The new moneylenders: Are the poor being exploited by high microcredit interest rates?

Richard S. Rosenberg · Adrian F. Gonzalez · Sushma Narain

201 citations0/0 files storedContemporary studies in economic and financial analysis

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Microfinance and Financial Inclusion Banking stability, regulation, efficiency Innovation and Socioeconomic Development

Abstract

Over the past two decades, institutions that make microloans to low-income borrowers in developing and transition economies have focused increasingly on making their lending operations financially sustainable by charging interest rates that are high enough to cover all their costs. They argue that doing so will best ensure the permanence and expansion of the services they provide. Sustainable (i.e., profitable) microfinance providers can continue to serve their clients without needing ongoing infusions of subsidies and can fund exponential growth of services for new clients by tapping commercial sources, including deposits from the public.

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References

1991The Failure of Competition in the Credit Card Market 2009Observing Unobservables: Identifying Information Asymmetries With a Consumer Credit Field Experiment 2021Undermining Rural Development with Cheap Credit 2011Do interest rates matter? Credit demand in the Dhaka slums 2005What's Psychology Worth? A Field Experiment in the Consumer Credit Market

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2013The Ethical Crisis in Microfinance: Issues, Findings, and Implications 2014Lending to women in microfinance: Role of social trust 2012The Profit Orientation of Microfinance Institutions and Effective Interest Rates 2013Microfinance, the long tail and mission drift 2013Microcredit Interest Rates and Their Determinants: 2004–2011 2013The Financialization of Micro‐Credit 2015Incorporating environmental criteria into credit risk management in Bangladeshi banks 2012Developing microfinance: A survey of the literature

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