Global Recession and Microfinance Risk Governance in Developing Countries

Risk Governance and Control Journal, 1, 3, 2011, pp. 17-29

18 Pages Posted: 25 Aug 2015

See all articles by Roberto Moro Visconti

Roberto Moro Visconti

Università Cattolica del Sacro Cuore - Department of Business Administration

Date Written: November 5, 2011

Abstract

Global recession, started in 2008, is still proving an unresolved perfect storm and the financial crisis has affected also the real economy, creating widespread social unrest. Microfinance institutions (MFIs) in developing countries seem however less affected by the worldwide turmoil, due to their segmentation and resilience to external shocks. Recession has a big impact on governance mechanisms, altering the equilibriums among different stakeholders and increasing the risk of investment returns; any governance improvement is highly welcome and recommended. No governance, no money for growth or bare survival. In the confused phase we are living in, at the moment there are not evident winners, but the underbanked poorest, unless properly supported, once again risk being the ultimate losers.

Keywords: Microfinance, governance risk, recession, developing countries

JEL Classification: E32, G01, G21, G32

Suggested Citation

Moro Visconti, Roberto, Global Recession and Microfinance Risk Governance in Developing Countries (November 5, 2011). Risk Governance and Control Journal, 1, 3, 2011, pp. 17-29, Available at SSRN: https://ssrn.com/abstract=2650307

Roberto Moro Visconti (Contact Author)

Università Cattolica del Sacro Cuore - Department of Business Administration ( email )

Largo Agostino Gemelli 1
Milano, 20123
Italy

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