 | XIMB Fellow Programme in Management (Doctoral Level) |
| FPM Scholars Biswajit <email> | Microfinance Guide: Shridhar Kumar Dash About Microfinance This area of research belongs to the interface among economics, finance, and sociology. Basic economic theory suggests that capital would flow to those parts of the economy where the marginal return on capital is high. In practice however, the financial needs of some sections, such as small- and micro-enterprises, rural and urban poor, etc., remain largely unmet. The barriers preventing the flow of capital to these sections are identified in terms of asymmetry of information, moral hazard, and high transaction cost involved in banking. The study of microfinance deals with alternative models of banking through which the above-mentioned barriers are mitigated. There are some examples of success and failure of such alternative models, which are part of the academic debate in this area. Research is needed to find out ways through which unbankable individuals/enterprises can become bankable. Some indicative research topics in this area would be: money lender and the village economy: cost of information in the rural economy; willingness to pay vis-à-vis ability to pay: issues in microcredit risk management; financial inclusion; and risk-mitigation in the rural economy. Resources Books de Aghion, B. A., & Morduch, J. (2005). The economics of microfinance. MIT Press. Malcolm Harper, M. (Ed.). (2003). Microfinance: Evolution, achievements, and challenges. ITDG. Burra, N., & Deshmukh-Ranadive, J., & Murthy, R. K. (Eds.). (2005). Micro-credit, poverty and empowerment: Linking the triad. Sage Journals Agricultural Economics Journal of Development Economics Journal of Development Studies Journal of Microfinance MicroBanking Bulletin Savings and Development World Bank Economic Review World Development Expected Profile Candidates should have Master's level education in economics, sociology, management, or technology. Candidates with work experience would be preferred. |
FPM Cell Xavier Institute of Management Xavier Square, Bhubaneswar 751013, INDIA email: dean@ximb.ac.in |