- India and the World Economy, 1757–1947
- Battles Half Won: Political Economy of India's Growth and Economic Policy Since Independence
- Estimating Rural Poverty: Distributional Outcomes, Evaluations, and Policy Responses
- Microfinance: The Shg-Linkage Program
- Microinsurance: A Case Study of the Indian Rainfall Index Insurance Market
- Caste and Upward Mobility
- Performance of Indian Manufacturing in the Postreform Period
- Informal Sector and the Developing World: Relating Theory and Evidence to India
- Structural Transformation and Jobless Growth in the Indian Economy
- Development, Displacement, and Food Security: Land Acquisition in India
- Reforming Primary and Secondary Schooling
- Higher Education Reforms in India
- Health and Health Care Policy in India: The Case for Quality of Care
- Population Dynamics in India and Implications for Economic Growth
- The Dynamics and Status of India's Economic Reforms
- Political Economy of Infrastructure Spending in India
- Aspects of Bureaucratic Corruption
- Distributive Conflicts and Indian Economic Policy: Some Notes On Political Economy
- Economic Growth and Ecological Sustainability in India
- Fiscal Rules in India: are they Effective?
- Financial Frictions and Monetary Policy Transmission in India
- Monetary Policy, Capital Flows, and the Exchange Rate
- India's Trade and Exchange-Rate Policies: Understanding the Bop Crisis and the Reforms Thereafter
- Domestic Financial Sector Reforms
- The Convergence Debate and Econometric Approaches: Evidence from India
- The Globalization Debate and India
- India at the WTO: From Uruguay to Doha and Beyond
- An Estimated DSGE Model of the Indian Economy
- Development Patterns in China and India: Perspective with A Ces Production Function
- What More do we want to know about the Indian Economy?
Abstract and Keywords
The microfinance sector in Indian has followed two different models: the microfinance institute (MFI) model and the self-help-group (SHG) linkage model. The MFIs mostly follow the Grameen model, with some variations, whereas the SHG-linkage model has some interesting features typically not found in other microfinance institutions. This article focuses not only on the SHG-linkage program but also on its role as a conduit for channeling credit and on the role played by NGOs in this process. It provides a brief overview of the genesis and spread of the SHG-linkage program, and examines the social impact of microfinance, especially in the Indian (and Bangladeshi) context. It builds a simple formal model capable of comparing the efficiency implications of the SHG-linkage approach vis-a-vis the Grameen. Finally, the article concludes with some suggestions for future research.
Prabal Roy Chowdhury (Indian Statistical Institute, New Delhi)
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