Microfinance Tradeoffs : Regulation, Competition, and Financing
This paper describes important trade-offs that microfinance practitioners, donors, and regulators navigate. Drawing evidence from large, global surveys of microfinance institutions, the authors find a basic tension between meeting social goals and maximizing financial performance. For example, non-profit microfinance institutions make far smaller loans on average and serve more women as a fraction of customers than do commercialized microfinance banks, but their costs per dollar lent are also much higher. Potential trade-offs therefore arise when selecting contracting mechanisms, level of commercialization, rigor of regulation, and the extent of competition. Meaningful interventions in microfinance will require making deliberate choices - and thus embracing and weighing tradeoffs carefully.
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dig-okr-1098642782024-08-08T16:17:57Z Microfinance Tradeoffs : Regulation, Competition, and Financing Cull, Robert Demirgüç-Kunt, Asli Morduch, Jonathan ACCESS TO FINANCE ACCOUNTING ADMINISTRATIVE BURDENS ADVERSE SELECTION AFFILIATE ALLOCATION OF CAPITAL ASYMMETRIC INFORMATION BANK BRANCHES BANK POLICY BANKING SECTOR BANKING SERVICES BANKS BORROWER BORROWING CAPITAL COSTS CAPITAL MARKETS COLLATERAL COMMERCIAL BANKS COMMERCIAL FUNDING COMMERCIAL LENDERS COMMERCIAL LENDING COMMERCIAL TERMS CONFIDENTIALITY COST OF CAPITAL COST OF FUNDS CREDIT BUREAUS CREDIT MARKET DELINQUENCY RATES DEMAND FOR CREDIT DEPOSIT DEPOSIT ACCOUNTS DEPOSIT RATE DEPOSIT-TAKING INSTITUTIONS DEPOSITS DEVELOPING COUNTRIES DOUBLE BOTTOM LINE DUMMY VARIABLES ENTREPRENEURS FEMALE CLIENTS FINANCIAL ACCESS FINANCIAL DATA FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL PERFORMANCE FINANCIAL RATIOS FINANCIAL RETURNS FINANCIAL SELF-SUFFICIENCY FINANCIAL SELF-SUSTAINABILITY FINANCIAL SERVICES FINANCIAL SUSTAINABILITY FUNDING SOURCES GOVERNANCE INDICATORS GRAMEEN BANK GROWTH RATE HOUSEHOLDS IMPLICIT SUBSIDIES INCOME INCOME DISTRIBUTION INCOME LEVELS INFLATION INFORMATION ASYMMETRIES INSTITUTIONAL DEVELOPMENT INSURANCE INTEREST RATE INTEREST RATES INTEREST RATES ON LOANS INTERNATIONAL BANK INTERNATIONAL BANKING INTERNATIONAL FINANCIAL STATISTICS JOINT LIABILITY LABOR COSTS LENDER LENDING AGREEMENTS LOAN LOAN DELINQUENCIES LOAN DELINQUENCY LOAN PORTFOLIO LOAN PORTFOLIOS LOAN QUALITY LOAN REPAYMENT LOAN REPAYMENT RATES LOAN SIZE LOAN SIZES MARKET FAILURES MARKET INFORMATION MARKET MECHANISM MEASURES OF PROFITABILITY MFI MICROBANKING MICROCREDIT MICROFINANCE MICROFINANCE INSTITUTION MICROFINANCE INSTITUTIONS MICROFINANCE PRACTITIONERS MICROFINANCE SECTOR MOBILE BANKING MONETARY FUND MORAL HAZARD NONBANK FINANCIAL INSTITUTIONS OPEN MARKET OPERATING COST OPERATING COSTS OPPORTUNITY COST OUTREACH OWNERSHIP STRUCTURE POOR BORROWERS POOR HOUSEHOLDS PORTFOLIO QUALITY PROFITABILITY PRUDENTIAL REGULATION PRUDENTIAL SUPERVISION PUBLIC OFFERING RATES OF INTEREST REGULATOR