Microfinance institutions, banking, growth and transmission channel: a GMM panel data analysis from developping countries
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- handle: 10670/1.mqxk6w
- hal: hal-02888281
- doi: 10.1016/j.qref.2020.06.004
- PII: S1062-9769(20)30078-8
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info:eu-repo/semantics/altIdentifier/doi/10.1016/j.qref.2020.06.004
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Mots-clés
Microfinance Bank Growth C - Mathematical and Quantitative Methods/C.C5 - Econometric Modeling/C.C5.C51 - Model Construction and Estimation G - Financial Economics/G.G2 - Financial Institutions and Services/G.G2.G21 - Banks • Depository Institutions • Micro Finance Institutions • Mortgages O - Economic Development, Innovation, Technological Change, and Growth/O.O4 - Economic Growth and Aggregate Productivity/O.O4.O43 - Institutions and GrowthSujets proches
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Jean Michel Banto et al., « Microfinance institutions, banking, growth and transmission channel: a GMM panel data analysis from developping countries », HAL-SHS : économie et finance, ID : 10.1016/j.qref.2020.06.004
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Résumé
This paper aims to analyse the statistical significance of MFIs’ and banks’ performance on economic development through a GMM panel analysis between 1999 to 2016. Our main contributions to previous literature are twofold. Firstly, we consider a greater variety of indicators to capture different aspects of the banks’ and MFIs’ performance. Secondly, besides traditional channels of transmission such as investment and human capital, we account for an important potential transmission channel, which is consumption. We mainly find that despite their relatively small size, MFIs’ performance contributes to economic development even when banks’ performance is taken into account. Furthermore, our results suggest that by improving their social and financial performance, MFIs increase investment and consumption. Especially, we show that women use their loans to consume rather than to invest. Finally, we also find that banks’ performance improves GDP per capita through investment, consumption and human capital.