Inclusive Business, Microfinance, and SocialEntrepreneurship: The Case of the FarmersIntegrated Development Assistance (FIDA)Program in Western Visayas

Inclusive Business, Microfinance, and Social Entrepreneurship: The Case of the Farmers Integrated Development Assistance (FIDA) Program in Western Visayas

Anonymous

by: Frediezel G. De Leon, Fredelino A. Galleto, Jr., Christine Mae D. Hernando

Abstract

Microfinance rooted in the concept and practice of inclusive business (IB) has gained global recognition as one of the financial interceders fostering poverty alleviation and development. This paper presents the findings of a study that examined the delivery of IB programs of microfinance institutions (MFIs), which feature the inclusion of low-income communities in the market value chain. Focusing on the Farmer Integrated Development Assistance (FIDA), a microfinance program offering credit assistance to poor and marginalized farmers, the study assessed the conventions of IB as applied by the MFIs in assisting farmers’ associations; microfinance operations; and social entrepreneurship. A qualitative research design was used, and primary data was generated through key informant interviews with the farmer-beneficiaries of the FIDA. Study findings reveal the features of FIDA’s IB program, the extension of various microfinance interventions to farmer-beneficiaries, and challenges and success factors in microfinance delivery. The FIDA program’s success was mainly attributed to the MFIs’ ardent commitment to their mission of providing opportunities for inclusive business growth for the low-income farming communities. Results also show how social entrepreneurship was concretized in terms of improvements in farming skills and market linkages as well as increases in the level of productivity and income of farmer-beneficiaries. The study recommends a governance posture, i.e., collaborations between government and other societal organizations in the delivery of IB programs to target beneficiaries.

Keywords:Social entrepreneurship, Social Integration, Inclusive Business, Microfinance

Financial Literacy, Attitude, and Behavior of Female and Male College Students: The Case of the University of the Philippines Visayas

Financial Literacy, Attitude, and Behavior of Female and Male College Students: The Case of the University of the Philippines Visayas

Anonymous

by: Ysabella P. Cainglet, Jose Neil M. Hortillo, Reynold D. Tan

Abstract

Financial literacy is important in today’s fast-paced environment. Financially literate individuals understand basic finance concepts, prioritize their expenses, have enough savings, and invest in the right portfolio. These lead to financial security and better decision making of individuals and groups, and are vital to economic development. Related to financial literacy are financial attitude and behavior, which can be described as the motivation and the action after knowledge. Youth and women must be given attention in inclusive finance policies. According to the Organisation for Economic Co-operation and Development (OECD), young adults exhibit low financial literacy, and that a gender gap exists. In this study, financial management is discussed in the context of assigned social roles and socialization factors. To assess the level of financial literacy, attitude and behavior of University of the Philippines Visayas students (from Iloilo City and Miagao campuses) and to determine if there is a gender gap, 271 respondents were surveyed, with 188 female respondents and 83 male respondents. Results show that males score higher than females in financial literacy, and the difference is statistically significant. For financial attitude, there is no significant difference in key areas, but female college students have become more aware of the importance of financial literacy during the pandemic. For financial behavior, while there is no significant difference between females and males, females perform better financial planning, and males tend to save regularly. The results of this study have implications on the crafting of gender-responsive financial literacy courses, and on a larger scale, on national financial inclusion policies.

Keywords:financial literacy, education, financial attitude and gender gap, UPV students

An Analysis of the Knowledge Dimension of Financial Literacy among Basic Education Teachers in Southern Antique, Philippines

An Analysis of the Knowledge Dimension of Financial Literacy among Basic Education Teachers in Southern Antique, Philippines

