Microfinance and public policy : outreach, performance and efficiency

• Main Author: Balkenhol, B
• Format: eBook Book
• Language: English
• Published: London Palgrave Macmillan 2007; International Labour Office; Palgrave Macmillan UK
• Edition: 1
• Subjects: Case studies; Developing countries; Finance; Financial aid; Institutions; Management science; Microfinance; Microfinance > Developing countries > Case studies; Poverty; Poverty > Developing countries > Case studies; Poverty alleviation; Public policy; Small business; Small business > Developing countries > Finance > Case studies
• ISBN: 9780230547025; 0230547028; 9221193470; 9789221193470
• DOI: 10.1057/9780230300026

The goal of microfinance institutions (MFIs) is to help the poor to cope better with risk, take advantage of small income generating opportunities and empower themselves through organization. To have this impact on an increasing number of people MFIs need to be financially sound and sustainable. Thi...

Table of Contents:

• 7.1 Introduction -- 7.2 Interest spreads and credit rationing: theory -- 7.3 Interest spreads and credit rationing: cross-country evidence -- 7.4 Decomposing spreads -- 7.5 Explaining spreads -- 7.6 Conclusions and policy lessons -- 8 Efficiency Drivers and Constraints: Empirical Findings -- 8.1 Introduction -- 8.2 Methodology -- 8.3 The data -- 8.4 MFI clusters -- 8.5 Performance drivers and constraints -- 8.6 Conclusions -- 9 Measuring the Performance of MFIs: An Application of Factor Analysis -- 9.1 Introduction -- 9.2 The data -- 9.3 Factor analysis: theory and practice -- 9.4 Cluster analysis -- 9.5 Assessing what determines performance -- 9.6 Conclusions -- Part IV Selected Country Studies -- 10 Contextual Factors Determining Poverty Outreach and Financial Performance: The Case of Mali -- 10.1 Introduction -- 10.2 Domestic contextual factors: institutions, state and markets -- 10.3 External factors: the implications of subsidy withdrawal -- 10.4 Conclusion -- 11 Contextual Factors Determining Poverty Outreach and Financial Performance: The Case of Morocco -- 11.1 Introduction -- 11.2 Institutional context -- 11.3 Support by banks -- 11.4 Subsidies -- 11.5 Conclusion -- 12 Contextual Factors Determining Poverty Outreach and Financial Performance: The Case of Eastern Europe and Central Asia -- 12.1 Introduction -- 12.2 Access to resources -- 12.3 Financial performance -- 12.4 Social performance -- 13 Auctioning Subsidies: Chile's 'Access to Credit Program' -- 13.1 Introduction -- 13.2 Microenterprises in Chile -- 13.3 Has the PAC achieved its goals? -- 13.4 Conclusions -- Part V Conclusions -- 14 Policy Implications -- 14.1 Global donor support to microfinance -- 14.2 Weight of subsidies in microfinance -- 14.3 What prompts public policy support to MFIs? -- 14.4 General effects of public policy on efficiency in microfinance at the sectoral level
• Intro -- Half Title -- Title -- Copyright -- Contents -- List of Tables -- List of Figures and Boxes -- List of Abbreviations -- Acknowledgements -- Foreword -- Notes on Contributors -- Part I Introduction -- 1 Efficiency and Sustainability in Microfinance -- 1.1 Promise and achievements -- 1.2 Efficiency in the microfinance literature -- 1.3 Efficiency: the concept -- 1.4 Applicability of efficiency concepts in microfinance -- 1.5 Efficiency versus financial sustainability -- 1.6 Structure of the book -- Part II Conceptual Framework -- 2 Poverty versus Inequality -- 2.1 Introduction -- 2.2 Defining and measuring poverty -- 2.3 How microfinance can help reduce poverty -- 2.4 Poverty reduction and financial performance -- 2.5 Can microfinance reach the poor? -- 2.6 The harmful side-effects: increased disparities -- 3 Poverty Reduction through Microfinance: A Capability Perspective -- 3.1 Introduction -- 3.2 Who are the poor? What are the issues? -- 3.3 Positive mechanisms -- 3.4 Negative mechanisms -- 3.5 A capability perspective -- 4 Achieving Poverty Outreach, Impact and Sustainability: Managing Trade-offs in Microfinance -- 4.1 Introduction: combining social and financial objectives -- 4.2 Trade-offs -- 4.3 Managing trade-offs -- 4.4 Conclusions -- 5 Smart Subsidies -- 5.1 Introduction -- 5.2 Subsidies and microfinance -- 5.3 Valuing subsidies -- 5.4 'Crowding in' and 'crowding out' -- 5.5 Conclusions -- Part III Empirical Analysis -- 6 Efficiency in Microfinance Institutions: An Application of Data Envelopment Analysis to MFIs in Peru -- 6.1 Introduction -- 6.2 Previous research on MFIs' performance evaluation -- 6.3 Performance analysis methodology -- 6.4 Data sources and variable construction -- 6.5 Efficiency analysis with the DEA model -- 6.6 Conclusions -- 7 Efficiency in Financial Intermediation: Theory and Empirical Measurement
