Microfinance and economic development / Robert J. Cull, Jonathan Morduch, Grupo Banco Mundial.

Format:

Book

Author/Creator:

Cull, Robert J., author.

Morduch, Jonathan, author.

Banco Mundial, Grupo, author.

Series:

Policy Research Working Paper ; 8252.

Policy Research Working Paper ; 8252

Language:

English

Subjects (All):

Economic development.

Physical Description:

1 online resource (43 pages).

Place of Publication:

Washington, District of Colombia : World Bank, 2017.

Summary:

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.

Notes:

Description based on publisher supplied metadata and other sources.

Publisher Number:

10.1596/1813-9450-8252