Microfinance And Public Policy: Outreach, Performance and Efficiency

Hardcover | December 1, 2007

EditorBernd Balkenhol

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Microfinance institutions (MFIs) provide a public good: they provide income-creating financial services to un-bankable people. If MFIs create and deepen markets where none existed before, there may be a case for public support. While subsidies are generally not favorably seen in financial sector development, being difficult to target and possibly distorting the local financial market, there may be situations where the net social benefits of micro-finance may exceed those of not doing anything and of alternative anti-poverty programs. Under such circumstances longer-term public support may be justifiable. This book is based on a study of forty-five MFIs carried out by ILO, in partnership with the Universities of Geneva and Cambridge. The application of factor analysis and cluster analysis shows that MFIs form clusters in terms of social and performance. Within each cluster there is one institution that is most efficient on both scores. Public support should ensure that the relative efficiency of MFIs is enhanced, it should not prod MFIs to modify their mission and position between poverty outreach and profitability.

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Microfinance institutions (MFIs) provide a public good: they provide income-creating financial services to un-bankable people. If MFIs create and deepen markets where none existed before, there may be a case for public support. While subsidies are generally not favorably seen in financial sector development, being difficult to target a...

BERND BALKENHOL heads the Social Finance Program of the International Labour Office (ILO). SFP is the focal point for work in the ILO on financial sector issues. It examines the impact of financial policies on employment, incomes and social cohesion, analyses the accessibility of different types of financial institutions and promotes ...

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Format:HardcoverDimensions:194 pages, 8.56 × 6.06 × 0.8 inPublished:December 1, 2007Publisher:Palgrave MacmillanLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0230547028

ISBN - 13:9780230547025

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Table of Contents

PART I: INTRODUCTION * Efficiency and Sustainability in Microfinance--B.Balkenhol * PART II: CONCEPTUAL FRAMEWORK * Poverty versus Inequality--A.Diop, I.Hillenkamp & J.M.Servet * Poverty Reduction through Microfinance: A Capability Perspective--F.Comim * Achieving Poverty Outreach, Impact and Sustainability: Managing Trade-Offs in Microfinance--A.Simanowitz * Smart Subsidies--J.Morduch * PART III: EMPIRICAL ANALYSIS * Efficiency in Microfinance Institutions: An Application of Data Envelopment Analysis to MFIs in Peru--Y.Flückiger & A.Vassiliev * Efficiency in Financial Intermediation: Theory and Empirical Measurement--T.Beck * Efficiency Drivers and Constraints: Empirical Findings--Y.Hamed * Measuring the Performance of MFIs: An Application of Factor Analysis--G.F.Luzzi & S.Weber * PART IV: SELECTED COUNTRY STUDIES * Contextual Factors Determining Poverty Outreach and Financial Performance: The Case of Mali--R.Serra, F.Botti & M.Cherel-Robson * Contextual Factors Determining Poverty Outreach and Financial Performance: The Case of Morocco--S.F.Meknassi * Contextual Factors Determining Poverty Outreach and Financial Performance: The Case of Central and Eastern Europe--J.Pytkowska * Auctioning Subsidies: Chile's 'Access to Credit Program'--V.S.Merino * PART V: CONCLUSIONS * Policy Implications--B.Balkenhol