The book reports on the yearlong "financial diaries" of villagers and slum dwellers in Bangladesh, India, and South Africa--records that track penny by penny how specific households manage their money. The stories of these families are often surprising and inspiring. Most poor households do not live hand to mouth, spending what they earn in a desperate bid to keep afloat. Instead, they employ financial tools, many linked to informal networks and family ties. They push money into savings for reserves, squeeze money out of creditors whenever possible, run sophisticated savings clubs, and use microfinancing wherever available.
Chapter 1 available in English, French and Spanish.
Type:
Book
Date:
May 2009
Authors:
Daryl Collins, Jonathan Morduch, Stuart Rutherford, Orlanda Ruthven
Country:
Bangladesh; India; South Africa
Research Areas:
Reimagining Financial Access
Themes:
Big Picture
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The book provides an overview of microfinance by addressing a range of issues, including lessons from informal markets, savings and insurance, the role of women, the place of subsidies, impact measurement, and management incentives. It integrates theory with empirical data, citing studies from Asia, Africa, and Latin America and introducing ideas about asymmetric information, principal-agent theory, and household decision making in the context of microfinance. 2nd Edition - Forthcoming 2009
Type:
Book
Date:
June 2005
Authors:
Beatriz Armendariz, Jonathan Morduch
Country:
Global
Research Areas:
Reimagining Financial Access
Themes:
Big Picture
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