Microcredit programmes, long considered efficient development tools,
now face unprecedented crises in a number of countries. Is this the end of
microcredit or rather an essential step in its expansion ?
Drawing on extensive empirical research, this important volume examines the whole chain of microcredit to provide the answers to these questions. In doing so, the authors highlight the diversity of crises, both in intensity and in nature, while also shedding light on a diversity of causes. Crucially, the authors demonstrate that microcredit is not a monolithic project, and the crises should also be analysed in the light of national histories and policies.