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The social and financial efficiency of microfinance institutions: the case of Bosnia and Herzegovina

The social and financial efficiency of microfinance institutions: the case of Bosnia and Herzegovina REFERENCESAnneWelle-Strand, Kjøllesdal, K. and Sitter, N. (2010). Assessing Microfinance: The Bosnia and Herzegovina Case. Managing Global Transitions, 8 (2), 145-166.Anayiotos, G., Toroyan, H. and Vamvakidis, A. (2010). The Efficiency of Emerging Europea’s Banking Sector Before and After Recent Economic Crisis, Financial Theory and Practice, 34 (3) 247-267.Balkenhol, B. (2007). Efficiency and Sustainability in Microfinance. In B. Balkenhol (Ed.), Microfinance and Public Policy: Outreach, Performance and Efficiency, 3–23, Basingstoke: Palgrave Macmillan.Banker, R. D. and Natarajan, R. (2008). Evaluating Contextual Variables Affecting Productivity Using Data Envelopment Analysis. Operations Research, 56(1), 48-58. doi: 10.1287/opre.1070.046010.1287/opre.1070.0460Banker, R. D., Charnes, A. and Cooper, W. W. (1984). Some Models for Estimating Technical and Scale Inefficiencies in Data Envelopment Analysis. Management Science, 30(9), 1078-1092. doi: 10.1287/mnsc.30.9.107810.1287/mnsc.30.9.1078Bassem, B. S. (2008). Efficiency of Microfinance Institutions in the Mediterranean: An Application of DEA. Transition Studies Review, 15(2), 343-354. doi: 10.1007/s11300-008-0012-710.1007/s11300-008-0012-7Berryman, M. and Pytkowska, J. (2014). A Review of the Bosnian Microfinance Sector: Move to Financial Self-Sufficiency. Microfinance Centre for Central and Eastern Europe and the New Independent States, and Microfinance information exchange.Berger, A. N. and Humphrey, D. B. (1997). Efficiency of Financial Institutions: International Survey and Directions for Future Research. European Journal of Operational Research, 98, 175–212.10.1016/S0377-2217(96)00342-6Bogetoft, P. and Otto, L. (2010). Benchmarking with DEA, SFA, and R. New York, NY: Springer Science Business Media.Casu, B. and Molyneux, P. (2003). A comparative study of efficiency in European banking. Applied Economics, 35(17), 1865-1876. doi: 10.1080/000368403200015810910.1080/0003684032000158109Charnes, A., Cooper, W. and Rhodes, E. (1979). Measuring the efficiency of decision-making units. European Journal of Operational Research, 3(4), 339. doi: 10.1016/0377-2217(79)90229-710.1016/0377-2217(79)90229-7Chaves, R. A. and Gonzalez-Vega, C. (1996). The design of successful rural financial intermediaries: Evidence from Indonesia. World Development, 24(1), 65-78. doi10.1016/0305-750x(95)00114-r10.1016/0305-750X(95)00114-RCoelli, T. J., Rao, D. S. P., O’Donnell, C. J. and Batesse, G. E. (2005). An Introduction to Efficiency and Productivity Analysis (2nd ed.). New York: Springer Science Business Media.Cook, W. D. and Seiford, L. M. (2009). Data envelopment analysis (DEA) – Thirty years on. European Journal of Operational Research, 192(1), 1-17. doi: 10.1016/j.ejor.2008.01.03210.1016/j.ejor.2008.01.032Cooper, W. W., Seiford, L. M. and Zhu, J. (2011). Handbook on data envelopment analysis. Boston: Springer10.1007/978-1-4419-6151-8Cooper, W. W., Tone, K. and Seiford, L. M. (2006). Introduction to Data Envelopment Analysis and Its Uses: With DEA-Solver Software and References. Boston: Springer.Cull, R., Demirguc-Kunt, A. and Morduch, J. (2009). “Microfinance Meets the Market.” Journal of Economic Perspectives, 23(1): 167-92. doi: 10.1257/jep.23.1.16710.1257/jep.23.1.167Di Bella, G. (2011). The Impact of the Global Financial Crisis on Microfinance and Policy Implications, IMF WP No. 11/175, IMFEfendic, V. (2014). Efikasnost banaka u Jugoistocnoj Evropi s posebnim osvrtom na Bosnu i Hercegovinu. Sarajevo: Ekonomski fakultet Sarajevo.Efendic, V. and Hadzic, F. (2017). Business Model and Operational Efficiency of Microfinance in Bosnia and Herzegovina: Lessons for Islamic Microfinance, Chapter 9th, Critical Issues and Challenges in Islamic Economics and Finance Development. Palgrave Macmillan. 