The Road to Financial Sustainability. Comparative Analysis of Russia and the Caucasus Region
This paper examines delinquency, profitability, and outreach determinants of microfinance institutions’ (MFIs) performance in Russia and the Caucasus. The estimation is done using the Seemingly Unrelated Regression (SUR) technique. The estimation results suggest that Russian and Caucasian MFIs are profit-driven but are expected to improve outreach in the long-run.
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World Scientific Publishing Co. Pte. Ltd..
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- Armendáriz, Beatriz & Szafarz, Ariane, 2011. "On mission drift in microfinance institutions," MPRA Paper 31041, University Library of Munich, Germany, revised 2010.
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- Cull, Robert & Demirguc-Kunt, Asli & Morduch, Jonathan, 2006. "Financial performance and outreach : a global analysis of leading microbanks," Policy Research Working Paper Series 3827, The World Bank.
- Pretes, Michael, 2002. "Microequity and Microfinance," World Development, Elsevier, vol. 30(8), pages 1341-1353, August.
- Ayi Gavriel Ayayi & Maty Sene, 2010. "What drives microfinance institution's financial sustainability," Journal of Developing Areas, Tennessee State University, College of Business, vol. 44(1), pages 303-324, September.
- Jessica Schicks, 2007. "Developmental Impact and Coexistence of Sustainable and Charitable Microfinance Institutions: Analysing BancoSol and Grameen Bank," The European Journal of Development Research, Taylor and Francis Journals, vol. 19(4), pages 551-568. Full references (including those not matched with items on IDEAS)
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