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Mission Drift of large MFIs?

Author

Listed:
  • Schmidt, Oliver
  • Ramana, N. V.

Abstract

Since the Mexican Microfinance Institution (MFI) Compartamos went public in 2007 – whereby promoting NGOs and private investors earned about USD 425 million – leading journals and magazines have repeatedly run rather sceptical articles about microfinance. They are mostly inspired by antagonists of MFIs growing into market driven enterprises. This antagonism has been blended with contemplation about assumed “subprime issues” of microfinance. However, the sector showed a steady performance, different from most other segments of the financial sector. The unholy blend of these two lines of thought risks to create an unwarranted image of microfinance.

Suggested Citation

  • Schmidt, Oliver & Ramana, N. V., 2010. "Mission Drift of large MFIs?," MPRA Paper 24410, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:24410
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    File URL: https://mpra.ub.uni-muenchen.de/24410/3/MPRA_paper_24410.pdf
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    More about this item

    Keywords

    Microfinance; Mission Drift; Subprime; Sustainability;

    JEL classification:

    • N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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