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La microfinance : quelles leçons tirées des expériences des pays en développement ?


  • Avouyi-Dovi, Sanvi


  • Arrassen, Wassini


After a summary of the main achievements in microfinance, the thesis provides an overview of microfinance institutions (MFIs) in developing countries between 2000 and 2009. A thorough study of microfinance in sub-Saharan Africa is also proposed. It serves as a prelude to the econometric analysis of the determinants of financial and social performances of MFIs and to the review of the trade-offs between the two objectives in this region. The model is also estimated with data from Latin America and the Caribbean to test, amongst others, its spatial robustness. The results show that despite their strong growth, MFIs remain fragile because of arrears and low profitability. In addition, there is no universal model of microfinance without regional specificities. The commercialization of the sector is called into question because although it does not necessarily lead to social mission drift, it does notimprove financial performance. Finally, the richness of the sector comes from itssegmentation while its weakness is due to its lack of organization, with competition leading to increasing risk rather than product diversification.

Suggested Citation

  • Arrassen, Wassini, 2013. "La microfinance : quelles leçons tirées des expériences des pays en développement ?," Economics Thesis from University Paris Dauphine, Paris Dauphine University, number 123456789/12692 edited by Avouyi-Dovi, Sanvi, April.
  • Handle: RePEc:dau:thesis:123456789/12692
    Note: dissertation

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    References listed on IDEAS

    1. Servin, Roselia & Lensink, Robert & van den Berg, Marrit, 2012. "Ownership and technical efficiency of microfinance institutions: Empirical evidence from Latin America," Journal of Banking & Finance, Elsevier, vol. 36(7), pages 2136-2144.
    2. Beatriz Armendáriz & Jonathan Morduch, 2010. "The Economics of Microfinance, Second Edition," MIT Press Books, The MIT Press, edition 2, volume 1, number 0262014106, January.
    3. Mark Schreiner, 2001. "Seven Aspects of Loan Size," Development and Comp Systems 0109001, EconWPA.
    4. Mersland, Roy, 2009. "The Cost of Ownership in Microfinance Organizations," World Development, Elsevier, vol. 37(2), pages 469-478, February.
    5. Ahlin, Christian & Lin, Jocelyn & Maio, Michael, 2011. "Where does microfinance flourish? Microfinance institution performance in macroeconomic context," Journal of Development Economics, Elsevier, vol. 95(2), pages 105-120, July.
    6. Robert Cull & Asli Demirguç-Kunt & Jonathan Morduch, 2007. "Financial performance and outreach: a global analysis of leading microbanks," Economic Journal, Royal Economic Society, vol. 117(517), pages 107-133, February.
    7. Daniel Hardy & Paul Holden & Vassili Prokopenko, 2003. "Microfinance institutions and public policy," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 6(3), pages 147-158.
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    10. Beatriz Armendáriz & Ariane Szafarz, 2011. "On Mission Drift in Microfinance Institutions," World Scientific Book Chapters,in: The Handbook Of Microfinance, chapter 16, pages 341-366 World Scientific Publishing Co. Pte. Ltd..
    11. Crespi, Rafel & Garcia-Cestona, Miguel A. & Salas, Vicente, 2004. "Governance mechanisms in Spanish banks. Does ownership matter?," Journal of Banking & Finance, Elsevier, vol. 28(10), pages 2311-2330, October.
    12. Hubert Tchakoute Tchuigoua, 2011. "Étude Comparative Des Performances Des Institutions De Microfinance D’Afrique Sub‐Saharienne Selon Leur Statut Légal," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 82(1), pages 63-76, March.
    13. Roy Mersland & Reidar Øystein Strøm, 2008. "Performance and trade-offs in Microfinance Organisations-does ownership matter?," Journal of International Development, John Wiley & Sons, Ltd., vol. 20(5), pages 598-612.
    14. Copestake, James, 2007. "Mainstreaming Microfinance: Social Performance Management or Mission Drift?," World Development, Elsevier, vol. 35(10), pages 1721-1738, October.
    15. Desrochers, Martin & Fischer, Klaus P., 2002. "Corporate Governance and Depository Institutions Failure: the Case of an Emerging Market Economy," Cahiers de recherche 0201, CIRPEE.
    16. Esubalew Assefa & Niels Hermes & Aljar Meesters, 2013. "Competition and the performance of microfinance institutions," Applied Financial Economics, Taylor & Francis Journals, vol. 23(9), pages 767-782, May.
    17. Ulrich Kohler & Frauke Kreuter, 2009. "Data Analysis using Stata, 2nd Edition," Stata Press books, StataCorp LP, number daus2, December.
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