Duas faces da mesma moeda: alcance e limites das microfinanças na luta contra a pobreza / The two sides of a same coin: the reach and limits of microfinance in the fight against poverty

AUTOR(ES)
DATA DE PUBLICAÇÃO

2006

RESUMO

Aiming at debating the scope of microfinance in the fight against poverty, this paper is divided into two main parts, one of which centered in the discussion of development and the other, focused on the empirical literature about the impact of microfinance and microcredit programs on the beneficiary parts. Based on the discussion included in the most rigorous empirical studies, regarding the isolation of the effect of participation in financial programs aimed at the poor ? that is, basically, studies that controlled the observable and non-observable variables -, it is possible to conclude that the microfinance initiatives can directly benefit the components of poor families. Such benefits are mainly linked to the stabilization of consumption. On the other hand, despite the extremely pleasant benefits, the microfinance cannot be considered a kind of panacea. Regarding this issue, the merit of this paper is to debate these limitations not only from the point-of-view of the lack of results that are showed in the studies, but also under the broad scope of comprehending the society functioning bases. According to the line of analysis adopted, based on texts by Celso Furtado and Milton Santos, the underdeveloped society creates, due to its functioning, a great group of underused people, and this fact can be seen as a key to comprehend the economy of the poor and their principles of organization, which are part of the scenario that encompasses microfinance. Therefore, this view of the underdevelopment, in addition to contributing for the understanding of the economic life of the poor, highly contributes for the delimitation of the possibilities of microfinance programs, which should not be expected to solve the difficulties that are created and fed, basically, by the way society works. Among the questions raised as a result of the discussions of empirical studies, the paper still refers to the regulatory aspects underlying the microfinance sector in Brazil, considering its eventual improvement, aiming at turning the initiatives potentially more favorable to the poor.

ASSUNTO(S)

microfinanças microfinance desenvolvimento econômico microdredit economic development poverty pobreza

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