Open Access
Subscription Access
Open Access
Subscription Access
Micro-Credit:An Alternative to Development or Development Alternative?
Subscribe/Renew Journal
Micro-credit provides a new institutional arrangement to make development pro-poor and people-centered. This builds up trust, bond and peer competition in the utilisation of locally-mobilised savings. The study indicates that savings-mobilised micro-credit products and services promote both social and economic development. The credit provided through soft loans or microfinance taken from Schdule Commercial Banks (SCBs) and other parastatal institutions would aggravate the problem of rural indebtedness of the poor. The innovative micro-credit products and services can definitively enable the development of social capital and build synergy in the society and in turn lead to social inclusion of women and poor. The social capital formation among the marginalised and vulnerable sections through networks and federation of micro-credit groups increasingly empowers them to undertake appropriate social risk management measures.
Keywords
Micro-Credit, Parastatal Institutions, Rural Indebtedness.
User
Subscription
Login to verify subscription
Font Size
Information
- Asian Development Bank (2000): Finance for the Poor: Micro Finance Development Strategy, Asian Development Bank, Manila.
- Bornschier V, C Christopher and R Richard (1978): “Cross-National Evidence of the Effects of Foreign Investment and Aid on Economic Growth and Inequality: A Survey of Findings and a Reanalysis,” American Journal of Sociology, Vol. 84, No. 3, pp.651-683.
- Deshpande, R S (1993): Impact of Non-Governmental Organizations on Agricultural Development, Gokhale Institute Mimeograph Series No. 36, Gokhale Institute of Politics and Economics, Pune.
- Dorward, A, K Jonathan, M Jamie and P Colin (2005): “Institutions, Markets and Economic Coordination: Linking Development Policy to Theory and Praxis”, Development and Change, Vol. 36, No. 1, pp.1-25.
- Escobar, A (1991): “Anthropology and the Development Encounter: The Making and Marketing of Development Anthropology,” American Ethnologist, Vol. 18, No. 4, pp.658-682.
- _______ (1995): Encountering Development: The Making and Unmaking of the Third World, Princeton University Press, Princeton.
- Figueroa, M E, D C Kincaid, M Rani and G Lewis (2002): Communication for Social Change: An Integrated Model for Measuring the Process and Its Outcomes, The Communication for Social Change Working Paper Series: No.1, The Rockefeller Foundation, New York.
- Foucault, M (1972): The Archaeology of Knowledge, Routledge Publishers, New York.
- Frank, A G (1969): Latin America: Underdevelopment or Revolution: Essays on the Development of Underdevelopment and the Immediate Enemy, Monthly Review Press, New York.
- Griffin, K B and J L Enos (1970): “Foreign Assistance: Objectives and Consequence”, Economic Development and Cultural Change, Vol. 18, No. 3, pp.313-27
- Hoebink, P (1997): “Theorizing Intervention: Development Theory and Development Cooperation in a Globalizing Context” in T Van Naerssen, M Rutten and A Zoomers (eds.), The Diversity of Development: Essays in Honour of Jan Kleinpenning, Van Gorcum, Assen, pp.362-373.
- Hossain, M (1988): Credit for Alleviation of Rural Poverty: The Grameen Bank in Bangladesh, IFPRI Research Report 65, International Food Policy Research Institute, Washington D.C.
- Khandker, S R (2003): Microfinance and Poverty: Evidence Using Panel Data from Bangladesh, World Bank Policy Research Working Paper 2945, World Bank, Washington D.C.
- Moser, C (1996): Confronting Crisis: A Comparative Study of Household Responses to Poverty and Vulnerability in Four Poor Urban Communities, Environmentally Sustainable Development Studies and Monographs Series 8, World Bank, Washington D.C.
- North, D (1990): Institutions, Institutional Change and Economic Performance, Cambridge University Press, Cambridge.
- Pandey, K (2002): Social Mobilization: Concepts and Applications for Poverty Reduction and Self-Governance, Paper Presented in Regional Workshop on Promoting Effective Participation of Civil Society in Local Governance and Poverty Alleviation in the ECIS Region: Challenges and Good Practices, United Nations Development Programme New York.
- Pasinetti L (1962): “Rate of Profit and Income Distribution in Relation to the Rate of Economic Growth”, Review of Economic Studies, Vol. 29, No. 4, pp.267-79.
- Pitt, M M and S R Khandker (1998): “The Impact of Group-Based Credit Programmes on Poor Households in Bangladesh: Does the Gender of Participants Matter?” Journal of Political Economy, Vol. 106, No. 5, pp.958-996.
- Rahman, R I (1996): Impact of Grameen Krishi Foundation on the Socioeconomic Condition of Rural Households, BIDS Working Paper No. 7, BIDS, Bangladesh Institute of Development Studies, Dhaka.
- ---------- (2000): Poverty Alleviation and Empowerment Through Microfinance: Two Decades of Experience in Bangladesh, Research Monograph 20, Bangladesh Institute of Development Studies, Dhaka.
- Robert, H and S Jørgensen (2000): Social Risk Management: A New Conceptual Framework for Social Protection and Beyond, Social Protection Discussion Paper No. 0006, World Bank, Wasington D.C.
- Stephen F and N Rajasekaran (2002): Management Practices Among NGOs in India and Bangladesh: An Empirical Study Focusing on HRD, Search Publications, Bangalore.
- The Economist (1998): “The Other Government in Bangladesh”, The Economist, July 25, p.62.
- United Nations Development Programme (2002): Human Development Report 2002, UNDP, New York.
- Wilson, W J (1987): The Truly Disadvantaged, University of Chicago Press, Chicago, Ill.
- Ziai, A (2004): “The Ambivalence of Post-Development: Between Reactionary Populism and Radical Democracy”, Third World Quarterly, Vol. 25, No. 6, pp.1045-1060.
Abstract Views: 234
PDF Views: 0