Journal of Business Ethics 112 (4):697-706 (2013)
The purpose of this article is to present and discuss the values and limits of microfinance within the context of poverty reduction, international development, and community empowerment. The main thesis is that microfinance requires a more complex strategy than simply the provision of credits. The development of financial capital depends on the increase in human capacity and social capital. Microfinance is revisited under the ethical lenses of global responsibility for alleviating poverty and developing community sustainability. Through a critical review of the literature and case studies from the Philippines, the author suggests a value-based Vincentian approach to integrate microfinance into community empowerment. In connection with the main thesis the author argues that the achievement of economic self-reliance through microfinance is contingent upon the development of capacity building, social capital, and empowerment at the individual, collective, and systemic levels
|Keywords||Microcredit Microfinance Microsavings MFIs Philippines Self-reliance Sustainable community development Vincentian|
|Categories||categorize this paper)|
References found in this work BETA
The Life You Can Save: Acting Now to Stop World Poverty.Peter Singer - 2009 - Random House.
Best Practices in Credit Accessibility and Corporate Social Responsibility in Financial Institutions.Francesc Prior & Antonio Argandoña - 2009 - Journal of Business Ethics 87 (1):251 - 265.
Citations of this work BETA
Differential Social Performance of Religiously-Affiliated Microfinance Institutions in Base of Pyramid Markets.R. Mitch Casselman, Linda M. Sama & Abraham Stefanidis - 2015 - Journal of Business Ethics 132 (3):539-552.
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