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Fostering Sustainable Complexity In The Microfinance Industry: Which Way Forward?

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  • Emily Chamlee‐Wright

Abstract

The microfinance movement has gained tremendous popularity over the past 30 years, but it is still far from meeting its full potential. The industry stands at a crossroads between increased commercialisation and increased philanthropic aid. Standard economic discourse does little to resolve the debate. F. A. Hayek's concept of the‘extended order’ sheds new light on how we might understand the future development of microfinance.

Suggested Citation

  • Emily Chamlee‐Wright, 2005. "Fostering Sustainable Complexity In The Microfinance Industry: Which Way Forward?," Economic Affairs, Wiley Blackwell, vol. 25(2), pages 5-12, June.
    • Handle: RePEc:bla:ecaffa:v:25:y:2005:i:2:p:5-12
    DOI: 10.1111/j.1468-0270.2005.00544.x
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    References listed on IDEAS

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    1. Lamoreaux, Naomi R., 1986. "Banks, Kinship, and Economic Development: The New England Case," The Journal of Economic History, Cambridge University Press, vol. 46(3), pages 647-667, September.
    2. Morduch, Jonathan, 2000. "The Microfinance Schism," World Development, Elsevier, vol. 28(4), pages 617-629, April.
    3. Jonathan Morduch, 1999. "The Microfinance Promise," Journal of Economic Literature, American Economic Association, vol. 37(4), pages 1569-1614, December.
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    Cited by:

    1. Emily Chamlee-Wright & Justus Myers, 2008. "Discovery and social learning in non-priced environments: An Austrian view of social network theory," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 21(2), pages 151-166, September.
    2. Overa, Ragnhild, 2006. "Networks, distance, and trust: Telecommunications Development and changing trading practices in Ghana," World Development, Elsevier, vol. 34(7), pages 1301-1315, July.

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