IDEAS home Printed from https://ideas.repec.org/a/prs/recofi/ecofi_0987-3368_2008_num_93_3_5268.html
   My bibliography  Save this article

Les fonds d’investissement en microfinance : nouvelle niche de la finance éthique ?

Author

Listed:
  • Yves Jégourel

Abstract

[fre] D’abord connue pour sa vocation à lutter contre la pauvreté dans les pays en développement, la microfinance représente aujourd’hui un enjeu financier non négligeable. Se situant en amont des institutions de microfinance (IMF), les fonds d’investissement en microfinance (FMIF) ont vocation à capter l’épargne internationale afin que celle-ci puisse être investie dans le secteur de la microfinance. Si certains poursuivent uniquement une logique de développement, d’autres cherchent à concilier implication sociale et performance financière. Portés par l’essor de la finance éthique, de tels fonds devraient voir leur nombre et leurs encours progresser : le secteur de la microfinance offre, en effet, aujourd’hui des caractéristiques financières particulièrement intéressantes tant au regard de la performance financière des IMF que de leur potentiel de diversification. . Classification JEL : G10, G24, G29, O16 [eng] Microfinance investment funds : ethical finance’s new niche ? . Known as a powerful poverty alleviation tool, microfinance also represents a major financial stake. Microfinance investment funds (MFIF) aim for international savings so that they may be invested in the microfinance sector. Although some are more concerned with development, others seek to reconcile social implication with financial performance. Given the surge for ethical finance, these funds should see an increase in their number and in their outstanding debts : indeed the microfinance sector now offers financial characteristics of great interest in terms of both MFI’s financial performance and their diversification potential. . JEL Classification : G10, G24, G29, O16

Suggested Citation

  • Yves Jégourel, 2008. "Les fonds d’investissement en microfinance : nouvelle niche de la finance éthique ?," Revue d'Économie Financière, Programme National Persée, vol. 93(3), pages 89-102.
    • Handle: RePEc:prs:recofi:ecofi_0987-3368_2008_num_93_3_5268
    DOI: 10.3406/ecofi.2008.5268
    Note: DOI:10.3406/ecofi.2008.5268
    as

