This book records the first success stories of a new form of financial intermediation, the hometown investment fund, that has become a national strategy in Japan, partly to meet the need to finance small and medium-sized enterprises (SMEs) after the devastating earthquake and tsunami in March 2011. The hometown investment fund has three main advantages. First, it contributes to financial market stability by lowering information asymmetry. Individual households and firms have direct access to information about the borrowing firms, mainly SMEs, that they lend to. Second, it is a stable source of risk capital. The fund is project driven. Firms and households decide to invest by getting to know the borrowers and their projects. In this way the fund distributes risk but not so that it renders risk intractable, which was the problem with the "originate and distribute" model. Third, it contributes to economic recovery by connecting firms and households with SMEs that are worthy of their support. It also creates employment opportunities, at the SMEs as well as for the pool of retirees from financial institutions who can help assess the projects. Introduction of the hometown investment fund has huge global implications. The world is seeking a method of financial intermediation that minimizes information asymmetry, distributes risk without making it opaque, and contributes to economic recovery. Funds similar to Japan's hometown investment fund can succeed in all three ways. After all, the majority of the world's businesses are SMEs. The first chapter explains the theory behind this method, and the following chapters relate success stories from Japan and other parts of Asia. This book should encourage policymakers, economists, lenders, and borrowers, especially in developing countries, to adopt this new form of financial intermediation, thus contributing to global economic stability.
A collection of senseless ramblings about finding love at a rabies clinic, student drivers, talking alarm clocks, coffee crystal werewolves and blended families. Life in a small town can be a little bit of hell and an awful lot of heaven, especially if you happen to be lucky enough to belong to a family who doesn't have a firm grasp on reality. Take a lighthearted journey from one life lesson to another with a family on the far side of normal.
My family had to move house. Find out how we chose a new place to live in Finding a New Home. Oxford Literacy has been specifically designed to support guided reading in the first three years of school. The Oxford Literacy fiction and non-fiction guided reading texts recognise that a guided reading group in a 'real' classroom never has every student on the same level; therefore, the texts and supporting teaching versions allow educators to work with small groups of students across a range of levels within their stage of reading.
The latest edition of the critically acclaimed Small Animal Endoscopy presents informative, practical, and up-to-date guidance on endoscopic indications, instrumentation, patient preparation, and techniques. Todd R. Tams and Clarence A. Rawlings, the foremost experts in veterinary endoscopy, provide the novice as well as the advanced practitioner with the information needed to deliver the safest, high-quality endoscopic services for small animals, including avian and exotics. Chapters are organized consistently and lavishly illustrated to help you easily find and understand key concepts and procedures. This edition includes a companion website with expert demonstrations of techniques, as well as a collection of marketing brochures and examples of patient discharge instructions for veterinarians to give clients.
'Homegardens' are integrated tree-crop-animal production systems, often established on small parcels of land surrounding homesteads, and primarily found in tropical environments. This multi-authored volume contains peer-reviewed chapters from the world's leading researchers and professionals in this topic. It summarizes the current state of knowledge on homegarden systems, with a view to using this knowledge as a basis for improving both homegardens and other similar multistrata agroforestry systems.
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