From Revolution to Evolution: Charting the Main Features of Microfinance 2.0

Ronald Mendoza and Brandon Vick

Fordham Economics Discussion Paper Series from Fordham University, Department of Economics

Abstract: The past thirty years or so has seen microfinance take off from small group-based lending experiments to several thousand financial service providers (FSPs) serving a growing portion of the developing world today. Nevertheless, the challenge to improve broadbased access to financial services—going beyond credit and into other products such as savings, insurance and money transfer services—remains. Where is the microfinance industry headed? This essay reviews the available evidence, and argues that both the public and private spheres are crucial to the continued dynamism and expansion of the microfinance industry—the private sector as a continued source of product and process innovations; and the public sector taking on a strong market enabling and development role.

Keywords: Microfinance; market failures; information; innovation (search for similar items in EconPapers)
JEL-codes: D52 O31 Q13 (search for similar items in EconPapers)
Date: 2008
New Economics Papers: this item is included in nep-dev and nep-mfd
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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