• 14.5 Support measures affecting the efficiency of individual MFIs -- 14.6 The way forward: how to support the best of class and the others -- Annex I The GIAN Survey -- Annex II Multivariate analysis and classification: social and financial performance -- Annex III Multivariate analysis and classification: efficiency, social and financial performance -- Bibliography -- Index
• Cover -- Half-Title -- Title -- Copyright -- Contents -- List of Tables -- List of Figures and Boxes -- List of Abbreviations -- Acknowledgements -- Foreword -- Notes on Contributors -- Part I: Introduction -- 1 Efficiency and Sustainability in Microfinance -- 1.1 Promise and achievements -- 1.2 Efficiency in the microfinance literature -- 1.3 Efficiency: the concept -- 1.4 Applicability of efficiency concepts in microfinance -- 1.5 Efficiency versus financial sustainability -- 1.6 Structure of the book -- Part II: Conceptual Framework -- 2 Poverty versus Inequality -- 2.1 Introduction -- 2.2 Defining and measuring poverty -- 2.3 How microfinance can help reduce poverty -- Untitled -- 2.5 Can microfinance reach the poor? -- 2.6 The harmful side-effects: increased disparities -- Part III: Empirical Analysis -- 6 Efficiency in Microfinance Institutions: An Application of Data Envelopment Analysis to MFIs in Peru -- 6.1 Introduction -- 6.2 Previous research on MFIs' performance evaluation -- 6.3 Performance analysis methodology -- 6.4 Data sources and variable construction -- 6.5 Efficiency analysis with the DEA model -- 6.6 Conclusions -- 7 Efficiency in Financial Intermediation: Theory and Empirical Measurement -- 7.1 Introduction -- 7.2 Interest spreads and credit rationing: theory -- 7.3 Interest spreads and credit rationing: cross-country evidence -- 7.4 Decomposing spreads -- 7.5 Explaining spreads -- 7.6 Conclusions and policy lessons -- 8 Efficiency Drivers and Constraints: Empirical Findings -- 8.1 Introduction -- 8.2 Methodology -- 8.3 The data -- 8.4 MFI clusters -- 8.5 Performance drivers and constraints -- 8.6 Conclusions -- 9 Measuring the Performance of MFIs: An Application of Factor Analysis -- 9.1 Introduction -- 9.2 The data -- 9.3 Factor analysis: theory and practice -- 9.4 Cluster analysis
• 9.5 Assessing what determines performance -- 9.6 Conclusions -- Part IV: Selected Country Studies -- 10 Contextual Factors Determining Poverty Outreach and Financial Performance: The Case of Mali -- 10.1 Introduction -- 10.2 Domestic contextual factors: institutions, state and markets -- 10.3 External factors: the implications of subsidy withdrawal -- 10.4 Conclusion -- 11 Contextual Factors Determining Poverty Outreach and Financial Performance: The Case of Morocco -- 11.1 Introduction -- 11.2 Institutional context -- 11.3 Support by banks -- 11.4 Subsidies -- 11.5 Conclusion -- 12 Contextual Factors Determining Poverty Outreach and Financial Performance: The Case of Eastern Europe and Central Asia -- 12.1 Introduction -- 12.2 Access to resources -- 12.3 Financial performance -- 12.4 Social performance -- 13 Auctioning Subsidies: Chile's 'Access to Credit Program' -- 13.1 Introduction -- 13.2 Microenterprises in Chile -- 13.3 Has the PAC achieved its goals? -- 13.4 Conclusions -- Part V: Conclusions -- 14 Policy Implications -- 14.1 Global donor support to microfinance -- 14.2 Weight of subsidies in microfinance -- 14.3 What prompts public policy support to MFIs? -- 14.4 General effects of public policy on efficiency in microfinance at the sectoral level -- 14.5 Support measures affecting the efficiency of individual MFIs -- 14.6 The way forward: how to support the best of class and the others -- Annex I: The GIAN Survey -- Annex II: Multivariate analysis and classification: social and financial performance -- Annex III: Multivariate analysis and classification: efficiency, social and financial performance -- Bibliography -- Index