@article{fdi:010069005,
  title = {{T}he social regulation of markets : why microcredit fails to promote jobs in rural {S}outh {I}ndia},
  author = {{G}u{\'e}rin, {I}sabelle and {D}'{E}spallier, {B}. and {V}enkatasubramanian, {G}.},
  editor = {},
  language = {{ENG}},
  abstract = {{T}here is growing evidence that microcredit does little to support self-employment. {T}wo main explanations are typically emphasized: from a microeconomic perspective, the poor have been argued to lack the skills, resources and motivation to start their own businesses; from a macroeconomic perspective, local markets are often saturated. {T}his article uses first-hand data from rural {S}outh {I}ndia to explore a third explanation which focuses on the social regulation of markets. {D}rawing on a household survey, the authors show that self-employment and microcredit are uncorrelated, and that women and lower castes have a significantly lower chance of starting up a business. {T}he businesses they do start tend to be smaller, less profitable and based in very specific sectors. {Q}ualitative insights into the workings of local economies show that caste and gender-based social regulations influence local markets determining who can produce or sell what, to whom, and at what price. {T}he authors observe that real markets are affected by power relations and structured through social institutions rather than being the sum of interactions between free and competitive individuals. {T}hese findings show the importance of integrating self-employment programmes into broader policies for transforming the social regulation of markets and for eradicating discrimination against women and lower castes.},
  keywords = {{INDE} ; {ANDHRA} {PRADESH}},
  booktitle = {},
  journal = {{D}evelopment and {C}hange},
  volume = {46},
  numero = {6},
  pages = {1277--1301},
  ISSN = {0012-155{X}},
  year = {2015},
  DOI = {10.1111/dech.12197},
  URL = {https://www.documentation.ird.fr/hor/fdi:010069005},
}