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The Road to Financial Sustainability. Comparative Analysis of Russia and the Caucasus Region

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  • Sheremenko, Ganna
  • Escalante, Cesar L.
  • Florkowski, Wojciech J.

Abstract

This paper examines delinquency, profitability, and outreach determinants of microfinance institutions’ (MFIs) performance in Russia and the Caucasus. The estimation is done using the Seemingly Unrelated Regression (SUR) technique. The estimation results suggest that Russian and Caucasian MFIs are profit-driven but are expected to improve outreach in the long-run.

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File URL: http://purl.umn.edu/119525
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Bibliographic Info

Paper provided by Southern Agricultural Economics Association in its series 2012 Annual Meeting, February 4-7, 2012, Birmingham, Alabama with number 119525.

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Date of creation: 2012
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Handle: RePEc:ags:saea12:119525

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Related research

Keywords: Microfinance institution; SUR; Financial sustainability; Delinquency; Profitability; Social outreach; Agricultural Finance; Financial Economics; G20; G21;

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  1. Barreto,Humberto & Howland,Frank, 2006. "Introductory Econometrics," Cambridge Books, Cambridge University Press, number 9780521843195, October.
  2. Erica Field & Rohini Pande, 2008. "Repayment Frequency and Default in Microfinance: Evidence From India," Journal of the European Economic Association, MIT Press, vol. 6(2-3), pages 501-509, 04-05.
  3. Armendáriz, Beatriz & Szafarz, Ariane, 2011. "On mission drift in microfinance institutions," MPRA Paper 31041, University Library of Munich, Germany, revised 2010.
  4. Jessica Schicks, 2007. "Developmental Impact and Coexistence of Sustainable and Charitable Microfinance Institutions: Analysing BancoSol and Grameen Bank," European Journal of Development Research, Taylor and Francis Journals, vol. 19(4), pages 551-568.
  5. Cull, Robert & Demirguc-Kunt, Asli & Morduch, Jonathan, 2006. "Financial performance and outreach : a global analysis of leading microbanks," Policy Research Working Paper Series 3827, The World Bank.
  6. Conning, Jonathan, 1999. "Outreach, sustainability and leverage in monitored and peer-monitored lending," Journal of Development Economics, Elsevier, vol. 60(1), pages 51-77, October.
  7. Pretes, Michael, 2002. "Microequity and Microfinance," World Development, Elsevier, vol. 30(8), pages 1341-1353, August.
  8. Ahmad Nawaz, 2010. "Issues in Subsidies and Sustainability of Microfinance: An Empirical Investigation," Working Papers CEB 10-010.RS, ULB -- Universite Libre de Bruxelles.
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