Analysis of the Russian Microfinance Market's Main Problems

Victor S. Utkin () and Anna Yurieva
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Victor S. Utkin: Financial Research Institute, Moscow 127006, Russia

Finansovyj žhurnal — Financial Journal, 2018, issue 5, 97-107

Abstract: The article analyzes the legal specifics of the regulation of the microfinance market in foreign countries. The authors investigate the validity of the microfinances perception at the international level as a tool of social policy, through which it is possible to combat social and financial inequalities, and stimulate the public self-employment. The article cites successful examples of anti-bullying state regulation of the microfinance sector, which, combined with the state grants, makes it possible to finance socially unprotected population at a rate much lower than a banking rate. Based on the study of foreign experience the authors conduct the analysis of the Russian microfinance market, identify the pressing problems of the Russian microfinance sector, which require urgent solutions, in particular, on implementation of regulatory arbitration by microfinance organizations and the debt load of the Russian people from microfinance organizations, and provide suggestions for their elimination.

Keywords: microfinance market; microfinance organizations; government regulation of microfinance sector; regulatory arbitrage; household debt load; microcredit; microloan (search for similar items in EconPapers)
JEL-codes: G21 G28 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:180508:p:97-107

DOI: 10.31107/2075-1990-2018-5-97-107

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