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El éxito de la autorregulación de las instituciones microfinancieras en Bolivia: una prueba empírica
[The success of micro financial institutions' auto-regulation: empiric evidence of the Bolivian case]

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  • Nogales Carvajal, Cristian Ricardo

Abstract

Until march 2008, two types of institutions coexisted in the bolivian micro financial market : the Microfinancial Institutions for Development (IFD, in spanish), which activities were mainly rural oriented and were not governed by the same banking regulations as all other financial institutions in the country, as oppossed to the Regulated Microfinancial Institutions (IMF, in spanish), which activities were mainly urban. Today, the Supervision Authority of Financial Institutions (SBEF, in spanish) has decided to recognize the IFD as financial institutions under the same regulation body as every other financial institution in the country. This decision implies that the IFD should have a financial performance comparable to the IMF. This study focuses on providing objective proof for the latter statement. It also proven that that the IFD have a significantly better social performance than other micro financial institutions, which allows to conclude that their inclusion in the banking regulation and the formal financial system, contributes significantly to financial social depth. In order to arrive to these conslusions, financial and social performance indexes were constructed using Factor Analysis techniques. The differences in the performance of each type of financial institution in the country were assessed through panel data models.

Suggested Citation

  • Nogales Carvajal, Cristian Ricardo, 2008. "El éxito de la autorregulación de las instituciones microfinancieras en Bolivia: una prueba empírica [The success of micro financial institutions' auto-regulation: empiric evidence of the Bolivian ," MPRA Paper 53018, University Library of Munich, Germany, revised Dec 2008.
    • Handle: RePEc:pra:mprapa:53018
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    References listed on IDEAS

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    1. Simtowe, Franklin & Zeller, Manfred & Phiri, Alexander, 2006. "Determinants of Moral hazard in Microfinance: Empirical Evidence from Joint Liability Lending Schemes in Malawi," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25287, International Association of Agricultural Economists.
    2. Mark Schreiner, 2002. "Aspects of outreach: a framework for discussion of the social benefits of microfinance," Journal of International Development, John Wiley & Sons, Ltd., vol. 14(5), pages 591-603.
    3. Valentina Hartarska, 2004. "Governance and Performance of Microfinance Institutions in Central And Eastern Europe and the Newly Independent States," William Davidson Institute Working Papers Series 2004-677, William Davidson Institute at the University of Michigan.
    4. Simtowe, Franklin & Zeller, Manfred, 2006. "Determinants of Moral Hazard in Microfinance: Empirical Evidence from Joint Liability Lending Programs in Malawi," MPRA Paper 461, University Library of Munich, Germany.
    5. Hartarska, Valentina M., 2004. "Governance and Performance of Microfinance Institutions in Central and Eastern Europe and the Newly Independent States," 2004 Annual Meeting, February 14-18, 2004, Tulsa, Oklahoma 34722, Southern Agricultural Economics Association.
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    1. Miranda-Reyna, Montserrat & Carrillo-Urbina, Gilberto Jaime, 2017. "Impacto de los indicadores financieros en el desempeño de las instituciones microfinancieras en México: un estudio de panel desbalanceado," eseconomía, Escuela Superior de Economía, Instituto Politécnico Nacional, vol. 12(46), pages 41-60, Primer se.

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    More about this item

    Keywords

    Microfinanzas; Desempeño Financiero; Desempeño Social; Análisis Factorial; Efectos Individuales Aleatorios;
    All these keywords.

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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