The macroeconomic role of microfinance appears to have varied enormously between country cases, as notably exposed by the recent wave of macro-economic crises. For example, in Indonesia in the late 1990s microfinance appears to have played a notably counter-cyclical role, whereas in Bolivia, the...

The macroeconomic role of microfinance appears to have varied enormously between country cases, as notably exposed by the recent wave of macroeconomic crises. For example, in Indonesia in the late 1990s microfinance appears to have played a notably counter-cyclical role, whereas in Bolivia, the...