IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/49549.html
   My bibliography  Save this paper

Factors Influencing Portfolio Yield of Microfinance Institutions in Central Asia

Author

Listed:
  • Janda, Karel
  • Turbat, Batbayar

Abstract

We analyze the determinants of portfolio yield of microfinance institutions in Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Azerbaijan, Mongolia, Afghanistan, and China over the period 1998-2011. We confirm that targeting women borrowers improves the financial results of microfinance institutions whereas the effectiveness of group lending or advantages of rural lending, in contrast to the initial expectations, were not confirmed. We also consider the contributions of different governance forms of microfinance institutions and the macroeconomic factors potentially influencing the financial performance of microfinance institutions. As a part of this paper we also provide a self contained introduction to microfinance theory for a reader not familiar with microfinance

Suggested Citation

  • Janda, Karel & Turbat, Batbayar, 2013. "Factors Influencing Portfolio Yield of Microfinance Institutions in Central Asia," MPRA Paper 49549, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:49549
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/49549/1/MPRA_paper_49549.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Michal Bauer & Julie Chytilova & Jonathan Morduch, 2012. "Behavioral Foundations of Microcredit: Experimental and Survey Evidence from Rural India," American Economic Review, American Economic Association, vol. 102(2), pages 1118-1139, April.
    2. Lenka Dokulilová & Karel Janda & Pavel Zetek, 2009. "Sustainability of Microfinance Institutions in Financial Crisis," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2009(2), pages 7-33.
    3. Orazio Attanasio & Britta Augsburg & Ralph De Haas & Emla Fitzsimons & Heike Harmgart, 2011. "Group lending or individual lending? Evidence from a randomised field experiment in Mongolia," IFS Working Papers W11/20, Institute for Fiscal Studies.
    4. Mersland, Roy & Strøm, Reidar Øystein, 2007. "Performance and corporate governance in microfinance institutions," MPRA Paper 3888, University Library of Munich, Germany.
    5. Abigail Barr & Bill Kinsey, 2002. "Do men really have no shame?," CSAE Working Paper Series 2002-05, Centre for the Study of African Economies, University of Oxford.
    6. Anthony Kyereboah‐Coleman & Kofi A. Osei, 2008. "Outreach and profitability of microfinance institutions: the role of governance," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 35(3), pages 236-248, August.
    7. Xavier Giné & Pamela Jakiela & Dean Karlan & Jonathan Morduch, 2010. "Microfinance Games," American Economic Journal: Applied Economics, American Economic Association, vol. 2(3), pages 60-95, July.
    8. Karel Janda & Barbora Svarovska, 2012. "Suitability of Microfinance as an Investment Option," CERGE-EI Working Papers wp470, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    9. Mersland, Roy & Øystein Strøm, R., 2009. "Performance and governance in microfinance institutions," Journal of Banking & Finance, Elsevier, vol. 33(4), pages 662-669, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kadyrbek Sultakeev & Kamalbek Karymshakov & Burulcha Sulaimanova, 2018. "The Impact Of Microfinance On Entrepreneurship In Kyrgyzstan," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2018(2), pages 24-40.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Janda, Karel & Turbat, Batbayar, 2013. "Econometric Analysis of Profitability of Microfinance Institutions in Selected Asian Countries," MPRA Paper 51430, University Library of Munich, Germany.
    2. Nawaz, Ahmad & Iqbal, Sana, 2015. "Financial Performance And Corporate Governance In Microfinance: Who Drives Who? An Evidence From Asia," MPRA Paper 65327, University Library of Munich, Germany.
    3. Janda, Karel & Zetek, Pavel, 2014. "Mikrofinanční Revoluce: Aktuální Kontroverze A Výzvy [Microfinance Revolution: Recent Controversies And Challenges]," MPRA Paper 54098, University Library of Munich, Germany.