191-211.Emrouznejad, A. and Yang, G. (2017). A survey and analysis of the first 40 years of scholarly literature in DEA: 1978–2016. Socio-Economic Planning Sciences, 1-5. doi: 10.1016/j.seps.2017.01.00810.1016/j.seps.2017.01.008Ernst&Young. (2014). Challenges in Microfinance: and EY perspective. EY.Evanoff, D. D. and Israilevich, P. R., (1991). Productive efficiency in banking. Economic Perspectives(Federal Reserve Bank of Chicago), 11-32.Fanchon, P. (2003). Variable selection for dynamic measures of efficiency in the computer industry. International Advances in Economic Research, 9(3), 175-188. doi: 10.1007/bf0229544110.1007/BF02295441Flückiger, Y. and Vassiliev, A. (2007). Efficiency in Microfinance Institutions: An Application of Data Envelopment Analysis to MFIs in Peru. Microfinance and Public Policy, 89-110. doi: 10.1057/9780230300026610.1057/97802303000266Grigorian, D. A. and Manole, V. (2006). Determinants of Commercial Bank Performance in Transition: An Application of Data Envelopment Analysis. Comparative Economic Studies, 48(3), 497-522. doi: 10.1057/palgrave.ces.810012910.1057/palgrave.ces.8100129Gutiérrez-Nieto, B., Serrano-Cinca, C. and Molinero, C. M. (2007). Microfinance institutions and efficiency. Omega, 35(2), 131-142. doi: 10.1016/j.omega.2005.04.00110.1016/j.omega.2005.04.001Haq, M., Skully, M. and Pathan, S. (2009). Efficiency of Microfinance Institutions: A Data Envelopment Analysis. Asia-Pacific Financial Markets, 17(1), 63-97. doi: 10.1007/s10690-009-9103-710.1007/s10690-009-9103-7Hassan, K. M. and Sanchez, B. (2009). Efficiency Analysis of Microfinance Institutions in Developing Countries. SSRN Electronic Journal. doi: 10.2139/ssrn.149223810.2139/ssrn.1492238Hassan, M. K. and Tufte, D. R. (2001). The X-Efficiency of a Group-Based Lending Institution: The Case of the Grameen Bank. World Development, 29(6), 1071-1082. doi: 10.1016/s0305-750x(01)00014-610.1016/s0305-750x(01)00014-6Hassan, M. K., Sanchez, B. and Ngene, G. (2012). SCALEs and technical efficiencies in Middle East and North African (MENA) micro financial institutions. International Journal of Islamic and Middle Eastern Finance and Management, 5(2), 157-170. doi: 10.1108/1753839121123343410.1108/17538391211233434Jenkins, L. and Anderson, M. (2003). A multivariate statistical approach to reducing the number of variables in data envelopment analysis. European Journal of Operational Research, 147(1), 51-61. doi: 10.1016/s0377-2217(02)00243-610.1016/s0377-2217(02)00243-6Kipesha, E. (2012). Efficiency of Microfinance Institution in East Africa: DEA. European Journal of Business and Management, 4(17) 77-88.Krauss, A., Meyer, J. and Pytkowska, J. (2013). The Level of Indebtedness of MSME Credit Customers and Quality of Finance in Bosnia and Herzegovina. Retrieved from Microfinance Gateway:http://www.mfc.org.pl/sites/mfc.org.pl/files/efse_df_indebtedness_study_2013_in_bih_summary_paper.pdf. 30.07.2016.Lebovics, M., Hermes, N. and Hudon, M. (2016). Are Financial and Social Efficiency Mutually Exclusive? A Case Study of Vietnamese Microfinance Institutions. Annals of Public and Cooperative Economics, 87(1), 55-77. doi: 10.1111/apce.1208510.1111/apce.12085Lindh de Montoya, M. and McNeil, J. (2003). Microcredit Organizations and Savings Mobilization in Bosnia and Herzegovina. FSBAT assessment for USAID.Littlefield, E. and Kneiding, C. (2009). The Global Financial Crisis and Its Impact on Microfinance. CGAP.Mester, L. J. (1996). A study of bank efficiency taking into account risk-preferences. Journal of Banking & Finance, 20(6), 1025-1045. doi: 10.1016/0378-4266(95)00047-x10.1016/0378-4266(95)00047-xMFC (Microfinance Center) (2008). Access of Low Income Households