Delfiner, Miguel Tomas and Gomez, Anabela and Peron, Silvana (2009): Public Policy on Microfinance in South America.
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The purpose of this paper is to analyze the impact of public policies in various countries of South America on the development of microfinance (MF). A broad definition of public policy has been used in this work, as it covers specific legislation seeking to develop more inclusive financial systems; government participation in official bank programs; second-tier bank funds; the use of targeted funds and guarantee and intelligent subsidy schemes, etc. Particular attention is focused on financial system regulatory frameworks, as they tend to play a fundamental role in the success of such programs. An analysis is made of best practices recommended by international agencies, matching them against the existing framework for microfinance activities in the countries analyzed. The main conclusion that can be drawn is that despite the very varied nature of the initiatives pursued, one common element observed in all the countries surveyed is the role played by commercial banks in MF development. Nevertheless, note should be taken of the direct and indirect role played by the state in encouraging the involvement of the financial sector as the leading provider of MF, a role that is in general based on criteria of selfsustainability and commercial practices.
|Item Type:||MPRA Paper|
|Original Title:||Public Policy on Microfinance in South America|
|English Title:||Public Policy on Microfinance in South America|
|Keywords:||Microfinance, Public policies|
|Subjects:||H - Public Economics > H5 - National Government Expenditures and Related Policies
G - Financial Economics > G2 - Financial Institutions and Services > G21 - Banks; Depository Institutions; Micro Finance Institutions; Mortgages
|Depositing User:||Miguel Delfiner|
|Date Deposited:||11. Oct 2010 02:47|
|Last Modified:||12. Feb 2013 21:43|
CGAP: "Access for all–Building inclusive financial systems"
World Bank (2007): Augusto de la Torre, Juan Carlos Gozzi Sergio L.Schmukler: “Innovative Experiences in Access to Finance: Market Friendly Roles for the Visible Hand?”
Economist Intelligence Unit: “Microscope on the Microfinance Business Environment in Latin America and the Caribbean 2008”
Delfiner, Pailhé y Perón: “Microfinanzas: un análisis de experiencias y alternativas de regulación"