In the mid-1980s the international development community helped launch what was to quickly become one of the most popular poverty reduction and local economic development policies of all time. Microcredit, the system of disbursing tiny micro-loans to the poor to help them to establish their own income-generating activities, was initially highly praised and some were even led to believe that it would end poverty as we know it. But in recent years the microcredit model has been subject to growing scrutiny and often intense criticism. The Rise and Fall of Global Microcredit shines a light on many of the fundamental problems surrounding microcredit, in particular, the short- and long-term impacts of dramatically rising levels of microdebt. 

Developed in collaboration with UNCTAD, this book covers the general policy implications of adverse microcredit impacts, as well as gathering together country-specific case studies from around the world to illustrate the real dynamics, incentives and end results. Lively and provocative, The Rise and Fall of Global Microcredit is an accessible guide for students, academics, policymakers and development professionals alike.

part I|2 pages

An overview

chapter 1|21 pages


ByMilford Bateman, Stephanie Blankenburg, Richard Kozul-Wright

chapter 2|18 pages

Development prospects in an era of financialization

ByRichard Kozul-Wright

chapter 3|27 pages

Impacts of the microcredit model

Does theory reflect actual practice?
ByMilford Bateman

part II|2 pages

Country case studies

chapter 4|22 pages

Looking through the glass, darkly

Microcredit in Peru
ByMatthew D. Bird

chapter 5|19 pages


Latin America’s unsung hero
ByFernanda Feil, Andrej Slivnik

chapter 6|15 pages


A critical look
ByDaniel Munevar

chapter 7|16 pages

Mexico and the microcredit model

ByEugenia Correa, Laura Vidal

chapter 8|23 pages

Sustainability paradigm to paradox

A study of microfinance clients’ livelihoods in Bangladesh
ByMathilde Maîtrot

chapter 9|28 pages


The next domino to fall?
ByMilford Bateman

chapter 10|22 pages

The instability of commercial microfinance

Understanding the Indian crisis with Minsky
ByPhilip Mader

chapter 11|14 pages

Collective resistances to microcredit in Morocco

BySolène Morvant-Roux, Jean-Yves Moisseron

part III|2 pages

Policy implications

chapter 13|23 pages

Delivering development finance in ‘the time of cholera’

A ‘bottom-up’ agenda for pro-development financial resource mobilisation
ByStephanie Blankenburg

chapter 14|6 pages


ByMilford Bateman, Stephanie Blankenburg, Richard Kozul-Wright