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Les fonds d’investissement en microfinance : nouvelle niche de la finance éthique ?

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  • Yves Jégourel

Abstract

[fre] D’abord connue pour sa vocation à lutter contre la pauvreté dans les pays en développement, la microfinance représente aujourd’hui un enjeu financier non négligeable. Se situant en amont des institutions de microfinance (IMF), les fonds d’investissement en microfinance (FMIF) ont vocation à capter l’épargne internationale afin que celle-ci puisse être investie dans le secteur de la microfinance. Si certains poursuivent uniquement une logique de développement, d’autres cherchent à concilier implication sociale et performance financière. Portés par l’essor de la finance éthique, de tels fonds devraient voir leur nombre et leurs encours progresser : le secteur de la microfinance offre, en effet, aujourd’hui des caractéristiques financières particulièrement intéressantes tant au regard de la performance financière des IMF que de leur potentiel de diversification. . Classification JEL : G10, G24, G29, O16 [eng] Microfinance investment funds : ethical finance’s new niche ? . Known as a powerful poverty alleviation tool, microfinance also represents a major financial stake. Microfinance investment funds (MFIF) aim for international savings so that they may be invested in the microfinance sector. Although some are more concerned with development, others seek to reconcile social implication with financial performance. Given the surge for ethical finance, these funds should see an increase in their number and in their outstanding debts : indeed the microfinance sector now offers financial characteristics of great interest in terms of both MFI’s financial performance and their diversification potential. . JEL Classification : G10, G24, G29, O16

Suggested Citation

  • Yves Jégourel, 2008. "Les fonds d’investissement en microfinance : nouvelle niche de la finance éthique ?," Revue d'Économie Financière, Programme National Persée, vol. 93(3), pages 89-102.
  • Handle: RePEc:prs:recofi:ecofi_0987-3368_2008_num_93_3_5268
    Note: DOI:10.3406/ecofi.2008.5268
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    References listed on IDEAS

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    1. Sajjad Zohir & Imran Matin, 2004. "Wider impacts of microfinance institutions: issues and concepts," Journal of International Development, John Wiley & Sons, Ltd., vol. 16(3), pages 301-330.
    2. Gonzalez, Adrian, 2007. "Resilience of Microfinance Institutions to National Macroeconomic Events: An Econometric Analysis of MFI asset quality," MPRA Paper 4317, University Library of Munich, Germany.
    3. Klaus Abbink & Bernd Irlenbusch & Elke Renner, 2006. "Interest Rates In Group Lending: A Behavioural Investigation," Pacific Economic Review, Wiley Blackwell, vol. 11(2), pages 185-199, June.
    4. Copestake, James, 2007. "Mainstreaming Microfinance: Social Performance Management or Mission Drift?," World Development, Elsevier, vol. 35(10), pages 1721-1738, October.
    5. Mosley, Paul & Hulme, David, 1998. "Microenterprise finance: Is there a conflict between growth and poverty alleviation?," World Development, Elsevier, vol. 26(5), pages 783-790, May.
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    More about this item

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G29 - Financial Economics - - Financial Institutions and Services - - - Other
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G29 - Financial Economics - - Financial Institutions and Services - - - Other
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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