Small is Beautiful. La política de microfinanciamiento en México: impacto y rentabilidad social

Abstract

THE INABILITY SHOWN BY THE MEXICAN ECONOMY TO GROW AT A RATE WHICH WOULD ALLOW IT TO ABSORB THE GROWING LABOUR FORCE, HAS LED TO THE DEVELOPMENT OF SELF-EMPLOYMENT FORMS WHICH ARE FRAMED IN THE STRUGGLE AGAINST POVERTY. ONE OF THEM IS THE MICROFINANCING OF PRODUCTIVE PROJECTS. THE ARTICLE EVALUATES ITS IMPACT ON THE INCOME, EMPLOYMENT AND POVERTY LEVELS OF THE PEOPLE WHO ARE BENEFICIARIES OF TWO GOVERNMENTAL PROGRAMMES: THE NATIONAL PROGRAMME FOR FINANCING THE MICROENTREPRENEURS (PRONAFIM), AND THE FINANCING FUND TRUST FOR RURAL WOMEN (FOMMUR). BOTH PROGRAMMES HAVE PRODUCED POSITIVE EFFECTS ON THESE VARIABLES AT SUBSTANTIALLY LOWER SOCIAL COSTS THAN THE ONES REGISTERED BY CUSTOMARY ACTIONS TAKEN IN ORDER TO ACHIEVE THE SAME GOALS.