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Purpose: Micro-finance has a significant role in the better performance of micro, small and medium enterprises (MSMEs). This study aims to provide a comprehensive picture of the existing literature on the role of micro-finance and its approaches in MSMEs. Design/methodology/approach: This work performs a bibliometric analysis using a data set of 631 articles collected from the Scopus database. The Bibliometrix R package and Vosviewer are used to conduct performance analysis and scientific mapping. Performance analysis shows the publication trend, key authors, journals and top influential articles. Science mapping through a bibliographic coupling network of documents is prepared to discover the intellectual structure of the field. Findings: This review has identified the four major themes: access to finance and schemes, women empowerment and poverty alleviation, the performance of micro-finance institutions and recent development in micro-financial institutions. With the help of these research themes, the paper also highlights future research agendas. Originality/value: This paper enriches the understanding of the role of micro-finance services in performance of entrepreneurship with the bibliometric review of top contributors. [ABSTRACT FROM AUTHOR]

Abstract Microfinance is critical for the development of micro-enterprises and alleviating poverty. However, micro-enterprises are able to get microfinance services, they would face a variety of obstacles, due to the misunderstandings among many stakeholders, microfinance has not acquired widespread acceptance. Therefore, the purpose of this study is to investigate microfinance's impact on the sustainable development of Malaysia’s rural micro-enterprises. Besides, digital finance is integrated into the conceptual model to further investigate their mediating impact. Data was collected from 563 rural micro-enterprises using structured questionnaires, which were then statistically analyzed using AMOS-21. The findings of the study reveal that microfinance has a positive substantial influence on rural micro-enterprises development. Moreover, digital finance partially mediates the relationship. Thus, the study concludes that microfinance institutions are needed to adopt digital finance to enhance micro enterprises’ productivity through low transaction costs. The findings of the study can be useful to policymakers in the micro-enterprise sector who have a long-term vision and expect the sector to develop steadily. The study also provides scope and space for future academics and scholars to conduct further research.

Facilitating entrepreneurship through micro-credit, micro-franchise, and micro-consignment potentially helps to alleviate desperate poverty. However, the effectiveness of these facilitators have varied from positive outcomes of poverty alleviation to negative outcomes of increased debt. Therefore, we seek to understand: how and why are different facilitators of entrepreneurial activity at the Base of the Pyramid (BOP) relatively more effective at alleviating poverty? Building on the foundation of person-entrepreneurship fit, we introduce the construct of person-facilitator fit and develop propositions about how and why the fit between entrepreneurs and the different facilitators of entrepreneurship may influence poverty alleviation. Specifically, using a remediation perspective, we explicate how the demands-abilities and needs-supplies fit between an entrepreneur and the different facilitators of micro-credit, micro-franchise and micro-consignment moderates the likelihood of poverty alleviation and how person-facilitator fit moderates the magnitude of poverty alleviation over time. We offer theoretical and practical implications of our framework for different perspectives (remediation, reform, and revolution) on entrepreneurship and poverty alleviation. [ABSTRACT FROM AUTHOR]

Empowerment has been treated as one of the influential poverty alleviation strategies of the day. Various microfinance institutions have emerged with the objective to enhance empowerment, especially for women through different assistance programs. This study attempts to explore the impact of microfinance institutions towards the economic, social, and psychological empowerment of women borrowers using primary data collected through a structured questionnaire from the backward districts of West Bengal, India. In addition, the study also tries to identify the important determinants of empowerment among such borrowers. Applying t-test, logistic, and ordered logistic regression it has been observed that Microfinance Institutions (MFIs) have a significant role towards betterment in the standard of living and empowerment of such women borrowers. [ABSTRACT FROM AUTHOR]

