Survey of Microfinance Controversies and Challenges

Karel Janda and Pavel Zetek

MPRA Paper from University Library of Munich, Germany

Abstract: This survey article provides a brief but comprehensive overview of microfinance academic literature with emphasis on recent innovations, trends and efficiency. In particular, we focus on controversial issues of microfinance, such as commercialization, regulation, interest rate policy and the balance between outreach and performance of MFIs. In summary, the findings of the reviewed literature underline the great improvement in the microfinance field that, however, has not reached its full potential yet. At the same time, we outline potential risks and drawbacks which are being discovered along the way of microfinance development and maturing, many of which still waiting for more rigorous scholarly examination. The paper also contains an illustrative econometric model of the relation between social and financial efficiency.

Keywords: Microfinance; microcredit; efficiency; mission drift (search for similar items in EconPapers)
JEL-codes: G21 O11 O12 O16 (search for similar items in EconPapers)
Date: 2014-06-13
New Economics Papers: this item is included in nep-mfd
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Citations: View citations in EconPapers (1)

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