Vol. 1(2) SEP 2011 - SAVAP International

More documents

Recommendations

Info

Academic Research International ISSN: 2223-9553 Volume 1, Issue 2, September 2011 There is no proper definition of the microcredit but few scholars and organizations working on the same issue have given the working definitions. In the proceeding section we will discuss two working definitions of the term microcredit. Firstly, a report on microcredit in Europe, CGAP (2011), defines microcredit as “While no formal definition of ‘microcredit’ exists, there are many interpretations, each dependent on what the interlocutor is wishing to focus on. At it’s most basic, the provision of microcredit is, as we have implied so far, the extension of micro sized loans to the poor.” While on the other hand, Grameen Foundation defines this as “Micro-credit is a popular instrument used by many development and financial agencies in many parts of the world for serving low-income people. How this instrument works naturally depends on the setting in which it is applied, and the manner of applying it. Microcredit is not merely an instrument for credit extension to the poor borrowers. It is a movement to emancipate the poor-especially women-to alleviate their poverty, improve their quality of life, and build their capacity and awareness and to integrate them economically and socially into the mainstream of the economy. Microcredit’s contribution in terms of capacity building, awareness raising and empowerment is notable. Microcredit has helped Women to become aware about their political rights and build their awareness.” Relationship between Microcredit and Women’s Empowerment There is obviously a positive association between microcredit and women’s empowerment. White et al. (1992) identified that microcredit program has a positive impact on women empowerment, the largest part of the existing studies promotes a vision that microcredit contributes towards women’s empowerment. Zaman (2001) reported that micro-credit played valuable roles in reducing the vulnerability of the poor, through asset creation, income and consumption smoothing, provision of emergency assistance, and empowering and emboldening women by giving them control over assets and increased self-esteem and knowledge. Several recent assessment studies had also generally found positive impact in this connection (Simanowitz and Walker 2002; Lalitha and Nagarajan, 2002 and ESCAP, 2002). A primary function of offering women credit in this way is to enhance their economic status, that enables women to earn extra income through which they can gain greater financial autonomy (Malik and Luqman, 2005). Microcredit Increased Income Empowerment Social Psychological Economic Political Enhanced Status Figure No. 1 Microcredit and Women Empowerment Copyright © 2011 SAVAP International www.savap.org.pk www.journals.savap.org.pk 334
Academic Research International ISSN: 2223-9553 Volume 1, Issue 2, September 2011 Through microfinance programs, poor women are targeted to get them out of the poverty. In this regard, Microcredit Summit Campaign Report (2011) stated that Of the 128.2 million poorest clients reached at the end of 2009, 81.7 percent or 104.7 million are women. The growth in the number of very poor women reached has gone from 10.3 million at the end of 1999 to 104.7 million at the end of 2009. This is a 919 percent increase in the number of poorest women reached from December 31, 1999 to December 31, 2009. The increase represents an additional 94.4 million poorest women receiving microloans in the last 10 years.” So, the focuses of the microfinance programs have been deeply concerned to the women. While on other hand few scholars working in the same line stated that the microcredit schemes of different banks, NGOs and other organizations reduced poverty, increased mobility and strengthened networks among women who were previously confined to their homes among other following researches are more important (Schuler and Hashemi, 1994; Hashemi and Morshed, 1997; Chowdhury and Alam, 1997; Carr et al., 1996; Hulme and Mosley, 1996; Pitt and Khandker, 1996; Latif, 1994; Lovell, 1992; Rahman, 1990). REVIEW OF LITERATURE How microcredit impact women empowerment To answer this question many studies have been conducted in the developing countries. Majority of these studies have been conducted in the Bangladesh because this was the country where microcredit schemes first time started by Grameen Bank in the late 1970s. The main objective of this initiative was to provide credit to poor people without collateral, alleviating poverty and unleashing human creativity and endeavor of the poor people (Chowdhury 2009; Hulme and Mosley 1996; Yunus 1999). Microcredit has proven its potential to generate results. However, these results are generally short-term and vary significantly among borrowers. In general, studies suggest the poorest seldom benefit from microcredit, while the middle and upper poor benefit the most. Women in particular face significant barriers to achieving sustained increases in income and improving their status, and require complementary support in other areas, such as training, marketing, literacy, social mobilization, and other financial services (e.g., consumption loans, savings). In