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Microcredit - A More Credible Social than Economic Program in Bangladesh

Author

Listed:
  • Alam, Md. Mahmudul

    (Universiti Utara Malaysia)

  • Molla, Rafiqul Islam

Abstract

Calculated under the framework of economic-profit counting, the productivity of microcredit in Bangladesh is found very low. In this survey about 48% of the borrowers had to compromise their normal wages for self-employed labor to be able to pay the high interest for the credit. Similarly its social productivity is also found marginal. However, about 90% of the borrowers felt comfortable with microcredit even at so high interest rate seemingly to avoid losing or compromising their social and political empowerment at the hands of the local moneylenders or relatives. Borrowers give high value to their socio-political empowerments and are ready to compromise normal wages for their self-employed labor. In the game of political economy of credit for the poor, microcredit is seen as a means of protecting and enhancing sociopolitical empowerments of the low income and distressed people in the society and is appraised as a credible social than economic institution.

Suggested Citation

  • Alam, Md. Mahmudul & Molla, Rafiqul Islam, 2019. "Microcredit - A More Credible Social than Economic Program in Bangladesh," OSF Preprints 27c98_v1, Center for Open Science.
    • Handle: RePEc:osf:osfxxx:27c98_v1
    DOI: 10.31219/osf.io/27c98_v1
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