to Financial Services in BiH. Microfinance Center.Milford, B., Sinkovic, D. and Skare, M. (2012). The contribution of the microfinance model to Bosnia’s post-war reconstruction and development: how to destroy and economy and society without really trying. Austrian Foundation for Development Research (Ofse), 36MIX Market, AMFI. (2009). Bosnia and Herzegovina Microfinance Analysis and Benchmarking Report 2008. Retrieved from THE MIX: https://www.themix.org/sites/default/files/publications/Bosnia%20and%20Herzegovina%20Microfinance%20Analysis%20and%20Benchmarking%20Report%202008_0.pdf. 29.07.2016.Mohd Tahir, I. and Nurzahira Che Tahrim, S. (2013). Efficiency Analysis of Microfinance Institutions in ASEAN: A DEA Approach. Business Management Dynamics, 3(4), 13-23.Morduch, J. (2000). The Microfinance Schism. World Development, 28(4), 617-629. doi: 10.1016/s0305-750x(99)00151-510.1016/s0305-750x(99)00151-5Parkin, M. (2012). Microeconomics (10th ed.) Pearson Education.Pedraja-Chaparro, F., Salinas-Jimenez, J. and Smith, P. (1999). On the Quality of the Data Envelopment Analysis Model. The Journal of the Operational Research Society, 50(6), 636-644. doi: 10.2307/301062010.2307/3010620Ramanathan, R. (2003). An Introduction to data envelopment analysis: A tool for performance measurement. SAGE Publications, New Delhi.Schmidt, P. and Sickles, R. C. (1984). Production Frontiers and Panel Data. Journal of Business & Economic Statistics, 2(4), 367-374. doi: 10.1080/07350015.1984.1050941010.1080/07350015.1984.10509410Sedzro, K. and Keita, M. (2009) Assessing the Efficiency of Microfinance Institutions Using Data Envelopment Analysis. Journal of International Finance & Economics, 9, 54-67.Seiford, M. L., Tone, K. and Cooper, W. W. (2007). Data Envelopment Analysis: A Comprehensive Text with Models, Applications, Referenced and DEA-Solver Software. Springer.Serrano-Cinca, C., Gutiérrez-Nieto, B. and Molinero, C. M. (2009). Social Efficiency in Microfinance Institutions. Journal of The Operational Research Society, 60 (19), 104-119Tucker, M. (2001). Financial performance of selected Microfinance institutions. Journal of Microfinance, 3(2), 107-123.World Bank (2012). Diagnostic Review of Consumer Protection in the Microfinance Sector. World Bank Resources.World Bank (2005). Retrieved from WB Site sources: http://siteresources.worldbank.org/INTBOSNIAHERZ/Resources/LIP2.pdf 14.06.2016.WB Resources. (2001). Innovative Approaches to Microfinance in Post-Conflict Situations: Bosnia Local Initiatives Project. Retrieved from Site Resources WB: http://siteresources.worldbank.org/INTRANETSOCIALDEVELOPMENT/873351-1111664103368/20489583/sdn50-Bosnia.pdf. 24.06.2016.Widiarto, I. and Emrouznejad, A. (2015). Social and financial efficiency of Islamic microfinance institutions: A Data Envelopment Analysis application. Socio-Economic Planning Sciences, 50, 1-17. doi: 10.1016/j.seps.2014.12.00110.1016/j.seps.2014.12.001Wijesiri, M., Viganò, L. and Meoli, M. (2015). Efficiency of microfinance institutions in Sri Lanka: a two-stage double bootstrap DEA approach. Economic Modelling, 47, 74-83. doi: 10.1016/j.econmod.2015.02.01610.1016/j.econmod.2015.02.016Yaron, J. (1994). What Makes Rural Finance Institutions Successful? The World Bank Research Observer, 9(1), 49-70. doi: 10.1093/wbro/9.1.4910.1093/wbro/9.1.49Zeller, M., Sharma, M., Henry, C. and Lapenu, C. (2006). An operational method for assessing the poverty outreach performance of development policies and projects: Results of case studies in Africa, Asia, and Latin America. World Development, 34(3), 446-464. doi: 10.1016/j.worlddev.2005.07.02010.1016/j.worlddev.2005.07.020 http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png South East European Journal of Economics and Business de Gruyter

The social and financial efficiency of microfinance institutions: the case of Bosnia and Herzegovina

