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Norms and values of the various microfinance institutions

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  • Marek Hudon

Abstract

Purpose - The paper aims to study the role of norms and values in the microfinance sector. Design/methodology/approach - The paper provides a combination of narrative with argument and analysis. Findings - 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 base their interactions on rigid norms or rules; while others are based on values. It is argued 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. Originality/value - The conclusions drawn help in understanding the interactions between the various actions in microfinance. Exploiting the full range of the possibilities of those different structures may be valuable for a fully successful development in India.

Suggested Citation

  • Marek Hudon, 2008. "Norms and values of the various microfinance institutions," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 35(1/2), pages 35-48, January.
    • Handle: RePEc:eme:ijsepp:v:35:y:2008:i:1/2:p:35-48
    DOI: 10.1108/03068290810843828
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    Citations

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    Cited by:

    1. Tadele, Haileslasie & Roberts, Helen & Whiting, Rosalind H., 2018. "Microfinance institutions' website accessibility," Pacific-Basin Finance Journal, Elsevier, vol. 50(C), pages 279-293.
    2. Bénédique Paul, 2014. "Why Should Microfinance Organizations Invest In Clients Business Training? Empirical Results from the Haitian Microfinance Industry," International Journal of Management Sciences, Research Academy of Social Sciences, vol. 2(4), pages 191-202.
    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 Fi," MPRA Paper 39016, University Library of Munich, Germany.
    4. Marc Labie & Anaïs A Périlleux, 2008. "Corporate governance in microfinance: credit unions," Working Papers CEB 08-003.RS, ULB -- Universite Libre de Bruxelles.
    5. 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.

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