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What's Wrong with Microfinance?

By Thomas Dichter,Malcolm Harper
ISBN: 9781853396670
The authors sound a timely and overdue warning to governments, bankers, donors and the general public and urges people to pause, reassess their expectations, re-think some policies and to recognise that microfinance is never a panacea and may sometimes be actively damaging to its intended customers.
£24.95

What's Wrong with Microfinance? View Jacket

  • Synopsis
    Microfinance has been a long-lived development fashion and in 2005 it enjoyed the accolade of a UN International Year. Many of the world's biggest multinational banks are now eagerly committing quite substantial sums to it, for business as well as public relations purposes. However, there are some important problems which risk being ignored or are fleetingly observed but then swept under the carpet in the current euphoria. The authors sound a timely and overdue warning to governments, bankers, donors and the general public and urges people to pause, reassess their expectations, re-think some policies and to recognise that microfinance is never a panacea and may sometimes be actively damaging to its intended customers. This important book will be of interest to students of microfinance, microfinance practitioners internationally, bankers, government ministries and NGO donor agencies, training institutions, and academics in finance, economics and sociology.
  • Table of Contents
    Introduction 1
    Thomas Dichter
    Part One: Clients
    1. Can microcredit make an already slippery slope more slippery?
    Some lessons from the social meaning of debt 9
    Thomas Dichter
    2. Is microdebt good for poor people? A note on the dark side of
    microfinance 19
    David Hulme
    3. Imagining microfinance more boldly: Unleashing the true
    potential of microfinance 23
    Imran Matin, Munshi Sulaiman and M. A. Saleque
    4. What’s wrong with groups? 35
    Malcolm Harper
    5. Finance begins with savings, not loans 49
    Hugh Allen
    6. ‘Institutionalizing suspicion’: The management and governance
    challenge in user-owned microfinance groups 61
    Susan Johnson and Namrata Sharma
    7. SHGs in India: Numbers yes, poverty outreach and empowerment,
    partially 73
    Frances Sinha
    8. Microfinance and farmers: Do they fit? 83
    Malcolm Harper
    Part Two: Institutions
    9. The moneylender’s dilemma 97
    Kim Wilson
    10. Princes, peasants and pretenders: The past and future of African
    microfinance 109
    Paul Rippey
    11. Microfinance under crisis conditions: the case of Bolivia 121
    Irina Aliaga and Paul Mosley
    12. Methodenstreit and sustainability in microfinance: Generalizations
    describing institutional frameworks 137
    J. D. Von Pischke
    13. Microfinance: Some conceptual and methodological problems 149
    David Ellerman
    14. Learning from the Andhra Pradesh crisis 163
    Prabhu Ghate
    Part Three: Expectations
    15. The chicken and egg dilemma in microfinance: An historical
    analysis of the sequence of growth and credit in the economic
    development of the ‘north’ 179
    Thomas Dichter
    16. A practitioner’s view of the challenges facing NGO-based
    microfinance in Bangladesh 193
    S. M. Rahman
    17. De-industrialization and social disintegration in Bosnia 207
    Milford Bateman
    18. Measuring the impact of microfinance 225
    Richard L. Meyer
    vi CONTENTS
    CONTENTS vii
    19. From microcredit to livelihood finance 241
    Vijay Mahajan
    20. Opportunity and evolution for microfinance 251
    Mary Houghton and Ronald Grzywinski
    Some final thoughts 257
    Malcolm Harper
    Index 261
  • Endorsements
    “ What’s Wrong With Microfinance? unapologetically asks questions that others have been too polite, complacent,
    or uncritical to ask. You don’t have to agree with everything here, or even most of it, to learn a great deal’
    Jonathan Morduch, Professor of Public Policy and Economics, New York University and
    co-author of The Economics of Microfinance
    “ A timely collection of expert treatises questioning the scope of and rationales for microfinance. Specifically aimed
    at giving a reality check at a time when hype around microfinance’s potential has never been greater...”
    Dr Ben Rogaly, Senior Lecturer in Human Geography, University of Sussex, UK
    “ During a stampede it’s useful for someone to ride apart from the herd and speculate about where the multitude
    is going. This book does that for the widely promoted and highly praised microfinance industry...”
    Dr Dale W. Adams, Professor Emeritus, The Ohio State University
    “ This book by microfinance insiders will be invaluable to the enthusiasts as well as the critics not only to reflect on its true
    potential but to also temper the unrealistic expectations that have been triggered by the UN year and the Nobel prize.”
    Sukhwinder Arora, Microfinance Professional
  • Details
    Sub Title N/A
    Author Thomas Dichter,Malcolm Harper
    Editor No
    Number of Pages 288
    Format Paperback / softback
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