Main Article Content
The objective of this paper is to investigate theoretical background of microfinance and poverty alleviation. The article consist the two types of theories, which related to microfinance. First types of theories addresses the specific issues the poor have to face when seeking access to formal financial resources, due to the lack of collateral and second types of theories. The second set of theories are based on the impact of microfinance on small businesses, households and individuals. The first category of theories consist Theory relating to Emergence of Microfinance, Concept of Joint Liability Group in Microfinance. Theories of impact pathway of microfinance consist Theory on Shortcomings of Development Finance Strategies, Market and Welfare Theories, Poverty Lending Approach, Financial System Approach and5 Financial Integrated Approach
2. Augsburg, B., De Haas, R., Harmgart, H., & Meghir, C. (2015). The impacts of microcredit: Evidence from Bosnia and Herzegovina. American Economic Journal: Applied Economics, 7(1), 183-203.
3. Banerjee, A. V. (2013). Microcredit under the microscope: what have we learned in the past two decades, and what do we need to know?. Annu. Rev. Econ., 5(1), 487-519.
4. Brihaye, T., Pril, J. D., Labie, M., & Périlleux, A. (2019). Positive versus negative incentives for loan repayment in microfinance: A game theory approach. Review of Development Economics, 23(2), 577-597.
5. Creedy, J., & Hoang, H. (2018). Microfinance and joint liability lending. In Research Handbook of Finance and Sustainability. Edward Elgar Publishing.
6. de Aghion, B. A., & Morduch, J. (2000). Microfinance beyond group lending. Economics of transition, 8(2), 401-420.
7. Duvendack, M., Palmer-Jones, R., Copestake, J. G., Hooper, L., Loke, Y., & Rao, N. (2011). What is the evidence of the impact of microfinance on the well-being of poor people?.
8. Duvendack, M., Palmer-Jones, R., Copestake, J. G., Hooper, L., Loke, Y., & Rao, N. (2011). What is the evidence of the impact of microfinance on the well-being of poor people?.
9. Ghatak, M., & Guinnane, T. W. (1999). The economics of lending with joint liability: theory and practice. Journal of development economics, 60(1), 195-228.
10. Hadi, N. A., & Kamaluddin, A. (2015). Social collateral, repayment rates, and the creation of capital among the clients of microfinance. Procedia Economics and Finance, 31(2), 823-828.
11. Haldar, A., & Stiglitz, J. E. (2016). Group lending, joint liability, and social capital: Insights from the Indian microfinance crisis. Politics & Society, 44(4), 459-497.
12. Johnson, S., & Rogaly, B. (1997). Microfinance and poverty reduction. Oxfam.
13. Khan, W., Shaorong, S., & Ullah, I. (2017). Doing business with the poor: the rules and impact of the microfinance institutions. Economic research-Ekonomska istraživanja, 30(1), 951-963.
14. Kodongo, O., & Kendi, L. G. (2013). Individual lending versus group lending: An evaluation with Kenya's microfinance data. Review of Development Finance, 3(2), 99-108.
15. Krishnamurthy, S., Joseph, S., & Bharathi, V. (2014). Creating environment friendly projects in rural India–A synergy framework for sustainable renewable energy. International Journal of Applied Engineering Research, ISSN, 0973-4562.
16. Kumari, J. P., Azam, S. F., & Khalidah, S. (2019). The Effect of Microfinance Services on Poverty Reduction: Analysis of Empirical Evidence in Sri Lankan Perspectives. European Journal of Economic and Financial Research.
17. Kumari, J. P., Azam, S. F., & Yusoff, S. K. M. (2019). DOES GENDER DIFFERENCES PLAY A MODERATING ROLE IN THE RELATIONSHIP BETWEEN MICROFINANCE SERVICES AND SMALL-SCALE BUSINESS PERFORMANCE IN SRI LANKA?. European Journal of Social Sciences Studies.
18. Ledgerwood, J. (1999). Sustainable banking with the poor microfinance handbook.
19. Morduch, J., & Armendariz, B. (2005). The economics of microfinance. mit Press.
20. Orbuch, E. (2011). Towards an Integrated Approach to Microfinance. A case for the Integration of.
21. Rewilak, J. (2017). The role of financial development in poverty reduction. Review of development finance, 7(2), 169-176.
22. Rhyne, E. (2001). Mainstreaming microfinance: How lending to the poor began, grew, and came of age in Bolivia (No. 332.1 R4.). Bloomfield, CT: Kumarian Press.
23. Robinson, M. S. (2001). The microfinance revolution: Sustainable finance for the poor. The World Bank.
24. Rutherford, S. (2000). The poor and their money. New Delhi: Oxford University Press.
25. Seibel, H. D., & Parhusip, U. (1990). Financial Innovations for microenterprises–linking formal and informal institutions. 2003) Microfinance: Evolution, Achievement and Challenges. ITDG Publishing, London.
26. Sievers, M., & Vandenberg, P. (2007). Synergies through linkages: Who benefits from linking micro-finance and business development services?. World development, 35(8), 1341-1358.
27. Simtowe, F., & Zeller, M. (2006). The Impact of Access to Credit on the Adoption of hybrid maize in Malawi: An Empirical test of an Agricultural Household Model under credit market failure.
28. Srnec, K., & Svobodová, E. (2009). Microfinance in less developed countries: history, progress, present–charity or business?. Agricultural Economics, 55(10), 467-474.
29. Stiglitz, J. E. (1990). Peer monitoring and credit markets. The world bank economic review, 4(3), 351-366.
30. Woller, G. M., Dunford, C., & Woodworth, W. (1999). Where to microfinance. International Journal of Economic Development, 1(1), 29-64.
31. World Bank Staff. (2004). Education in Rwanda: Rebalancing resources to accelerate post-conflict development and poverty reduction. World Bank Publications.
32. Yaron, J., Benjamin, M. P., & Piprek, G. L. (1997). Rural finance: Issues, design, and best practices (Vol. 14). Washington, DC: World Bank.