Introduction and Overview: An Inquiry into the Mismatch in Microfinance

Beatriz Armendariz de Aghion () and Marc Labie

Chapter 1 in The Handbook of Microfinance, 2011, pp 3-13 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractMicrofinance — a set of financial practices designed to serve the unbanked poor — is seen by some as a magic wand against poverty that is supposed to solve it all. For others, microfinance is no more than a new wave of usurious practices reframed and glorified. These extreme views can, to a certain extent, be validated by convincing stylised facts, case studies, and, in some instances, by rigorous academic research. From our standpoint, however, the reality is to be found in nuances and perspectives. As it is often said: “The devil is in the details”. Our main objective in this handbook is thus to present some of the most recent findings and research in microfinance in order to build, step by step, a nuanced perspective of microfinance where positive and negative aspects can be looked at in an attempt to deliver an objective and balanced view via a collection of articles. While these might at first glance seem scattered — reflecting polarised views and controversies at times — our stand is that the entire set of articles contained in this handbook is strongly linked to one single idea, which we have coined “mismatch”. Our choice is more than pure semantics, as it will recurrently surface in the reminder of this introduction…

Keywords: Microfinance; Poverty; Microcredit; Informal Markets; Microsavings; Microinsurance; Social Responsibility; Randomized Impact Evaluations; Ethics; Gender; South Asia; Latin America; Africa (search for similar items in EconPapers)
Date: 2011
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