Luck or Skill? MFI Performance in Macroeconomic Context

Abstract

Microfinance institutions (MFI’s) are often evaluated for purposes of emulation, replication, and funding. One potential ingredient of MFI success that has not been sufficiently explored is the impact of the macroeconomy. This question takes on special importance since MFI’s often aim to bring improvement in precisely the places where the macroeconomy is… (More)

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