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Can Microfinance Reduce Economic Insecurity and Poverty? By How Much and How?

Author

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  • Nazrul Islam

Abstract

The paper suggests that, rather than through its narrow, direct financial impact, microfinance may prove to be more potent in reducing insecurity and poverty through its indirect, broader impact leading to a more egalitarian initial endowment distribution that is necessary for the "take-off" of an equitable growth process. The paper begins by examining the distinctive roles of micro credit, micro savings, and micro insurance programs in dealing with poverty and insecurity, and highlights the complementariness that exists among these programs and how this complementariness can be used to overcome the weaknesses of the individual programs.

Suggested Citation

  • Nazrul Islam, 2009. "Can Microfinance Reduce Economic Insecurity and Poverty? By How Much and How?," Working Papers 82, United Nations, Department of Economics and Social Affairs.
  • Handle: RePEc:une:wpaper:82
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    File URL: http://www.un.org/esa/desa/papers/2009/wp82_2009.pdf
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    Cited by:

    1. repec:unu:wpaper:wp2012-78 is not listed on IDEAS
    2. Quibria, M. G., 2012. "Microcredit and Poverty Alleviation: Can Microcredit Close the Deal?," WIDER Working Paper Series 078, World Institute for Development Economic Research (UNU-WIDER).

    More about this item

    Keywords

    Poverty; Economic insecurity; Micro credit; Micro savings; Micro insurance; Micro finance; Non Government Organizations (NGO);

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements

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