From Revolution to Evolution: Charting the Main Features of Microfinance 2.0

Fordham University, Department of Economics Discussion Paper No. 2008-03

43 Pages Posted: 27 Feb 2008

See all articles by Ronald U. Mendoza

Ronald U. Mendoza

Ateneo De Manila University - Ateneo School of Government

Brandon C. Vick

Indiana University of Pennsylvania

Date Written: February 2008

Abstract

The past thirty years or so has seen microfinance take off from small group-based lending experiments to several thousand financial service providers (FSPs) serving a growing portion of the developing world today. Nevertheless, the challenge to improve broadbased access to financial services - going beyond credit and into other products such as savings, insurance and money transfer services - remains. Where is the microfinance industry headed? This essay reviews the available evidence, and argues that both the public and private spheres are crucial to the continued dynamism and expansion of the microfinance industry - the private sector as a continued source of product and process innovations; and the public sector taking on a strong market enabling and development role.

Keywords: microfinance, market failures, information, innovation

JEL Classification: D52, O31, Q13

Suggested Citation

Mendoza, Ronald U. and Vick, Brandon C., From Revolution to Evolution: Charting the Main Features of Microfinance 2.0 (February 2008). Fordham University, Department of Economics Discussion Paper No. 2008-03. Available at SSRN: https://ssrn.com/abstract=1098982 or http://dx.doi.org/10.2139/ssrn.1098982

Ronald U. Mendoza (Contact Author)

Ateneo De Manila University - Ateneo School of Government ( email )

Katipunan Road
Loyola Heights
Quezon City, 1108
Philippines

Brandon C. Vick

Indiana University of Pennsylvania ( email )

Indiana, PA 15705
United States

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