REGULATORS REGULATORY AUTHORITY REGULATORY ENVIRONMENT REMITTANCE REMITTANCE SERVICES RETURN RETURN ON ASSETS RETURN ON EQUITY RETURNS RISK SHARING SAVINGS SMALL LOANS SOURCE OF FUNDS SUBSIDIZATION TRANSACTION TRANSACTION COSTS TRANSACTIONS COSTS VILLAGE VILLAGE BANKS WOMEN BORROWERS This paper describes important trade-offs that microfinance practitioners, donors, and regulators navigate. Drawing evidence from large, global surveys of microfinance institutions, the authors find a basic tension between meeting social goals and maximizing financial performance. For example, non-profit microfinance institutions make far smaller loans on average and serve more women as a fraction of customers than do commercialized microfinance banks, but their costs per dollar lent are also much higher. Potential trade-offs therefore arise when selecting contracting mechanisms, level of commercialization, rigor of regulation, and the extent of competition. Meaningful interventions in microfinance will require making deliberate choices - and thus embracing and weighing tradeoffs carefully. 2012-03-19T19:13:09Z 2012-03-19T19:13:09Z 2009-10-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20091021111857 https://hdl.handle.net/10986/4278 English Policy Research Working Paper ; No. 5086 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank application/pdf text/plain |
institution |
Banco Mundial |
collection |
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country |
Estados Unidos |
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US |
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Bibliográfico |
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En linea |
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biblioteca |
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America del Norte |
libraryname |
Biblioteca del Banco Mundial |
language |
English |
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ACCESS TO FINANCE ACCOUNTING ADMINISTRATIVE BURDENS ADVERSE SELECTION AFFILIATE ALLOCATION OF CAPITAL ASYMMETRIC INFORMATION BANK BRANCHES BANK POLICY BANKING SECTOR BANKING SERVICES BANKS BORROWER BORROWING CAPITAL COSTS CAPITAL MARKETS COLLATERAL COMMERCIAL BANKS COMMERCIAL FUNDING COMMERCIAL LENDERS COMMERCIAL LENDING COMMERCIAL TERMS CONFIDENTIALITY COST OF CAPITAL COST OF FUNDS CREDIT BUREAUS CREDIT MARKET DELINQUENCY RATES DEMAND FOR CREDIT DEPOSIT DEPOSIT ACCOUNTS DEPOSIT RATE DEPOSIT-TAKING INSTITUTIONS DEPOSITS DEVELOPING COUNTRIES DOUBLE BOTTOM LINE DUMMY VARIABLES ENTREPRENEURS FEMALE CLIENTS FINANCIAL ACCESS FINANCIAL DATA FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL PERFORMANCE FINANCIAL RATIOS FINANCIAL RETURNS FINANCIAL SELF-SUFFICIENCY FINANCIAL SELF-SUSTAINABILITY FINANCIAL SERVICES FINANCIAL SUSTAINABILITY FUNDING SOURCES GOVERNANCE INDICATORS GRAMEEN BANK GROWTH RATE HOUSEHOLDS IMPLICIT SUBSIDIES INCOME INCOME DISTRIBUTION INCOME LEVELS INFLATION INFORMATION ASYMMETRIES INSTITUTIONAL DEVELOPMENT