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By Mario D. Lamberte, Robert C. Vogel, Roger Thomas Moyes

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Additional resources for Beyond Microfinance: Building Inclusive Rural Financial Markets in Central Asia

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1997. The Financier: Analyses of Capital and Money Market Transactions. February/May. Kilby, Peter, Carl E. Liedholm, and Richard L. Meyer. 1984. Working Capital and Nonfarm Rural Enterprises. In Undermining Rural Development with Cheap Credit. McKinnon, Ronald I. 1973. Money and Capital in Economic Development. , and Geetha Nagarajan. 2000. Rural Financial Markets in Asia: Policies, Paradigms, and Performance. Asian Development Bank. Chapter 1 From Agricultural Credit to Rural Finance: In Search of a New Paradigm Riera, Felix, and Jorge Molina.

What is Rural finance has not yet arrived fully at a new paradigm, although important progress has been made. 30 Beyond Microfinance: Building Inclusive Rural Financial Markets in Central Asia • • • 44 required is a concerted and coordinated effort by development agencies and private funders to require such transparency, and possibly to support it as part of assistance with implementing improved management information systems, which are also crucial for effective risk management. Informal finance is likely to be as widespread in rural as in urban areas and may even be more important in rural areas than formal finance, especially in the number of individuals served if not in the amounts involved.

Mongolia has the smallest population size. Azerbaijan is the most densely populated among the six countries, with 95 persons per square kilometer (km2). 5 persons/km2, followed by Kazakhstan with 5 persons/km 2. 1 The share of rural population in the six transition economies has remained large. In Azerbaijan, fewer people live in rural areas than in urban areas. However, the rural population has been growing much faster than the urban population over the last decade. As a 1 Population densities per square kilometer for some countries in South and Southeast Asia are: Bangladesh – 916; India – 330; Indonesia – 114; Pakistan – 187; Philippines – 276; and Viet Nam – 249.

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