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dc.contributor.authorSchmidt, Reinhard H.en_US
dc.date.accessioned2008-12-15en_US
dc.date.accessioned2010-07-15T12:57:25Z-
dc.date.available2010-07-15T12:57:25Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/36636-
dc.description.abstractThis paper discusses the so-called commercial approach to microfinance under economic and ethical aspects. It first shows how microfinance has developed from a purely welfare-oriented activity to a commercially relevant line of banking business. The background of this stunning success is the almost universal adoption of the so-called commercial approach to microfinance in the course of the last decade. As the author argues, this commercial approach is the only sound approach to adopt if one wanted microfinance to have any social and developmental impact, and therefore the wide-spread moralistic” criticism of the commercial approach, which has again and again been expressed in the 1990s, is ill-placed from an economic and an ethical perspective. However, some recent events in microfinance raise doubts as to whether the commercial approach has not, in a number of cases, gone too far. The evident example for such a development is the Mexican microfinance institution Compartamos, which recently undertook a financially extremely successful IPO. As it seems, some microfinance institutions have by now become so radically commercial that all of those social and development considerations, which have traditionally motivated work in the field of microfinance, seem to have lost their importance. Thus there is a conflict between commercial and developmental aspirations. However, this conflict is not inevitable. The paper concludes by showing that, and how, a microfinance institution can try to combine using the strengths of the capital market and at the same time maintaining its developmental focus and importance.en_US
dc.language.isoengen_US
dc.publisherUniv., Fachbereich Wirtschaftswiss. Frankfurt am Mainen_US
dc.relation.ispartofseriesWorking paper series // Johann-Wolfgang-Goethe-Universität Frankfurt am Main, Fachbereich Wirtschaftswissenschaften Finance & accounting 194en_US
dc.subject.jelA13en_US
dc.subject.jelD63en_US
dc.subject.jelF35en_US
dc.subject.jelO16en_US
dc.subject.ddc330en_US
dc.subject.keywordDevelopment Financeen_US
dc.subject.keywordMicrofinanceen_US
dc.subject.keywordCommercialisationen_US
dc.subject.keywordIPOen_US
dc.subject.keywordBusiness Ethicsen_US
dc.subject.stwMikrofinanzierungen_US
dc.subject.stwEntwicklungsfinanzierungen_US
dc.subject.stwKommerzialisierungen_US
dc.subject.stwBankgeschäften_US
dc.subject.stwUnternehmensethiken_US
dc.subject.stwSozialethiken_US
dc.subject.stwWelten_US
dc.titleMicrofinance, commercialisation and ethicsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn587978678en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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