Crisis in microfinance institutions: identifying problems
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AuthorSainz Fenández, Isabel; Torre Olmo, Begoña; López Gutiérrez, Carlos; Sanfilippo Azofra, Sergio
© Wiley. "This is the peer reviewed version of the following article: Sainz-Fernandez, I., Torre-Olmo, B., López-Gutiérrez, C., and Sanfilippo-Azofra, S. (2015) Crisis in Microfinance Institutions: Identifying Problems. J. Int. Dev., 27: 1058–1073. doi: 10.1002/jid.3129., which has been published in final form at10.1002/jid.3129. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving."
Journal of International Development, Volume 27, Issue 7 October 2015 Pages 1058–1073
John Wiley and Sons
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ABSTRACT: This article empirically analyses the reasons for crises in microfinance institutions (MFIs), using a sample of 832 MFIs from 74 countries for the period 2003-2011. The methodology used is logit analysis with panel data. The main results show that both internal and external factors influence the probability of a crisis. We find different factors that reduce the likelihood of a crisis (company’s performance, country’s economic growth, political stability and existence of a private credit bureau). On the other hand, excessive liquidity, a higher proportion of deposits over loans and more loans per employee all increase the probability of a crisis.
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