About the author

Preface

Acronyms

1 | Introduction

Bringing reality back in

2 | The rise of microfinance

Birth of an idea

The case for microfinance

Conclusion

3 | Microfinance myths and realities

The basic myths behind the microfinance model

Myths behind the ‘new wave’ microfinance model

Conclusion

4 | Microfinance as poverty trap

What do microfinance impact assessments tell us?

Figure 4.1 Simple response to an increase in supply of microenterprises

Microfinance and key development triggers

Conclusion

5 | Commercialization: the death of microfinance

Background to commercialization

The gathering storm

Table 5.1 The rise of consumer microloans in selected countries

The perfect storm – the ‘Compartamos affair’

Key problematic issues raised by the Compartamos episode

Conclusion

6 | The politics of microfinance

Bringing capitalism to the poor to make capitalism safe for the rich

Microfinance is local neoliberalism

Conclusion

7 | Alternatives to conventional microfinance

A preliminary word on at-risk groups

Financial sector models associated with local and regional development success

Vietnam – a special case of ‘progress with the wrong model’

Conclusion

8 | Conclusion: the need for a new beginning

Concluding thoughts

Notes

to 1 and 2

to 3

to 4

to 5

to 6

to 7

to 8

Bibliography

Index