Differences in the interest rates of microfinance institutions in some emerging markets economies: An HLM approach/Diferencias en las tasas de interés entre instituciones financieras de algunas economías emergentes: un enfoque HLM

Adriana Ramírez Rocha, L. Arturo Bernal Ponce and Mauricio Cervantes Zepeda
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Adriana Ramírez Rocha: Tecnológico de Monterrey
L. Arturo Bernal Ponce: Tecnológico de Monterrey
Mauricio Cervantes Zepeda: Tecnológico de Monterrey

Estudios Económicos, 2019, vol. 34, issue 2, 275-307

Abstract: In this study, we analyzed the differences in the interest rates of microfinance institutions (MFIs) of some countries in Latin America, Africa, Eastern Europe and Asia. We found that the operating expenses are essential drivers of these interest rates. We also found that operating expenses, average loan per borrower, real growth GDP, and government effectiveness, are key factors that explain differences in interest rates. We use apply Hierarchical Linear Modeling (HLM) to analyze these differences.

Keywords: microfinance institutions; IMFs interest rates; hierarchical linear modeling; government effectiveness; emerging markets economies (search for similar items in EconPapers)
JEL-codes: C55 E43 G21 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:emx:esteco:v:34:y:2019:i:2:p:275-307

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