Microfinance, the Market and Political Development in the Internet Age

Jack Barry

Third World Quarterly, 2012, vol. 33, issue 1, 125-141

Abstract: This article steps outside traditional economic analysis of microfinance, and instead investigates the political ramifications of microfinance in developing countries. In particular, I argue that microfinance affects social capital, political empowerment and democratisation. I examine three emerging trends in microfinance: new technology; the rise of for-profit microfinance institutions; and the increase in individual, rather than group microfinance lending. In exploring these trends, I analyse seven prominent institutions: non-profits Kiva, Global Giving, Calvert Organization and MicroCredit Enterprises; and for-profits MicroPlace, MicroVest, and Oikocredit. My findings indicate that different types of microfinance institutions have unique characteristics that influence political development in a variety of ways, including but not limited to: democratisation, social capital, and economic and political empowerment. The article attempts to fill a gap in the literature and open up a conversation as to how differing approaches to microfinance lending influence political development.

Date: 2012
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DOI: 10.1080/01436597.2012.628107

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