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Norms and Values of the Various Microfinance Institutions

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  • Marek Hudon

Abstract

This article studies the role of norms and values in the microfinance sector. Microfinance projects implemented in India use a wide range of different organizational structures. 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 (MFIs) base their interactions on rigid norms or rules; while others are based on values. We argue 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.

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Bibliographic Info

Paper provided by ULB -- Universite Libre de Bruxelles in its series Working Papers CEB with number 08-006.RS.

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Length: 29 p.
Date of creation: 2008
Date of revision:
Publication status: Published by:
Handle: RePEc:sol:wpaper:08-006

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Keywords: microfinance; norms; values; India; inclusive;

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Cited by:
  1. 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.
  2. Marc Labie & Anaïs Périlleux, 2008. "Corporate governance in microfinance: credit unions," Working Papers CEB 08-003.RS, ULB -- Universite Libre de Bruxelles.
  3. 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.

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