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Productivity change of microfinance institutions in Kenya: A bootstrap Malmquist approach

Mahinda Wijesiri and Michele Meoli

Journal of Retailing and Consumer Services, 2015, vol. 25, issue C, 115-121

Abstract: This paper uses a DEA (Data Envelopment Analysis) based Malmquist approach to investigate the changes in productivity of 20 Kenyan microfinance institutions (MFIs) over the period 2009–2012. A bootstrap procedure is employed to determine whether the changes in Malmquist index and its components are statistically significant. Results show that MFIs have experienced about 7% annual productivity progress on average, which is mainly attributable to technological advances. A second-stage bootstrapped regression analysis is employed to examine the impact of several environmental variables on productivity change measures. Results show that matured MFIs tend to have a lower productivity compared to their younger counterparts. Results also reveal that higher return-on-assets associates with the productivity gain and technological improvements.

Keywords: Microfinance; Data envelopment analysis; Malmquist; Efficiency; Productivity; Bootstrap (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1016/j.jretconser.2015.04.004

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