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What is Microfinance: Building Development Industries about?

This chapter discusses defining development as "industry building" and the growth of microfinance institutions (MFIs). It argues that the explosive growth of large MFIs serving millions of clients can be viewed as a form of economic development, according to the theories of economist Joseph Schumpeter. However, the chapter also notes that overly rapid growth in microcredit could undermine other financial services like microsavings. It suggests that supporting small businesses may better match Schumpeter

Author

balutansutra

Language

EN