Introduction

Abstract

The microfinance industry (MFI) has crossed the threshold into a period of tremendous growth. This growth was significantly accelerated by media attention to the industry during the United Nations Year of Microcredit in 2005 and the awarding of the 2006 Nobel Peace Prize to Grameen Bank founder Mohammed Yunus, as well as the interest of high-profile donors and investors, including eBay founder Pierre Omidyar and Microsoft founder Bill Gates. Despite the promise for international development, despite the proven track record of exceptional loan repayment rates, and despite the development of competitive markets in countries like Bolivia, Peru and Bangladesh or the global expansion of microfinance access to tens of millions of new clients, little research has explored the impact this expansion has had on global poverty and economic and social development, in general.

Citation

Watkins, T.A. and Hicks, K. (2009), "Introduction", Watkins, T.A. and Hicks, K. (Ed.) Moving Beyond Storytelling: Emerging Research in Microfinance (Contemporary Studies in Economic and Financial Analysis, Vol. 92), Emerald Group Publishing Limited, Leeds, pp. ix-xiii. https://doi.org/10.1108/S1569-3759(2009)0000092003