INSURANCE INTEREST RATE INTEREST RATES INTEREST RATES ON LOANS INTERNATIONAL BANK INTERNATIONAL BANKING INTERNATIONAL FINANCIAL STATISTICS JOINT LIABILITY LABOR COSTS LENDER LENDING AGREEMENTS LOAN LOAN DELINQUENCIES LOAN DELINQUENCY LOAN PORTFOLIO LOAN PORTFOLIOS LOAN QUALITY LOAN REPAYMENT LOAN REPAYMENT RATES LOAN SIZE LOAN SIZES MARKET FAILURES MARKET INFORMATION MARKET MECHANISM MEASURES OF PROFITABILITY MFI MICROBANKING MICROCREDIT MICROFINANCE MICROFINANCE INSTITUTION MICROFINANCE INSTITUTIONS MICROFINANCE PRACTITIONERS MICROFINANCE SECTOR MOBILE BANKING MONETARY FUND MORAL HAZARD NONBANK FINANCIAL INSTITUTIONS OPEN MARKET OPERATING COST OPERATING COSTS OPPORTUNITY COST OUTREACH OWNERSHIP STRUCTURE POOR BORROWERS POOR HOUSEHOLDS PORTFOLIO QUALITY PROFITABILITY PRUDENTIAL REGULATION PRUDENTIAL SUPERVISION PUBLIC OFFERING RATES OF INTEREST REGULATOR REGULATORS REGULATORY AUTHORITY REGULATORY ENVIRONMENT REMITTANCE REMITTANCE SERVICES RETURN RETURN ON ASSETS RETURN ON EQUITY RETURNS RISK SHARING SAVINGS SMALL LOANS SOURCE OF FUNDS SUBSIDIZATION TRANSACTION TRANSACTION COSTS TRANSACTIONS COSTS VILLAGE VILLAGE BANKS WOMEN BORROWERS ACCESS TO FINANCE ACCOUNTING ADMINISTRATIVE BURDENS ADVERSE SELECTION AFFILIATE ALLOCATION OF CAPITAL ASYMMETRIC INFORMATION BANK BRANCHES BANK POLICY BANKING SECTOR BANKING SERVICES BANKS BORROWER BORROWING CAPITAL COSTS CAPITAL MARKETS COLLATERAL COMMERCIAL BANKS COMMERCIAL FUNDING COMMERCIAL LENDERS COMMERCIAL LENDING COMMERCIAL TERMS CONFIDENTIALITY COST OF CAPITAL COST OF FUNDS CREDIT BUREAUS CREDIT MARKET DELINQUENCY RATES DEMAND FOR CREDIT DEPOSIT DEPOSIT ACCOUNTS DEPOSIT RATE DEPOSIT-TAKING INSTITUTIONS DEPOSITS DEVELOPING COUNTRIES DOUBLE BOTTOM LINE DUMMY VARIABLES ENTREPRENEURS FEMALE CLIENTS FINANCIAL ACCESS FINANCIAL DATA FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL PERFORMANCE FINANCIAL RATIOS FINANCIAL RETURNS FINANCIAL SELF-SUFFICIENCY FINANCIAL SELF-SUSTAINABILITY FINANCIAL SERVICES FINANCIAL SUSTAINABILITY FUNDING SOURCES GOVERNANCE INDICATORS GRAMEEN BANK GROWTH RATE HOUSEHOLDS IMPLICIT SUBSIDIES INCOME INCOME DISTRIBUTION INCOME LEVELS INFLATION INFORMATION ASYMMETRIES INSTITUTIONAL DEVELOPMENT INSURANCE INTEREST RATE INTEREST RATES INTEREST RATES ON LOANS INTERNATIONAL BANK INTERNATIONAL BANKING INTERNATIONAL FINANCIAL STATISTICS JOINT LIABILITY LABOR COSTS LENDER LENDING AGREEMENTS LOAN LOAN DELINQUENCIES LOAN DELINQUENCY LOAN PORTFOLIO LOAN PORTFOLIOS LOAN QUALITY LOAN REPAYMENT LOAN REPAYMENT RATES LOAN SIZE LOAN SIZES MARKET FAILURES MARKET INFORMATION MARKET MECHANISM MEASURES OF PROFITABILITY MFI MICROBANKING MICROCREDIT MICROFINANCE MICROFINANCE INSTITUTION MICROFINANCE INSTITUTIONS MICROFINANCE PRACTITIONERS MICROFINANCE SECTOR MOBILE BANKING MONETARY FUND MORAL HAZARD NONBANK FINANCIAL INSTITUTIONS OPEN MARKET OPERATING COST OPERATING COSTS OPPORTUNITY COST OUTREACH OWNERSHIP STRUCTURE POOR BORROWERS POOR HOUSEHOLDS PORTFOLIO QUALITY PROFITABILITY PRUDENTIAL REGULATION PRUDENTIAL SUPERVISION PUBLIC OFFERING RATES OF INTEREST REGULATOR REGULATORS REGULATORY AUTHORITY REGULATORY ENVIRONMENT REMITTANCE REMITTANCE SERVICES RETURN RETURN ON ASSETS RETURN ON EQUITY RETURNS RISK SHARING SAVINGS SMALL LOANS SOURCE OF FUNDS SUBSIDIZATION TRANSACTION TRANSACTION COSTS TRANSACTIONS COSTS VILLAGE VILLAGE BANKS WOMEN BORROWERS |
