Dynamic analysis of the interest rate determinant in microfinance institutions

Djibril Faye () and Zaka Ratsimalahelo ()
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Djibril Faye: CRESE EA3190, Univ. Bourgogne Franche-Comté, F-25000 Besançon, France
Zaka Ratsimalahelo: CRESE EA3190, Univ. Bourgogne Franche-Comté, F-25000 Besançon, France

No 2022-09, Working Papers from CRESE

Abstract: In this paper, we examine the interest rate of microfinance institutions in a dynamic framework in order to consider the anticipation phenomenon. The fluctuations that affect the development of MFIs are often unpredictable and may be fast. The results show an interest rate increase over time, which is more significant within cooperatives and Non-Governmental Organizations (NGOs) compared to other MFIs categories. Our results clearly show that these MFI types suffer from more exogenous shocks.

Keywords: Interest rate; Microfinance; GMM-System; Dynamic panel; Fisher test statistic (search for similar items in EconPapers)
JEL-codes: C1 E43 G2 G21 N20 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2022-12
New Economics Papers: this item is included in nep-ban and nep-mfd
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Persistent link: https://EconPapers.repec.org/RePEc:crb:wpaper:2022-09

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