Microfinance: A bibliometric exploration of the knowledge landscape

Abstract

Microfinance has gained significant attention as a social innovation, offering flexible and low-cost financial services to households who are otherwise excluded from formal financial services. Over the years, numerous research works have expanded the knowledge base of microfinance. Applying bibliometrics, we summarize findings from 1599 articles published between 1987 and 2022. Our performance analysis reveals insights into the research trend, including its geographical distribution, the theories under examination, and the most influential publications. More importantly, the knowledge foundation and thematic analysis categorize microfinance research into three broad themes, viz. impact of microfinance, management of microfinance and performance and efficiency of microfinance. Furthermore, we trace the evolution of various research topics and forecast future trends using periodical average publication years over time. This study, therefore, serves as a valuable reference in microfinance research both for new researchers and seasoned academics, as well as policymakers, providing insights into research trends, seminal works, and future directions.