Anonymous

by: Kim Rommel E. Panaguiton

Abstract

Financial literacy has been considered a life skill necessary for making sound financial decisions. Yet numerous studies around the globe have documented low levels of financial knowledge among different populations and socio-demographic groups. This study presents the results of a financial literacy survey conducted among primary and secondary education teachers in Southern Antique, Philippines. Using the instrument developed by the Organization for Economic Cooperation and Development/International Network on Financial Education (OECD/INFE), the results show that the average financial knowledge score of the respondents is 4 out of 7, and less than half are assessed to have good financial knowledge. Difficulties were noted in interest calculations and understanding the time value of money and diversification. Ordinary least squares (OLS) and stepwise multiple regression analyses further reveals that higher knowledge scores are associated with teachers with high family income, those who have taken graduate studies, those with numerous family dependents, and those teaching at secondary (high school) levels. These findings have implications for policy recommendations on financial literacy interventions.
Keywords:financial literacy, financial knowledge, financial education, OECD, public school teachers

Non-Use Values in Natural Resource Damage Assessment An Estimate for the MT Solar 1 Oil Spill Offshore Guimaras, Philippines

Non-Use Values in Natural Resource Damage Assessment An Estimate for the MT Solar 1 Oil Spill Offshore Guimaras, Philippines

Anonymous

by: Rodelio Subade 

Abstract

This paper assessed whether non use values were affected due to the oil spill from the M/T Solar 1, which sank offshore south Guimaras on August 11, 2006. Contingent valuation survey was conducted through personal interviews of 250 randomly selected respondents in Poblacion, Calinog, Iloilo. Results confirmed there were non use values reflecting preference towards the prevention of oil spills similar to what happened in Guimaras and vicinity. Moreover, 41% of the respondents would be willing to pay a contribution which will build a trust fund to be allocated for a program that will minimize or prevent the occurrence of oi l spil ls. Respondent WTP was computed using the survivor function, at PhP74.50, which could translate to PhP92.5 million for the whole Western Visayas, and can reach PhP1.1 billion for the whole country. This confirmation of affected nonuse values and its potential magnitude if included in oil spill damage compensation can prevent or decrease possible occurrence of similar oil spill(s) in the future.

Keywords: Non use values, economic valuation, Solar 1 oil spill

Economic Valuation of Selected Indirect Uses of Mangroves Damaged by the Solar 1 Oil Spill in Guimaras Island, Philippines A Benefit Transfer Approach

Economic Valuation of Selected Indirect Uses of Mangroves Damaged by the Solar I Oil Spill in Guimaras Island, Philippines A Benefit Transfer Approach

Anonymous

by: Gay D. Defiesta

Abstract

Mangroves forests are important ecosystems for the goods and services they provide humanity including timber support to fisheries, carbon sequestration, protection from storms and tsunamis and even recreation among others. The total economic value of mangroves includes direct, indirect, option and non-use values. Unfortunately, mangrove ecosystems face intense pressure due to anthropogenic activities. Among those that severely damage mangroves forests worldwide are oil spills.

This study values the damage of the Solar I oil spill on mangroves in Guimaras last August, 2006 particularly indirect use values of four selected ecosystem functions namely litterfall, nursery, storm protection and soil erosion prevention functions. These actual and potential losses of the damage were estimated using benefit transfer method. Actual losses based on tree mortality of 0.97 hectare is equivalent to Php92,255 for the initial year. Potential losses range from PhP 3.99 million to PhP 6.6 million under the assumed best case scenario of 6.45 hectares or 1% damage of mangrove cover and PhP 59.8 million to PhP 98.7 million under worst case assumption of 15% damage.

The figures presented in this study could be viewed as indicators of the social loss arising from the damaged mangroves caused by the oil spill and should be appreciated in terms of the insight they provide on the extent of this loss. The study recommends that monitoring of actual mangrove damage should be conducted to serve as basis for original valuation studies. It is also suggested that original valuation studies on a wider range of ecosystem services of mangroves in the Philippines be done to provide basis of their total economic value.

