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The Politics of Resistance: Informal banks in the Caribbean

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  • Caroline Hossein

Abstract

Informal banks are as relevant as they were in slave times because they are creating financial alternatives for marginalized people. I explore this issue with an empirical study of 398 business people in the slums of Jamaica and Guyana. I use intersectionality theorizing to explain that poor women organize local banks as a form of contestation against the threat of violence, partisan and informal politics. Women from poor communities mobilize economic resources through mutual aid to resist dependence on corrupt political systems and exclusionary financial institutions. I argue that the banker ladies reorganize money markets for themselves and others. By organizing inclusive financial programs the banker ladies also build social capital through managing locally-based economic resources. Copyright Springer Science+Business Media New York 2014

Suggested Citation

  • Caroline Hossein, 2014. "The Politics of Resistance: Informal banks in the Caribbean," The Review of Black Political Economy, Springer;National Economic Association, vol. 41(1), pages 85-100, March.
    • Handle: RePEc:spr:blkpoe:v:41:y:2014:i:1:p:85-100
    DOI: 10.1007/s12114-013-9171-9
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    References listed on IDEAS

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    1. Wong, David C, 1996. "A Theory of Petty Trading: The Jamaican Higgler," Economic Journal, Royal Economic Society, vol. 106(435), pages 507-518, March.
    2. Scott, James C., 1972. "Patron-Client Politics and Political Change in Southeast Asia," American Political Science Review, Cambridge University Press, vol. 66(1), pages 91-113, March.
    3. Honig, Benson, 1998. "What determines success? examining the human, financial, and social capital of jamaican microentrepreneurs," Journal of Business Venturing, Elsevier, vol. 13(5), pages 371-394, September.
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    1. Md Aslam Mia & Lucia Dalla Pellegrina & Patrick Damme & Mahinda Wijesiri, 2019. "Financial Inclusion, Deepening and Efficiency in Microfinance Programs: Evidence from Bangladesh," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 31(4), pages 809-835, September.
    2. David Ikwuoche & Adubisi Obinna & Farouk Bilkisu & Adehi Mary, 2020. "Assessing MSMEs Growth Through Rosca Involvement Using Paired t-Test and One Sample Proportion Test," Journal of Social and Economic Statistics, Sciendo, vol. 9(2), pages 30-42, December.

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