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Microfinance and common goods: A study of Brazilian community development banks

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  • Marek Hudon
  • Camille Meyer

Abstract

Inclusive financial sectors are essential in terms of poverty alleviation. While microcredit can be governed as a private good, self-managed civil society organizations propose an alternative way of managing financial services. Brazil's Community Development Banks (CDBs) are a growing and dynamic manifestations of these nonprofit organizations. Based on field research in Brazil, this article uses the Elinor Ostrom's design principles of successful self-governing common-pool resource institutions to analyze CDBs' microcredit system. Our results suggest that the characteristics of private goods could be reconsidered when they are governed by community self-managed enterprises. They become hybrid goods by mixing the characteristics of private and commons goods. Thus, specific institutional arrangements and the creation of public spaces make it possible to strengthen the community properties of nonprofit microcredit

Suggested Citation

  • Marek Hudon & Camille Meyer, 2013. "Microfinance and common goods: A study of Brazilian community development banks," Working Papers CEB 13-049, ULB -- Universite Libre de Bruxelles.
  • Handle: RePEc:sol:wpaper:2013/152859
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    References listed on IDEAS

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    1. Hudon, Marek & Traca, Daniel, 2011. "On the Efficiency Effects of Subsidies in Microfinance: An Empirical Inquiry," World Development, Elsevier, vol. 39(6), pages 966-973, June.
    2. Hyman P. Minsky & Dimitri B. Papadimitriou & Ronnie J. Phillips & L. Randall Wray, "undated". "Community Development Banking, A Proposal to Establish a Nationwide System of Community Development Banks," Economics Public Policy Brief Archive 3, Levy Economics Institute.
    3. Gutiérrez-Nieto, Begoña & Serrano-Cinca, Carlos & Mar Molinero, Cecilio, 2007. "Microfinance institutions and efficiency," Omega, Elsevier, vol. 35(2), pages 131-142, April.
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    Cited by:

    1. Bernard PARANQUE, 2018. "Finance as a “commons” understood as ideal-type for emancipation," CIRIEC Studies Series, in: Philippe BANCE & CIRIEC (ed.), Providing public goods and commons. Towards coproduction and new forms of governance for a revival of public action, volume 1, chapter 7, pages 135-160, CIRIEC - Université de Liège.
    2. MAREK HUDON & BENJAMIN HUYBRECHTS & Anaïs PÉRILLEUX & Marthe NYSSENS, 2017. "Understanding Cooperative Finance As A New Common," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 88(2), pages 155-177, June.
    3. Lagoarde-Segot, Thomas & Paranque, Bernard, 2018. "Finance and sustainability: From ideology to utopia," International Review of Financial Analysis, Elsevier, vol. 55(C), pages 80-92.

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