Economics, Econometrics and Finance
5 years ago

Microfinance Boosts Global Economy, Reduces Poverty with Female Empowerment.

Journal of Economics and Development Studies
Impact of Microfinance on Poverty Alleviation: A Global Analysis
Wook Sohn, Laila Ume

Paper Summary

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Microfinance institutions in 96 countries have been found to significantly reduce poverty and promote economic development. The study shows that more female recipients of microfinance loans and a higher number of active borrowers lead to lower levels of poverty. This means that microfinance is an effective tool for helping people in need and improving financial conditions globally.