Les développements actuels de microfinance encouragent les IMF à fournir un éventail plus large de services financiers au sein d'un portefeuille multiservices comprenant de la micro-épargne, de la micro-assurance, des services bancaires mobiles. L'une des caractéristiques de cette tendance s'exprime par la volonté des IMF de développer le marché de l'épargne afin d'atteindre les clients les plus pauvres mais également d'attirer des dépôts à moindre coûts. L'évolution rapide de la microfinance a également engendré un processus de commercialisation qui implique l'ouverture du secteur aux pratiques marchandes et qui se concrétise par un changement des modes de financement des IMF. Le domaine de la microfinance est donc sujet à de nombreuses modifications qui touchent aussi bien les pratiques des IMF, que leur organisation ou leur mode de financement. L'objectif de cette thèse est alors de contribuer à la compréhension de l'impact de ces modifications sur le développement et l'efficacité des sociétés de microfinance. Pour se faire, nous nous proposons d'explorer trois thèmes particuliers, correspondant aux trois chapitres de la thèse. Premièrement, nous chercherons à identifier des mécanismes originaux d'incitations relatifs aux nouvelles pratiques des IMF (en particulier l'offre couplée de services financiers) et permettant d'assurer l'exécution des contrats de financement. Deuxièmement, nous tenterons d'évaluer la performance des IMF offrant des services de microfinance couplés (crédit plus épargne) par rapport aux IMF traditionnelles. Enfin, nous étudierons l'impact des nouvelles modalités de financement des IMF sur leurs performances à la fois financières et sociales. / It has been commonly acknowledged that in order to reach the target clienteles with loans at attractive terms and conditions, an appropriate technology for delivering financial services must be developed. Next to this, current developments in microfinance industry encourage MFIs to offer wide-ranging services within a multiservice portfolio including microsavings, microinsurance, remittances, mobile banking etc. One of the main pillars of this trend has become MFIs increasing interest in the expansion into the savings market to reach more poor clients as well as to lower costs by attracting presumably cheaper deposits. Joint services are tailored to better meet needs of the poor and aim at building sustainable financial systems and establishing closer and long-term relationship with clients. Furthermore, the rapid evolution of microfinance has generated another essential and closely related trend: commercialization. The focus of this dissertation is on three emerging issues associated with the development of microfinance sector: incentive mechanisms to address contract enforcement and screening problems, performance of MFIs though the lenses of combined microfinance services (credit plus savings), and performance of MFIs though the lenses of capital structure. The essays in the dissertation vary in research methodology: one essay is theoretical and two are empirical. Moreover, the data come from diverse microfinance units: Microfinance Information Exchange (MIX) online database and Microfinance Centre for Central & Eastern Europe and the New Independent States (MFC). As far as methods are concerned the empirical essays use less frequently applied methodologies in microfinance studies: seemingly unrelated regression (SUR) and propensity score matching (PSM).

Submitted by admin tede (tede@pucgoias.edu.br) on 2016-08-18T18:18:27Z No. of bitstreams: 1 SHEYLA DE LIMA PINHEIRO.pdf: 398200 bytes, checksum: ead98109ca8c66204004417d733b2f03 (MD5) / Made available in DSpace on 2016-08-18T18:18:28Z (GMT). No. of bitstreams: 1 SHEYLA DE LIMA PINHEIRO.pdf: 398200 bytes, checksum: ead98109ca8c66204004417d733b2f03 (MD5) Previous issue date: 2014-08-01 / The substantial increase in trade between countries that negotiate multilaterally did also increase the number of disputes related to commercial issues that are regulated by WTO agreements and such disputes are resolved by its dispute settlement body. The large number of disputes arise not only the inconsistency of trade rules, but also a slightly more stabilized environment that was fostered by the creation of the WTO. The system of dispute settlement provided a more stable, predictable and governed by rules previously accepted by the members environment. The system of dispute brought unquestionable innovations in solving trade disputes, however, although most of its decisions are complied with for an index of noncompliance that should be examined, because any breach in the commercial harvest is problematic and generates numerous developments. This research is based on the search for an understanding of the reasons for the failure of these decisions and if noncompliance is the result of the influence of market values or institutional weakness of the WTO. The research tries to seek an understanding of the barriers that hinder the implementation of the decision of the OSC when the dispute is between a country with a strong economy and a developing country. It is in the implementation phase of the decisions that the economic and political disparities between states are revealed as the greater or lesser importance of access to certain market seems to be crucial to the decision to comply with a WTO ruling. To identify asymmetries, the work focuses mainly on the analysis of the cotton case involving Brazil and the U.S. over agricultural subsidies used by the Americans and considered illegal by the decision issued by the Dispute Settlement Body of the WTO. / O aumento substancial das trocas comerciais entre os vários países que negociam multilateralmente fez aumentar também o número de disputas relacionadas aos temas comerciais que são regulados por acordos da OMC e tais disputas são solucionadas por seu órgão de solução de controvérsias. O grande número de disputas decorre não somente da inconsistência de regras comerciais, mas também de um ambiente um pouco mais estabilizado que foi propiciado pela criação da OMC. O sistema de solução de controvérsias propiciou um ambiente mais estável, previsível e regido por regras previamente aceitas pelos membros participantes. O sistema de solução de controvérsias trouxe inovações inquestionáveis na solução das disputas comerciais, no entanto, apesar da maioria de suas decisões serem cumpridas há um índice de descumprimento que deve ser analisado, pois qualquer descumprimento na seara comercial é problemático e gera inúmeros desdobramentos. Esta pesquisa se baseia na busca de um entendimento sobre as razões do descumprimento das decisões e se estes descumprimentos são fruto da influência dos valores de mercado ou da fragilidade institucional da própria. A pesquisa tenta buscar um entendimento sobre os entraves que dificultam a implementação da decisão do OSC quando a disputa for entre um país de economia forte e um país em desenvolvimento. É na fase de implementação das decisões que as assimetrias econômicas e políticas entre os Estados são reveladas uma vez que a maior ou menor importância de acesso a certo mercado parece ser determinante para a decisão de cumprir com uma decisão da OMC. Para identificar as assimetrias, o trabalho foca principalmente na análise do caso do algodão envolvendo o Brasil e os EUA acerca dos subsídios agrícolas utilizados pelos norte-americanos e considerados ilegais pela decisão emitida pelo Órgão de Solução de Controvérsias da OMC.

