Resilience of Microfinance Institutions to National Macroeconomic Events: An Econometric Analysis of MFI asset quality

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The Vulnerability of Microfinance to Financial Turmoil – Evidence from the Global Financial Crisis (2013, background): “…financial system seemed to isolate microfinance from turmoil in traditional financial sectors (Patten et al. 2001, Krauss and Walter 2009, Gonzalez 2007, Galema et al. 2011).1 As a result, until recently (Basel Committee on Banking Supervision 2010, Dittus and Klein 2011) financial…”
The institutional context of poverty: State fragility as a predictor of cross‐national variation in commercial microfinance lending (2014, background): “Given the relatively stable performance of microfinance in the wake of financial collapses elsewhere (Gonzalez, 2007), investors realized that microfinance remained ‘largely uncorrelated with returns from most other asset classes, [and] would therefore serve as a natural hedge for a typical…”