Economics of Microfinance, The, Armendriz & Morduch

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This clearly written and sharply argued book discusses the different aspects of microfinance and demolishes many myths surrounding it. It explains issues such as group lending, saving and insurance, the role of women, impact measurement, subsidy and sustainability, and management of microfinance with empirical data, citing studies from Asia, Africa and Latin America. It focuses on new developments in economic theories of contracts and incen-tives and points to unanswered questions. At some places, mathematical notation is used to clarify arguments. Each chapter ends with exercises, given for advanced economics students with a knowledge of calculus and a desire for analytical challenge. The book is primarily meant for the undergraduate and postgraduate students of economics and public policy. Researchers practitioners in the field will also find the book useful. Table of Contents PrefaceAbbreviations1. Rethinking Banking2. Why Intervene in Credit Markets?3. Roots of Microfinance: ROSCAs and Credit Cooperatives4. Group Lending5. Beyond Group Lending6. Savings and Insurance7. Gender8. Measuring Impacts9. Subsidy and Sustainability10. Managing MicrofinanceNotesBibliographyName IndexSubject Index