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de Gruyter
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© 2017 South East European Journal of Economics and Business
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2233-1999
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Abstract

REFERENCESAnneWelle-Strand, Kjøllesdal, K. and Sitter, N. (2010). Assessing Microfinance: The Bosnia and Herzegovina Case. Managing Global Transitions, 8 (2), 145-166.Anayiotos, G., Toroyan, H. and Vamvakidis, A. (2010). The Efficiency of Emerging Europea’s Banking Sector Before and After Recent Economic Crisis, Financial Theory and Practice, 34 (3) 247-267.Balkenhol, B. (2007). Efficiency and Sustainability in Microfinance. In B. Balkenhol (Ed.), Microfinance and Public Policy: Outreach, Performance and Efficiency, 3–23, Basingstoke: Palgrave Macmillan.Banker, R. D. and Natarajan, R. (2008). Evaluating Contextual Variables Affecting Productivity Using Data Envelopment Analysis. Operations Research, 56(1), 48-58. doi: 10.1287/opre.1070.046010.1287/opre.1070.0460Banker, R. D., Charnes, A. and Cooper, W. W. (1984). Some Models for Estimating Technical and Scale Inefficiencies in Data Envelopment Analysis. Management Science, 30(9), 1078-1092. doi: 10.1287/mnsc.30.9.107810.1287/mnsc.30.9.1078Bassem, B. S. (2008). Efficiency of Microfinance Institutions in the Mediterranean: An Application of DEA. Transition Studies Review, 15(2), 343-354. doi: 10.1007/s11300-008-0012-710.1007/s11300-008-0012-7Berryman, M. and Pytkowska, J. (2014). A Review of the Bosnian Microfinance Sector: Move to Financial Self-Sufficiency. Microfinance Centre for Central and Eastern Europe and the New Independent States, and Microfinance information exchange.Berger, A. N. and Humphrey, D. B. (1997). Efficiency of Financial Institutions: International Survey and Directions for Future Research. European Journal of Operational Research, 98, 175–212.10.1016/S0377-2217(96)00342-6Bogetoft, P. and Otto, L. (2010). Benchmarking with DEA, SFA, and R. New York, NY: Springer Science Business Media.Casu, B. and Molyneux, P. (2003). A comparative study of efficiency in European banking. Applied Economics, 35(17), 1865-1876. doi: 10.1080/000368403200015810910.1080/0003684032000158109Charnes, A., Cooper, W. and Rhodes, E. (1979). Measuring the efficiency of decision-making units. European Journal of Operational Research, 3(4), 339. doi: 10.1016/0377-2217(79)90229-710.1016/0377-2217(79)90229-7Chaves, R. A. and Gonzalez-Vega, C. (1996). The design of successful rural financial intermediaries: Evidence from Indonesia. World Development, 24(1), 65-78. doi10.1016/0305-750x(95)00114-r10.1016/0305-750X(95)00114-RCoelli, T. J., Rao, D. S. P., O’Donnell, C. J. and Batesse, G. E. (2005). An Introduction to Efficiency and Productivity Analysis (2nd ed.). New York: Springer Science Business Media.Cook, W. D. and Seiford, L. M. (2009). Data envelopment analysis (DEA) – Thirty years on. European Journal of Operational Research, 192(1), 1-17. doi: 10.1016/j.ejor.2008.01.03210.1016/j.ejor.2008.01.032Cooper, W. W., Seiford, L. M. and Zhu, J. (2011). Handbook on data envelopment analysis. Boston: Springer10.1007/978-1-4419-6151-8Cooper, W. W., Tone, K. and Seiford, L. M. (2006). Introduction to Data Envelopment Analysis and Its Uses: With DEA-Solver Software and References. Boston: Springer.Cull, R., Demirguc-Kunt, A. and Morduch, J. (2009). “Microfinance Meets the Market.” Journal of Economic Perspectives, 23(1): 167-92. doi: 10.1257/jep.23.1.16710.1257/jep.23.1.167Di Bella, G. (2011). The Impact of the Global Financial Crisis on Microfinance and Policy Implications, IMF WP No. 11/175, IMFEfendic, V. (2014). Efikasnost banaka u Jugoistocnoj Evropi s posebnim osvrtom na Bosnu i Hercegovinu. Sarajevo: Ekonomski fakultet Sarajevo.Efendic, V. and Hadzic, F. (2017). Business Model and Operational Efficiency of Microfinance in Bosnia and Herzegovina: Lessons for Islamic Microfinance, Chapter 9th, Critical Issues and Challenges in Islamic Economics and Finance Development. Palgrave Macmillan. 