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BOOK REVIEW: "Due Diligence: An Impertinent Inquiry into Microfinance" by Roodman, David Malin

BOOK REVIEW: "Due Diligence: An Impertinent Inquiry into Microfinance" by Roodman, David Malin The Singapore Economic Review, Vol. 59, No. 5 (2014) 1480005 (2 pages) © World Scientific Publishing Company DOI: 10.1142/S0217590814800058 BOOK REVIEW Published 8 October 2014 Due Diligence: An Impertinent Inquiry into Microfinance by Roodman, David Malin, Washington, DC: Center for Global Development, 2012. Print. p. 275, $24.95. For the greater part of the last 30 years, microfinance has been the darling of philan- thropists, researchers, and policy-makers. Simple stories of how small loans allowed poor entrepreneurs to escape from oppressive poverty have helped create an industry that now reaches millions of the world’s poor. Over the past couple of years, a number of highly publicized incidents have tarnished the reputation of microfinance. A series of suicides in Andhra Pradesh, India, that were alleged to have been the result of over-indebtedness among microfinance clients, severely damaged the reputation of microfinance. At the same time, microcredit has been criticized for high-interest rates (and profits), high indebtedness, and exaggerations of its true development impact. In a matter of only a few years, the pendulum of public opinion has swung from extreme exuberance to extreme criticism. Due Diligence: An Impertinent Inquiry into Microfinance by David Roodman, is exactly what the field needs: a http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Singapore Economic Review World Scientific Publishing Company

BOOK REVIEW: "Due Diligence: An Impertinent Inquiry into Microfinance" by Roodman, David Malin

AXMANN, NIKOLAUS
The Singapore Economic Review , Volume 59 (05): 1 – Dec 1, 2014
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Publisher
World Scientific Publishing Company
Copyright
Copyright ©
Subject
Book Reviews
ISSN
0217-5908
eISSN
1793-6837
DOI
10.1142/S0217590814800058
Publisher site
See Article on Publisher Site

Abstract

The Singapore Economic Review, Vol. 59, No. 5 (2014) 1480005 (2 pages) © World Scientific Publishing Company DOI: 10.1142/S0217590814800058 BOOK REVIEW Published 8 October 2014 Due Diligence: An Impertinent Inquiry into Microfinance by Roodman, David Malin, Washington, DC: Center for Global Development, 2012. Print. p. 275, $24.95. For the greater part of the last 30 years, microfinance has been the darling of philan- thropists, researchers, and policy-makers. Simple stories of how small loans allowed poor entrepreneurs to escape from oppressive poverty have helped create an industry that now reaches millions of the world’s poor. Over the past couple of years, a number of highly publicized incidents have tarnished the reputation of microfinance. A series of suicides in Andhra Pradesh, India, that were alleged to have been the result of over-indebtedness among microfinance clients, severely damaged the reputation of microfinance. At the same time, microcredit has been criticized for high-interest rates (and profits), high indebtedness, and exaggerations of its true development impact. In a matter of only a few years, the pendulum of public opinion has swung from extreme exuberance to extreme criticism. Due Diligence: An Impertinent Inquiry into Microfinance by David Roodman, is exactly what the field needs: a

Journal

The Singapore Economic Review – World Scientific Publishing Company

Published: Dec 1, 2014

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