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Staff Publications

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    'Staff publications' is the digital repository of Wageningen University & Research

    'Staff publications' contains references to publications authored by Wageningen University staff from 1976 onward.

    Publications authored by the staff of the Research Institutes are available from 1995 onwards.

    Full text documents are added when available. The database is updated daily and currently holds about 240,000 items, of which 72,000 in open access.

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Record number 562401
Title Financial development and the efficiency of microfinance institutions
Author(s) Hermes, Niels; Lensink, Robert; Meesters, Aljar
Source In: Research Handbook on Small Business Social Responsibility / Spence, L.J., Frynas, J.G., Muthuri, J.N., Navare, J., Edward Elgar Publishing Ltd. - ISBN 9781784711818 - p. 177 - 205.
Department(s) Development Economics
Publication type Peer reviewed book chapter
Publication year 2018
Abstract Microfinance is an instrument for achieving responsible finance as its aim is to contribute to the financial inclusion of poor households and small businesses. We investigate whether the country-level financial environment in which microfinance institutions (MFIs) work affects their operations. In particular, we argue that the efficiency of MFIs and their capacity to contribute to increasing financial inclusion of poor households and small businesses is determined by the extent to which financial markets of countries are developed. On the one hand, well-developed financial markets provide an environment in which MFIs are able to flourish and increase their efficiency, which increases their capacity to contribute to financial inclusion. On the other hand, well-developed financial markets may also substitute for MFIs and/or may lead to MFI clients taking up multiple loans, reducing efficiency. We find strong evidence that MFI efficiency is positively associated with the level of financial market development.
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