The Credit Revolution: An Institutional and Historical Glance at Microcredit as a Culmination in Economic Theory

Abstract

Microcredit is one of the newest and most alluring topics in the world of economic development theory and alleviation. However, its results are mixed, proving to offer less benefits that proponents promised, but not being as catastrophic as opponents promised. In understanding the institutional internal structure of microcredit and its place within a historical context, onlookers can identify both how microcredit theoretically accomplishes its goals of absolute poverty alleviation and its place among development theory to narrow the scope of ignorance we are operating from.

Comments from Mentors

Caleb’s research into the history and economics of microcredit is a great example of interdisciplinary creativity disciplined by evidence and analytical rigor.

— Stephen Quinn