The empirics of microfinance: What do we know?

Economic Journal

Volumn 117, Issue 517, 2007, Pages

  Hermes, Niels ^a   Lensink, Robert ^a,b  

^a UNIVERSITY OF GRONINGEN   (Netherlands)

^b UNIVERSITY OF NOTTINGHAM   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 34249335369     PISSN: 00130133     EISSN: 14680297     Source Type: Journal    
DOI: 10.1111/j.1468-0297.2007.02013.x     Document Type: Editorial

References (37)

1. Ahlin, C. and Townsend, R. (2007). 'Using repayment data to test across models of joint liability lending', Economic Journal, vol. 117, pp. F11-F51.
2. Armendáriz De Aghion, B. (1999). 'On the design of a credit agreement with peer monitoring', Journal of Development Economics, vol. 60 (1), pp. 79-104.
3. Banerjee, A., Besley, T. and Guinnane, T. (1994). 'Thy neighbor's keeper: The design of a credit cooperative with theory and a test', Quarterly Journal of Economics, vol. 109 (2), pp. 491-515.
4. Besley, T. and Coate, S. (1995). 'Group lending, repayment incentives and social collateral', Journal of Development Economics, vol. 46 (1), pp. 1-18.
5. Cassar, A., Crowley, L. and Wydick, B. (2007). 'The effect of social capital on group loan repayment: Evidence from field experiments', Economic Journal, vol. 117, pp. F85-F106.
6. Chowdury, P.R. (2005). 'Group lending: Sequential financing, lender monitoring and joint liability', Journal of Development Economics, vol. 77 (2), pp. 415-39.
7. Conning, J. (1999). 'Outreach, sustainability and leverage in monitored and peer-monitored lending', Journal of Development Economics, vol. 60 (1), pp. 51-77.
8. Copestake, J., Dawson, P., Fanning, J.P., McKay, A. and Wright-Revolledo, K. (2005). 'Monitoring the diversity of the poverty outreach and impact of microfinance: A comparison of methods using data from Peru', Development Policy Review, vol. 23 (6), pp. 703-23.
9. Cull, R., Demirgüç-Kunt, A. and Morduch, J. (2007). 'Financial performance and outreach: A global analysis of leading microbanks', Economic Journal, vol. 117, pp. F107-F133.
10. Daley-Harris, S. (2006). 'State of the microcredit summit campaign report 2006', Washington, DC: Microcredit summit campaign.
11. EDA Rural Systems (2004). The Maturing of Indian Microfinance: A Longitudinal Study, New Delhi: India, EDA Rural Systems.
12. Gangopadhyay, S., Ghatak, M. and Lensink, R. (2005). 'Joint liability lending and the peer selection effect', Economic Journal, vol. 115 (506), pp. 1005-15.
13. Ghatak, M. (1999). 'Group lending, local information and peer selection', Journal of Development Economics, vol. 60 (1), pp. 27-50.
14. Ghatak, M. (2000). 'Screening by the company you keep: Joint liability lending and the peer selection effect', Economic Journal, vol. 110 (465), pp. 601-31.
15. Goldberg, N. (2005). 'Measuring the impact of microfinance: Taking stock of what we know', Grameen Foundation USA Weblink: http://www.grameenfoundation.org.
16. Hermes, N., Lensink, R. and Mehrteab, H.T. (2005). 'Peer monitoring, social ties and moral hazard in group lending programmes: Evidence from Eritrea', World Development, vol. 33 (1), pp. 149-69.
17. Hermes, N., Lensink, R. and Mehrteab, H.T. (2006). 'Does the group leader matter: The impact of monitoring activities and social ties of group leaders on the repayment performance of group-based lending in Eritrea', African Development Review, vol. 18 (1), pp. 72-97.
18. Hulme, D. and Mosley, P. (1996). Finance Against Poverty, London: Routledge.
19. Karlan, D. (2007). 'Social connections and group banking', Economic Journal, vol. 117, pp. F52-F84.
20. Khandker, S.R. (2005). 'Microfinance and poverty: Evidence using panel data from Bangladesh', The World Bank Economic Review, vol. 19 (2), pp. 263-86.
21. Lafourcade, A.C., Isern, J., Mwangi, P. and Brown, M. (2005). 'Overview of the outreach and financial performance of microfinance institutions in Africa', Microfinance Information Exchange (MIX) April 2005. weblink: http://www.mixmarket.org.
22. Lapenu, C. and Zeller, M. (2001). 'Distribution, growth and performance of microfinance institutions in Africa, Asia and Latin America', FCND discussion paper 114, Washington, DC: International Food Policy Research Institute (IFPRI).
23. Morduch, J. (1999a). 'The role of subsidies in microfinance: Evidence from the Grameen bank', Journal of Development Economics, vol. 60 (1), pp. 229-48.
24. Morduch, J. (1999 b). 'The microfinance promise', Journal of Economic Literature, vol. 37 (4), pp. 1569-614.
25. Norwegian Nobel Committee (2006). 'The Nobel Peace Prize 2006', Press release, Oslo, October. weblink: http://nobelprize.org/nobel_prizes/ peace/laureates/2006/press.html.
26. Paxton, J., Graham, D. and Thraen, C. (2000), 'Modeling group loan repayment behaviour: New insights from Burkina Faso', Economic Development & Cultural Change, vol. 48 (3), pp. 639-55.
27. Robinson, M. (2001). The Microfinance Revolution: Sustainable Banking for the Poor, Washington, DC: The World Bank.
28. Sharma, M. and Zeller, M. (1997). 'Repayment performance in group-based credit programs in Bangladesh: An empirical analysis', World Development, vol. 25 (10), pp. 1731-42.
29. Stiglitz, J. (1990). 'Peer monitoring and credit markets', World Bank Economic Review, vol. 4 (3), pp. 351-66.
30. Townsend, R.M. and Yaron, J. (2001). 'The credit risk-contingency system of an Asian development bank', Federal Reserve Bank of Chicago Economic Perspectives, Third Quarter, pp. 31-48.
31. Varian, H. (1990). 'Monitoring agents with other agents', Journal of Institutional and Theoretical Economics, vol. 146 (2), pp. 153-74.
32. Weiss, J. and Montgomery, J. (2004). 'Great expectations: Microfinance and poverty reduction in Asia and Latin America', ADB Institute discussion paper No. 14, The Asian Development Bank Institute.
33. Wenner, M. (1995). 'Group credit: A means to improve information transfer and loan repayment performance', Journal of Development Studies, vol. 32 (2), pp. 263-81.
34. Wydick, B. (1999). 'Can social cohesion be harnessed to repair market failures? Evidence from group-based lending in Guatemala', Economic Journal, vol. 109 (457), pp. 463-75.
35. Wydick, B. (2001). 'Group lending under dynamic incentives as a borrower discipline device', Review of Development Economics, vol. 5 (3), pp. 406-20.
36. Yaron, J. (1992). 'Successful rural finance institutions', World Bank discussion paper No. 150, Washington, DC: The World Bank.
37. Zeller, M. (1998). 'Determinants of repayment performance in credit groups: The role of program design, intra-group risk pooling and social cohesion', Economic Development and Cultural Change, vol. 46 (1), pp. 599-620.