Abstract

http://ssrn.com/abstract=1612766
 
 

Citations (1)



 


 



Disintermediating Avarice: A Legal Framework for Commercially Sustainable Microfinance


Steven L. Schwarcz


Duke University - School of Law

August 1, 2011

University of Illinois Law Review, Vol. 2011, No. 4, 2011

Abstract:     
Although microfinance is emerging as a key tool to alleviate poverty, the need for microfinance lending vastly exceeds the amount of funds that can be raised from charitable donors. Commercial bank lending is supplementing donor money, but microfinance loans made by banks are extremely expensive and sometimes even exploitive. This article examines how innovative legal structures can enable microfinance loans to be funded directly from lower-cost, and virtually limitless, capital market sources by removing, or “disintermediating,” the need for a bank intermediary. In that context, the article identifies and attempts to resolve the resulting law-and-business issues of first impression and also examines, more normatively, the extent to which microfinance lending should rely on capital market funding sources.

Number of Pages in PDF File: 35

Accepted Paper Series


Download This Paper

Date posted: May 21, 2010 ; Last revised: January 4, 2014

Suggested Citation

Schwarcz, Steven L., Disintermediating Avarice: A Legal Framework for Commercially Sustainable Microfinance (August 1, 2011). University of Illinois Law Review, Vol. 2011, No. 4, 2011. Available at SSRN: http://ssrn.com/abstract=1612766

Contact Information

Steven L. Schwarcz (Contact Author)
Duke University - School of Law ( email )
Box 90360
Duke School of Law
Durham, NC 27708
United States
919-613-7060 (Phone)
919-613-7231 (Fax)
Feedback to SSRN


Paper statistics
Abstract Views: 1,231
Downloads: 168
Download Rank: 103,921
Citations:  1
People who downloaded this paper also downloaded:
1. Distorting Legal Principles
By Steven Schwarcz

Paper comments
No comments have been made on this paper

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo5 in 0.281 seconds