The Economics of Microfinance

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MIT Press, 2007 - 346 Seiten
4 Rezensionen
The microfinance revolution, begun with independent initiatives in Latin America and South Asia starting in the 1970s, has so far allowed 65 million poor people around the world to receive small loans without collateral, build up assets, and buy insurance. This comprehensive survey of microfinance seeks to bridge the gap in the existing literature on microfinance between academic economists and practitioners. Both authors have pursued the subject not only in academia but in the field; Beatriz Armendariz founded a microfinance bank in Chiapas, Mexico, and Jonathan Morduch has done fieldwork in Bangladesh, China, and Indonesia.

The book provides an overview of microfinance by addressing a range of issues, including lessons from informal markets, savings and insurance, the role of women, the place of subsidies, impact measurement, and management incentives. It integrates theory with empirical data, citing studies from Asia, Africa, and Latin America and introducing ideas about asymmetric information, principal-agent theory, and household decision making in the context of microfinance.
 

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Inhalt

1 Rethinking Banking
1
2 Why Intervene in Credit Markets?
25
ROSCAs and Credit Cooperatives
57
4 Group Lending
85
5 Beyond Group Lending
119
6 Savings and Insurance
147
7 Gender
179
8 Measuring Impacts
199
9 Subsidy and Sustainability
231
10 Managing Microfinance
257
Notes
289
Bibliography
311
Name Index
331
Subject Index
335
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Über den Autor (2007)

Beatriz ArmendAriz is a Lecturer in Economics in the Department of Economics at Harvard University, a Senior Lecturer on leave from University College London, and coeditor of "The Microfinance Handbook".

Jonathan Morduch is Professor of Public Policy and Economics at New York University's Wagner Graduate School of Public Service. He is the coauthor of "The Economics of Microfinance "(MIT Press) and "Portfolios of the Poor: How the World's Poor Live on $2 a Day".

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