The Triangle of Microfinance: Financial Sustainability, Outreach, and Impact

The Triangle of Microfinance: Financial Sustainability, Outreach, and Impact

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Product Details

ISBN-13: 9780801872266
Publisher: International Food Policy Research Institute
Publication date: 12/01/2002
Series: International Food Policy Research Institute Series
Pages: 424
Product dimensions: 6.00(w) x 9.00(h) x 0.88(d)
Age Range: 18 Years

About the Author

Manfred Zeller was a research fellow at IFPRI and leader of its multicountry program on rural financial policies and food security until 1999. He is now professor at the University of Göttingen, Germany, and director of its Institute of Rural Development. Richard L. Meyer is Emeritus Professor and Senior Research Specialist in the Department of Agricultural, Environmental, and Development Economics at The Ohio State University.

International Food Policy Research Institute

Table of Contents

Contents:

List of FiguresList of TablesList of BoxesForeword

Preface

1 Improving the Preformance of Microfinance: Financial Sustainability, Outreach, and Impact

MANFRED ZELLER AND RICHARD L. MEYERPART I Access to and Demand for Financial Services by the Poor 2 Access to and Demand for Financial Services by the Rural Poor: A Multicounty Synthesis

MANFRED ZELLER AND MANOHAR SHARMA3 Characteristics of Household Demand for Financial Services in Highly Uncertain Economies: A Review of Evidence from Burkina Faso

GENEVIÉVE NGUYEN, BETTY WAMPFLER, MICHEL BENOIT-CATTIN, AND KIMSEYINGA SAVADOGO4 Wealth and Rural Credit among Farmers in Mexico: Is Market Participation Consistent with Trageting?

JULIE STANTON5 Credit Constraints and Loan Demand in Rural Bangladesh

MANFRED ZELLER AND MANOHAR SHARMA6 Improving Access to Land Markets: Evidence from Engineering Farmers in KwaZulu-Natal, South Africa

MICHAEL LYNE AND MARK DARROCHPART II Outreach and Financial Sustainability of Institutions 7 Outreach and Sustainability of Member-based Rural Financial Intermediaries

JULIA PAXTON AND CARLOS E. CUEVAS8 Microcredit and the Poorest of the Poor: Theory and Evidence from Bolivia

SERGIO NAVAJAS, MARK SCHREINER, RICHARD L. MEYER, CLAUDIO GONZALEZ-VEGA, AND JORGE RODRIGUEZ-MEZA9 An Operational Tool for Evaluating the Poverty Outreach Development Policies and Projects

MANFRED ZELLER, MANOHAR SHARMA, CARLA HENRY, AND CÉCILE LAPENU10 Transaction Costs of Group and Individual Lending and Rural Financial Market Access: The Case of Poverty-Oriented Microfinance in Cameroon

FRANZ HEIDUES, DIEUDONNE BELLE-SOSSOH, AND GERTRUD BUCHENRIEDERPART III Measuring the Impact of Microfinance 11 Impact of Microfinance on Food Security and Poverty Alleviation: A Review and Synthesis of Empirical Evidence

MANOHAR SHARMA AND GERTRUD BUCHENRIEDER12 Impact of Acces to Credit on Maize and Tobacco Productivity in Malawi

ALIOU DIAGNE13 Explaining Poverty: An Empirical Analysis of the Effects of Ill Health and Uncertainty on the Savings of Rural Pakistani Households

ANJINI KOCHARPART IV Toward Economic Sustainability of Rural Financial Systems for the Poor: The Role of Public Action and the Private Sector 14 The Microfinance Revolution: Implications for the Role of teh State

CÉCILE LAPENU15 Recent Developments in Rural FInance Markets

JACOB YARON AND McDONALD BENJAMIN16 Credit Systems for the Rural Poor in the Economic Transition of China: Institutions, Outreach, and Policy Options

ZHU LING, JIANG ZHONGYI, JOACHIM VON BRAUN17 Summary and Implications for Policy and Research

RICHARD L. MEYER AND MANFRED ZELLER

Contributors

Index

International Food Policy Research Institute

What People are Saying About This

Jonathan Morduch

The genius of microfinance lies in simple ideas, like group lending, that have made it possible to provide financial services to people previously thought to be 'unbankable.' But behind those simple ideas are a set of complicated tradeoffs and relationships. This important book faces those tradeoffs head-on, exploring tensions between creating profitable banks and facilitating meaningful social change. The editors have brought together leading researchers to investigate both the mechanics of microfinance institutions and the roles these institutions can play in the lives of the poor. The result is new, unvarnished evidence on the achievements and limits of microfinance and a renewed assessment of its possibilities. The studies replace advocacy with analysis and come together to form a clear agenda to push the field forward.

Jonathan Morduch, Associate Professor of Public Policy and Economics, New York University

Elisabeth Sadoulet

The book addresses a remarkable breadth of important issues faced in providing financial services to the poor, including the difficult tradeoff between reaching the poorest and financial sustainability, the multiple interrelated needs of the poor not only for credit but also for savings and insurance facilities, and the very high transactions cost to be faced in providing services to the dispersed rural poor. It also addresses a number of difficult methodological issues faced by analysts of microfinance schemes in assessing effective needs for credit, evaluating outreach, and measuring impact. As such, it will be of interest to both practitioners and analysts of microfinance schemes.

Elisabeth Sadoulet, Professor, University of California, Berkeley

J. D. von Pischke

The Triangle of Microfinance is an important book that comes at a time when a revival is at hand for donor-driven rural finance following a hiatus of more than ten years. The hiatus began after it had become overwhelmingly clear that donor-driven farm credit projects had been a massive government failure. Successful microfinance can to some degree invigorate the forthcoming revival, but little has been done to design better rural financial systems, which remains the most challenging task. Empirical work presented in this book offers useful points of reference for meeting this challenge. Its chapters provide a valuable and essential statement of core policy issues for donors and their friends and detractors to struggle with and debate. As the revival unfolds, this book is likely to emerge as a centerpiece.

J. D. von Pischke, author of Finance at the Frontier

Jonathan Morduch

The genius of microfinance lies in simple ideas, like group lending, that have made it possible to provide financial services to people previously thought to be 'unbankable.' But behind those simple ideas are a set of complicated tradeoffs and relationships. This important book faces those tradeoffs head-on, exploring tensions between creating profitable banks and facilitating meaningful social change. The editors have brought together leading researchers to investigate both the mechanics of microfinance institutions and the roles these institutions can play in the lives of the poor. The result is new, unvarnished evidence on the achievements and limits of microfinance and a renewed assessment of its possibilities. The studies replace advocacy with analysis and come together to form a clear agenda to push the field forward.

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