Do microfinance schemes shape gender relations in developing countries? Insights from a critical review of the literature. (2015)

• Record Type: Journal Article
• Authors: Yeboah, Thomas; Kumi, Emmanuel; Arhin, Albert A.
• Is Part Of: International journal of gender studies in developing societies. Volume 1:Number 2(2015)
• Page Start: 135
• Page End: 156
• Publication Date: 2015
• Subjects: microfinance -- female empowerment -- developing societies -- men -- women -- gender relations -- developing countries -- literature review -- gender inequality; Women in development -- Developing countries -- Periodicals; Sex role -- Developing countries -- Periodicals; Women -- Developing countries -- Social conditions -- Periodicals; Women -- Legal status, laws, etc -- Developing countries -- Periodicals; Gender identity -- Developing countries -- Periodicals; 305.4091724
• Languages: English
• ISSNs: 2052-0352

Abstract

Micro-finance programs targeting women have become the central means of donor poverty alleviation strategies. In view of the renewed focus on post-millennium development goals (MDGs) poverty reduction strategies, there is the likelihood that donor agencies might increase funding in the next coming decades to support different initiatives. In this paper, we critically review the evidence of the nexus of microfinance and gender inequality in developing societies. One aim for providing and reaching out to women with credit methodologies is to increase womens bargaining power and challenging existing gender subordination thereby releasing them from power structures which dominate their lives. This paper suggests that relying on microfinance alone, as a strategy in addressing gender inequality in developing societies is insufficient. Drawing on several empirical cases on the microfinance literature from numerous contexts, we show that the empowerment potentials of microfinance schemes in addressing gender inequality are not straightforward. Failure to incorporate other household members (men) and a lack of recognition of the socio-cultural elements in societies constrains the empowerment potentials of microfinance programs. We conclude by suggesting pathways for improving the design and implementation of microfinance schemes in relation to addressing gender inequality in post-2015 development era.