Microfinance institutions (MFIs) provide a public good; if MFIs create and deepen markets where none existed before, there may be a case for public support. This book is based on a study of 45 MFIs, and applies factor analysis and cluster analysis to show that MFIs form clusters in terms of social and financial performance.

THORSTEN BECK World Bank, USA FABRIZIO BOTTI Cambridge University, UK MILASOA CHEREL-ROBSON Cambridge University, UK FLAVIO COMIM Cambridge University, UK AMADOU DIOP Institut Universitaire d'Etudes du Developpement, Switzerland YVES FLÜCKIGER University of Geneva, Switzerland YOUSRA HAMED International Labour Office, Switzerland ISABELLE HILLENKAMP Institut Universitaire d'Etudes du Developpement, Switzerland GIOVANNI FERRO LUZZI University of Geneva, Switzerland SAÂD FILALI MEKNASSI Université Mohamed V - Rabat Agdal, Morocco VITO SCIARAFFIA MERINO University of Chile, Chile JONATHAN MORDUCH New York University, USA JUSTYNA PYTKOWSKA Microfinance Centre, Poland RENATA SERRA Cambridge University, UK JEAN MICHEL SERVET Institut Universitaire d'Etudes du Developpement, Switzerland ANTON SIMANOWITZ Institute of Development Studies, Sussex, UK ANATOLI VASSILIEV University of Geneva, Switzerland SYLVAIN WEBER University of Geneva, Switzerland