Microfinance in Fishery Sector: Social Capital as an Agent of Empowerment

  • Naik .V* V
  • et al.
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Abstract

The paper is a critical review of studies to understand the role of social capital in the empowerment of fishing communities who avail the assistance of microfinance institutions. The findings showed that studies on empowerment of communities by social capital were less. However, a substantial amount of studies analysed the concept of deployment of social capital as an assertion for the repayments of the loans obtained from the microfinance institutions. In addition to the above, the number of studies on the function of social capital in the empowerment of fishing communities who obtained financial assistances from microfinance institutions was rare. Although a few studies that investigated the attainment of knowledge and balanced utilisation of the available resources were obtained, studies that concentrated extensively on the on the beneficiaries in the fishery sector were found to be scarce. There were a sparse number of studies that elucidated the characteristics of the microfinance institutions as well as the groups of the beneficiaries of these institutions that affect the generation of a strong social capital among the group members. In conclusion, this review opens up various avenues for future research. Studies that scrutinise the difficulties of the members of self-help groups in the fisheries sector in employing the knowledge gained and resources attained from social capital established in their group and the consequent changes in their performance in their business can be carried out. Apart from the aforementioned future study opportunity, comprehensive studies on the policies to develop the social capital of the groups of the beneficiaries of the microfinance institutions can be carried out.

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APA

Naik .V*, V., & Reddy, Dr. C. M. B. (2019). Microfinance in Fishery Sector: Social Capital as an Agent of Empowerment. International Journal of Recent Technology and Engineering (IJRTE), 8(4), 7059–7063. https://doi.org/10.35940/ijrte.d5235.118419

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