VBSP Soc Son will achieve more success in the future to support poor households and the society In addition, I am so thankful with the help of my family, they looked after and provided me supports during this intensive time Sincerely 9th May 2019 Nguyen Hai Long iii LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Table of Contents Acknowledgement ii Table of Contents iii List of Table v List of Figure vi List of Abbreviations vii Chapter 1: Introduction 1.1 Research Background 1.2 Problem Statement 1.3 Overview of Microcredit Loan for the Poor 1.4 Research Objective 1.5 Significance 1.6 Research Question 1.7 Research Limitation 1.8 Thesis Structure Chapter 2: Literature Review 2.1 The definition of Microcredit iii LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com 2.2 The Principles of Microcredit Scheme 10 2.2.1 The social and economic Principle 10 2.2.2 The impact of microcredit on the community 12 2.2.3 The factors affect the result of microcredit loan 14 Chapter 3: Material and Methodology 17 3.1 Research Site 17 3.2 Thesis Method Design 18 3.3 In-depth interview plan 20 3.4 The Quantitative model 22 3.5 Information Collection Paper Design 26 Chapter 4: The analysis and findings 27 4.1 Current situation in Soc Son district 27 4.2 Overview of VBSP 27 4.3 In-depth interview findings 28 4.3.1 The structure of VBSP Soc Son 28 4.3.2 The process of borrowing VBSP’s microcredit loan 30 4.3.3 The command of the Central Bank 32 4.3.4 Encouragement of borowers to focus on the business effectiveness to repay the loan 35 4.3.5 Difficulties borrowers often face when doing their business 36 iii LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com 4.4 The Analysis of the Poverty Alleviation result of the loan 38 4.4.1 General information of the survey 38 4.4.2 The Findings 44 Chapter 5: Conclusion and Recommendations 47 5.1 Conclusion 47 5.2 Recommendations 47 5.2.1 Increase advices, instructions, supports and supervision for the use of the microcredit loan 47 5.2.2 Provision of knowledge and techniques for poor borrowers 48 5.2.3 Increase public investment on key infrastructure 48 5.2.4 Increase the loan’s amount limit 49 Reference 50 Annexs 55 iv LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com List of Table ………………………………………………… ………………… Page Table 3.1 The In-depth Interview Plan……………………… ……………… 20 Table 3.2: Overview of the model’s variables………………………………… 24 Table 4.1 Total outstanding loan lended to the poor households……………… 33 Table 4.2: Bad Debt Ratio of VBSP Soc Son from 2016-1018………………… 33 Table 4.3: Measurement of Bad Debt Ratio…………………………………… 34 Table 4.4: Bad Debt Ratio of VBSP Soc Son……………………………………34 Table 4.5: Model Summary…………………………………………………… 40 Table 4.6: Omnibus Tests of Model Coefficients…………………………….….40 Table 4.7: Variables in the Equation…………………………………………… 41 Table 4.8: Classification Table………………………………………………… 43 v LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com List of Figure ………………………………………………… ……….………………….Page Figure 2.1: The principle of microfinance initiative…………………… … 11 Figure 3.1: The research framework……………… ……………………… 19 Figure 4.1: The structure of VBSP Soc Son……………… ……………… 28 Figure 4.2: The process of borrowing the loan……………………………… 30 vi LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com List of Abbreviations ADB Asian Development Bank IMC International Micro-Finance Mission SBV State Bank of Vietnam VBSP Vietnam Bank for Social Policies VND Vietnam Dong (Currency) WB World Bank LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com borrowers have one additional year of education, they may have 79.3 percent of escaping poverty This result proved that the educational level indeed helps the borrowers to get a better chance of escaping poverty It is certain that if the borrowers get more years of education, they will get broader knowledge and wider view than others, the higher the educational level, the more willing of them to use the loan effectively in order to get out of the poverty line This boost is not a coincidence as people who are more willing to escape poverty often spend a lot of their time and efforts to the efficiency of the loan Gender: gender has long been recognized as one of the unique feature of the whole microfinance industry It is said that the majority of the borrowers are women instead of men as it is concerned that men have less incentive than women to use the loan effectively in order to escape poverty The result in the analysis continued to consolidate this argument as gender also affect the escaping poverty chance of the borrowers as the coefficient for this dummy variable is 148.9 percent, which means women have more chance of escaping poverty than men if they borrow the microcredit-loan from VBSP, and gender has the strongest impact on the poverty alleviation Other