Scholarly Insights and Trends in Microfinance Institutions: A Bibliometric Perspective

Abstract

This is a bibliometric study that examines the patterns, emerging areas of focus and leading players of the research microfinance. Microfinance is a social innovation that provides financial services to disadvantaged populations and has attracted considerable scholarly interest. However, the literature continues to be non-linear and various research themes are not coherently synthesized. This study is aimed at mapping the development and trajectory of the research in microfinance, critical issues investigated by the literature, and contributions to the direction of new research questions. In this undertaking, a bibliometric analysis… was undertaken with a total of more than 3,050 articles published in 1987. This study shows a significant upward trend of research in microfinance with an Annual Growth Rate of 15.08% and an Average Citation per Document of 14.66. The research corroborates the shift towards research on financial inclusion, technology, and entrepreneurship and the focus on microfinance. The thematic analysis divides the microfinance studies into three main themes: the effects of microfinance, management and performance, and the interface of microfinance with new technologies that include FinTech. The key generous papers and authors who made an impact on the field were identified, and the theoretical framework alongside the methods were developed, and the conclusion is that the further research should be aimed at the integration of hi-tech solutions, including blockchain and mobile banking, in microfinance, and more empirical research should be conducted to assess the social effect of microfinance institutions (MFIs). These findings can be used by policymakers and practitioners to improve policies on financial inclusion. The bibliometric knowledge presented in the current study is an excellent source of information to both novice researchers and professional academicians wishing to make contributions to the field of microfinance.