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Norms and Values of the Various Microfinance Institutions

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  • Marek Hudon

Abstract

This article studies the role of norms and values in the microfinance sector. Microfinance projects implemented in India use a wide range of different organizational structures. A classification of the sector is proposed, mapping the institutions along two axes: the profit motive (profit vs. not-for-profit) and the decision making style (centralized vs. un-centralized). Some Microfinance Institutions (MFIs) base their interactions on rigid norms or rules; while others are based on values. We argue that the private sector will tend to produce the operating rules of the microfinance system while the not-for-profit institutions that are using an inclusive decision-making process are more likely to influence the ethical norms in the sector. Nevertheless, this classification is not static as recent events in South-India shows that norms, such as the interest rates, can be politically and emotionally invested to the point that they are about to become values in the sector.

Suggested Citation

  • Marek Hudon, 2008. "Norms and Values of the Various Microfinance Institutions," Working Papers CEB 08-006.RS, ULB -- Universite Libre de Bruxelles.
  • Handle: RePEc:sol:wpaper:08-006
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    1. repec:rss:jnljms:v2i4p3 is not listed on IDEAS
    2. Paul, Bénédique & Garrabé, Michel, 2011. "Le capital institutionnel dans l'analyse du développement : Prolongement théorique et premier test empirique
      [Institutional Capital in Economic Development Analysis: Theoretical Continuation and Fi
      ," MPRA Paper 39016, University Library of Munich, Germany.
    3. Marc Labie & Anaïs Périlleux, 2008. "Corporate governance in microfinance: credit unions," Working Papers CEB 08-003.RS, ULB -- Universite Libre de Bruxelles.
    4. Marcella Corsi & Marina De Angelis & Pierluigi Montalbano, 2013. "The Gender Impact of Microfinance: The Case of Wekembe in Uganda," Working Papers CEB 13-045, ULB -- Universite Libre de Bruxelles.
    5. Koen Rossel-Cambier, 2011. "Is Combined Microfinance an Instrument to enhance Sustainable Pro-Poor Public Policy Outcomes?," Working Papers CEB 11-013, ULB -- Universite Libre de Bruxelles.

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    Keywords

    microfinance; norms; values; India; inclusive;

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