Microcredit was once universally lauded in international development community circles as a 'magic bullet'. Using the example of South Africa, this paper shows that microcredit has actually been an 'anti-developmental' local financial model, and one of the most calamitous financial sector...

There is a growing consensus that the historical evidence shows that development and growth require the impetus provided by a functioning developmental state. Originally conceived through East Asian examples (Japan, South Korea and Taiwan) as a ‘top-down' intervention undertaken by a pilot...

Although once universally lauded in international development community circles as a ‘magic bullet', in recent years the concept of microcredit has been increasingly recognised as having had a number of seriously adverse impacts in precisely those countries, regions and localities wherein it...