eISSN: 2576-4470
Submit manuscript...
Short Communication Volume 2 Issue 3
Microfinance and the global political economy
Victoria Voelwoen Danaan
Received: January 01, 1971 | Published: June 5, 2018
Citation: Danaan VV. Microfinance and the global political economy. Sociol Int J. 2018;2(3):196-199. DOI: 10.15406/sij.2018.02.00049
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.
Keywords: microfinance, financial, development, global political economy, poverty, facilitating, socio-economic, bedrock, alleviation, education, ideological, reduction, strategically, institutions, credit, programme, impressed, foundation, governments, bangladesh, subsidies,crises, experienced, concessionary, funding, building, commercialized, intermediaries
©2018 Danaan. This is an open access article distributed under the terms of the, which permits unrestricted use, distribution, and build upon your work non-commercially.