Impact Evaluation of multilateral Development Policy under special consideration of Microcredits in the Federative Republic of Brazil
The worldwide reactions on humanitarian conflicts, global migration flows or terror attacks show that the violation of human rights in one part of the world also heavily affects the rest of the world. The world economy has passed through a variety ofpolitical and crises recently which have enhanced a vigorous debate about the economic and political interdependencies of industrialized and developing countries. Major parts of the discussion have been the choice of adequate instruments to enhance development as well as the appropriate forms of development cooperation. Ever since the start of development policy in 1949 there has been skepticism about the effectiveness of development policy. Lately it has been criticized that the impoverished parts of the local population in developing countries are not able to participate in the design of the development process; therefore the combat of poverty is not as successful as is could be. In this context, new development programs and initiatives were established to foster the locals’ participation, promote sustainability and ensure welloperating financial systems. Microcredits are amongst those methods of development policy aiming to promote inclusive financial systems and poverty reduction. Since the 1970s microcredits have become a popular instrument of multilateral development policy. In 2006 the Nobel Peace Prize was awarded to microcredit pioneer Muhammad Yunus to acknowledge his achievments in terms of poverty reduction and social development. Furthermore, the United Nations declared the year 2005 as the Year of Microcredit; in this context the UN tried to raise awareness of microcredits and emphasized the contribution of microcrediting to the achievement of the Millennium Development Goals. Today microcredits are used in all parts of the world, but they especially reached outreach and scale in Asia and Latin America. Development policy has to encounter the challenge of how to integrate emerging countries successfully into the world economic order and to ensure a sustainable social and economic development. The strong population growth of emerging economic powers such as India, China or Brazil combined with urbanization and technological progress in the context of a globalized world will change the social structures and the world’s political balance in the twenty-first century.
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