- Series: MIT Press
- Paperback: 496 pages
- Publisher: The MIT Press; second edition edition (April 23, 2010)
- Language: English
- ISBN-10: 0262513986
- ISBN-13: 978-0262513982
- Product Dimensions: 6 x 0.8 x 9 inches
- Shipping Weight: 1.4 pounds (View shipping rates and policies)
- Average Customer Review: 10 customer reviews
- Amazon Best Sellers Rank: #380,190 in Books (See Top 100 in Books)
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The Economics of Microfinance (MIT Press) second edition Edition
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An extraordinary book, inasmuch as it explains not only the underlying rationale of microfinance but, more broadly, of finance itself.(Thomas Easton, Asia Business Editor, The Economist)
Anyone interested in the science behind microfinance must read this impressive book. It is written with experience in microfinance and a deep understanding of economics.(Muhammad Yunus, Nobel Peace Prize Laureate (2006))
Praise for the first edition: An excellent analysis of the evolution of microfinance and the economic theory behind it...Though the style is that of a textbook, including exercises and numerical examples, the text is well written and an excellent source for economists who want to learn about this topic.(Branko Milanovich Times Higher Education Supplement)
Microfinance is the most visible anti-poverty intervention of the last 25 years. It has been extremely successful in effectively delivering financial services to the poor, reaching more than 150 million clients (mostly women), often in countries where very little else works. This remarkable achievement has led many to believe that microfinance could be what everyone has been looking for: a transformative solution to the problem of poverty itself. And, not surprisingly, it has attracted its share of criticism, some even arguing that microfinance is no better than a new form of usury. It is high time that some serious analysis and solid evidence be brought to bear on this important and passionate debate. This is what Beatrice Armendáriz and Jonathan Morduch do masterfully in this book, drawing on very recent research and their own extensive experience. This should be required reading for microfinance friends and foes alike, or anyone wishing to understand what the issues really are.(Esther Duflo, Department of Economics, MIT)
About the Author
Beatriz Armendáriz is a Lecturer in Economics in the Department of Economics at Harvard University, a Senior Lecturer on leave from University College London, and coeditor of The Microfinance Handbook. Jonathan Morduch is Professor of Public Policy and Economics at New York University's Wagner Graduate School of Public Service. He is a coauthor of Portfolios of the Poor: How the World's Poor Live on $2 a Day.
Gretchen A. Condran is Associate Professor of Sociology, Temple University. She is the authorof "Changing Patterns of Epidemic Disease in New York City," in David Rosner (ed.),Hives of Sickness: Public Health and Epidemics in New York City (New Brunswick, 1995); coauthor,with Ellen Kramarow, of "Child Mortality among Jewish Immigrants to the UnitedStates, Journal of Interdisciplinary History, XXII (1991), 223--254.
Harold R. Lentzner is an independent health researcher. He is co-author, with BarbaraMensch and Samual Preston, of Socio-Economic Differentials in Child Mortality in DevelopingCountries (New York, 1985).
Top customer reviews
The field is developing quickly, and so there are already several contributions which are not covered (see e.g. work that folks such as Dean Karlan and coauthors are doing), but overall the coverage is excellent for what had been done until the publication date.
Those who think that micro-finance is "clearly" the way ahead, and that its history has been only a history of great successes, will find some surprises here. I do love the idea underlying micro-finance, but it turns out that some of the media hype is not supported by careful studies.
Still the field deserves to be studied, and this book is a highly recommended overview, which will also give you plenty of references to deepen your knowledge and to identify area that need research.
I could not have chosen a better book than this one.
This book provides a comprehensive analysis of the economics of microfinance, as the title suggests. It is a technical book: it expects a high level of economic understanding, but it synthesises a vast amount of information on the subject and communicates it succintly. This is without a doubt one of the best technical economics books I have read - and I have read an awful lot of them.
I've given this book to my PhD students working in this area as essential background reading before they commence research. I commend this book to any economist or development practitioner who is interested in the economics behind the stories and photos, who want to find solutions that will really catalyse economic development, who want to see successful projects implemented and who want to learn from the expertise of others to make sure they do the best for their clients.