spellingShingle |
ACCESS TO FINANCE ACCOUNTING ADMINISTRATIVE BURDENS ADVERSE SELECTION AFFILIATE ALLOCATION OF CAPITAL ASYMMETRIC INFORMATION BANK BRANCHES BANK POLICY BANKING SECTOR BANKING SERVICES BANKS BORROWER BORROWING CAPITAL COSTS CAPITAL MARKETS COLLATERAL COMMERCIAL BANKS COMMERCIAL FUNDING COMMERCIAL LENDERS COMMERCIAL LENDING COMMERCIAL TERMS CONFIDENTIALITY COST OF CAPITAL COST OF FUNDS CREDIT BUREAUS CREDIT MARKET DELINQUENCY RATES DEMAND FOR CREDIT DEPOSIT DEPOSIT ACCOUNTS DEPOSIT RATE DEPOSIT-TAKING INSTITUTIONS DEPOSITS DEVELOPING COUNTRIES DOUBLE BOTTOM LINE DUMMY VARIABLES ENTREPRENEURS FEMALE CLIENTS FINANCIAL ACCESS FINANCIAL DATA FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL PERFORMANCE FINANCIAL RATIOS FINANCIAL RETURNS FINANCIAL SELF-SUFFICIENCY FINANCIAL SELF-SUSTAINABILITY FINANCIAL SERVICES FINANCIAL SUSTAINABILITY FUNDING SOURCES GOVERNANCE INDICATORS GRAMEEN BANK GROWTH RATE HOUSEHOLDS IMPLICIT SUBSIDIES INCOME INCOME DISTRIBUTION INCOME LEVELS INFLATION INFORMATION ASYMMETRIES INSTITUTIONAL DEVELOPMENT INSURANCE INTEREST RATE INTEREST RATES INTEREST RATES ON LOANS INTERNATIONAL BANK INTERNATIONAL BANKING INTERNATIONAL FINANCIAL STATISTICS JOINT LIABILITY LABOR COSTS LENDER LENDING AGREEMENTS LOAN LOAN DELINQUENCIES LOAN DELINQUENCY LOAN PORTFOLIO LOAN PORTFOLIOS LOAN QUALITY LOAN REPAYMENT LOAN REPAYMENT RATES LOAN SIZE LOAN SIZES MARKET FAILURES MARKET INFORMATION MARKET MECHANISM MEASURES OF PROFITABILITY MFI MICROBANKING MICROCREDIT MICROFINANCE MICROFINANCE INSTITUTION MICROFINANCE INSTITUTIONS MICROFINANCE PRACTITIONERS MICROFINANCE SECTOR MOBILE BANKING MONETARY FUND MORAL HAZARD NONBANK FINANCIAL INSTITUTIONS OPEN MARKET OPERATING COST OPERATING COSTS OPPORTUNITY COST OUTREACH OWNERSHIP STRUCTURE POOR BORROWERS POOR HOUSEHOLDS PORTFOLIO QUALITY PROFITABILITY PRUDENTIAL REGULATION PRUDENTIAL SUPERVISION PUBLIC OFFERING RATES OF INTEREST REGULATOR REGULATORS REGULATORY AUTHORITY REGULATORY ENVIRONMENT REMITTANCE REMITTANCE SERVICES RETURN RETURN ON ASSETS RETURN ON EQUITY RETURNS RISK SHARING SAVINGS SMALL LOANS SOURCE OF FUNDS SUBSIDIZATION TRANSACTION TRANSACTION COSTS TRANSACTIONS COSTS VILLAGE VILLAGE BANKS WOMEN BORROWERS ACCESS TO FINANCE ACCOUNTING ADMINISTRATIVE BURDENS ADVERSE SELECTION AFFILIATE ALLOCATION OF CAPITAL ASYMMETRIC INFORMATION BANK BRANCHES BANK POLICY BANKING SECTOR BANKING SERVICES BANKS BORROWER BORROWING CAPITAL COSTS CAPITAL MARKETS COLLATERAL COMMERCIAL BANKS COMMERCIAL FUNDING COMMERCIAL LENDERS COMMERCIAL LENDING COMMERCIAL TERMS CONFIDENTIALITY COST OF CAPITAL COST OF FUNDS CREDIT BUREAUS CREDIT MARKET