Southeast Asias Credit Revolution
Southeast Asias Credit Revolution describes and explains the rise of microfinance the provision of credit and other financial services for the poor in Southeast Asia, over the past four decades the most consistently successful region of the developing world. In recent years microfinance has come to be seen as a key weapon in the battle against global poverty, generating more enthusiasm and optimism than any other development strategy.
Southeast Asia has a special place in the history of microfinance. Historically, Southeast Asian societies and economies were perceived as almost uniquely debt-ridden and credit-constrained. In the twentieth century, however, the region was in the forefront of the modern microfinance revolution. This book asks what has made it possible for formal microfinance institutions to replace moneylenders and other traditional credit providers. Factors examined include the effects of economic growth and legal change, as well as innovations in the design of the institutions themselves. Attention is also paid to the critical question of how many people have really benefited from the expansion of microfinance, and which groups in society have not.
Bringing together economists, sociologists, anthropologists and historians, the book covers seven Southeast Asian countries. Contributions surveying the theoretical literature, and outlining the history of microfinance in Europe and in South Asia, provide external points of reference. The topic is explored from cultural and institutional as well as economic perspectives, and policy-relevant lessons are offered for the design of successful microfinance institutions. Focusing on recent developments while putting them in their historical context, this book will be an important text for scholars and students of economic history, finance, institutional economics, and Asian Studies.
Aditya Goenka is an economist at the National University of Singapore. His research interests include endogenous business cycles, economic growth and credit market imperfections. He is currently working on the effect of infectious diseases on economic growth.
David Henley is a researcher at the Royal Netherlands Institute of Southeast Asian and Caribbean Studies (KITLV) in Leiden. He has written on diverse topics in the history of Indonesia, and currently coordinates an international research project on the comparative economic histories of Southeast Asia and Sub-Saharan Africa.
Routledge Studies in the Growth Economies of Asia
1 The Changing Capital Markets of East Asia
Edited by Ky Cao
2 Financial Reform in China
Edited by On Kit Tam
3 Women and Industrialization in Asia
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4 Japans Trade Policy
Action or reaction?
Yumiko Mikanagi
5 The Japanese Election System
Three analytical perspectives
Junichiro Wada
6 The Economics of the Latecomers
Catching-up, technology transfer and institutions in Germany, Japan and South Korea
Jang-Sup Shin
7 Industrialization in Malaysia
Import substitution and infant industry performance
Rokiah Alavi
8 Economic Development in Twentieth Century East Asia
The international context
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Contending perspectives
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Edited by Sally M. Miller, A. J. H. Latham and Dennis O. Flynn
11 Workers and the State in New Order Indonesia
Vedi R. Hadiz
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Beate Reszat
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Yizheng Shi
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Diverse paths to the market
Kenichi Ohno and Izumi Ohno
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The european experience
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Prema-chandra Athukorala
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Ippei Yamazawa
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Industry and firm studies
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Malaysias industrial technology policies
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Samuel Coleman
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Toshiaki Tachibanaki and Atsuhiro Taki
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Edited by A. J. H. Latham and Heita Kawakatsu
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Jae-Yong Chung and Richard J Kirkby
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Emergence and development 1945-65
Catherine R Schenk
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Late development and cultural causation
Ian Inkster
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Kui-Wai Li
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Gordon de Brouwer
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Elites, inequalities and economic restructuring
Peter Krinks
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The rise of the private economy
Edited by Ross Garnaut and Ligang Song
42 The Vietnamese Economy
Awakening the dormant
dragon
Edited by Binh TRAN-NAM and Chi Do Pham
43 Restructuring Korea Inc.
