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Las microfinanzas en la profundización del sistema financiero. El caso de Bolivia


  • González-Vega, Claudio

    (The Ohio State University)

  • Villafani-Ibarnegaray, Marcelo

    (The Ohio State University)


This article examines the role that regulated Micro Finance Organizations (MFO) have played in the Bolivian financial sector development. Using occasional references, the paper also acknowledges the contribution of non-regulated MFO in improving welfare of poor population sectors. Among policy lessons, the results suggest that microfinance is important in developing financial deepening in similar countries, such as those in the region.// El artículo examina el papel que el sector de las organizaciones de microfinanzas reguladas -conforme al marco prudencial- ha desempeñado en el desarrollo del sistema financiero boliviano. Con referencias ocasionales, reconoce las contribuciones de las microfinanzas no reguladas en propiciar aumentos del bienestar de hogares en estratos pobres de la población. Si bien Bolivia es un caso especialmente exitoso, las lecciones registradas apuntan a las contribuciones potenciales de las microfinanzas a la profundización financiera en países semejantes.

Suggested Citation

  • González-Vega, Claudio & Villafani-Ibarnegaray, Marcelo, 2007. "Las microfinanzas en la profundización del sistema financiero. El caso de Bolivia," El Trimestre Económico, Fondo de Cultura Económica, vol. 0(293), pages 5-65, enero-mar.
  • Handle: RePEc:elt:journl:v:74:y:2007:i:293:p:5-65

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    Cited by:

    1. Rodolfo Cermeño & María Roa García & Claudio González-Vega, 2012. "Financial Development and Volatility of Growth: Time Series Evidence for Mexico and USA," DEGIT Conference Papers c017_035, DEGIT, Dynamics, Economic Growth, and International Trade.
    2. Rodolfo Cermeño & María José Roa, 2013. "Desarrollo financiero, crecimiento y volatidad: Revisión de la literatura reciente," Documentos de Investigación - Research Papers 9, Centro de Estudios Monetarios Latinoamericanos, CEMLA.
    3. repec:cml:moneta:v:iv:y:2016:i:2:p:195-232 is not listed on IDEAS
    4. César P. Bouillon & Luis Tejerina, 2006. "Do We Know What Works?: A Systematic Review of Impact Evaluations of Social Programs in Latin America and the Caribbean," IDB Publications (Working Papers) 2801, Inter-American Development Bank.


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