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Microrofinance – a possible anticrisis measure?

Author

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  • Laura GIURCA VASILESCU

    (University of Craiova)

Abstract

Microfinance activity is recognized – at the level of European institutions and member states - as an area with a significant impact on entrepreneurship, economic growth and social inclusion. But the market of this important financing source for disadvantaged entities still have imperfections, mainly due to costs involved, the lack of collateral and lack of national regulations. Also the effects of international financial crisis were felt in the microcredit field. In this context, the European Commission launched new programs (JEREMIE, JASMINE program; the SME Guarantee facility, micro instrument Progress) that can provide opportunities to improve the micro-credit activity in Europe.

Suggested Citation

  • Laura GIURCA VASILESCU, 2009. "Microrofinance – a possible anticrisis measure?," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(10), pages 127-131, December.
    • Handle: RePEc:aio:fpvfcf:v:1:y:2009:i:10:p:127-131
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    More about this item

    Keywords

    microfinance; microcredit activity; small and medium enterprises;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • G01 - Financial Economics - - General - - - Financial Crises
    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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