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The global institutionalization of microcredit
Article first published online: 31 MAY 2011
DOI: 10.1111/j.1748-5991.2011.01111.x
© 2011 Blackwell Publishing Asia Pty Ltd
Additional Information
How to Cite
Aagaard, P. (2011), The global institutionalization of microcredit. Regulation & Governance, 5: 465–479. doi: 10.1111/j.1748-5991.2011.01111.x
Publication History
- Issue published online: 2 DEC 2011
- Article first published online: 31 MAY 2011
- Accepted for publication 11 April 2011.
- Abstract
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Keywords:
- global governance;
- institutional change;
- microcredit;
- microfinance;
- microloans;
- spheres of authority
Abstract
This article explains how microcredit as a policy idea has been institutionalized at the transnational level, and what role strategic actors play in the institutional change and governance of microcredit. Special attention is given to three dominant actors, the Grameen Bank, the World Bank, and SKS Microfinance. To explain the emergence of microcredit as a transnational policy idea this article explores the relations between theories of institutional change and Rosenau's concept of spheres of authority.