fact, it is difficult to separate the impact of microcredit from that of other interventions (Maclsaac, 1997). Further Maclsaac (1997) said that “most women borrowers have only partial control over loans, or have relinquished all control to male members of the family. This has serious implications for the impact of gender equity. However, this is not to say benefits are non-existent. As part of a broader effort to raise awareness and mobilize women, credit could play an important role as an “entry point” to strengthen women’s networks and mobility, increase their knowledge and self-confidence, and increase their status in the family.” In the context of Bangladesh, Al Mamun (2005) discusses that “during the last two decades, micro-credit approach has been increasingly incorporated in the development discourse. Specially the credit is given to the women and the popular belief is that women are benefited and empowered and are being acknowledged for having a productive and active role and thus it is the gateway of gaining freedom for themselves.” There are few studies in the context of Pakistan which discussed the relationship between microcredit and women empowerment, one of them was a review based study done by Malik and Luqman (2005). They assert that “from the previous research studies it was concluded that micro finance and microcredit programmes had the potential and powerful impact on women's empowerment. Although these were not always empowering all women, most women did experience some degree of empowerment because it was a complex process of change experienced by all individuals somewhat differently and varied from culture to culture. Microcredit programmes had both positive and negative impacts on women's empowerment and eradication of poverty throughout the world.” There are different perspectives on the issue of microcredit in connection with women empowerment. In few cases women were unable to use the microcredit to empower themselves. In this regard, Goetz and Gupta (1996) said that “most programs could not ensure that women retained control over the money. Women commonly hand over control of the loan or invest it in a family enterprise.” Copyright © 2011 SAVAP International www.savap.org.pk www.journals.savap.org.pk 335
Page 3 and 4:
‘Research for Peace and Developme
Page 5:
Academic Research International ISS
Page 8 and 9:
Page 10 and 11:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Page 25 and 26:
Page 27 and 28:
Academic Research International Mu
Page 29 and 30:
Page 31 and 32:
Academic Research International 1-
Page 33 and 34:
Page 35 and 36:
Academic Research International * 2
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
Page 45 and 46:
Academic Research International 1.
Page 47 and 48:
Page 49 and 50:
Page 51 and 52:
Page 53 and 54:
Page 55 and 56:
Page 57 and 58:
Page 59 and 60:
Page 61 and 62:
Page 63 and 64:
Page 65 and 66:
Page 67 and 68:
Page 69 and 70:
Page 71 and 72:
Page 73 and 74:
Page 75 and 76:
Page 77 and 78:
Page 79 and 80:
Page 81 and 82:
Page 83 and 84:
Page 85 and 86:
Page 87 and 88:
Page 89 and 90:
Page 91 and 92:
Page 93 and 94:
Page 95 and 96:
Page 97 and 98:
Page 99 and 100:
Page 101 and 102:
Page 103 and 104:
Page 105 and 106:
Page 107 and 108:
Academic Research International { l
Page 109 and 110:
Academic Research International 2 b
Page 111 and 112:
Page 113 and 114:
Page 115 and 116:
Page 117 and 118:
Page 119 and 120:
Page 121 and 122:
Page 123 and 124:
Page 125 and 126:
Page 127 and 128:
Page 129 and 130:
Academic Research International 2.5
Page 131 and 132:
Page 133 and 134:
Page 135 and 136:
Page 137 and 138:
Page 139 and 140:
Page 141:
Page 144 and 145:
Page 146 and 147:
Page 148 and 149:
Page 150 and 151:
Page 152 and 153:
Page 154 and 155:
Page 156 and 157:
Page 158 and 159:
Page 160 and 161:
Page 162 and 163:
Page 164 and 165:
Page 166 and 167:
Page 168 and 169:
Page 170 and 171:
Page 172 and 173:
Page 174 and 175:
Page 176 and 177:
Page 178 and 179:
Page 180 and 181:
Page 182 and 183:
Page 184 and 185:
Page 186 and 187:
Page 188 and 189:
Page 190 and 191:
Page 192 and 193:
Page 194 and 195:
Page 196 and 197:
Page 198 and 199:
Page 200 and 201:
Page 202 and 203:
Page 204 and 205:
Page 206 and 207:
Page 208 and 209:
Page 210 and 211:
Page 212 and 213:
Page 214 and 215:
Page 216 and 217:
Page 218 and 219:
Page 220 and 221:
Page 222 and 223:
Page 224 and 225:
Page 226 and 227:
Page 228 and 229:
Page 230 and 231:
Page 232 and 233:
Page 234 and 235:
Page 236 and 237:
Page 238 and 239:
Page 240 and 241:
Page 242 and 243:
Page 244 and 245:
Page 246 and 247:
Page 248 and 249:
Page 250 and 251:
Page 252 and 253:
Page 254 and 255:
Page 256 and 257:
Page 258 and 259:
Page 260 and 261:
Page 262 and 263:
Page 264 and 265:
Page 266 and 267:
Page 268 and 269:
Page 270 and 271:
Page 272 and 273:
Page 274 and 275:
Page 276 and 277:
Page 278 and 279:
Page 280 and 281:
Page 282 and 283:
Page 284 and 285:
Page 286 and 287:
Page 288 and 289:
Page 290 and 291:
Page 292 and 293:
Page 294 and 295:
Page 296 and 297:
Page 298 and 299: Academic Research International ISS
Page 398 and 399:
Page 400 and 401:
Page 402:
Page 405 and 406:
Page 407 and 408:
show all

Vol. 1(2) SEP 2011 - SAVAP International

Create successful ePaper yourself

Delete template?

Save as template?