IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/53018.html
   My bibliography  Save this paper

El éxito de la autorregulación de las instituciones microfinancieras en Bolivia: una prueba empírica
[The success of micro financial institutions' auto-regulation: empiric evidence of the Bolivian case]

Author

Listed:
  • Nogales Carvajal, Cristian Ricardo

Abstract

Until march 2008, two types of institutions coexisted in the bolivian micro financial market : the Microfinancial Institutions for Development (IFD, in spanish), which activities were mainly rural oriented and were not governed by the same banking regulations as all other financial institutions in the country, as oppossed to the Regulated Microfinancial Institutions (IMF, in spanish), which activities were mainly urban. Today, the Supervision Authority of Financial Institutions (SBEF, in spanish) has decided to recognize the IFD as financial institutions under the same regulation body as every other financial institution in the country. This decision implies that the IFD should have a financial performance comparable to the IMF. This study focuses on providing objective proof for the latter statement. It also proven that that the IFD have a significantly better social performance than other micro financial institutions, which allows to conclude that their inclusion in the banking regulation and the formal financial system, contributes significantly to financial social depth. In order to arrive to these conslusions, financial and social performance indexes were constructed using Factor Analysis techniques. The differences in the performance of each type of financial institution in the country were assessed through panel data models.

Suggested Citation

  • Nogales Carvajal, Cristian Ricardo, 2008. "El éxito de la autorregulación de las instituciones microfinancieras en Bolivia: una prueba empírica [The success of micro financial institutions' auto-regulation: empiric evidence of the Bolivian ," MPRA Paper 53018, University Library of Munich, Germany, revised Dec 2008.
    • Handle: RePEc:pra:mprapa:53018
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/53018/1/MPRA_paper_53018.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Pablo Cotler & Eduardo Rodríguez-Oreggia, 2008. "Rentabilidad y tamaño de préstamo de las microfinanzas en México. Un estudio de caso," Economía Mexicana NUEVA ÉPOCA, CIDE, División de Economía, vol. 0(2), pages 149-169, July-Dece.
    2. Simtowe, Franklin & Zeller, Manfred & Phiri, Alexander, 2006. "Determinants of Moral hazard in Microfinance: Empirical Evidence from Joint Liability Lending Schemes in Malawi," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25287, International Association of Agricultural Economists.
    3. Hartarska, Valentina, 2005. "Governance and performance of microfinance institutions in Central and Eastern Europe and the Newly Independent States," World Development, Elsevier, vol. 33(10), pages 1627-1643, October.
    4. Mark Schreiner, 2002. "Aspects of outreach: a framework for discussion of the social benefits of microfinance," Journal of International Development, John Wiley & Sons, Ltd., vol. 14(5), pages 591-603.
    5. Simtowe, Franklin & Zeller, Manfred, 2006. "Determinants of Moral Hazard in Microfinance: Empirical Evidence from Joint Liability Lending Programs in Malawi," MPRA Paper 461, University Library of Munich, Germany.
    6. Hartarska, Valentina M., 2004. "Governance and Performance of Microfinance Institutions in Central and Eastern Europe and the Newly Independent States," 2004 Annual Meeting, February 14-18, 2004, Tulsa, Oklahoma 34722, Southern Agricultural Economics Association.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Cristian Ricardo Nogales Carvajal & Carlos Alberto Foronda Rojas, 2010. "La inclusión en el sistema financiero y las microfinanzas," Investigación & Desarrollo, Universidad Privada Boliviana, vol. 11(1), pages 124-138.
    2. Miranda-Reyna, Montserrat & Carrillo-Urbina, Gilberto Jaime, 2017. "Impacto de los indicadores financieros en el desempeño de las instituciones microfinancieras en México: un estudio de panel desbalanceado," eseconomía, Escuela Superior de Economía, Instituto Politécnico Nacional, vol. 12(46), pages 41-60, Primer se.

