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Microfinance and Human Development in Kerala

Francis Kuriakose () and Janssen Joseph

MPRA Paper from University Library of Munich, Germany

Abstract: This paper examines how microfinance institutions impact human development indicators using the case of Kerala in southern India. The study uses an institutional approach to understand microfinance institutions with the help of three variables - core activities, total loan portfolio and approach to microfinance. The impact of microfinance institutions on four human development variables namely education, health, income and participation are analyzed. The main conclusion of the study is that microfinance institutions that follow an integrated approach impact human development more than those that follow a minimalist approach. Furthermore, this impact of microfinance institution is due to production functions that generate income and protective function that defends against vulnerability. Therefore, an integrated approach to microfinance has income generating and risk mitigating effects that translate into better human development indicators.

Keywords: Microfinance; Human development; Financial inclusion; Social welfare; Kerala (search for similar items in EconPapers)
JEL-codes: G2 G21 I3 I31 I38 (search for similar items in EconPapers)
Date: 2020-03-14
New Economics Papers: this item is included in nep-fdg, nep-fle and nep-mfd
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