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Economic Valuation of Impact of the MT Solar 1 Oil Spill in Southern Guimaras, Philippines Direct Use Value

Economic Valuation of Impact of the MT Solar I Oil Spill in Southern Guimaras, Philippines Direct Use Value

Anonymous

by: Joy C. Lizada*, Gay D. Defiesta, Rodelio F. Subade, and Paul Erwen T. Parreño

Abstract

This study involved the valuation of direct use value of environmental damages due to oil spill in southern part of Guimaras Island. Direct use value is treated as a component of the total economic value (TEV). A field survey was conducted on October 6 – 28, 2006 to generate data on income changes from livelihood activities and changes in recreational benefits of households whose livelihoods and recreational benefits were impaired by the oil spill. The study had a sample size of 615 households and respondents were chosen using stratified random sampling.

The study revealed that the oil spill greatly affected the livelihood and recreation activities of the respondents in Guimaras Island. The foregone income from the livelihood activities affected by the oil spill in southern Guimaras was about P 42 million. Meanwhile, the lost recreational value at wage rate of P12.38 per hour, ranged from about P 43 million at 20% wage rate to P 2 million at full wage rate.

The estimated direct use value of environmental damages due to the oil spill in Guimaras Island ranged from P 42 million at 20% wage rate to P 44 million at full wage rate. Given that the sample was about 4.42 percent of the 13,917 directly affected households, by ratio and proportion the indicative direct use value of environmental damages due to the oil spill in Guimaras Island would range from P970 million to P1 billion. This amount represents the upper bound estimate loss of benefits of affected households due to the oil spill.

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Health Care Services Utilization and Cost Among Residents of MT Solar 1 Oil Spill- Affected Coastal Barangays in Guimaras

Health Care Services Utilization and Cost Among Residents of MT Solar I Oil Spill- Affected Coastal Barangays in Guimaras

Anonymous

by: Alice Joan G. Ferrer

Abstract

This paper describes the pattern of utilization and cost of curative care using data on 2841 individuals from 615 households in 27 oil-spill affected barangays in Guimaras seven weeks after the incident. The household turned out to be the main provider of basic curative care. The medical mission and barangay health stations were the popular sources of care outside home. Individuals seeking care outside home spent more time on the road and waiting compared to actual time spent with health care provider. It is necessary to capacitate government facilities as they were highly used by individuals seeking care outside home. The transportation facilities in the area must also be improved to lower time cost of the people. Further study should look at health care utilization and cost months after oil spill. While the information provided in the present study are highly valuable, further analysis can be done not only to describe but also to explain choices of people regarding health care service utilization.

Keywords: Health care utilization, health care cost,
health and oil spill

Health Status, Practices and Reported Effects of the MT Solar I Oil Spill on Residents and Clean Up Workers in Nueva Valencia, Guimaras

Health Status, Practices and Reported Effects of the MT Solar I Oil Spill on Residents and Clean Up Workers in Nueva Valencia, Guimaras

Anonymous

by: Serafin O. Malecosio Jr., Mary Ann A. Naragdao, Maria Kristina S. Gonzalez, and Alice Joan G. Ferrer

Abstract

This is a cross-sectional study design that compared the self-reported health symptoms among the affected residents living along the coastal barangays affected by M/T Solar 1 oil spill in Nueva Valencia, Guimaras before and after the oil spill. It compared the symptoms between clean up and non-clean up workers of the exposed study population, and described the health status of clean up workers. There were 3,174 individuals interviewed: 2,841 belong to the exposed and 333 to the unexposed group. Of these, 124 oil spill cleanup workers in the exposed group and 37 in the unexposed were selected. The respiratory function, kidney and liver organ functions, hemoglobin and hematocrit levels of these selected clean up workers were analyzed.