Evidence suggests that smallholders are fast becoming one of the largest micro-credit recipient groups in Bangladesh. However, the literature on the effects of micro-credit use among smallholders is surprisingly deficient. This article seeks to rectify this gap by highlighting the ramifications of micro-credit's foray into the subsistence agriculture sector. It analyses the ostensibly disparate processes of mounting smallholder indebtedness and the phenomenal rise of micro-finance institutions in Bangladesh in light of the country's broader context of agricultural commoditisation, input subsidy reduction and a systematic lessening of the subsidised agricultural credit system. The article uses the concept of "accumulation by dispossession/encroachment" to argue that persistent borrowing from micro-finance institutions (MFIs) exposes smallholders to the risks and volatilities of the market. Using qualitative insights from a case study of three villages, it demonstrates how the capital accumulation model of Bangladeshi MFIs marginalises smallholders and ensnares them in a perpetual cycle of debts. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Small Business & Entrepreneurship is the property of Routledge and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Review of African Political Economy is the property of Review of Political Economy (ROAPE) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The study was conducted to find out the effects of Khushhali Bank loans on economic conditions of families in rural Lahore. Data was collected from the four rural Union Councils of Lahore. Stratified random sampling technique was adopted and 202 respondents of three types of loan (agriculture, livestock & enterprise) including both female and male (50 % each) in the age group of 18- 58 years were selected. Quantitative data was collected through interviewing schedule. Descriptive as well as statistical analysis (averages and correlation) was applied. The results indicated improvement in the monthly income of the borrowers. As in rank coefficient of correlation positive relationship was found in income (0.35) before and after loan. Repayment rate is high (93 %) in the area. The results show that the loan was a source of support for the families. [ABSTRACT FROM AUTHOR]

This study intends to examine the effect of economic vulnerability on participation in development initiatives, household income, micro-enterprise income and net worth of microenterprise asset among low-income households in the state of Kelantan, Malaysia. Adopting a cross-sectional design, this study collected data from randomly selected 450 micro-entrepreneurs who were being served by three major development organizations in Kelantan, Malaysia. The findings revealed that the level of economic vulnerability among the respondents had a significantly negative effect on the participation of development initiatives, household income, micro-enterprise income and the net worth of microenterprise asset among the low-income Kelantanese households. This study provided insights for a comprehensive policy formulation for rural development as it identified program participation issues and gaps faced by the targeted cohort, which if effectively addressed can lead to an increase in participation in development programs, together with household and micro-enterprise income and assets, among the low-income economically vulnerable households in Kelantan, Malaysia. [ABSTRACT FROM AUTHOR]

The goal of this paper is to examine the question--'Does income earned by members of women's self-help groups (SHGs) through micro-credit programs empower them?' The nature of the topic dictates the use of cross-sectional survey technique and comparative analysis to determine the levels of women empowerment before and after joining SHGs. A five-point Likert-type scale was developed, for which Cronbach's alpha reliability coefficient was observed to be 0.824. The survey instrument contained four sections, namely, income and expenditure; savings and borrowing amounts; financial freedom; and, capacity building and awareness levels. A sample group consisting of 114 participants of SHGs responded to the survey instrument. The t-test results for mean values before and after joining SHGs showed a significant change in levels of women empowerment in all the four areas. The prime reason for this empowerment was joining SHGs and using micro-credit programmes. It becomes apparent from this research that joining SHGs, and consequently, getting access to financial services increased the ability of poor women to control their savings and generate income from their occupation. They also experienced a greater decision-making role in their families and in local society, enhanced levels of self-confidence, self-efficacy and self-esteem, and heightened freedom of mobility to increase business and social activities outside home. [ABSTRACT FROM AUTHOR]

Khushali Bank Limited (KBL) is one of the micro-credit organizations in Pakistan which are extending micro-credit services to small farmers with the aim to increase agricultural productivity and income of farmers. This study was conducted with the aim to assess the effects of micro-credit programme of KBL on agricultural productivity in district Mardan in Khyber Pakhtunkhwa Province of Pakistan. The study was conducted in three purposively selected villages namely; Nasir Kaly, Shankar and Kodeenaka. From the field surveys, it was found that majority of the respondents were smallholders or tenants. After procuring and properly utilizing credit, the yield of the major crops such as wheat, maize, and sugarcane and the resultant income of the respondents exhibited significant increase, as confirmed by higher t-values. The study concludes that the socio-economic conditions of the farmers can be improved if credit programme is extended which could benefit all farmers in the area. [ABSTRACT FROM AUTHOR]

