Money and Microenterprises in Bhutan: The Land of Zorig Chug Sum Thirteen Arts and Crafts

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Item Code: IDJ412
Author: Saamdu Chetri & Samirendra Nath Dhar
Publisher: Sterling Publishers Pvt. Ltd.
Language: English
Edition: 2004
ISBN: 8120727655
Pages: 293
Cover: Hardcover
Other Details 8.5 inch X 5.5 inch
Weight 500 gm
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Book Description

From the Jacket

The book money Microenterprises in Bhutan is based on empirical study. It investigates how microfinance system applies to Bhutan, assesses the problems and prospects of microenterprises and analyses the role of various agencies, particularly the financial institutions in meeting the vital needs of the mincroenterprises for finance. It is said that the major problem of the microenterprises is financial in nature.

Providing an overview of economic development and growth of microenterprises in Bhutan, the book confirms that microenterprises have started as early as human inhabitation and were rural based. In Bhutan they began in the form of Zoring chug Sum (thirteen arts and crafts), which were slacked in the face of development. Growth of microenterprises in Bhutan has begun only about two decades ago. The book reflects the importance and need of microenterprises in a developing economy like Bhutan, especially when it is moving from subsistence farming to modern economy. The book examines the role of money-lenders in lending to microenterprises, problems faced and their operating system in Bhutan.

The book delves into the problems of financial systems/intermediation and answers numerous questions in the subject basing its study on a basic hypothesis: Development of the financial system in Bhutan has resulted in proper and easier access to credit for microenterprises. Various other hypotheses related to his were advanced and statistically tested when required in the course of the study. The study lays a foundation in the study. The study lays a foundation in the subject to enable policy makers and future researchers to examine further the need of microenterprises and how to address their future growth and development.

Dr. Saamdu Chetri, born in a farming family in Bhutan, started his higher education Late in life. He graduated in Commerce from the University of Punjab, Chandigarh. In June 1991, he postgraduated with a certificate in Human Resource Management from the University of Manchester, UK, and in December 1993, he completed his Masters in Commerce from the University of Osmania, Hyderabad. He is working with Helvetas/SDC-Bhutan, a Swiss International Organisation, which has been providing development assistance to Bhutan since 1975.

He has travelled extensively in Asian and European regions, and has attended a number of conferences, workshops, and meetings on conferences, workshops, and meetings on different subjects of development and planning. He has a number of articles and papers to his credit in different books, journals, magazines, and national newspapers. He has also given a number of lectures in a college in Switzerland.

Dr. Samirendra Nath Dhar, born in Cooch Bihar district of West Bengal, earned his degree in Bcom. MCom and MBA. His field of expertise are management, taxation, and microfinance. He has held a number of prestigious positions at the University of North Bengal (NBU), Darjeeling and is presently a Reader in the Department of Commerce.

Apart from the 25 papers presented and published to his credit, he has also recently completed three projects in "financing Women Microenterpreneurs in North Bengal - Role of UBKG Bank", "Study of Livelihood of Tea Garden Workers in Dooars Regions" and "Socio-economic Perspective Plan or North Bengal (2001-2010)". He is an active member of several professional institutions and participates in different events of the university.


Microenterprises have been and still are in many countries, the promoters of economic development. They do have a large employment potential: they can contribute to better distribution of national resources and income, and bring about regionally balanced development.

However, there are numerous problems faced by this important sector of the economy. Accessibility to finance has been identified as one of the major impediments to development and growth of microenterprises in developing countries; this study confirms similar findings in Bhutan too. Only too often, financial constraints are also at the root of problems in other fields, such as technology, training, marketing, etc. The government's intervention, in the past, to provide subsidies to micro and small businesses has distorted the financial market. Therefore, teach to fish the needy rather than fish for him, still holds good in this context also.

In the present book, the authors have analysed the role of formal and non-formal financial markets in meeting the vital need of finance to microenterprises in Bhutan. The study, which has been scientifically carried out, provides a large source of valuable information and data. It lays a foundation stone to the subject in Bhutan. The book makes it clear that there is a lot of scope for improvement in the sector of microfinance. Financial institutes would need to change their perception on microenterprises and provide better access to credit, specialized microfinance institutions and NGOs focusing on microfinance have to come to the forefront, and government needs to put more emphasis on creating a conducive environment for microenterprises.

The book is a source of valuable information on the subject for the Royal Government of Bhutan, development partners as well as researchers. The financial institutes and institutions concerned can make good use of the findings and suggestions. I would like to congratulate the authors for their hard work and in depth research in the field of microfinance in Bhutan, and through this foreword encourage other scholars to continue such studies in future.




  Foreword vii
  Acknowledgements ix
  Glossary and Abbreviations xi
  Prologue xv
1 Microenterprises in Bhutan: An Appraisal 2
2 Purpose and Methodology of the Study 38
3 Funds and Capital Composition of Microenterprises in Bhutan: An Overview 65
4 Formal Institutions in Bhutan: Role in Microfinancing 109
5 Moneylenders in the Land of Zorig Chug Sum: Boon or Bane? 157
6 Financing Microenterprises: Borrowers' Problems and Preferences 195
7 Major Findings and Policy Implications 217
  Appendices 235
  A. Selected Bibliography  
  B. Tables and figures  
  C Sample List of Microenterprises  
  Index 285

Sample Pages

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