evidences is that women have little interested in some forms of temptations and deemed to be more industrious than men Household’s size: As taken from the table, the household’s size also affected the result of poverty alleviation, with the coefficient of 72.9 percent However, it affected negatively the probability of escaping poverty of borrowers, which means if the households get one more family members, it may reduce the possibility of their chance to escape poverty by 72.9 percent It is appropriate that the household’s size affect the poverty alleviation result, as poor households often have many members, it is one of the obstacles for to escape poverty as the consumption, and basic service needed increase Compare to the previous literature review, the study could confirm that several factors in the analysis are properly affect the use of the microcredit: the loan’s amount, gender, 45 | P a g e LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com education, and household’s size However, the importance of gender and education have been understated in those studies In the analysis the author have shown how important the gender can affect the result as well as the education can be the main key to improve the result of the micro-credit use by poor households 46 | P a g e LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com CHAPTER 5: CONCLUSION AND RECOMMENDATIONS 5.1 Conclusion The analysis has demonstrated the factors affecting the result of microcredit use of poor households in Soc Son district To conclude, the research result showed that the microcredit-use of poor households were affected by many factors For instance, from the bank’s perspective, it is the rigorous command and order from the Central Bank that played an important role to influence the motivation of the Bank’s officer to increase the encouragement and support for the borrowers Otherwise, the partnership between multiple parties such as the local government, the bank, lending group, and social groups, have contributed to improving the micro-credit use of poor households On the other hand, the quantitative model elucidated some factors that may affect the poverty alleviation result, the author used many variables from the previous researches and studies, as well as the factors from the in-depth interview with the poor households After conducting the analysis, the author found that there are four factors affected the poverty alleviation result of the borrowers, naming loan’s amount, educational level, household’s size, and gender 5.2 Recommendations 5.2.1 Increase Advices, Instructions, Supports and Supervision for the Use of the Microcredit Loan Bank officers need to increase advises, instructions, support, and supervise the use of microcredit loan for poor households, so they can promptly detect the cases of misuse of capital or ineffective usage of the borrowers, which will affect the result of the microcredit-use by poor households According to statistics from the survey results and in-depth interview, the bank did provide it but in small scale only margined in a small group of poor households On the other hand, the author suggested that the poor households demand for capital is very high, while the advice and support of bank 47 | P a g e LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com officials are limited, partly because the human resource of VBSP Soc Son is still small, so it can only provide few supports and a bit of advices for the borrowers If well advised, poor households can increase their income and improve their ability to escape poverty On the other hand, VBSP also needs to improve the supervision process in order to detect and stop the misuse of the loan To conclude, the author suggest VBSP Soc Son to improve the management of credit supervising mechanism 5.2.2 Provision of Knowledge and Techniques for Poor Borrowers To improve the quality of the microcredit-use by poor households, providing knowledge on how to manage their production is very important VBSP can cooperate with the lending groups to open classes, where the borrowers receive consults, technical support as well as the knowledge in farming, ranching, or handicraft that will enable the borrowers to learn about the entrepreneurship and innovation to make their business more sustainable Likewise, providing them the basic instruction and information of the market, natural disasters, or an epidemic may reduce the risks for the borrowers Local authorities need to help poor households in technical support by providing programs to help poor households learn from each other's experiences to work together effectively The successful model will be propagated by the staff so that the remaining households can learn from the experience of successful cases to help them use the loan more effective For those