191-211.Emrouznejad, A. and Yang, G. (2017). A survey and analysis of the first 40 years of scholarly literature in DEA: 1978–2016. Socio-Economic Planning Sciences, 1-5. doi: 10.1016/j.seps.2017.01.00810.1016/j.seps.2017.01.008Ernst&Young. (2014). Challenges in Microfinance: and EY perspective. EY.Evanoff, D. D. and Israilevich, P. R., (1991). Productive efficiency in banking. Economic Perspectives(Federal Reserve Bank of Chicago), 11-32.Fanchon, P. (2003). Variable selection for dynamic measures of efficiency in the computer industry. International Advances in Economic Research, 9(3), 175-188. doi: 10.1007/bf0229544110.1007/BF02295441Flückiger, Y. and Vassiliev, A. (2007). Efficiency in Microfinance Institutions: An Application of Data Envelopment Analysis to MFIs in Peru. Microfinance and Public Policy, 89-110. doi: 10.1057/9780230300026610.1057/97802303000266Grigorian, D. A. and Manole, V. (2006). Determinants of Commercial Bank Performance in Transition: An Application of Data Envelopment Analysis. Comparative Economic Studies, 48(3), 497-522. doi: 10.1057/palgrave.ces.810012910.1057/palgrave.ces.8100129Gutiérrez-Nieto, B., Serrano-Cinca, C. and Molinero, C. M. (2007). Microfinance institutions and efficiency. Omega, 35(2), 131-142. doi: 10.1016/j.omega.2005.04.00110.1016/j.omega.2005.04.001Haq, M., Skully, M. and Pathan, S. (2009). Efficiency of Microfinance Institutions: A Data Envelopment Analysis. Asia-Pacific Financial Markets, 17(1), 63-97. doi: 10.1007/s10690-009-9103-710.1007/s10690-009-9103-7Hassan, K. M. and Sanchez, B. (2009). Efficiency Analysis of Microfinance Institutions in Developing Countries. SSRN Electronic Journal. doi: 10.2139/ssrn.149223810.2139/ssrn.1492238Hassan, M. K. and Tufte, D. R. (2001). The X-Efficiency of a Group-Based Lending Institution: The Case of the Grameen Bank. World Development, 29(6), 1071-1082. doi: 10.1016/s0305-750x(01)00014-610.1016/s0305-750x(01)00014-6Hassan, M. K., Sanchez, B. and Ngene, G. (2012). SCALEs and technical efficiencies in Middle East and North African (MENA) micro financial institutions. International Journal of Islamic and Middle Eastern Finance and Management, 5(2), 157-170. doi: 10.1108/1753839121123343410.1108/17538391211233434Jenkins, L. and Anderson, M. (2003). A multivariate statistical approach to reducing the number of variables in data envelopment analysis. European Journal of Operational Research, 147(1), 51-61. doi: 10.1016/s0377-2217(02)00243-610.1016/s0377-2217(02)00243-6Kipesha, E. (2012). Efficiency of Microfinance Institution in East Africa: DEA. European Journal of Business and Management, 4(17) 77-88.Krauss, A., Meyer, J. and Pytkowska, J. (2013). The Level of Indebtedness of MSME Credit Customers and Quality of Finance in Bosnia and Herzegovina. Retrieved from Microfinance Gateway:http://www.mfc.org.pl/sites/mfc.org.pl/files/efse_df_indebtedness_study_2013_in_bih_summary_paper.pdf. 30.07.2016.Lebovics, M., Hermes, N. and Hudon, M. (2016). Are Financial and Social Efficiency Mutually Exclusive? A Case Study of Vietnamese Microfinance Institutions. Annals of Public and Cooperative Economics, 87(1), 55-77. doi: 10.1111/apce.1208510.1111/apce.12085Lindh de Montoya, M. and McNeil, J. (2003). Microcredit Organizations and Savings Mobilization in Bosnia and Herzegovina. FSBAT assessment for USAID.Littlefield, E. and Kneiding, C. (2009). The Global Financial Crisis and Its Impact on Microfinance. CGAP.Mester, L. J. (1996). A study of bank efficiency taking into account risk-preferences. Journal of Banking & Finance, 20(6), 1025-1045. doi: 10.1016/0378-4266(95)00047-x10.1016/0378-4266(95)00047-xMFC (Microfinance Center) (2008). Access of Low Income Households to Financial Services in BiH. Microfinance Center.Milford, B., Sinkovic, D. and Skare, M. (2012). The contribution of the microfinance model to Bosnia’s post-war reconstruction and development: how to destroy and economy and society without really trying. Austrian Foundation for Development Research (Ofse), 36MIX Market, AMFI. (2009). Bosnia and Herzegovina Microfinance Analysis and Benchmarking Report 2008. Retrieved from THE MIX: https://www.themix.org/sites/default/files/publications/Bosnia%20and%20Herzegovina%20Microfinance%20Analysis%20and%20Benchmarking%20Report%202008_0.pdf. 29.07.2016.Mohd Tahir, I. and Nurzahira Che Tahrim, S. (2013). Efficiency Analysis of Microfinance Institutions in ASEAN: A DEA Approach. Business Management Dynamics, 3(4), 13-23.Morduch, J. (2000). The Microfinance Schism. World Development, 28(4), 617-629. doi: 10.1016/s0305-750x(99)00151-510.1016/s0305-750x(99)00151-5Parkin, M. (2012). Microeconomics (10th ed.) Pearson Education.Pedraja-Chaparro, F., Salinas-Jimenez, J. and Smith, P. (1999). On the Quality of the Data Envelopment Analysis Model. The Journal of the Operational Research Society, 50(6), 636-644. doi: 10.2307/301062010.2307/3010620Ramanathan, R. (2003). An Introduction to data envelopment analysis: A tool for performance measurement. SAGE Publications, New Delhi.Schmidt, P. and Sickles, R. C. (1984). Production Frontiers and Panel Data. Journal of Business & Economic Statistics, 2(4), 367-374. doi: 10.1080/07350015.1984.1050941010.1080/07350015.1984.10509410Sedzro, K. and Keita, M. (2009) Assessing the Efficiency of Microfinance Institutions Using Data Envelopment Analysis. Journal of International Finance & Economics, 9, 54-67.Seiford, M. L., Tone, K. and Cooper, W. W. (2007). Data Envelopment Analysis: A Comprehensive Text with Models, Applications, Referenced and DEA-Solver Software. Springer.Serrano-Cinca, C., Gutiérrez-Nieto, B. and Molinero, C. M. (2009). Social Efficiency in Microfinance Institutions. Journal of The Operational Research Society, 60 (19), 104-119Tucker, M. (2001). Financial performance of selected Microfinance institutions. Journal of Microfinance, 3(2), 107-123.World Bank (2012). Diagnostic Review of Consumer Protection in the Microfinance Sector. World Bank Resources.World Bank (2005). Retrieved from WB Site sources: http://siteresources.worldbank.org/INTBOSNIAHERZ/Resources/LIP2.pdf 14.06.2016.WB Resources. (2001). Innovative Approaches to Microfinance in Post-Conflict Situations: Bosnia Local Initiatives Project. Retrieved from Site Resources WB: http://siteresources.worldbank.org/INTRANETSOCIALDEVELOPMENT/873351-1111664103368/20489583/sdn50-Bosnia.pdf. 24.06.2016.Widiarto, I. and Emrouznejad, A. (2015). Social and financial efficiency of Islamic microfinance institutions: A Data Envelopment Analysis application. Socio-Economic Planning Sciences, 50, 1-17. doi: 10.1016/j.seps.2014.12.00110.1016/j.seps.2014.12.001Wijesiri, M., Viganò, L. and Meoli, M. (2015). Efficiency of microfinance institutions in Sri Lanka: a two-stage double bootstrap DEA approach. Economic Modelling, 47, 74-83. doi: 10.1016/j.econmod.2015.02.01610.1016/j.econmod.2015.02.016Yaron, J. (1994). What Makes Rural Finance Institutions Successful? The World Bank Research Observer, 9(1), 49-70. doi: 10.1093/wbro/9.1.4910.1093/wbro/9.1.49Zeller, M., Sharma, M., Henry, C. and Lapenu, C. (2006). An operational method for assessing the poverty outreach performance of development policies and projects: Results of case studies in Africa, Asia, and Latin America. World Development, 34(3), 446-464. doi: 10.1016/j.worlddev.2005.07.02010.1016/j.worlddev.2005.07.020

Journal

South East European Journal of Economics and Businessde Gruyter

Published: Dec 1, 2017

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