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Analysis of the Russian Microfinance Market's Main Problems

Author

Listed:
  • Victor S. Utkin

    (Financial Research Institute, Moscow 127006, Russia)

  • Anna A. Yurieva

    (Financial Research Institute, Moscow 127006, Russia)

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.

Suggested Citation

  • Victor S. Utkin & Anna A. Yurieva, 2018. "Analysis of the Russian Microfinance Market's Main Problems," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 5, pages 97-107, October.
    • Handle: RePEc:fru:finjrn:180508:p:97-107
    DOI: 10.31107/2075-1990-2018-5-97-107
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    References listed on IDEAS

    as
    1. Mr. Shekhar Aiyar & Mr. Ali J Al-Eyd & Ms. Bergljot B Barkbu & Andreas Jobst, 2015. "Revitalizing Securitization for Small and Medium-Sized Enterprises in Europe," IMF Staff Discussion Notes 2015/007, International Monetary Fund.
    2. Shekhar Aiyar & Ali J Al-Eyd & Bergljot B Barkbu & Andreas Jobst, 2015. "Revitalizing Securitization for Small and Medium-Sized Enterprises in Europe," IMF Staff Discussion Notes 15/7, International Monetary Fund.
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    Cited by:

    1. Alexey A. Upravitelev, 2022. "Bounded Rationality of Decision-Making by Online Microfinance Organizations´ Consumers," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 4, pages 134-147, August.

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    More about this item

    Keywords

    microfinance market; microfinance organizations; government regulation of microfinance sector; regulatory arbitrage; household debt load; microcredit; microloan;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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