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Innovations in Microfinance in Southeast Asia

Author

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  • Llanto, Gilberto M.
  • Fukui, Ryu

Abstract

This paper describes some emerging innovations in microfinance observed in Southeast Asian microfinance markets that make it possible for microfinance institutions (MFIs) to reach a greater number of poor households on a sustainable basis. It discusses the nature, importance and types of innovations. Innovations help reduce the MFI's transaction costs and risks. They also make it possible for poor households to satisfy their investment and consumption smoothing requirements. The paper draws some lessons from the experience with innovations and makes a case for government's important role in ensuring the proper functioning of markets. It points out government's pivotal role in system innovation because of the likelihood of its under-or-slow production by the private sector. MFIs have a clear advantage in process and product innovation to meet the requirements of poor clients. Thus, they should be given room in doing this.

Suggested Citation

  • Llanto, Gilberto M. & Fukui, Ryu, 2003. "Innovations in Microfinance in Southeast Asia," Discussion Papers DP 2003-11, Philippine Institute for Development Studies.
    • Handle: RePEc:phd:dpaper:dp_2003-11
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    File URL: https://www.pids.gov.ph/publication/discussion-papers/innovations-in-microfinance-in-southeast-asia
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    References listed on IDEAS

    as
    1. Zeller, Manfred & Sharma, Manohar, 1998. "Rural finance and poverty alleviation," Food policy reports 8, International Food Policy Research Institute (IFPRI).
    2. Besley, Timothy, 1994. "How Do Market Failures Justify Interventions in Rural Credit Markets?," The World Bank Research Observer, World Bank, vol. 9(1), pages 27-47, January.
    3. Yaron, Jacob, 1994. "What Makes Rural Finance Institutions Successful?," The World Bank Research Observer, World Bank, vol. 9(1), pages 49-70, January.
    4. Balisacan, Arsenio M. & Hill, Hal (ed.), 2003. "The Philippine Economy: Development, Policies, and Challenges," OUP Catalogue, Oxford University Press, number 9780195158984.
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    Cited by:

    1. Faisal Mustafa & Ambreen Khursheed & Maham Fatima, 2018. "Impact of global financial crunch on financially innovative microfinance institutions in South Asia," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 4(1), pages 1-11, December.

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