Home' Policy Magazine : Policy Vol 32 - No 4 Contents 40 POLICY • Vol. 32 No. 4 • Summer 2016--2017
ON COMBATING POVERTY
Repayment Snag', e Wall Street Journal (27 November
2 e Economist, 'A Partial Marvel' (16 July 2009), http://
3 Because it seemed to get results. See Vivienne Walk, 'Does
Micro nancing Really Work? A New Book Says No', TIME
(6 January 2012).
4 Hermes Niels and Robert Lensink. ' e Empirics Of
Micro nance: What Do We Know?', e Economic Journal
117: 517 (February 2007), F1.
5 Robert Cull, Asli Demirgüç-Kunt, and Jonathan Morduch,
'Microfinance Meets "The Market"', Policy Research
Working Paper 4630 ( e World Bank, Development
Research Group, Finance and Private Sector Team, May
6 As above.
7 The Economist, 'The Experimenters Strike Back'
(10 June 2014), http://www.economist.com/blogs/
8 Jonathan Morduch, ' e Micro nance Promise', Journal
of Economic Literature 37:4 (December 1999), 1570.
9 As well as the facilitation of access to healthcare and an
increased awareness of the value of education, see Shahidur
R. Khandker, 'Micro nance And Poverty: Evidence Using
Panel Data From Bangladesh', e World Bank Economic
Review 19:2 (2005), 263-286. See also Serge Valant
Gandja, Christophe Estay and Jean Paul Tchankam,
'Alternative Finance for Micro-Enterprises: A Foundation
for Sustainable Development or Just Humanitarian Aid?',
Strategic Change 24: 1 (January 2015), 33-47.
10 As argued by Thomas Richter, 'Hype and Hope:
The Worrisome State of the Microcredit Movement',
e-Africa (December 2005), 6, available at http://media.
11 Morduch, ' e Micro nance Promise', 1610.
12 Anis Chowdhury, 'Micro nance as a Poverty Reduction
Tool--- A Critical Assessment', DESA Working Paper No.
89 (United Nations, Department of Economic and Social
A airs, December 2009), 5.
13 Cull, Demirgüç-Kunt and Morduch, 'Micro nance Meets
e Market', 12.
14 Chowdhury, 'Micro nance as a Poverty Reduction Tool',
15 Niels and Lensink, ' e Empirics Of Micro nance', 8.
16 Milford Bateman, ' e Rise And Fall Of Muhammad
Yunus', International Development Studies Working Paper
Series #001 (January 2014), 6.
17 Mares Duvendack, Richard Palmer-Jones, James G
Copestake, Lee Hooper, Yoon Loke, Nitya Rao, 'What is
the Evidence of the Impact of Micro nance on the Well-
Being of Poor People?' (London: EPPI-Centre, Social
Science Research Unit, Institute of Education, University
of London, 2011), 2.
18 Richter, 'Hype and Hope', 7.
19 David Roodman, Due Diligence (Washington: Center for
Global Development, 2012), 141.
20 Morduch, ' e Micro nance Promise', 1571.
21 As above, 1610.
22 For further discussion of predatory interest rates, see Aneel
Karnani, 'Micro nance Needs Regulation', Stanford Social
Innovation Review (Winter 2011),
23 CGAP, 'Andhra Pradesh 2010: Global Implications of the
Crisis in Indian Micro nance', Focus Note 67 (Washington
DC, CGAP, November 2010).
24 As above.
25 One examples he cites is the Mexican Banco Compartamos
charging as much as 195% in interest on some of its most
important microloans to poor female clients. Bateman.
' e Rise And Fall Of Muhammad Yunus', 18.
26 For further discussion, see Milford Bateman and Ha-Joon
Chang, 'Micro nance and the Illusion of Development:
From Hubris to Nemesis in irty Years', World Economic
Review 1 (2012), 17.
27 Bateman, ' e Rise And Fall Of Muhammad Yunus', 9.
28 See the YSB website, www.yunussb.com
29 Muhammad Yunus, Bertrand Moingeon and Laurence
Lehmann-Ortega, 'Building Social Business Models:
Lessons from the Grameen Experience', Long Range
Planning #43 (2010), 320.
30 Aneel Karnani, 'Microfinance Misses Its Mark', Standford
Social Innovation Review (Summer 2007), 36.
31 As above.
32 See Indur M. Goklany, e Improving State of the World:
Why We're Living Longer, Healthier, More Comfortable Lives
on a Cleaner Planet (Washington DC: Cato Institute,
2007), 49-50 and 403.
33 e Economist, 'Towards the End of Poverty' (1 June 2013),
34 As above.
35 Goklany, e Improving State of the World, 89, 93.
36 Narayan, Pritchett and Kapoor, Moving Out of Poverty:
Success from the Bottom Up, volume 2 (Washington DC:
World Bank and Palgrave Macmillan, 2009), 215.
37 Hernando de Soto ' e Secret to Reviving the Arab Spring's
Promise: Property Rights', e Wall Street Journal (26
38 As above.
39 Mises Institute, ' e Data Is Clear: Free Markets Reduce
Poverty' (16 June 2014), https://mises.org/library/data-
40 Narayan, Pritchett and Kapoor, Moving Out of Poverty, 193.
41 As above, 242.
42 As above, 243.
43 World Bank, Doing Business 2016: Measuring Regulatory
Quality and E ciency (Washington DC: World Bank,
44 Heritage Foundation, '2016 Index of Economic Freedom:
Bangladesh' (Washington: The Heritage Foundation,
45 Richter, 'Hype and Hope', 8 (see note 10).
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