who work effectively, they need to share their experiences with the remaining members in order to increase their incomes and improve their living standards Otherwise, the local government needs to need to research and make appropriate business’s model for each area to orientate the poor households to a profitable business in order to help them escape poverty 5.2.3 Increase Public Investment on Key Infrastructure and Education As is observed in the research, education plays an important role in using the microcredit loan Therefore, one of the recommendations is that the local government should invest 48 | P a g e LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com more on inclusive education to assure the educational level in the district If it was financed sufficiently, the quality of the education system in the area will be improved, and it will be a key tool to alleviate for the poor in the area The local government also needs to pay more attention to improve irrigation system, information technology system, transport systems to provide sufficient means for poor households to use the loan effectively Furthermore, investing in infrastructure of the poor areas will create more opportunity for poor households as it stimulates economic development and expands the market, thus borrowers may get more chance to invest effectively their loan and resources, increasing their income and escaping poverty 5.2.4 Increase the Loan’s Amount Limit As shown in the analysis, the loan’s amount plays an important role in using effectively the microcredit-loan The larger the loan the more likely that the borrowers can escape poverty by expanding their businesses, investing on education, avoiding black credit The current amount’s ceiling of VBSP is 30 million VND, which is quite low compared to the development of the economy and the price of necessary equipment Therefore, increasing the amount will help ease the issue of lacking capital of poor households However, increasing the amount of the loan also means that the bank needs to improve its operation and supervision to cope with the new situation 49 | P a g e LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Reference Abdur, Kazi (2013) What's wrong with microfinance? 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ISCTE Business School Karlan, D S., & Goldberg, N (2007) Impact evaluation for microfinance: Review of methodological issues Washington, D.C.: World Bank, Poverty Reduction 51 | P a g e LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com and Economic Management, Thematic Group on Poverty Analysis, Monitoring and Impact Evaluation Khandker, R.K (1998) Fighting poverty with microcredit: experience in Bangladesh (English) New York, NY: Oxford University Press Kiên H (2015.) Kinh nghiệm Đảng huyện Sóc Sơn cơng tác giảm nghèo, retrieved 14 January 2019, from https://hanoi.gov.vn/huong_toi_dai_hoi_dang//hn/FJNMlsYREDd4/111101/2762737/7/kinh-nghiem-cua-ang-bo-huyensoc-son-trong-cong-tac-giam-ngheo.html;jsessionid=QW-h-QIG2LI0mNSMYYPrc0o.app2 Lợi, N K (n.d.).Sóc Sơn: Giúp người nghèo từ nguồn vốn tín dụng sách Retrieved September 15, 2018, from http://sovhtt.hanoi.gov.vn/beta/soc-songiup-nguoi-ngheo-tu-nguon-von-tin-dung-chinh-sach/ Nam, M.V& Duc, A.V (2009) Hiệu sử dụng vốn vay hộ nghèo Quản Lý Kinh Tế (VEMR) Paulson, Anna L., and Robert M Townsend (2005) "Financial constraints and entrepreneurship: evidence from the Thai financial crisis." 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Asian Social Science, 11(10), 159 Tu, T.T.T., Viet, N.Q., Loi, H.H (2015) Determinant of access to rural credit and its effect on living standard: Case study about poor households in Northwest, Vietnam International Journal of Financial Research, 6(2), 218 Xuan Huong, N T., & Bich Dieu, D T (2018) Các Yếu Tố Ảnh Hưởng Đến Hiệu Quả Sử Dụng Vốn Tín Dụng Vi Mơ Cho Hộ Nghèo Từ Ngân Hàng Chính Sách Xã Hội Qn Ơ Mơn, Thành Phố Cần Thơ Retrieved December 4, 2018 53 | P a g e LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Zhang, Quanda (2017) Does microfinance reduce poverty? Some international evidence The BE Journal of Macroeconomics DOI: 17 10.1515/bejm-20160011 54 | P a g e LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Annexs PHIẾU THU THẬP THÔNG TIN NGHIÊN CỨU CÁC NHÂN TỐ ẢNH HƯỞNG ĐẾN KẾT QUẢ SỦ DỤNG VỐN TẠI NGÂN HÀNG CHÍNH SÁCH XÃ HỘI CHI NHÁNH HUYỆN SĨC SƠN Xin chào Quý Anh/Chị Tôi thực đề tài nghiên cứu “Phân tích yếu tố ảnh hưởng đến kết sử dụng vốn tín dụng vi mơ hộ nghèo Ngân hàng Chính sách Xã hội Việt Nam (VBSP): Trường hợp Huyện Sóc Sơn.” Tất thông tin mà Anh/Chị cung cấp sử dụng cho mục đích nghiên cứu đề tài, chúng tơi hồn tồn khơng sử dụng cho mục đích khác Rất mong Anh/Chị dành chút thời gian trao đổi số suy nghĩ Anh/Chị xin lưu ý tất quan điểm Anh/Chị giúp ích cho nghiên cứu Chúng xin