Self-reported symptoms among the exposed residents were significantly increased after the oil spill incident after adjusting for the effects of age, sex, alcohol intake and smoking. The odds of developing fever/flu (POR= 6.38, P=0.000), skin blisters (POR= 5.43, P=0.000), stomach ache (POR= 4.9, P=0.000), chest pains (POR=4.88, P=0.000) and watery eyes (POR 4.09, P=0.000) were significantly higher after the oil spill than before the oil spill in the exposed population. Clean up workers were four times more likely to develop sore throat compared with the non-clean up workers in the exposed population (P=0.0000).Clean up workers showed significantly low peak expiratory flow (P=0.000), elevated SGPT (3%), SGOT (2%), Creatinine (20%), Blood Urea Nitrogen (24%), low hemoglobin (14%) and low hematocrit (20%) levels. About three fourth of clean up workers were hired without completing the required medical requirements.

The study recommends long-term monitoring of the health effects of oil spill on the exposed population, particularly clean up workers,.stricter screening procedures and selection of clean up workers, provisions of correct protective equipment, adequate training, and proper monitoring on the use of personal protective equipment in the field.

Keywords: Oil spill, health effects, clean up workers

Nutritional Status of Preschool and School Age Children among Coastal Barangays in Guimaras Province Affected by the Oil Spill

Nutritional Status of Preschool and School Age Children among Coastal Barangays in Guimaras Province Affected by the Oil Spill

Anonymous

by: Lucifino V. Firmo

Abstract

The study describes the nutritional status of seven hundred ten (710) preschool- and schoolage children found in 615 households surveyed in Guimaras province using the following anthropometric indicators: Mid-upper Arm Circumference (MUAC), Weight for Age (WFA), and Weight for Height (WFH). The effect of the oil spill on the nutritional status of preschoolers is examined by comparing the proportion of children who were normal, below normal or underweight and overweight/obese using Weight for Age data “before” and “after” the oil spill. Preliminary screening of the nutritional status of the children using the Mid-upper Arm Circumference showed that 74.4% of them have values below normal indicating that they are at risk of developing malnutrition. Twenty seven percent (27.0 %) of the preschoolers were underweight and 4.3 % were overweight. Among the school-age children, 12.3% were thin and 2.8% were obese. Comparison of the proportion of undernourished preschool-age children “before” and “after” the oil spill revealed a statistically significant Odds Ratio (OR) of 2.59 (C.I. 1.62, 4.16), which indicated that the likelihood of developing malnutrition is 2.5 times higher after the oil spill than it was before the incident. The effect of confounding factors like food and caloric intake, presence of infections, health status and physical activity were not analyzed. In view of the depressed nutrition situation of the oil spill affected barangays, the author recommends the immediate implementation of nutrition interventions targeting the households with malnourished children.

Keywords: 

Livelihood Analysis of Communities Affected by the Solar 1 Oil Spill in Guimaras Island

Livelihood Analysis of Communities Affected by the Solar I Oil Spill in Guimaras Island

Anonymous

by: Gay D. Defiesta

Abstract

Livelihoods in the rural areas are seasonal and unstable making poor families vulnerable to adverse shocks such as disasters, market fluctuations or anything that jeopardizes their income sources. This is aggravated by inadequate financial wealth/savings to shield them during times of crisis. Despite the lack of steady income, numerous studies show that the poor survive by engaging in many different livelihoods to maintain their standard of living and consumption.

The Solar I oil spill disrupted a number of livelihoods in Guimaras. This study is a baseline analysis that describes the livelihood and wealth/ asset structure of people in the area to determine their vulnerability to the shock brought about by the oil spill. The paper also looked into the strategies of affected families to cope with the disaster. Results show that families engage in multiple activities not only fishing but also farming, off farming, business and wage employment. Some households have alternative sources of income and receive remittances from family members, while others are solely dependent on fishing and fishing activities. Based on the socio-economic profile, access to and ownership of assets, most families were vulnerable and were adversely affected by the oil spill. They responded to the disaster by intensifying non fishery resource based activities and migrating temporarily to seek employment.

The study recommends that non-fishing livelihoods should be developed to reduce vulnerability of the community to disasters affecting fishing income. It also recommends that further research on the dynamics and gender dimensions of livelihoods.

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