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Norms and values of the various microfinance institutions

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Author Info

  • Marek Hudon

Abstract

Purpose – The paper aims to study the role of norms and values in the microfinance sector. Design/methodology/approach – The paper provides a combination of narrative with argument and analysis. Findings – A classification of the sector is proposed, mapping the institutions along two axes: the profit motive (profit vs not-for-profit) and the decision-making style (centralized vs un-centralized). Some microfinance institutions base their interactions on rigid norms or rules; while others are based on values. It is argued that the private sector will tend to produce the operating rules of the microfinance system while the not-for-profit institutions that are using an inclusive decision-making process are more likely to influence the ethical norms in the sector. Nevertheless, this classification is not static as recent events in South-India shows that norms, such as the interest rates, can be politically and emotionally invested to the point that they are about to become values in the sector. Originality/value – The conclusions drawn help in understanding the interactions between the various actions in microfinance. Exploiting the full range of the possibilities of those different structures may be valuable for a fully successful development in India.

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Bibliographic Info

Article provided by Emerald Group Publishing in its journal International Journal of Social Economics.

Volume (Year): 35 (2008)
Issue (Month): 1 (January)
Pages: 35-48

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Handle: RePEc:eme:ijsepp:v:35:y:2008:i:1:p:35-48

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Related research

Keywords: Financial analysis; Financial institutions; India; Value analysis;

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Citations

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Cited by:
  1. Marc Labie & Anaïs Périlleux, 2008. "Corporate governance in microfinance: credit unions," Working Papers CEB 08-003.RS, ULB -- Universite Libre de Bruxelles.
  2. Paul, Bénédique & Garrabé, Michel, 2011. "Le capital institutionnel dans l'analyse du développement : Prolongement théorique et premier test empirique
    [Institutional Capital in Economic Development Analysis: Theoretical Continuation and     ," MPRA Paper 39016, University Library of Munich, Germany.
  3. Koen Rossel-Cambier, 2011. "Is Combined Microfinance an Instrument to enhance Sustainable Pro-Poor Public Policy Outcomes?," Working Papers CEB 11-013, ULB -- Universite Libre de Bruxelles.

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