The Impact of the Dimensions of Microfinance on Poverty Reduction: Confirmatory Factor Analysis (CFA) via Individual Measurement Models

Dr. J.A Prasansha Kumari
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Dr. J.A Prasansha Kumari: Senior Lecturer, Department of Economics, University of Kelaniya, Sri Lanka

International Journal of Research and Scientific Innovation, 2021, vol. 8, issue 2, 112-121

Abstract: Poverty is one of the main socio-economic issues holding back the development of economic of the underdeveloped countries. Microfinance is financial services provided to poor households of individuals who have no access to formal financial programs. It has been identified as a key mechanism to reduce world poverty in the recent past. With the revolution of the microfinance sector, it has been able to provide a wide range of services. This study aims to observe the extent to which the dimensions introduced in modern microfinance have contributed to the eradication of poverty. Data were collected using Likert scale questionnaire with total of 496 borrowers benefited under Samurdhi Micro Finance programs in Sri Lanka. Collected data analyzed confirmatory factor analysis by using AMOS 21. The factor loading of the individual measurement models were displayed that 38 items were grouped properly in to the 6 constructs which higher than 0.6

Date: 2021
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