From Revolution to Evolution: Charting the Main Features of Microfinance 2.0
AbstractThe past thirty years or so has seen microfinance take off from small group-based lending experiments to several thousand financial service providers (FSPs) serving a growing portion of the developing world today. Nevertheless, the challenge to improve broadbased access to financial servicesâ€”going beyond credit and into other products such as savings, insurance and money transfer servicesâ€”remains. Where is the microfinance industry headed? This essay reviews the available evidence, and argues that both the public and private spheres are crucial to the continued dynamism and expansion of the microfinance industryâ€”the private sector as a continued source of product and process innovations; and the public sector taking on a strong market enabling and development role.
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Bibliographic InfoPaper provided by Fordham University, Department of Economics in its series Fordham Economics Discussion Paper Series with number dp2008-03.
Date of creation: 2008
Date of revision:
Microfinance; market failures; information; innovation;
Find related papers by JEL classification:
- D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-03-01 (All new papers)
- NEP-DEV-2008-03-01 (Development)
- NEP-MFD-2008-03-01 (Microfinance)
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