Self-Help Groups as Gendered Institutions in Emerging Rural Markets: An Institutional–Capability Perspective from Jharkhand, India

In emerging market economies, persistent gender asymmetries in access to finance, productive assets, and decision-making authority continue to constrain inclusive development. Conventional market mechanisms and state-led interventions often remain inadequate in addressing these structural exclusions, particularly in rural and tribal regions. This paper conceptualizes Self-Help Groups (SHGs) as gendered grassroots institutions that mediate between informal social structures and formal financial systems in emerging rural markets. Using empirical evidence from Bokaro district in Jharkhand, India, the study examines how SHGs reshape women’s economic capabilities, financial agency, and social positioning within households and community institutions. Drawing on a mixed-methods research design, quantitative indicators of empowerment were analysed using SPSS, while qualitative narratives were thematically examined using NVivo to capture process-oriented dimensions of agency and institutional interaction. The findings reveal that SHGs extend far beyond microfinance functions, operating as enabling institutions that discipline financial behaviour, facilitate collective risk-sharing, and expand women’s substantive freedoms. By embedding SHGs within an institutional–capability framework, the paper contributes to emerging markets scholarship by offering a nuanced understanding of women-centric development pathways in peripheral market environments.