Contextualising microfinance research

Par Arvind Ashta
The story of microfinance is the story of innovations and constant evolution in both practice and research.Microcredit is a new form of lending to the poor, hailed as a social innovation of the 1970s, resulting in loans to over 205 million people in 2010 (Maes, Reed, 2012) and impacting about a billion people (taking a family size of five). Figure 1 below illustrates the evolution of microcredit: the...
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