Paper $30.95 ISBN: 9781783603749 Published November 2015 For sale in North and South America, Australia, and New Zealand only
Cloth $95.00 ISBN: 9781783603756 Published November 2015 For sale in North and South America, Australia, and New Zealand only

The Crises of Microcredit

Edited by Isabelle Guérin, Marc Labie, and Jean-Michel Servet

The Crises of Microcredit

Edited by Isabelle Guérin, Marc Labie, and Jean-Michel Servet

Distributed for Zed Books

288 pages | 5 x 9 | © 2015
Paper $30.95 ISBN: 9781783603749 Published November 2015 For sale in North and South America, Australia, and New Zealand only
Cloth $95.00 ISBN: 9781783603756 Published November 2015 For sale in North and South America, Australia, and New Zealand only
Microcredit programs, which often give small loans to borrowers in developing countries who lack collateral, have been considered efficient tools for economic development in struggling regions around the world. Yet, recently, microcredit has come under increasing critic by experts who feel that these loans are doing more harm than good by creating a debt trap for borrowers as well as a privatized form of welfare. The Crises of Microcredit brings together distinguished contributors to offer the latest research on the effects of microcredit around the world.
 
Drawing on extensive empirical research, this important volume examines the whole chain of microcredit—from investors and donors to clients— in order to provide a comprehensive analysis of its impact. In doing so, the essays collected here shed light on the many causes of the current microcredit crisis, including microcredit organizations that have been unprepared for massive growth and greedy investors and shareholders attracted by profits. The result is a timely and necessary look at what has become one of the most contentious topics within global economic development.
Contents
Acknowledgments
Glossary of acronyms
Contributor Biographies
Introduction

Part I. Supply
1. Microcredit Crises and Unsustainable Growth: a Management Perspective - Bert D'Espallier, Marc Labie and Philippe Louis
2. Estimating Levels of Credit Market Saturation - Emmanuelle Javoy and Daniel Rozas
3. Microcredit Crises and the Absorption Capacity of Local Economies - Isabelle Guérin and Jean-Michel Servet

Part II. Demand
4. Is the demand for microcredit in rural Tamil Nadu sustainable? - Isabelle Guérin, Cyril Fouillet, Santosh Kumar, Marc Roesch and G. Venkatasubramanian
5. How Good Repayment Performances Can Harm Borrowers: Evidence from the Dominican Republic - Morvant-Roux Solènem, Joana Afonso, Davide Forcella and Isabelle Guérin
6. The social credibility of microcredit in Morocco after the default crisis - Morvant-Roux Solène and Roesch Marc

Part III. Environment
7. Malaise in the Senegalese microfinance landscape - Eveline Baumann, Abdoulaye Fall, Cécile Godfroid
8. No Pago, a Social Movement Against Microcredit Institutions in Nicaragua - Jean-Michel Servet
9. When microfinance collapses: Development and politics in Andhra Pradesh - Picherit David

Conclusion
Review Quotes
Financial Times
“A collection of concise, highly readable essays that explain how and why this activity has gone so wrong in varying social, political and cultural contexts.”
Barbara Harriss-White, University of Oxford
"In this finely structured, well-written, comparativist book, a set of distinguished scholars with rich field experience dissect the many micro-credit crises worldwide to provide better practice for the future."
Milford Bateman, author of Why Doesn't Microfinance Work?
“A deeply informed, intelligent examination of microcredit. A once universally celebrated concept, the contributors point instead to a market-driven Hobbesian world of hyper-competition, with the poor made worse off than ever. An important and convincing read for anyone still seduced by the myths of microcredit.”
LSE Review of Books
“The editors . . . call for a new vision of microcredit: one that sees finance and money as ‘commons’ rather than as externally owned capital. They note that in many historical cases grassroots social movements have managed to improve their lot by founding their own institutions—mutuals and cooperatives—to provide finance locally within a framework of solidarity.  We might see this as a more political approach to microcredit. The editors hope, albeit in a highly tentative way, that microcredit enthusiasts might take lessons from these historically successful models, using local initiatives to work around the failings of externally funded institutions. If microcredit is worth rescuing, this might well be the only way to do it.”
 
Choice
“The contributors' real-world expertise results in a hard-headed but balanced assessment of the pitfalls and promise of microcredit. Recommended.”
 
For more information, or to order this book, please visit http://www.press.uchicago.edu
Google preview here

Chicago Manual of Style |

RSS Feed

RSS feed of the latest books from Zed Books. RSS Feed