Achieving inclusive microfinance: recommendations from Catholic Social Teaching and economic development literature
Microfinance programs are promoted as powerful tools for increasing financial inclusion and reducing poverty in the developing world. While these programs have shown promise, they often fail to reach the most marginalized potential clients and can actually increase exclusion through mechanisms such...
| Published in: | Journal of management, spirituality & religion |
|---|---|
| Subtitles: | "The Economy of Francesco: Ongoing Perspectives for a New Economy" |
| Authors: | ; ; |
| Format: | Electronic Article |
| Language: | English |
| Check availability: | HBZ Gateway |
| Journals Online & Print: | Drawer...
|
| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Published: |
International Association of Management, Spirituality & Religion
2023
|
| In: |
Journal of management, spirituality & religion
|
| IxTheo Classification: | KAJ Church history 1914-; recent history KDB Roman Catholic Church NCC Social ethics NCE Business ethics ZA Social sciences |
| Further subjects: | B
Catholic Social Teaching
B Integral Approach B Inclusivity B Microfinance B Sustainability B Aufsatz in Zeitschrift |
| Online Access: |
Volltext (lizenzpflichtig) |
| Summary: | Microfinance programs are promoted as powerful tools for increasing financial inclusion and reducing poverty in the developing world. While these programs have shown promise, they often fail to reach the most marginalized potential clients and can actually increase exclusion through mechanisms such as social sanctions. In this paper, we review recent microfinance literature highlighting the benefits, drawbacks, and potential mechanisms of exclusion inherent in current microfinance models. We then outline principles, rooted in Catholic Social Teaching, that provide a fuller understanding of the human person and can help inform a more inclusive version of microfinance. Finally, we apply these principles and recent innovations in the economics literature to propose a list of practical recommendations for inclusive microfinance to achieve integral development. |
|---|---|
| ISSN: | 1942-258X |
| Contains: | Enthalten in: Journal of management, spirituality & religion
|
| Persistent identifiers: | DOI: 10.51327/YJSZ9508 |