    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. Cristian Ricardo Nogales Carvajal, 2008. "El éxito de la autorregulación de las instituciones microfinancieras en Bolivia: una prueba empírica," Investigación & Desarrollo, Universidad Privada Boliviana, vol. 1(1), pages 23-44.
    2. Arshad A. Khan & Sufyan U. Khan & Shah Fahad & Muhammad A. S. Ali & Aftab Khan & Jianchao Luo, 2021. "Microfinance and poverty reduction: New evidence from Pakistan," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(3), pages 4723-4733, July.
    3. Roy Mersland & Reidar Øystein Strøm, 2008. "Performance and trade-offs in Microfinance Organisations-does ownership matter?," Journal of International Development, John Wiley & Sons, Ltd., vol. 20(5), pages 598-612.
    4. 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.
    5. 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.
    6. Wijesiri, Mahinda & Yaron, Jacob & Meoli, Michele, 2017. "Assessing the financial and outreach efficiency of microfinance institutions: Do age and size matter?," Journal of Multinational Financial Management, Elsevier, vol. 40(C), pages 63-76.
    7. Tchapo Gbandi & Mawuli K. Couchoro & Mawulolo J. Agossou, 2021. "From the top to the bottom: The global environment and microfinance institution (MFI) performance in the West African Economic and Monetary Union countries," Journal of International Development, John Wiley & Sons, Ltd., vol. 33(7), pages 1087-1111, October.
    8. Ahmad Nawaz & Sana Iqbal & Sadaf Ehsan, 2018. "Does Social Performance Drive Corporate Governance Mechanism In Case of Asian MFIs? An Issue of Endogeneity," Global Business Review, International Management Institute, vol. 19(4), pages 988-1012, August.
    9. Aruna Balammal & R. Madhumathi & M.P. Ganesh, 2016. "Pentagon Performance Model of Indian MFIs," Paradigm, , vol. 20(1), pages 1-13, June.
    10. Balammal Aruna & Madhumathi R & Ganesh MP, 2019. "Performance Evaluation Frameworks in the Context of Indian Microfinance Institutions," Foundations of Management, Sciendo, vol. 11(1), pages 209-228, January.
    11. Ricardo N. Bebczuk, 2008. "Financial Inclusion in Latin America and the Caribbean: Review and Lessons," CEDLAS, Working Papers 0068, CEDLAS, Universidad Nacional de La Plata.
    12. Kasarjyan, Milada, 2011. "Improving the functioning of the rural financial markets of Armenia," Studies on the Agricultural and Food Sector in Transition Economies, Leibniz Institute of Agricultural Development in Transition Economies (IAMO), volume 62, number 62.
    13. Ernest Gyapong & Daniel Gyimah & Ammad Ahmed, 2021. "Religiosity, borrower gender and loan losses in microfinance institutions: a global evidence," Review of Quantitative Finance and Accounting, Springer, vol. 57(2), pages 657-692, August.
    14. Dlamini, Menzie S, 2011. "The effect of subsidies on the performance and sustainability of microfinance institutions in sub Saharan Africa," Research Theses 157512, Collaborative Masters Program in Agricultural and Applied Economics.
    15. Barry, Thierno Amadou & Tacneng, Ruth, 2014. "The Impact of Governance and Institutional Quality on MFI Outreach and Financial Performance in Sub-Saharan Africa," World Development, Elsevier, vol. 58(C), pages 1-20.
    16. Moez Bennouri & Anastasia Cozarenco & Samuel Anokye Nyarko, 2024. "Women on Boards and Performance Trade-offs in Social Enterprises: Insights from Microfinance," Journal of Business Ethics, Springer, vol. 190(1), pages 165-198, February.
    17. Fadhil, Rahmat & Yusuf, Muhammad Yasir & Bahri, T. Saiful & Maulana, Hafiizh & Fakhrurrazi, Fakhrurrazi, . "Precaution Strategy of Moral Hazard Practice in Agricultural Insurance in Indonesia: An Approach of Soft Systems Methodology," Economia Agraria y Recursos Naturales, Spanish Association of Agricultural Economists, vol. 21(02).
    18. Ahmad, Syedah & Lensink, Robert & Mueller, Annika, 2020. "The double bottom line of microfinance: A global comparison between conventional and Islamic microfinance," World Development, Elsevier, vol. 136(C).
    19. Adalessossi, Kokou, 2024. "What are the determinants of the financial and social performance of MFIs in Togo? Does gender borrower matter on financial performance?," Finance Research Letters, Elsevier, vol. 62(PA).
    20. Nicola Banks & Dan Brockington & David Hulme & Mathilde Maitrot, 2019. "Interrogating Microfinance Performance Beyond Products, Clients and the Environment: Insights From the Work of BRAC in Tanzania," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 31(3), pages 339-363, July.

    More about this item

    Keywords

    Microfinanzas; Desempeño Financiero; Desempeño Social; Análisis Factorial; Efectos Individuales Aleatorios;
    All these keywords.

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • 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:pra:mprapa:53018. 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: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    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.