What’s wrong and right with microfinance – missing an angle on responsible finance?
Microfinance as the best way of tackling poverty is under attack. It has been accused of failing to help the poor, of treating its clients badly, of charging high interest rates and of encouraging poor people to take on excessive debt burdens. The authors examine these issues, and find that microfinance institutions (MFIs) can have significant positive impacts, including democratisation of banking services, provision of secure savings facilities for poor people, and social benefits, particularly for women. The paper looks at the way forward for microfinance, suggesting some changes that need to be implemented by MFIs, banking authorities and governments.
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- Arun, Thankom Gopinath & Bendig, Mirko, 2010. "Risk Management among the Poor: The Case of Microfinancial Services," IZA Discussion Papers 5174, Institute for the Study of Labor (IZA).
- Katsushi S. Imai & Samuel Kobina Annim, 2010.
"Microfinance and Household Poverty Reduction: New evidence from India,"
Discussion Paper Series
DP2010-14, Research Institute for Economics & Business Administration, Kobe University.
- Imai, Katsushi S. & Arun, Thankom & Annim, Samuel Kobina, 2010. "Microfinance and Household Poverty Reduction: New Evidence from India," World Development, Elsevier, vol. 38(12), pages 1760-1774, December.
- Katsushi Imai & Thankom Arun & Samuel Kobina Annim, 2010. "Microfinance and Household Poverty Reduction: New evidence from India," The School of Economics Discussion Paper Series 1008, Economics, The University of Manchester.
- Hulme, David, 2000. "Impact Assessment Methodologies for Microfinance: Theory, Experience and Better Practice," World Development, Elsevier, vol. 28(1), pages 79-98, January.
- Arun, Thankom, 2005. "Regulating for development: the case of microfinance," The Quarterly Review of Economics and Finance, Elsevier, vol. 45(2-3), pages 346-357, May.
- Coleman, Brett E., 2006. "Microfinance in Northeast Thailand: Who benefits and how much?," World Development, Elsevier, vol. 34(9), pages 1612-1638, September.
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