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Market Solutions in Poverty: The Role of Microcredit in Development Countries with Financial Restrictions

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Author Info
Mário Olivares
Sofia Santos
Abstract

The creation of credit markets in poor countries is a crucial factor for their development. If well put into practice, people would be able to improve their quality of life. With the suitable support they will become educated and that will allow them to enlarge their business, to think by themselves and to appreciate that they have rights. Microfinance has seen great changes in the last 50 years and has become visibly known due to the success of some occurrence in developing countries and more recently in Europe through a number of schemes that have been implemented solving this key issue. In this article we discuss this experience, we evaluate the economic theory of microfinance and propose a alternative model. We conclude that microcredit can be see as a new approach in developing policies or as a scheme against unemployment.

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File URL: http://pascal.iseg.utl.pt/~depeco/wp/wp122009.pdf
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Publisher Info
Paper provided by Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon. in its series Working Papers with number 2009/12.

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Date of creation: Mar 2009
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Handle: RePEc:ise:isegwp:wp122009

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Postal: Department of Economics, School of Economics and Management (ISEG), Technical University of Lisbon, Rua do Quelhas 6, 1200-781 LISBON, PORTUGAL
Web page: http://www.iseg.utl.pt/departamentos/economia/

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Related research
Keywords: microfinance; microcredit; rate of interest; development; poverty; money.;

Find related papers by JEL classification:
D7 - Microeconomics - - Analysis of Collective Decision-Making
D8 - Microeconomics - - Information, Knowledge, and Uncertainty
G19 - Financial Economics - - General Financial Markets - - - Other
O23 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development

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This page was last updated on 2009-11-20.

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