Table of contents for Microfinance and public policy : outreach, performance and efficiency / edited by Bernd Balkenhol.

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TABLE OF CONTENTS
Foreword
Table of Contents
Acknowledgements
PART I: INTRODUCTION
1. Efficiency and sustainability in microfinance (Bernd Balkenhol)	
1.1 Promise and achievements	
1.2 Efficiency in the microfinance literature	
1.3 Efficiency: The concept	
1.4 Applicability of efficiency concepts in microfinance	
1.5 Efficiency versus financial sustainability	
1.6 Structure of the book	
PART II: CONCEPTUAL FRAMEWORK
2. Poverty versus inequality (Amadou Diop, Isabelle Hillenkamp, Jean Michel Servet)
2.1 Introduction	
2.2 Defining and measuring poverty	
2.3 How microfinance can help reduce poverty	
2.4 Poverty reduction and financial performance	
2.5 Can microfinance reach the poor?	
2.6 The harmful side effects: Increased disparities	
3. Poverty reduction through microfinance: A capability perspective (Flavio Comim)
3.1 Introduction	
3.2 Who are the poor? What are the issues?	
3.3 Positive mechanisms	
3.4 Negative mechanisms	
3.5 A capability perspective
4. Achieving poverty outreach, impact and sustainability: Managing trade-offs in microfinance (Anton Simanowitz)
4.1 Introduction: Combining social and financial objectives
4.2 Trade-offs
4.3 Managing trade-offs
4.4 Conclusions
5. Smart subsidies (Jonathan Morduch)	
5.1 Introduction	
5.2 Subsidies and microfinance	
5.3 Valuing subsidies	
5.4 ?Crowding in? and ?crowding out?	
5.5 Conclusions	
PART III: EMPIRICAL ANALYSIS
6. Efficiency in microfinance institutions: An application of data envelopment analysis to MFIs in Peru (Yves Fl?ckiger, Anatoli Vassiliev)
6.1 Introduction
6.2 Previous research on MFIs? performance evaluation
6.3 Performance analysis methodology
6.4 Data sources and variable construction
6.5 Efficiency analysis with the DEA model
6.6 Conclusions
7. Efficiency in financial intermediation: Theory and empirical measurement (Thorsten Beck)
7.1 Introduction
7.2 Interest spreads and credit rationing: Theory
7.3 Interest spreads and credit rationing: Cross-country evidence	
7.4 Decomposing spreads	
7.5 Explaining spreads	
7.6 Conclusions and policy lessons	
8. Efficiency drivers and constraints: Empirical findings (Yousra Hamed)	
8.1 Introduction
8.2 Methodology	
8.3 The data	
8.4 MFI clusters	
8.5 Performance drivers and constraints	
8.6 Conclusions	
9. Measuring the performance of MFIs: An application of factor analysis (Giovanni Ferro Luzzi and Sylvain Weber)	
9.1 Introduction
9.2 The data
9.3 Factor analysis: Theory and Practice
9.4 Cluster analysis
9.5 Assessing what determines performance
9.6 Conclusions
PART IV: SELECTED COUNTRY STUDIES
10. Contextual factors determining poverty outreach and financial performance: The case of Mali (Renata Serra, Fabrizio Botti, and Milasoa Cherel-Robson)
10.1 Introduction
10.2 Domestic contextual factors: Institutions, state and markets
10.3 External factors: The implications of subsidy withdrawal
10.4 Conclusion
11. Contextual factors determining poverty outreach and financial performance: The case of Morocco (Sa?d Filali Meknassi)
11.1 Introduction
11.2 Institutional context
11.3 Support by banks
11.4 Subsidies	
11.5 Conclusion
12. Contextual factors determining poverty outreach and financial performance: The case of Central and Eastern Europe (Justyna Pytkowska)	
12.1 Introduction	
12.2 Access to resources	
12.3 Financial performance	
12.4 Social performance	
13. Auctioning subsidies: Chile?s ?Access to Credit Program? (Vito Sciaraffia Merino)
13.1 Introduction	
13.2 Micro-enterprises in Chile	
13.3 Has the PAC achieved its goals?
13.4 Conclusions	
PART V: CONCLUSIONS
14. Policy implications (Bernd Balkenhol)
14.1 Global donor support to microfinance
14.2 Weight of subsidies in microfinance	
14.3 What prompts public policy support to MFIs?
14.4 General effects of public policy on efficiency in microfinance at the sectoral level
14.5 Support measures affecting the efficiency of individual MFIs
14.6 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

Library of Congress Subject Headings for this publication:

Microfinance.
Microfinance -- Developing countries -- Case studies.
Poverty -- Developing countries -- Case studies.
Small business -- Developing countries -- Finance -- Case studies.