cam đoan thơng tin từ Anh/Chị hồn tồn giữ bí mật Chân thành cảm ơn hợp tác Anh/Chị I, Phần Thông Tin Chung Tên Chủ Hộ Tuổi Địa Kinh Nghiệm Ngày Trả Lời Trình sản xuất học vấn độ II, Phần Câu Hỏi 55 | P a g e LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com 1, Anh/Chị có kinh nghiệm khứ liên quan đến việc sản xuất mà anh chị sử dụng vốn tín dụng vi mơ cho người nghèo hay chưa …………………………………………………………………………………………… ………………………………………………… 2, Số lượng thành viên hộ Anh/Chị người? …………………………………………………………………………………………… ……………………………………………… Xin Anh/Chị cho biết trình độ học vấn mình? Xin Chân Thành Cám Ơn Sự Giúp Đỡ Của Quý Anh/Chị 56 | P a g e LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Data Collection Paper Form of Research Information of Factors Affecting the Capital Use Results in Social Policy Bank of Soc Son District I am carrying out the research topic "Analysis of factors affecting the results of microcredit-use of poor households at Vietnam Bank for Social Policies (VBSP): The case of Soc Son District." All information provided by you is only for the purpose of research of the topic, we not use it for other purposes We would like you to take some time to exchange some of your thoughts and please note that all of your views are helpful to our research We guarantee that all information from you is completely confidential Thank you for your cooperation I, General Information Name of Borrower’s Borrower’s Date the address data age borrower of Educational Level Business Experience collection II, Questions Could you please tell me that in the past did you have any experience of production that relates to the current production that you are currently use the microcredit-loan for poor households? Could you please tell me the number of family member in your household? Could you please tell me about your educational level that you have taken? Sincerely Thank You for Your Cooperation 57 | P a g e LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Interview questions for the Director of VBSP Soc Son 1, Ask about basic information about the interviewee 2, Could you please tell me about the structure of VBSP Soc Son? 3, Could you please tell me how the process goes from the bank to the borrowers? 4, Could you please explain how to assess the result of the microcredit-loan use in term of the bank’s perspective? 5, Could you please explain the meaning of such measurement? 6, Could you please tell me about the bank’s policies to support and help improve the result of the microcredit loan for poor households? 7, In the future, what actions will the Bank apply to improve the result? Interview question for Officer of Credit Supervising 1, Could you please tell me about the function of the Credit Supervising Department? 2, Could you please tell me about how you supervise the use of the loan 3, What kind of support that you apply to help the borrowers to avoid failure in doing their businesses? 4, How often you inspect the use of the micro-credit loan? 5, Could you please tell me what are the factors contribute to the achieved result of the Bank? 6, Could you please tell me if there are any difficulties you face to achieve this result? 58 | P a g e LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com 7, What are your future plan to further the achievement of the bank? Interview questions for Poor Borrowers 1, Ask about their basic information about the interviewee 2, What is the amount of the loan that you borrowed from the bank? Is it your concern? 3, What is the interest rate that you need to repay for the bank? Is it your concern? 4, What is the term of the loan that borrowed? Is it your concern? 5, What kind of business that you invested the microcredit loan in? 6, Why you invested the loan in that kind of business? 7, Did you have any experience in the business that you invested? 8, What difficulties or risks did you face when you use the microcredit loan? 9, Did you receive any support or guidance from the bank in order to ensure your business goes well? 10, What kind of suggestions that you want the bank to undertake in order to ease your concern? 59 | P a g e LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com .. .VIETNAM NATIONAL UNIVERSITY, HANOI VIETNAM JAPAN UNIVERSITY NGUYEN HAI LONG AN ANALYSIS OF FACTORS AFFECTING THE RESULTS OF THE VIETNAM BANK FOR SOCIAL POLICIES (VBSP) MICROCREDIT USE BY POOR. .. of many other types of financial services such as insurance or saving Most of the 8|Page LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com transactions in microfinance organizations are... State Bank of Vietnam VBSP Vietnam Bank for Social Policies VND Vietnam Dong (Currency) WB World Bank LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com CHAPTER 1: INTRODUCTION Research
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