Microfinance and Economic Development
Microfinance is generally seen as a way to fix credit markets and unleash the productive capacities of poor people who are dependent on self-employment. The microfinance sector has grown quickly since the 1990s, paving the way for other forms of so...
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| Format: | Working Paper |
| Language: | English |
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World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/107171511360386561/Microfinance-and-economic-development http://hdl.handle.net/10986/28913 |
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okr-10986-289132022-09-19T12:17:35Z Microfinance and Economic Development Cull, Robert Morduch, Jonathan MICROFINANCE FINANCIAL INCLUSION POVERTY IMPLICIT SUBSIDY ECONOMIC DEVELOPMENT Microfinance is generally seen as a way to fix credit markets and unleash the productive capacities of poor people who are dependent on self-employment. The microfinance sector has grown quickly since the 1990s, paving the way for other forms of social enterprise and social investment. But recent evidence shows only modest average impacts on customers, generating a backlash against microfinance. This paper reconsiders the claims about microfinance, highlighting the diversity in evidence on impacts and the important (but limited) role of subsidies. The paper concludes by describing an evolution of thinking: from microfinance as narrowly construed entrepreneurial finance toward microfinance as broadly construed household finance. In this vision, microfinance yields benefits by providing liquidity for a wide range of needs rather than solely by boosting business income. 2017-11-30T22:31:34Z 2017-11-30T22:31:34Z 2017-11 Working Paper http://documents.worldbank.org/curated/en/107171511360386561/Microfinance-and-economic-development http://hdl.handle.net/10986/28913 English Policy Research Working Paper;No. 8252 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
MICROFINANCE FINANCIAL INCLUSION POVERTY IMPLICIT SUBSIDY ECONOMIC DEVELOPMENT |
| spellingShingle |
MICROFINANCE FINANCIAL INCLUSION POVERTY IMPLICIT SUBSIDY ECONOMIC DEVELOPMENT Cull, Robert Morduch, Jonathan Microfinance and Economic Development |
| relation |
Policy Research Working Paper;No. 8252 |
| description |
Microfinance is generally seen as a way
to fix credit markets and unleash the productive capacities
of poor people who are dependent on self-employment. The
microfinance sector has grown quickly since the 1990s,
paving the way for other forms of social enterprise and
social investment. But recent evidence shows only modest
average impacts on customers, generating a backlash against
microfinance. This paper reconsiders the claims about
microfinance, highlighting the diversity in evidence on
impacts and the important (but limited) role of subsidies.
The paper concludes by describing an evolution of thinking:
from microfinance as narrowly construed entrepreneurial
finance toward microfinance as broadly construed household
finance. In this vision, microfinance yields benefits by
providing liquidity for a wide range of needs rather than
solely by boosting business income. |
| format |
Working Paper |
| author |
Cull, Robert Morduch, Jonathan |
| author_facet |
Cull, Robert Morduch, Jonathan |
| author_sort |
Cull, Robert |
| title |
Microfinance and Economic Development |
| title_short |
Microfinance and Economic Development |
| title_full |
Microfinance and Economic Development |
| title_fullStr |
Microfinance and Economic Development |
| title_full_unstemmed |
Microfinance and Economic Development |
| title_sort |
microfinance and economic development |
| publisher |
World Bank, Washington, DC |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/107171511360386561/Microfinance-and-economic-development http://hdl.handle.net/10986/28913 |
| _version_ |
1764468015474147328 |