Risk management for the poor and vulnerable
AbstractThis paper reviews some literatures on the mechanisms available for the poor in managing risk. Lacking access to formal mechanisms of risk management, the poor rely on informal mechanisms, which are built based on the existing social networks and trust. But when the shocks are big or affecting the entire community, these informal mechanisms may not be adequate. Some policy interventions are then required to help improving the ability of poor people in managing risk. Policy intervention should aim to provide access for the poor on saving, credit and insurance. Microfinance schemes have been applauded as a successful `best practice' in providing access to saving and credit. However, microfinance institutions still have some room for improvement by expanding their role in providing insurance schemes.
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Bibliographic InfoPaper provided by Centre for Strategic and International Studies, Jakarta, Indonesia in its series CSIS Economics Working Paper Series with number WPE093.
Date of creation: May 2005
Date of revision:
poverty; vulnerability; risk management; microfinance.;
Find related papers by JEL classification:
- I3 - Health, Education, and Welfare - - Welfare and Poverty
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-06-05 (All new papers)
- NEP-RMG-2005-06-05 (Risk Management)
- NEP-SEA-2005-06-05 (South East Asia)
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