    Download full text from publisher

    File URL: https://doi.org/10.3406/ecofi.2008.5268
    Download Restriction: no
    File URL: https://www.persee.fr/doc/ecofi_0987-3368_2008_num_93_3_5268
    Download Restriction: no
    File URL: https://libkey.io/10.3406/ecofi.2008.5268?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Sajjad Zohir & Imran Matin, 2004. "Wider impacts of microfinance institutions: issues and concepts," Journal of International Development, John Wiley & Sons, Ltd., vol. 16(3), pages 301-330.
    2. Gonzalez, Adrian, 2007. "Resilience of Microfinance Institutions to National Macroeconomic Events: An Econometric Analysis of MFI asset quality," MPRA Paper 4317, University Library of Munich, Germany.
    3. Klaus Abbink & Bernd Irlenbusch & Elke Renner, 2006. "Interest Rates In Group Lending: A Behavioural Investigation," Pacific Economic Review, Wiley Blackwell, vol. 11(2), pages 185-199, June.
    4. Robert Cull & Asli Demirguç-Kunt & Jonathan Morduch, 2007. "Financial performance and outreach: a global analysis of leading microbanks," Economic Journal, Royal Economic Society, vol. 117(517), pages 107-133, February.
    5. Copestake, James, 2007. "Mainstreaming Microfinance: Social Performance Management or Mission Drift?," World Development, Elsevier, vol. 35(10), pages 1721-1738, October.
    6. Mosley, Paul & Hulme, David, 1998. "Microenterprise finance: Is there a conflict between growth and poverty alleviation?," World Development, Elsevier, vol. 26(5), pages 783-790, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Gutiérrez-Nieto, Begoña & Serrano-Cinca, Carlos, 2019. "20 years of research in microfinance: An information management approach," International Journal of Information Management, Elsevier, vol. 47(C), pages 183-197.
    2. Brière, Marie & Szafarz, Ariane, 2015. "Does Commercial Microfinance Belong to the Financial Sector? Lessons from the Stock Market," World Development, Elsevier, vol. 67(C), pages 110-125.
    3. Marie Briere & Ariane Szafarz, 2011. "Investment in Microfinance Equity: Risk, Return, and Diversification Benefits," Working Papers CEB 11-050, ULB -- Universite Libre de Bruxelles.
    4. Patrick Reichert, 2018. "A meta-analysis examining the nature of trade-offs in microfinance," Oxford Development Studies, Taylor & Francis Journals, vol. 46(3), pages 430-452, July.
    5. Attiya Yasmin Javid & Afsheen Abrar, 2015. "Microfinance Institutions and Poverty Reduction: A Cross Regional Analysis," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 54(4), pages 371-387.
    6. repec:dau:papers:123456789/7858 is not listed on IDEAS
    7. repec:dau:papers:123456789/14039 is not listed on IDEAS
    8. Beatriz Armendáriz & Ariane Szafarz, 2011. "On Mission Drift in Microfinance Institutions," World Scientific Book Chapters, in: Beatriz Armendáriz & Marc Labie (ed.), The Handbook Of Microfinance, chapter 16, pages 341-366, World Scientific Publishing Co. Pte. Ltd..
    9. Magloire TCHATCHOUA NYA & Alexandre AIACOBOAIEI, 2022. "Commercialisation des institutions de microfinance entraine-t-elle toujours une dérive de mission ?," Journal of Academic Finance, RED research unit, university of Gabes, Tunisia, vol. 13(1), pages 123-139, June.
    10. Simon Zaby, 2019. "Science Mapping of the Global Knowledge Base on Microfinance: Influential Authors and Documents, 1989–2019," Sustainability, MDPI, vol. 11(14), pages 1-21, July.
    11. Serrano-Cinca, Carlos & Gutiérrez-Nieto, Begoña, 2014. "Microfinance, the long tail and mission drift," International Business Review, Elsevier, vol. 23(1), pages 181-194.
    12. D’Espallier, Bert & Hudon, Marek & Szafarz, Ariane, 2013. "Unsubsidized microfinance institutions," Economics Letters, Elsevier, vol. 120(2), pages 174-176.
    13. Niels Hermes & Marek Hudon, 2018. "Determinants Of The Performance Of Microfinance Institutions: A Systematic Review," Journal of Economic Surveys, Wiley Blackwell, vol. 32(5), pages 1483-1513, December.
    14. Blanco-Oliver, Antonio & Irimia-Dieguez, Ana & Reguera-Alvarado, Nuria, 2016. "Prediction-oriented PLS path modeling in microfinance research," Journal of Business Research, Elsevier, vol. 69(10), pages 4643-4649.
    15. Sefa Awaworyi Churchill & Jeffrey Korankye Danso & Elikem Nyatefe, 2018. "Microfinance Institution Performance: Does the Macroeconomy Matter?," Economic Papers, The Economic Society of Australia, vol. 37(4), pages 429-442, December.
    16. Leonardo Becchetti & Stefano Castriota & Pierluigi Conzo, 2012. "Bank strategies in catastrophe settings: empirical evidence and policy suggestions," CEIS Research Paper 254, Tor Vergata University, CEIS, revised 08 Oct 2012.
    17. Aguilar, Ady & Galarza, Francisco, 2013. "Rentabilidad versus profundidad del alcance: un análisis de las entidades microfinancieras peruanas, 2006-2011 [Profitability and depth of outreach: analysis of the Peruvian microfinance organizati," MPRA Paper 51860, University Library of Munich, Germany.
    18. Dan Brockington & Nicola Banks, 2014. "Exploring the Success of BRAC Tanzania’s Microcredit Programme," Global Development Institute Working Paper Series 20214, GDI, The University of Manchester.
    19. Widiarto, Indra & Emrouznejad, Ali, 2015. "Social and financial efficiency of Islamic microfinance institutions: A Data Envelopment Analysis application," Socio-Economic Planning Sciences, Elsevier, vol. 50(C), pages 1-17.
    20. Florent Bédécarrats & Cécile Lapenu, 2013. "Assessing Microfinance: Striking the Balance Between Social Utility and Financial Performance," Palgrave Macmillan Books, in: Jean-Pierre Gueyie & Ronny Manos & Jacob Yaron (ed.), Microfinance in Developing Countries, chapter 4, pages 62-82, Palgrave Macmillan.
    21. Mohamed Adaskou & Abdelkarim Hssoune, 2021. "Determinants of the financial viability of Moroccan microcredit associations: An analysis by panel data [Les déterminants de la viabilité financière des associations de microcrédit marocaines : Une," Post-Print hal-04232431, HAL.
    22. Brijesh C. PUROHIT & S. SARAVANAN, 2018. "Sustainability and efficiency of microfinance institutions in South Asia," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(4(617), W), pages 97-120, Winter.

    More about this item

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G29 - Financial Economics - - Financial Institutions and Services - - - Other
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G29 - Financial Economics - - Financial Institutions and Services - - - Other
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prs:recofi:ecofi_0987-3368_2008_num_93_3_5268. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Equipe PERSEE (email available below). General contact details of provider: https://www.persee.fr/collection/ecofi .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.