    4. Janda, Karel & Zetek, Pavel, 2014. "Survey of Microfinance Controversies and Challenges," MPRA Paper 56657, University Library of Munich, Germany.
    5. Karel Janda & Pavel Zetek, 2015. "Mikrofinanční revoluce: kontroverze a výzvy [Microfinance Revolution: Controversies and Challenges]," Politická ekonomie, Prague University of Economics and Business, vol. 2015(1), pages 108-130.
    6. Shubhashis Gangopadhyay & S.K. Shanthi, 2012. "Governance Issues in Indian Microfinance," Chapters, in: James R. Barth & Chen Lin & Clas Wihlborg (ed.), Research Handbook on International Banking and Governance, chapter 36, Edward Elgar Publishing.
    7. Nawaz, Ahmad & Iqbal, Sana, 2015. "Does Social Performance Drives Corporate Governance Mechanism in MFIs? An Issue of Endogeneity," MPRA Paper 65312, University Library of Munich, Germany.
    8. James R. Barth & Chen Lin & Clas Wihlborg (ed.), 2012. "Research Handbook on International Banking and Governance," Books, Edward Elgar Publishing, number 14045.
    9. Niels Hermes & Marek Hudon, 2018. "Determinants Of The Performance Of Microfinance Institutions: A Systematic Review," Journal of Economic Surveys, Wiley Blackwell, vol. 32(5), pages 1483-1513, December.
    10. Ben Soltane BASSEM, 2011. "Governance Quality and MFIS Repayment Performance," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 8, pages 159-168, December.
    11. Gharad Bryan & Dean Karlan & Jonathan Zinman, 2012. "You Can Pick Your Friends, But You Need to Watch Them: Loan Screening and Enforcement in a Referrals Field Experiment," Working Papers 1009, Economic Growth Center, Yale University.
    12. Manuela Angelucci, Dean Karlan, Jonathan Zinman, 2013. "Win Some Lose Some? Evidence from a Randomized Microcredit Program Placement Experiment by Compartamos Banco-Working Paper 330," Working Papers 330, Center for Global Development.
    13. Dean Karlan & Adam Osman & Jonathan Zinman, 2013. "Follow the Money: Methods for Identifying Consumption and Investment Responses to a Liquidity Shock," NBER Working Papers 19696, National Bureau of Economic Research, Inc.
    14. Dan Brockington & Nicola Banks, 2014. "Exploring the Success of BRAC Tanzania’s Microcredit Programme," Global Development Institute Working Paper Series 20214, GDI, The University of Manchester.
    15. Xavier Giné & Pamela Jakiela & Dean Karlan & Jonathan Morduch, 2010. "Microfinance Games," American Economic Journal: Applied Economics, American Economic Association, vol. 2(3), pages 60-95, July.
    16. Mohamed Adaskou & Hssoune Abdelkarim, 2021. "Determinants of the financial viability of Moroccan microcredit associations: An analysis by panel data [Les déterminants de la viabilité financière des associations de microcrédit marocaines : Une," Post-Print hal-04232431, HAL.
    17. Aaron H. Anglin & Jeremy C. Short & David J. Ketchen Jr. & Thomas H. Allison & Aaron F. McKenny, 2020. "Third-Party Signals in Crowdfunded Microfinance: The Role of Microfinance Institutions," Entrepreneurship Theory and Practice, , vol. 44(4), pages 623-644, July.
    18. Inoue, Takeshi & Hamori, Shigeyuki, 2011. "Financial permeation as a role of microfinance : has microfinance actually been helpful to the poor?," IDE Discussion Papers 299, Institute of Developing Economies, Japan External Trade Organization(JETRO).
    19. Lars Ivar Oppedal Berge & Kjetil Bjorvatn & Bertil Tungodden, 2015. "Human and Financial Capital for Microenterprise Development: Evidence from a Field and Lab Experiment," Management Science, INFORMS, vol. 61(4), pages 707-722, April.
    20. Ahmad Nawaz & Sana Iqbal & Sadaf Ehsan, 2018. "Does Social Performance Drive Corporate Governance Mechanism In Case of Asian MFIs? An Issue of Endogeneity," Global Business Review, International Management Institute, vol. 19(4), pages 988-1012, August.

    More about this item

    Keywords

    Microfinance; Central Asia; Earnings.;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • P34 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Finance

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:49549. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.