Reflections on Microfinance: Poverty Nexus From India – An Empirical Inquest

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Author(s): Sovik Mukherjee (Shri Shikshayatan College, India)and Ramesh Chandra Das (Vidyasagar University, India)
Copyright: 2019
Pages: 20
Source title: Handbook of Research on Microfinancial Impacts on Women Empowerment, Poverty, and Inequality
Source Author(s)/Editor(s): Ramesh Chandra Das (Vidyasagar University, India)
DOI: 10.4018/978-1-5225-5240-6.ch009

Keywords: Accounting and Finance / Business & Management / Business Science Reference / Economics & Economic Theory

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Abstract

Microfinance has become the latest buzzword in the credit markets where it shoulders the responsibility of alleviating poverty coupled with socio-economic development. Dealing with microfinance coupled with the issue of poverty reduction, the first concern is to handle the twin objectives of poverty alleviation and achievement of financial self-sufficiency, which are often at loggerheads. To begin with, the present chapter constructs a five-dimensional human poverty index (HPI) in terms of the rate of unemployment, state wise illiteracy rate, state-wise infant mortality rate, state-wise percentage of population below the poverty line, and the percentage of population not having an access to electricity for the states across India. Thus, this will serve as an index for the extent of poverty. Consequently, a fall in the value of the index actually implies poverty alleviation. This empirical model does not justify the hypothesis that “microfinance reduces poverty” at the macro level using cross-state panel data for India.

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Reflections on Microfinance: Poverty Nexus From India – An Empirical Inquest

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