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Microfinance Regulation and Market Development in Latin America

Author

Listed:
  • Trujillo Veronica

    (Multilateral Investment Fund, member of the Inter-American Development Bank, Washington, DC, USA)

  • Rodriguez-Lopez Fernando
  • Muriel-Patino Victoria

    (Department of Applied Economics, Faculty of Law, University of Salamanca, Salamanca, Castilla y Leon, Spain)

Abstract

The evolution and development of microfinance markets is conditioned by external factors such as macroeconomic variables, institutional country level, availability of conflict resolution mechanisms, informal sector features, and applicable regulation. A careful design of the latter aspect is needed because it can either be a tool for promotion (by facilitating and making flexible microfinance institutions activities) or a restriction to market development by setting unnecessary limits or requirements. Considering these ideas, this paper analyzes the relationship between regulatory frameworks for microfinance in 17 Latin American countries and the level of development and specific features in its corresponding microfinance markets.

Suggested Citation

  • Trujillo Veronica & Rodriguez-Lopez Fernando & Muriel-Patino Victoria, 2014. "Microfinance Regulation and Market Development in Latin America," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 14(4), pages 1-29, October.
    • Handle: RePEc:bpj:bejeap:v:14:y:2014:i:4:p:29:n:10
    DOI: 10.1515/bejeap-2013-0145
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    References listed on IDEAS

    as
    1. Beatriz Armendáriz & Jonathan Morduch, 2010. "The Economics of Microfinance, Second Edition," MIT Press Books, The MIT Press, edition 2, volume 1, number 0262014106, December.
    2. Cull, Robert & Demirgüç-Kunt, Asli & Morduch, Jonathan, 2011. "Does Regulatory Supervision Curtail Microfinance Profitability and Outreach?," World Development, Elsevier, vol. 39(6), pages 949-965, June.
    3. Mersland, Roy & Øystein Strøm, R., 2009. "Performance and governance in microfinance institutions," Journal of Banking & Finance, Elsevier, vol. 33(4), pages 662-669, April.
    4. repec:idb:brikps:78868 is not listed on IDEAS
    5. International Monetary Fund, 2002. "Microfinance Institutions and Public Policy," IMF Working Papers 2002/159, International Monetary Fund.
    6. World Bank, 2012. "World Development Indicators 2012," World Bank Publications - Books, The World Bank Group, number 6014, December.
    7. Demirguc-Kunt, Asli & Klapper, Leora, 2012. "Measuring financial inclusion : the Global Findex Database," Policy Research Working Paper Series 6025, The World Bank.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

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    2. Adriana Ramírez Rocha & L. Arturo Bernal Ponce & Mauricio Cervantes Zepeda, 2019. "Differences in the interest rates of microfinance institutions in some emerging markets economies: An HLM approach/Diferencias en las tasas de interés entre instituciones financieras de algunas econo," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 34(2), pages 275-307.

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