This review examines portions of the vast literature on rural financial markets and household
behavior in the face of risk and uncertainty and limited commitment. In addition to examining …

This paper uses stochastic frontier analysis to examine whether there is a trade-off between
outreach to the poor and efficiency of microfinance institutions (MFIs). We find convincing …

Microlending provides a valuable alternative to traditional financing for entrepreneurs in
impoverished countries. Drawing from theory on political rhetoric and the concept of warm …

This paper presents the first evidence on the impact of governance on outreach and
sustainability of microfinance institutions (MFIs) in Central and Eastern Europe and the …

Competition between microfinance institutions (MFIs) in developing countries has increased
dramatically in the last decade. We model the behavior of non-profit lenders, and show that …

We look at an economic environment where borrowers have some information about the
nature of each other's projects that lenders do not. We show that joint‐liability lending …

This article examines the relationship between competition and the performance of
Microfinance Institutions (MFIs). We measure competition by constructing a Lerner index …

Microfinance institutions (MFIs) play a key role in many developing countries. Utilizing data
from Eastern Europe and Central Asia, MFIs are found to generally operate with lower costs …

This article uses data from Uganda's largest incumbent microfinance institution to analyse
the impact of entry by competing lenders on client behaviour. We observe that rising …

This review puts a corporate finance lens on microfinance. Microfinance aims to democratize
global financial markets through new contracts, organizations, and technology. We explain …