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Does Commercial Microfinance Belong to the Financial Sector? Lessons from the Stock Market.
- Source :
-
World Development . Mar2015, Vol. 67, p110-125. 16p. - Publication Year :
- 2015
-
Abstract
- Summary This paper is the first to draw a global picture of worldwide microfinance equity by taking full advantage of daily quoted prices. We revisit previous findings showing that investors should consider microfinance as a self-standing sector. Our results are threefold. First, microfinance has become less risky and more closely correlated with the financial sector. This convergence might be followed by a decline in the proportion of women borrowers. Second, microfinance and finance shares have equivalent currency exposure. Last, introducing a self-standing microfinance sector presents few diversification benefits. This paper confirms that microfinance has changed dramatically during the last decade. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 0305750X
- Volume :
- 67
- Database :
- Academic Search Index
- Journal :
- World Development
- Publication Type :
- Academic Journal
- Accession number :
- 108343202
- Full Text :
- https://doi.org/10.1016/j.worlddev.2014.10.007