The paper aim is to identify the impact of start-up capital on the development of women's enterprises as well as to study the effect of using the start-up capital on the family welfare and standard of living and discuss the problems and constraints that face women enterprises. The researcher used qualitative questionnaire to collect data on a purposive sample of 100 women who benefit from the start-up capital. The majorities of women entrepreneurs are illiterate or have basic education. Women entrepreneurs contribute to the sustainable livelihood of their families and communities. Microfinance helps empower women from poor households to make this contribution. Access to start-up capital increases the income of women entrepreneurs. Women have been shown to spend more of their income on their households, therefore, when women are helped to increase their incomes, the welfare of whole family is improved. Women's increased income benefits their children, particularly in education, diet, health care, and clothing. [ABSTRACT FROM AUTHOR]

Microcredit has been found to be an intervention to improve the livelihood of women micro entrepreneurs in developing countries. It is often used as an attractive strategy to enhance the livelihoods of women as it provides micro entrepreneurs with the avenue to generate more income. The study focused on the effect of micro credit on rural households' livelihood: evidences from women micro entrepreneurs in Oyo State, Nigeria. A descriptive survey design was adopted and 180 beneficiaries of microcredit were used. The result of the study revealed that microcredit had a positive effect on household income and welfare which led to improvement in the standard of living and opportunity to save money. The women micro entrepreneurs were able to contribute significantly to their children's education improve the quality of meals intake and employment and housing conditions of their households. The microcredit scheme also contributed to beneficiaries' development, sustainability and local governance participation. Above all, the respondents felt empowered. It is therefore concluded that those concerned with availing funds in form of microcredit and microfinance in general should take into consideration the results of these indicator variables for better livelihood of rural households. [ABSTRACT FROM AUTHOR]

The paper uses two rounds of survey to examine the relative returns to micro-credit for small-scale businesses in two regions of Ghana. Propensity scores matching and the nearest neighbour matching are used to assess the return to micro-loans on retail businesses of clients and non-clients. Micro-credit impacts on sales, stock, expenses and profit for clients as compared with non-clients. Women-owned businesses produce higher returns from micro-credit than men-owned businesses. Individual and enterprise characteristics influence access to micro-credit. The paper offers policy recommendations to microfinance institutions on whom and which business activity to give credit. Copyright © 2015 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to test whether there is higher return rate of investment for poor farmers than for un-poor farmers and to discuss its implication for poverty reduction microcredit rate policy. Design/methodology/approach – By using the household-level data of six provinces of China, farmer household production function is used in this paper to estimate the investment return rate of farmer. Findings – The paper indicates that regardless which kind of grouping standard is adopted, the investment return rates of poor farmer households in general are far lower than the non-poor. In general, the richer a farmer household, the higher is the return rate of his household productive operations. Practical implications – The study of this paper reminds policy makers that poverty reduction microcredit rate should really take endurance capacity of poor farmers for credit rate into accounting because of the low return rate of their family investment. Exorbitant credit rate should be avoided to protect the credit right of poor farmers. Originality/value – There is seldom study on the comparison of return rates of family operation investment between poor and un-poor farmers; there is also unenough empirical study on the rationality of high interest rate on poor households from the return rate of investment point of view. The authors expect this paper will have some contribution on these two points. [ABSTRACT FROM AUTHOR]

The paper studies the effect of a law that banned micro-credit lending in the state of Andhra Pradesh in India. Regions in Andhra Pradesh are matched to regions that did not face the ban. A difference-in-difference estimation of changes in matched regions is used to establish a causal impact on average household consumption in the region. The results show that the average household consumption in the ban-affected regions dropped by 15% immediately after the ban compared to the matched regions, and persisted for four quarters. The result is robust to cross-sectional variations in regional exposure to micro-finance prior to the ban, variation in rural and urban locations and variations in matching strategy. The analysis points to a ban as a sub-optimal intervention to improve customer welfare. [ABSTRACT FROM AUTHOR]

Copyright of Mercados y Negocios is the property of Universidad de Guadalajara, Centro Universitario de Ciencias Economico Administrativas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Academic and political discussions about micro-finance have been found lacking in predictive power, because they are based on orthodox economic theory, which does not properly comprehend the social components of credit. I take a better approach, utilizing credit theory - specifically, Ingham's explication of how the nature of money as credit leads to social inequality. I also expound the perspective that morality is not separate from considerations borrowers make in micro-finance programmes on the micro level. I draw upon illustrations from my fieldwork in rural China, where a group-lending micro-finance programme was administered as part of a larger government-initiated effort across the country. [ABSTRACT FROM AUTHOR]

