MUDRA: Journal of Finance and Accounting
Year : 2014, Volume : 1, Issue : 1
First page : ( 50) Last page : ( 72)
Print ISSN : 2347-4467. Online ISSN : 2395-2598.

Is Microfinance the Panacea for Development? Lessons from the Developing World

Kumar S Krishna¹, Deb Ashis Taru²

¹Lecturer, Sri Venkatswara College, University of Delhi

²Associate Professor, College of Vocational Studies, University of Delhi

Online published on 6 February, 2018.

Abstract

In the contemporary world economy characterised by in-egalitarian tendencies, this paper tries to critically look at the transformations in the sphere of development finance. It tries to develop a critique against the nature of deregulation in the microfinance sector. It argues that there could be no substitute for state intervention in the macro economy towards the provision of public goods like education and health. At best, microfinance could play a supplementary role, and never the role of a substitute.

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Keywords

Microfinance, Development, Deregulation.

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