Un nombre croissant de données satellitaires et aéroportées acquises dans le domaine micro-ondes sur la surface demer est aujourd’hui disponible. L’interprétation correcte de ces observations dépend d’une part de la précision desmodèles de diffusion électromagnétiques, et d’une autre part de la maîtrise des propriétés hydrodynamiques etstatistiques de la surface. Ces dernières années ont connu une amélioration considérable des modèlesélectromagnétiques et spectraux. Cependant, certains phénomènes sont encore mal compris et non pris en comptepar ces modèles. En particulier, la variation angulaire de la surface de mer est à ce jour non totalement caractériséeet modélisée. Ce travail de thèse concerne l’étude de cette variation azimutale et des asymétries directionnelles de lasurface de mer. Une première étape consiste à effectuer une analyse expérimentale en se basant sur les données dela littérature mais également sur d’autres jeux de données acquises par l’ONERA et le DSTO. Cette analysepermettra de caractériser les asymétries directionnelles en fonction de la géométrie d’observation, l’état de mer et lafréquence électromagnétique. Une seconde étape consiste à proposer des mécanismes physiques pouvant être àl’origine des asymétries directionnelles. L’asymétrie upwind-crosswind étant essentiellement liée à la fonctiond’étalement du spectre directionnel, notre étude théorique a principalement porté sur la caractérisation del’asymétrie upwind-downwind. Nous étudions l’influence de la prise en compte des formes déferlantes, initialementà travers des formes simples de vagues fortement asymétriques, et ensuite à travers une distribution de pentesexpérimentale prenant en compte ces formes de vagues. Les asymétries obtenues par un modèle deux-échellesprenant en compte ces formes de vagues sont en accord qualitatif avec les asymétries observées pour les bandes defréquences X et L. Une étape supplémentaire consiste ensuite à calculer les asymétries obtenues par un code dediffusion rigoureux sur des profils numérisés d’une expérience en soufflerie et permet la validation des résultatsobtenus avec un modèle deux-échelles. / An increasing number of airborne and spaceborne data acquired in the microwave regime on the sea surface is nowavailable. The appropriate interpretation of these observations depends on the precision of the electromagneticscattering models as well as the knowledge of hydrodynamic and statistical properties of the sea surface. Aconsiderable improvement has been realized in electromagnetic and spectral models in the recent years. However,some phenomena are still poorly understood and not correctly taken into account in these models. In particular, theangular variation of the sea surface is still not totally characterized and modeled. This PhD work concerns the studyof this azimuthal variation and the related directional asymmetries. A first step consists in carrying out anexperimental analysis based on data of the literature and other datasets acquired by ONERA and DSTO. Thisanalysis enables the characterization of the directional asymmetries with respect to acquisition geometry, sea stateand electromagnetic frequency. A second step consists in suggesting and testing physical mechanisms that may beat the origin of these directional asymmetries. As the upwind-crosswind asymmetry is essentially related to thespreading function of the directional spectrum, our theoretical study focused on the study of the upwind-downwindasymmetry. We investigate the influence of the presence breaking waves, initially through simple forms of stronglyasymmetric waves, and then through an experimental slope distribution including these wave forms. Theasymmetries obtained by a two-scale model taking into account these wave forms are in qualitative agreement withthe asymmetries observed at X and L bands. A further step consists in calculating the asymmetries using a rigorousmodel on digitized wind tank experiment profiles and allows the validation of the results previously obtained usinga two-scale model.

It has been commonly acknowledged that in order to reach the target clienteles with loans at attractive terms and conditions, an appropriate technology for delivering financial services must be developed. Next to this, current developments in microfinance industry encourage MFIs to offer wide-ranging services within a multiservice portfolio including microsavings, microinsurance, remittances, mobile banking etc. One of the main pillars of this trend has become MFIs increasing interest in the expansion into the savings market to reach more poor clients as well as to lower costs by attracting presumably cheaper deposits. Joint services are tailored to better meet needs of the poor and aim at building sustainable financial systems and establishing closer and long-term relationship with clients. Furthermore, the rapid evolution of microfinance has generated another essential and closely related trend: commercialization. The focus of this dissertation is on three emerging issues associated with the development of microfinance sector: incentive mechanisms to address contract enforcement and screening problems, performance of MFIs though the lenses of combined microfinance services (credit plus savings), and performance of MFIs though the lenses of capital structure. The essays in the dissertation vary in research methodology: one essay is theoretical and two are empirical. Moreover, the data come from diverse microfinance units: Microfinance Information Exchange (MIX) online database and Microfinance Centre for Central & Eastern Europe and the New Independent States (MFC). As far as methods are concerned the empirical essays use less frequently applied methodologies in microfinance studies: seemingly unrelated regression (SUR) and propensity score matching (PSM).