Copyright of Asian Journal of Women's Studies is the property of Routledge and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Access to finance has become increasingly difficult, particularly for new and service-based industries without tangible assets to use as security. Globally, credit guarantee schemes (CGS) are seen as important instruments to facilitate achievement of national economic goals, as they enable entrepreneurs to gain access to finance for venture creation and development. We reviewed CGS literature between 1990 and early 2011. We discovered largely descriptive studies on the various conditions of the guarantees, and considerable research gaps. The desirability of CGS appears to be assumed whilst measurement of CGS performance provides ambiguous results. We recommend research in a variety of areas including: identification of factors that minimise risk, the impacts of varying risk sharing ratios, unintended CGS consequences, reporting the social dimensions, valuing intangibles, default rates in Asian countries, and collateral in a knowledge based economy. [ABSTRACT FROM AUTHOR]

Summary: Microfinance is seen as a key development tool, and despite the current deepening crisis within the industry, it continues to grow in sub-Saharan Africa. We systematically reviewed the evidence of the impacts of micro-credit and micro-savings on poor people in sub-Saharan Africa. We considered impacts on income, savings, expenditure, and the accumulation of assets, as well as non-financial outcomes including health, nutrition, food security, education, child labor, women’s empowerment, housing, job creation, and social cohesion. The available evidence shows that microfinance does harm, as well as good, to the livelihoods of the poor. [Copyright &y& Elsevier]

This paper is based on a systematic review of evidence of the impact of microfinance on the lives of poor women, men and children in sub-Saharan Africa. It focuses specifically on longer-term non-financial outcomes related to health and nutrition and education. The paper contrasts microfinance's early days' initially refreshing and encouraging promises of a development initiative that empowers people to help themselves while 'paying for itself' with a more gloomy picture that derives from the synthesis results of our systematic review. It presents two simple models that show the pathways from microfinance to increased investment in improved health and education, contrasting theory with our synthesis results. Our discussion highlights that thinking through microfinance makes it necessary to thoroughly investigate both the theory behind interventions and the evidence for their impact. It raises the essential question: Is microfinance about providing banking services to the unbanked, or is microfinance a development intervention that concerns itself with the attainment of long-term sustainable responses to high levels of poverty? [ABSTRACT FROM AUTHOR]

The paper discusses the Sustainable Livelihood Approach (SLA) as implemented by a Catholic Church development organisation (Diocesan Development Services; DDS) in Nigeria, including the trade-offs involved and the meaning of 'success' with this process. SLA sets out to assess the ability of a social unit to enhance its assets and capabilities in the face of shocks and stresses over time and could be said to be a practical framework for evidence-based intervention. DDS implemented an SLA to help provide the basis for changes planned to an existing intervention, namely micro-credit. Given the challenges involved in SLA, DDS decided upon a number of trade-offs to balance the significant cost in resource against what it was looking for from the process. The first driver was a perceived need from DDS to provide quality evidence to help plan changes to its micro-credit scheme. The evidence gained from the SLA was also intended to help provide credibility when approaching major donors for support with the scheme. Secondly there was a desire to use the SLA as a means to identify and work with a group of households in an area where DDS had little prior experience on the assumption that these households could form the basis for a wider involvement with the community. [ABSTRACT FROM AUTHOR]

I argue that micro-equity may be used to complement or substitute micro-credit programmes, which involve lending rather than risk sharing. By becoming a stockholder in the micro-enterprise rather than a lender, the micro-equity provider is in a more tightly coupled relationship, providing knowledge and guidance necessary for ensuring success of the venture. Moreover, I show that while micro-credit financing places a heavy cash drain on micro-enterprises and leads to sub-optimal growth during the course of the evolution of the micro-enterprise, the mix of micro-equity with micro-credit may prove to be more valuable to nurture the sustainable growth of micro-enterprises. [ABSTRACT FROM AUTHOR]

