Resumen

RAMIREZ ROCHA, Adriana; BERNAL PONCE, L. Arturo  y  CERVANTES ZEPEDA, Mauricio. Differences in the interest rates of microfinance institutions in some markets economies: an HLM approach. Estud. Econ. (México, D.F.) [online]. 2019, vol.34, n.2, pp.275-307. ISSN 0186-7202.

In this study, we analyzed the differences in the interest rates of micro-finance institutions (MFIs) of some countries in Latin America, Africa, Eastern Europe and Asia. We found that the operating expenses are essential drivers of these interest rates. We also found that operating expenses, average loan per borrower, real growth GDP, and govern ment effectiveness, are key factors that explain differences in interest rates. We use apply Hierarchical Linear Modeling (HLM) to analyze these differences.

Palabras llave : microfinance institutions; IMFs interest rates; hierarchical linear modeling; government effectiveness; emerging markets economies; G21; E43; C55.