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Micro-credit Access and Household Welfare in Rural Cameroon

In: Promoting Microfinance

Author

Listed:
  • Francis Menjo Baye

Abstract

Microfinance is expected to help poor households generate income through micro-activities, smooth consumption, give them dignity and consequently enhance their wellbeing. Many studies have shown that by providing low-income households with access to financial services, their productivity, management skills and quality of life improve (Khandker, 1998; Zeiler, 2000; ADB, 2000; Parker and Nagarajan, 2001; Morduch and Haley, 2002). Unfortunately, because of the lack of collateral and high transaction costs, the poor and vulnerable cannot access formal bank credits (Pitt and Khandker, 1998; Khandker, 2003). Microfinance institutions (MFIs) have the potential to provide this missing link. The attention on microfinance and its role in reducing poverty was further amplified when Mohammad Yunus received the 2006 Nobel Peace Prize. According to the Nobel Committee, microfinance can help people to break out of poverty, which in turn is seen as an important prerequisite to establishing long-lasting peace (Norwegian Nobel Committee, 2006).

Suggested Citation

  • Francis Menjo Baye, 2013. "Micro-credit Access and Household Welfare in Rural Cameroon," Palgrave Macmillan Books, in: Ronny Manos & Jean-Pierre Gueyié & Jacob Yaron (ed.), Promoting Microfinance, chapter 6, pages 103-131, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-03491-5_6
    DOI: 10.1057/9781137034915_6
    as

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