Why doesn't microfinance work? : the destructive rise of local neoliberalism / Milford Bateman.

Includes bibliographical references (pages 233-252) and index.

1. Introduction -- 2. The rise of microfinance -- 3. Microfinance myths and realities -- 4. Microfinance as poverty trap -- 5. Commercialization: The death of microfinance -- 6. The politics of microfinance -- 7. Alternatives to conventional microfinance -- 8. Conclusion: the need for a new beginning.

"Milford Bateman reveals that microfinance doesn{u2019}t actually work. In fact, the case for it has been largely built on hype, on egregious half-truths and {u2013} latterly {u2013} on the Wall Street-style greed of those promoting and working in microfinance. Using a multitude of case studies, from India to Cambodia, Bolivia to Uganda, Serbia to Mexico, Bateman demonstrates that microfi nance actually constitutes a major barrier to sustainable economic and social development, and thus also to sustainable poverty reduction. As developing and transition countries attempt to repair the devastation wrought by the global financial crisis, ... --Publisher.