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Market, Freedom and the Illusions of Microcredit. Patronage, Caste, Class and Patriarchy in Rural South India

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  • Isabelle Guérin
  • Santosh Kumar

Abstract

As a market tool, microcredit is expected to promote individual freedom, for women in particular. By drawing on a southern Indian case, this paper argues that microcredit is in fact shaped by the power structures it is supposed to eradicate. Even if they are partly reshaped, local structures of power remain unavoidable to protect populations (something that microcredit fails to do) but also to build the microcredit market and ensure its legitimacy, for donors, local political arenas and local populations. Far beyond microcredit, our findings question the uneasy relationships between markets and individual freedoms.

Suggested Citation

  • Isabelle Guérin & Santosh Kumar, 2017. "Market, Freedom and the Illusions of Microcredit. Patronage, Caste, Class and Patriarchy in Rural South India," Journal of Development Studies, Taylor & Francis Journals, vol. 53(5), pages 741-754, May.
    • Handle: RePEc:taf:jdevst:v:53:y:2017:i:5:p:741-754
    DOI: 10.1080/00220388.2016.1205735
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    Cited by:

    1. Annabel Dulhunty, 2022. "The microcredit continuum: From ‘smart economics’ to holistic programming," Journal of International Development, John Wiley & Sons, Ltd., vol. 34(6), pages 1213-1226, August.
    2. Saxena, Vibhor & Bindal, Ishaan & LeMay-Boucher, Philippe, 2020. "Social groups and credit shocks: Evidence of inequalities in consumption smoothing," Economic Analysis and Policy, Elsevier, vol. 68(C), pages 311-326.
    3. Vibhor Saxena & Ishaan Bindal & Philippe LeMay-Boucher, 2019. "Social groups and credit shocks: Evidence of inequalities in consumption smoothing," Discussion Paper Series, School of Economics and Finance 201901, School of Economics and Finance, University of St Andrews.
    4. Leif Atle Beisland & Bert D’Espallier & Roy Mersland, 2019. "The Commercialization of the Microfinance Industry: Is There a ‘Personal Mission Drift’ Among Credit Officers?," Journal of Business Ethics, Springer, vol. 158(1), pages 119-134, August.
    5. Golesorkhi, Sougand & Mersland, Roy & Piekkari, Rebecca & Pishchulov, Grigory & Randøy, Trond, 2019. "The effect of language use on the financial performance of microfinance banks: Evidence from cross-border activities in 74 countries," Journal of World Business, Elsevier, vol. 54(3), pages 213-229.
    6. Shymaa Bedaiwy & Dimity Peter, 2022. "An evaluation of Egyptian microfinance laws and regulations preventing overindebtedness of women," Journal of International Development, John Wiley & Sons, Ltd., vol. 34(7), pages 1318-1333, October.
    7. Mathilde Maîtrot, 2022. "The Moral Economy of Microfinance in Rural Bangladesh: Dharma, Gender and Social Change," Development and Change, International Institute of Social Studies, vol. 53(2), pages 335-355, March.
    8. W. Nathan Green, 2020. "Regulating Over‐indebtedness: Local State Power in Cambodia's Microfinance Market," Development and Change, International Institute of Social Studies, vol. 51(6), pages 1429-1453, November.

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