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Can Microcredit and Job Under NREGS Jointly Bring More Happiness to the Villagers?

Author

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  • Kundu, AMIT

Abstract

This paper aims to investigate whether access to microfinance loan and job under National Rural Employment Guarantee Scheme (NREGS) have any significant impact to bring life satisfaction as well as happiness, an important well-being indicator to the villagers of West Bengal. Here we consider microfinance system under individual liability loan contract and joint liability loan contract separately. This paper shows participation in microfinance programme, size of microcredit and more number of man-days of getting job under NREGS bring more happiness to the village people. It is also established that members of Self-Help Group under SGSY scheme become happier in compare to members of VSSU a microfinance system operating on the basis of individual liability loan contract. This is because most of the members under SGSY scheme are women and that of VSSU are men and the members of Self-Help Group under SGSY scheme have become much more empowered after joining the microfinance programme through forming Self-Help Group.

Suggested Citation

  • Kundu, AMIT, 2010. "Can Microcredit and Job Under NREGS Jointly Bring More Happiness to the Villagers?," MPRA Paper 29589, University Library of Munich, Germany, revised 15 Dec 2010.
    • Handle: RePEc:pra:mprapa:29589
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    References listed on IDEAS

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    1. Oswald, Andrew J, 1997. "Happiness and Economic Performance," Economic Journal, Royal Economic Society, vol. 107(445), pages 1815-1831, November.
    2. Blanchflower, David G. & Oswald, Andrew J., 2004. "Well-being over time in Britain and the USA," Journal of Public Economics, Elsevier, vol. 88(7-8), pages 1359-1386, July.
    3. Javier Herrera & Mireille Razafindrakoto & François Roubaud, 2006. "The determinants of subjective poverty: A comparative analysis between Madagascar and Peru," Working Papers DT/2006/01, DIAL (Développement, Institutions et Mondialisation).
    4. Townsend, Robert M, 1994. "Risk and Insurance in Village India," Econometrica, Econometric Society, vol. 62(3), pages 539-591, May.
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    Cited by:

    1. Adhikari, Tamanna & Greyling, Talita & Rossouw, Stephanie, 2021. "The ugly truth about social welfare payments and households' subjective well-being," GLO Discussion Paper Series 883, Global Labor Organization (GLO).
    2. Bhuiyan, Muhammad Faress & Ivlevs, Artjoms, 2019. "Micro-entrepreneurship and subjective well-being: Evidence from rural Bangladesh," Journal of Business Venturing, Elsevier, vol. 34(4), pages 625-645.

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    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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