资源描述：
《MicroFinance_literature_review》由会员上传分享，免费在线阅读，更多相关内容在学术论文-天天文库。
1、MICRO-FINANCELiteratureReviewBasedonworkbyEoinWrennforTrócaire,2005WhatIsMicrofinance?Microfinance,accordingtoOtero(1999,p.8)is“theprovisionoffinancialservicestolow-incomepoorandverypoorself-employedpeople”.ThesefinancialservicesaccordingtoLedgerwood(1999)generallyincludesavin
2、gsandcreditbutcanalsoincludeotherfinancialservicessuchasinsuranceandpaymentservices.SchreinerandColombet(2001,p.339)definemicrofinanceas“theattempttoimproveaccesstosmalldepositsandsmallloansforpoorhouseholdsneglectedbybanks.”Therefore,microfinanceinvolvestheprovisionoffinancia
3、lservicessuchassavings,loansandinsurancetopoorpeoplelivinginbothurbanandruralsettingswhoareunabletoobtainsuchservicesfromtheformalfinancialsector.1.Microfinanceandmicrocredit.Intheliterature,thetermsmicrocreditandmicrofinanceareoftenusedinterchangeably,butitisimportanttohighli
4、ghtthedifferencebetweenthembecausebothtermsareoftenconfused.Sinha(1998,p.2)states“microcreditreferstosmallloans,whereasmicrofinanceisappropriatewhereNGOs1andMFIssupplementtheloanswithotherfinancialservices(savings,insurance,etc)”.Thereforemicrocreditisacomponentofmicrofinancei
5、nthatitinvolvesprovidingcredittothepoor,butmicrofinancealsoinvolvesadditionalnon-creditfinancialservicessuchassavings,insurance,pensionsandpaymentservices(Okiocredit,2005).2.TheHistoryofMicrofinanceMicrocreditandmicrofinancearerelativelynewtermsinthefieldofdevelopment,firstcom
6、ingtoprominenceinthe1970s,accordingtoRobinson(2001)andOtero(1999).Priortothen,fromthe1950sthroughtothe1970s,theprovisionoffinancialservicesbydonorsorgovernmentswasmainlyintheformofsubsidisedruralcreditprogrammes.Theseoftenresultedinhighloandefaults,highlosesandaninabilitytorea
7、chpoorruralhouseholds(Robinson,2001).Robinsonstatesthatthe1980srepresentedaturningpointinthehistoryofmicrofinanceinthatMFIs2suchasGrameenBankandBRIbegantoshowthattheycouldprovidesmallloansandsavingsservicesprofitablyonalargescale.Theyreceivednocontinuingsubsidies,werecommercia
8、llyfundedandfullysustainable,andcouldattainwideoutreachtoclie
