Introduction
Efficiency and sustainability in microfinance / Bernd Balkenhol
Promise and achievements
Efficiency in the microfinance literature
Efficiency: The concept
Applicability of efficiency concepts in microfinance
Efficiency versus financial Sustainability
Structure of the book
Conceptual framework
Poverty versus inequality / Amadou Diop, Isabelle Hillenkamp, Jean Michel Servet
Introduction
Defining and measuring poverty
How microfinance can help reduce poverty
Poverty reduction and financial performance
Can microfinance reach the poor?
The harmful side effects: Increased disparities
Poverty reduction through microfinance: a capability perspective / Flavio Comim
Introduction
Who are the poor? What are the issues?
Positive mechanisms
Negative mechanisms
A capability perspective
Achieving poverty outreach, impact and sustainability: managing trade-offs in microfinance / Anton Simanowitz
Introduction: Combining social and financial objectives
Trade-offs
Managing trade-offs
Conclusions
Smart subsidies / Jonathan Morduch
Introduction Subsidies and microfinance
Valuing subsidies
"Crowding in" and "crowding out"
Conclusions
Empirical analysis
Efficiency in microfinance institutions: an application of data envelopment analysis to MFIs in Peru / Yves Flickiger, Anatoli Vassiliev
Introduction
Previous research on MFIs' performance evaluation
Performance analysis methodology
Data sources and variable construction
Efficiency analysis with the DEA model
Conclusions
Efficiency in financial intermediation: theory and empirical measurement / Thorsten Beck
Introduction
Interest spreads and credit rationing: theory
Interest spreads and credit rationing: cross-country evidence
Decomposing spreads
Explaining spreads
Conclusions and policy lessons
Efficiency drivers and constraints: Empirical findings / Yousra Hamed
Introduction
Methodology
The data
MFI clusters
Performance drivers and constraints
Conclusions
Measuring the performance of MFIs: an application of factor analysis / Giovanni Ferro Luzzii and Sylvain Weber
Introduction
The data
Factor analysis: theory and practice
Cluster analysis
Assessing what determines performance
Conclusions
Selected country studies
Contextual factors determining poverty outreach and financial performance: the case of Mali / Renata Serra, Fabrizio Botti, and Milasoa Cherel-Robson
Introduction
Domestic contextual factors: institutions, state and markets
External factors: the implications of subsidy withdrawal
Conclusion
Contextual factors determining poverty outreach and financial performance: the case of Morocco / Said Filali Meknassi
Introduction
Institutional context
Support by banks
Subsidies
Conclusion
Contextual factors determining poverty outreach and financial performance: the case of Central and Eastern Europe / Jusyna Pytkovwsa
Introduction
Access to resources
Financial performance
Social performance
Auctioning subsidies: Chile's "Access to Credit Program" / Vito Sciaraffia Merino
Introduction
Micro-enterprises in Chile
Has the PAC achieved its goals?
Conclusions
Policy implications / Bernd Balkenhol
Global donor support to microfinance
Weight of subsidies in microfinance
What prompts public policy support to MFIs?
General effects of public policy on efficiency in microfinance at the sectoral level
Support measures affecting the efficiency of individual MFIs
The way forward: how to support the best of class and the others
Annex I : GIAN survey
Annex II. Multivariate analysis and classification: social and financial performance
Annex III. Multivariate analysis and classification: social and financial performance and efficiency
Bibliography
Index.