What Determines Premium of MFIs in the Mena Region? A Panel Data Analysis (2004- 2014)
Résumé
This is the first paper to address the premium-social performance relationship upon an unbalanced panel of 66 microfinance institutions (MFIs) in the MENA region over 2004-2014. According to a fixed effects model using instrumental variables, financial sustainability is the primary determinant of premium (i.e. the financial margin), whereupon social performance has a positive albeit insignificant impact. Mature MFIs maintain financial sustainability and serve rather non-poor clients, although they tame interest rates.
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Adair_Berguiga_2017_article_Research Journal of Economics 1(1)_Premium of MFIs in the MENA region.pdf (414.04 Ko)
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