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Microequity: some thoughts for an emerging research agenda

Author

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  • Muhammad Meki
  • Simon Quinn

Abstract

This paper summarizes recent research in performance-based microfinance, and outlines future directions for research. We use the term ‘microequity’ to refer to any small-enterprise financing contract in which the repayment owed in each instalment depends positively upon the variable performance of the enterprise. We summarize research from financial economics and development economics to highlight the importance of implicit insurance in microequity contracts, and present a theoretical framework to illustrate the potential of microequity in supporting capital investment and incentivizing asset use. We conclude by highlighting directions for future research in this emerging field of microfinance.

Suggested Citation

  • Muhammad Meki & Simon Quinn, 2024. "Microequity: some thoughts for an emerging research agenda," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 40(1), pages 176-188.
    • Handle: RePEc:oup:oxford:v:40:y:2024:i:1:p:176-188.
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    File URL: http://hdl.handle.net/10.1093/oxrep/grae001
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    Cited by:

    1. Giorgia Barboni, 2024. "Innovations in the repayment structure of microcredit contracts," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 40(1), pages 129-138.
    2. Muhammad Meki & Simon Quinn, 2024. "Microfinance: an overview," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 40(1), pages 1-7.

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