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Microfinance and Poverty—A Macro Perspective

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Author Info

  • Imai, Katsushi S.
  • Gaiha, Raghav
  • Thapa, Ganesh
  • Annim, Samuel Kobina

Abstract

We test the hypothesis that microfinance reduces poverty at the macro level using cross-country and panel data which are constructed by the Microfinance Information Exchange data on Microfinance Institutions (MFIs) and the World Bank data. Taking account of the endogeneity associated with MFIs’ loans, we show that a country with higher MFIs’ gross loan portfolio per capita tends to have lower levels of poverty indices. Contrary to recent micro evidence, our results suggest that microfinance significantly reduces poverty at macro level and thus reinforce the case for channeling funds from development finance institutions and governments of developing countries into MFIs.

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File URL: http://www.sciencedirect.com/science/article/pii/S0305750X12000745
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Bibliographic Info

Article provided by Elsevier in its journal World Development.

Volume (Year): 40 (2012)
Issue (Month): 8 ()
Pages: 1675-1689

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Handle: RePEc:eee:wdevel:v:40:y:2012:i:8:p:1675-1689

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Web page: http://www.elsevier.com/locate/worlddev

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Keywords: microfinance; poverty; loan portfolio; macro and global;

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  1. Morduch, Jonathan, 1999. "The role of subsidies in microfinance: evidence from the Grameen Bank," Journal of Development Economics, Elsevier, vol. 60(1), pages 229-248, October.
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Cited by:
  1. Katsushi S. Imai & Raghav Gaiha & Ganesh Thapa & Samuel Kobina Annim, 2013. "Financial Crisis in Asia: Its Genesis, Severity and Impact on Poverty and Hunger," Discussion Paper Series DP2013-10, Research Institute for Economics & Business Administration, Kobe University.
  2. Katsushi S. Imai & Raghav Gaiha & Ganesh Thapa & Samuel Kobina Annim & Aditi Gupta, 2012. "Financial Performance of Microfinance Institutions-A Macroeconomic and Institutional Perspective," Discussion Paper Series DP2012-04, Research Institute for Economics & Business Administration, Kobe University.

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