DELINQUENCY RATES DEMAND FOR CREDIT DEPOSIT DEPOSIT ACCOUNTS DEPOSIT RATE DEPOSIT-TAKING INSTITUTIONS DEPOSITS DEVELOPING COUNTRIES DOUBLE BOTTOM LINE DUMMY VARIABLES ENTREPRENEURS FEMALE CLIENTS FINANCIAL ACCESS FINANCIAL DATA FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL PERFORMANCE FINANCIAL RATIOS FINANCIAL RETURNS FINANCIAL SELF-SUFFICIENCY FINANCIAL SELF-SUSTAINABILITY FINANCIAL SERVICES FINANCIAL SUSTAINABILITY FUNDING SOURCES GOVERNANCE INDICATORS GRAMEEN BANK GROWTH RATE HOUSEHOLDS IMPLICIT SUBSIDIES INCOME INCOME DISTRIBUTION INCOME LEVELS INFLATION INFORMATION ASYMMETRIES INSTITUTIONAL DEVELOPMENT INSURANCE INTEREST RATE INTEREST RATES INTEREST RATES ON LOANS INTERNATIONAL BANK INTERNATIONAL BANKING INTERNATIONAL FINANCIAL STATISTICS JOINT LIABILITY LABOR COSTS LENDER LENDING AGREEMENTS LOAN LOAN DELINQUENCIES LOAN DELINQUENCY LOAN PORTFOLIO LOAN PORTFOLIOS LOAN QUALITY LOAN REPAYMENT LOAN REPAYMENT RATES LOAN SIZE LOAN SIZES MARKET FAILURES MARKET INFORMATION MARKET MECHANISM MEASURES OF PROFITABILITY MFI MICROBANKING MICROCREDIT MICROFINANCE MICROFINANCE INSTITUTION MICROFINANCE INSTITUTIONS MICROFINANCE PRACTITIONERS MICROFINANCE SECTOR MOBILE BANKING MONETARY FUND MORAL HAZARD NONBANK FINANCIAL INSTITUTIONS OPEN MARKET OPERATING COST OPERATING COSTS OPPORTUNITY COST OUTREACH OWNERSHIP STRUCTURE POOR BORROWERS POOR HOUSEHOLDS PORTFOLIO QUALITY PROFITABILITY PRUDENTIAL REGULATION PRUDENTIAL SUPERVISION PUBLIC OFFERING RATES OF INTEREST REGULATOR REGULATORS REGULATORY AUTHORITY REGULATORY ENVIRONMENT REMITTANCE REMITTANCE SERVICES RETURN RETURN ON ASSETS RETURN ON EQUITY RETURNS RISK SHARING SAVINGS SMALL LOANS SOURCE OF FUNDS SUBSIDIZATION TRANSACTION TRANSACTION COSTS TRANSACTIONS COSTS VILLAGE VILLAGE BANKS WOMEN BORROWERS Cull, Robert Demirgüç-Kunt, Asli Morduch, Jonathan Microfinance Tradeoffs : Regulation, Competition, and Financing |
description |
This paper describes important
trade-offs that microfinance practitioners, donors, and
regulators navigate. Drawing evidence from large, global
surveys of microfinance institutions, the authors find a
basic tension between meeting social goals and maximizing
financial performance. For example, non-profit microfinance
institutions make far smaller loans on average and serve
more women as a fraction of customers than do commercialized
microfinance banks, but their costs per dollar lent are also
much higher. Potential trade-offs therefore arise when
selecting contracting mechanisms, level of
commercialization, rigor of regulation, and the extent of
competition. Meaningful interventions in microfinance will
require making deliberate choices - and thus embracing and
weighing tradeoffs carefully. |
topic_facet |