Pakistan is facing twin challenges for revival of the economy and reduction in rural poverty. For this purpose the government has introduced number of initiatives, of which micro credit is very important. Moreover, about 52 percent of population is women folk, hence revival of economy and rural poverty reduction is almost impossible without their involvement. The present research was conducted at Technology Transfer Institute (PARC), AARI, Faisalabad during 2008-09 to find out the impact of micro-credit scheme implemented under Punjab Rural Support Programme (PRSP) on the socio-economic conditions of female population in the rural areas of district Faisalabad. Sample size of 120 women was taken randomly from the community organizations (COs) supervised by the PRSP. Primary data were collected through personal interviews with well-designed and pre-tested questionnaire. As a result of micro credit activity, livestock population at farm and landless families has increased significantly. About 27 percent females reported betterment in their social status in their family system as well as in village due to income generation activity triggered by micro-credit. Similarly, betterment in household consumption was also noticed both in farmers and landless families. [ABSTRACT FROM AUTHOR]

Abstract: Large numbers of households in rural areas in Bangladesh have no access to electricity. Providing these households with electricity by extending the country’s already overloaded grids is neither an economically nor a technically feasible option. Rural electrification strategies therefore, by necessity, need to rely on stand-alone generation systems. One of these is solar home systems (SHS) and the SHS program developed and implemented in Bangladesh has been highly successful, with very large numbers of rural households now participating in the program. What makes the program’s success most remarkable is the fact that it targets households with very low incomes using a purely market-based approach. Those participating in the program pay the full, unsubsidised cost of their SHS using a micro-credit loan facility and are charged high interest rates. Understanding the reasons behind the success of the Bangladeshi program therefore holds potentially valuable lessons for SHS programs being implemented in other developing countries. A comprehensive qualitative and quantitative survey was used to find those factors perceived by program stakeholders as being most critical to the program’s success to date and the factors considered most likely to impact on its future success. The two primary reasons for the program’s success were perceived to be its strong focus on meeting householders’ needs and on its ability to make the solar home systems as affordable as possible. The continued success of the program was considered likely to be determined by a variety of factors, including the ability of program implementers to control increases in the cost of SHS, to maintain the quality of SHS and components and to increase program loan recovery rates, the degree to which the program is integrated into national, energy policy, and the degree to which local banks become involved in the program. [Copyright &y& Elsevier]

Geographical development economics as reflected in the recent report by World Bank (2009) Reshaping Economic Geography (henceforth WDR-2009) and Sachs' (2005) End of Poverty has placed geographical factors of distance and density at the core of economic development. However, development geography has largely moved beyond a paradigm of modernity. This article seeks to narrow the above disciplinary divide and suggests that explanations of distance and density are not irrelevant but will need to be better integrated to local knowledge, practices and power relations in development schemes which are valued by development geographers. The latter is examined in the context of micro-credit programmes in two lagging areas, Soc Son and Vinh Loc, in northern Vietnam. Drawing from interviews and surveys of 160 female participants, we show that micro-credit, WDR-2009 and Sachs' geographical variables significantly affect poverty levels. However, qualitative interviews also reveal that the effects of distance, density and micro-credit schemes are constituted differently in the two areas. Relative to their Vinh Loc counterparts, Soc Son's participants experience less distance and density problems but are confronted with greater vulnerability to coercive relations of rule. In contrast, the approach to rule in the more geographically distressed area of Vinh Loc is underscored by flexibility and compromise which seek to cultivate conditions that sustain local livelihoods. [ABSTRACT FROM AUTHOR]

Copyright of Revue Tiers Monde is the property of Librairie Armand Colin and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study aimed to develop more understanding around three main concepts: microfinance, micro-small enterprises and human capital. The purpose was to find the links and relationships between the concepts and to determine how microfinance supports micro-small enterprises and the impact of the gains from micro-small enterprises operation on expenditure on human capital. The study targeted women-owned micro-small enterprises within Khartoum State. The study followed a qualitative interpretive perspective and applied the grounded theory methodology. Accordingly, 'theoretical sampling' and the 'constant comparative' techniques were used. In-depth unstructured interviews were conducted with women entrepreneurs in traditional and non-traditional types of ventures. Data analysis followed the grounded theory coding techniques, building categories and identifying the relationships between them to formulate concepts that help informing about the main research questions. The findings revealed that all the studied group of women entrepreneurs within urban settings of Khartoum State utilize some form of informal microfinance/micro-credit services, predominantly personal lending and rotating saving and credit groups. It was also revealed that these women entrepreneurs spend their earned income mainly on family well-being, children health and education which are basic components of human capital. In addition, women entrepreneurs gain more skills and knowledge ultimately leading to the improvement of their human capital. This study concludes that microfinance informal services provides support to women micro-small enterprises and enables them to contribute to human capital development, of their children, of other family members and of the entrepreneur herself. [ABSTRACT FROM AUTHOR]

