| Abstract: |
In the last 20 years, microfinance has moved from a promise to reality,
although with ups and downs. This paper reviews 1,874 papers published from
1997 to 2017 to perform a scientometric analysis of the microfinance field.
The literature review is based on bibliometric data: keyword co-occurrence
networks and citation networks were exploited for knowledge mapping. Data
analysis shows the two research traditions: papers focusing on clients
(welfarists) and papers focusing on microfinance entities themselves
(institutionalists). Institutionalism, which had little presence in the early
research in microfinance, now exhibits great strength. A chronological
analysis reveals the evolution of the topics most interesting to researchers:
the first stage described the innovations of the microcredit practices and
their impact; the second and very expansive stage in which microfinance
institutions’ peculiarities were analyzed; and nowadays the sector is mature
but with negative aspects arising, such as mission drift. The keywords
analysis discovers emerging research topics, shows the use of sophisticated
techniques, and recognizes an emerging trend of the sector: achieving
financial inclusion. |