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From Revolution to Evolution: Charting the Main Features of Microfinance 2.0

Author

Listed:
  • Ronald Mendoza

    (United Nations Development Programme, Office of Development Studies)

  • Brandon Vick

    (Fordham University, Department of Economics)

Abstract

The past thirty years or so has seen microfinance take off from small group-based lending experiments to several thousand financial service providers (FSPs) serving a growing portion of the developing world today. Nevertheless, the challenge to improve broadbased access to financial services—going beyond credit and into other products such as savings, insurance and money transfer services—remains. Where is the microfinance industry headed? This essay reviews the available evidence, and argues that both the public and private spheres are crucial to the continued dynamism and expansion of the microfinance industry—the private sector as a continued source of product and process innovations; and the public sector taking on a strong market enabling and development role.

Suggested Citation

  • Ronald Mendoza & Brandon Vick, 2008. "From Revolution to Evolution: Charting the Main Features of Microfinance 2.0," Fordham Economics Discussion Paper Series dp2008-03, Fordham University, Department of Economics.
  • Handle: RePEc:frd:wpaper:dp2008-03
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    File URL: http://ftp.web.fordham.edu/ECONOMICS_RESEARCH/PAPERS/dp2008_03_mendoza_vick.pdf
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    Cited by:

    1. Janda, Karel & Zetek, Pavel, 2014. "The Impact of Public Spending on the Performance of Microfinance Institutions," MPRA Paper 55690, University Library of Munich, Germany.

    More about this item

    Keywords

    Microfinance; market failures; information; innovation;

    JEL classification:

    • D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness

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