This article is an ethnographic study of the effects of micro-credit on gender relations in rural Bangladesh. Focusing on the 2006 Nobel Peace Prize winner, the Grameen Bank of Bangladesh and three other leading non-governmental organizations (NGOs) in the country, I analyze the role of gender in the expansion of globalization and neoliberalism in Bangladesh. The Grameen Bank has become a global symbol of poor women's empowerment and is celebrated for its 98 percent loan recovery. In this article, I examine some of the NGO tactics behind the loan recovery programs. In particular, I examine how Bangladeshi rural women's honor and shame are instrumentally appropriated by micro-credit NGOs in the furtherance of their capitalist interests. [ABSTRACT FROM AUTHOR]

This paper presents the results of an analysis of a government-led microcredit initiative in the state of Tabasco. It incorporates the viewpoints of various government employees who were involved in the initiative's design and responsible for the offices and field staff who implemented it, and especially the viewpoints of the women who were the beneficiaries of the program. Thus, the program operation and the women's perspective of its impact are reconstructed. The information contained in the text stems from a review of the guideline documents of the program, structured, semi-structured and in-depth interviews with the women beneficiaries, government employees, the operating and coordinating staff of the offices, and intermediary finance administrators. [ABSTRACT FROM AUTHOR]

This paper examines empirically the impact of micro-credit on poverty in Bangladesh. Unlike previous studies, the focus is on both objective and subjective poverty and particular attention is paid to the length of time programme participants have had access to micro-credit. A household-level survey (N = 954) was carried out, collecting information about micro-credit recipients from Grameen Bank, the Bangladesh Rural Advancement Committee and the Association of Social Advancement. Our two main findings are, first, micro-credit is associated with both lower objective and subjective poverty and, secondly, the impact of micro-credit on poverty is particularly strong for about six years with some levelling off after that point. [ABSTRACT FROM AUTHOR]

• We present a theoretical model of spousal bargaining using Rotating Savings and Credit Association (ROSCA) membership. • We examine the effect of ROSCAs and exogenous micro-credit on women's empowerment in India. • ROSCA increases regular cash flow for women by 1.7 percentage points (pp) and property ownership by 3.3 pp. • We find ROSCAs to be better than exogenous micro-credit schemes in increasing women's socio-economic autonomy. • Endogenous micro-credit could be critical for financial inclusion of women in developing countries. This study examines the effects of Rotating Savings and Credit Associations (ROSCAs) on women's socio-economic freedom and autonomy at the national level in India. We compare ROSCAs to agency based micro-credit schemes and analyze their effects using nationally representative longitudinal gender-disaggregated data from 2005 to 2012. Building on a theoretical model of household savings and spousal bargaining power, we use individual fixed effects and instrumental variable regressions to test the theoretical predictions. Results show that ROSCA membership increases the likelihood of women's cash in hand for expenditure by 1.7 percentage points, say in major purchase decisions by 3.9 percentage points and fertility choice by 4.7 percentage points. These margins exceed those for exogenous micro-credit schemes and are robust to sensitivity tests. This study is the first to contrast ROSCAs with other micro-credit schemes at the national level. We propose scaling up and associating longstanding ROSCAs with self-help groups for more inclusive development. [ABSTRACT FROM AUTHOR]

In micro-lending markets, lack of recorded credit history is a significant impediment to assessing individual borrowers' creditworthiness and therefore deciding fair interest rates. This research compares various machine learning algorithms on real micro-lending data to test their efficacy at classifying borrowers into various credit categories. We demonstrate that off-the-shelf multi-class classifiers such as random forest algorithms can perform this task very well, using readily available data about customers (such as age, occupation, and location). This presents inexpensive and reliable means to micro-lending institutions around the developing world with which to assess creditworthiness in the absence of credit history or central credit databases. [ABSTRACT FROM AUTHOR]