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What Determines Premium of MFIs in the Mena Region? A Panel Data Analysis (2004- 2014)

Authors
  • Adair, Philippe
  • Berguiga, Imene
Publication Date
Jan 01, 2017
Source
HAL-UPMC
Keywords
Language
English
License
Unknown
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Abstract

This is the first paper to address the premium-social performance relationship upon an unbalanced panel of 66 microfinance institutions (MFIs) in the MENA region over 2004-2014. According to a fixed effects model using instrumental variables, financial sustainability is the primary determinant of premium (i.e. the financial margin), whereupon social performance has a positive albeit insignificant impact. Mature MFIs maintain financial sustainability and serve rather non-poor clients, although they tame interest rates.

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