Microfinance and the global political economy

Danaan, V

Abstract

Microfinance has evolved as a financial and social innovation aimed at reducing global poverty through socio-economic empowerment of the poor. It has enjoyed a widespread patronage in the global economy in spite of the views held by its critics. Though many impact assessment studies have suggested that there are no convincing evidences to justify the massive interest and investments in microfinance, renowned institutions, politicians, philanthropist and governments have demonstrated commitment to advancing its cause. This paper examines how the global political economy has shaped the development of microfinance. Based on a descriptive analysis and review of related literature, its findings suggest that the major phases of transformation in microfinance have occurred in response to the interests of stakeholders in the global political economy.

• Journal Article Type: Article
• Online Publication Date: Jun 30, 2018
• Publication Date: Jun 30, 2018
• Deposit Date: Apr 15, 2019
• Journal: International Journal of Arts and Social Science
• Electronic ISSN: 2581-7922
• Volume: 1
• Issue: 1
• Publisher URL: http://www.ijassjournal.com/e1x1.html
• Related Public URLs: http://www.ijassjournal.com/index.html