ACCESS TO FINANCE ACCOUNTING ADMINISTRATIVE BURDENS ADVERSE SELECTION AFFILIATE ALLOCATION OF CAPITAL ASYMMETRIC INFORMATION BANK BRANCHES BANK POLICY BANKING SECTOR BANKING SERVICES BANKS BORROWER BORROWING CAPITAL COSTS CAPITAL MARKETS COLLATERAL COMMERCIAL BANKS COMMERCIAL FUNDING COMMERCIAL LENDERS COMMERCIAL LENDING COMMERCIAL TERMS CONFIDENTIALITY COST OF CAPITAL COST OF FUNDS CREDIT BUREAUS CREDIT MARKET DELINQUENCY RATES DEMAND FOR CREDIT DEPOSIT DEPOSIT ACCOUNTS DEPOSIT RATE DEPOSIT-TAKING INSTITUTIONS DEPOSITS DEVELOPING COUNTRIES DOUBLE BOTTOM LINE DUMMY VARIABLES ENTREPRENEURS FEMALE CLIENTS FINANCIAL ACCESS FINANCIAL DATA FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL PERFORMANCE FINANCIAL RATIOS FINANCIAL RETURNS FINANCIAL SELF-SUFFICIENCY FINANCIAL SELF-SUSTAINABILITY FINANCIAL SERVICES FINANCIAL SUSTAINABILITY FUNDING SOURCES GOVERNANCE INDICATORS GRAMEEN BANK GROWTH RATE HOUSEHOLDS IMPLICIT SUBSIDIES INCOME INCOME DISTRIBUTION INCOME LEVELS INFLATION INFORMATION ASYMMETRIES INSTITUTIONAL DEVELOPMENT INSURANCE INTEREST RATE INTEREST RATES INTEREST RATES ON LOANS INTERNATIONAL BANK INTERNATIONAL BANKING INTERNATIONAL FINANCIAL STATISTICS JOINT LIABILITY LABOR COSTS LENDER LENDING AGREEMENTS LOAN LOAN DELINQUENCIES LOAN DELINQUENCY LOAN PORTFOLIO LOAN PORTFOLIOS LOAN QUALITY LOAN REPAYMENT LOAN REPAYMENT RATES LOAN SIZE LOAN SIZES MARKET FAILURES MARKET INFORMATION MARKET MECHANISM MEASURES OF PROFITABILITY MFI MICROBANKING MICROCREDIT MICROFINANCE MICROFINANCE INSTITUTION MICROFINANCE INSTITUTIONS MICROFINANCE PRACTITIONERS MICROFINANCE SECTOR MOBILE BANKING MONETARY FUND MORAL HAZARD NONBANK FINANCIAL INSTITUTIONS OPEN MARKET OPERATING COST OPERATING COSTS OPPORTUNITY COST OUTREACH OWNERSHIP STRUCTURE POOR BORROWERS POOR HOUSEHOLDS PORTFOLIO QUALITY PROFITABILITY PRUDENTIAL REGULATION PRUDENTIAL SUPERVISION PUBLIC OFFERING RATES OF INTEREST REGULATOR REGULATORS REGULATORY AUTHORITY REGULATORY ENVIRONMENT REMITTANCE REMITTANCE SERVICES RETURN RETURN ON ASSETS RETURN ON EQUITY RETURNS RISK SHARING SAVINGS SMALL LOANS SOURCE OF FUNDS SUBSIDIZATION TRANSACTION TRANSACTION COSTS TRANSACTIONS COSTS VILLAGE VILLAGE BANKS WOMEN BORROWERS |
author |
Cull, Robert Demirgüç-Kunt, Asli Morduch, Jonathan |
author_facet |
Cull, Robert Demirgüç-Kunt, Asli Morduch, Jonathan |
author_sort |
Cull, Robert |
title |
Microfinance Tradeoffs : Regulation, Competition, and Financing |
title_short |
Microfinance Tradeoffs : Regulation, Competition, and Financing |
title_full |
Microfinance Tradeoffs : Regulation, Competition, and Financing |
title_fullStr |
Microfinance Tradeoffs : Regulation, Competition, and Financing |
title_full_unstemmed |
Microfinance Tradeoffs : Regulation, Competition, and Financing |
title_sort |
microfinance tradeoffs : regulation, competition, and financing |
publishDate |
2009-10-01 |
url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20091021111857 https://hdl.handle.net/10986/4278 |
work_keys_str_mv |
AT cullrobert microfinancetradeoffsregulationcompetitionandfinancing AT demirguckuntasli microfinancetradeoffsregulationcompetitionandfinancing AT morduchjonathan microfinancetradeoffsregulationcompetitionandfinancing |
_version_ |
1807155322512474112 |