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Microfinance - once and today

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  • Schmidt, Reinhard H.

Abstract

The German savings and cooperative banks of the 19th century were precursors of modern microfinance. They provided access to financial services for the majority of the German population, which was formerly excluded from bank funding. Furthermore, they did this at low costs for themselves and affordable prices for their clients. By creating networks of financially viable and stable financial institutions covering the entire country, they contributed significantly to building a sound and "inclusive" financial infrastructure in Germany. A look back at the history of German savings and cooperative banks and combining these experiences with the lessons learned from modern microfinance can guide current policy and be valuable for present and future models of microfinance business.

Suggested Citation

  • Schmidt, Reinhard H., 2017. "Microfinance - once and today," SAFE White Paper Series 48, Leibniz Institute for Financial Research SAFE.
    • Handle: RePEc:zbw:safewh:48
    as

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    File URL: https://www.econstor.eu/bitstream/10419/168023/1/896532593.pdf
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    References listed on IDEAS

    as
    1. Kotz Hans-Helmut & Schmidt Reinhard H., 2016. "Corporate Governance of Banks – A German Alternative to the Standard Model," Zeitschrift für Bankrecht und Bankwirtschaft (ZBB) / Journal of Banking Law and Banking (JBB), RWS Verlag, vol. 28(6), pages 427-444, December.
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    Keywords

    Microfinance; German savings banks; German cooperative banks; Inclusive Finance;
    All these keywords.

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