• 1 INTRODUCTION
  • 2 THE PERFORMANCE OF MICROLOAN PORTFOLIOS IN TIMES OF FINANCIAL CRISES – A REVIEW OF THE LITERATURE
  • 2.1 Microfinance, traditional banking and financial turbulences – evidence from previous crises in emerging markets
  • 2.2 Crisis-mitigating characteristics of microfinance institutions and borrowers
  • 3 THE 2000s – HOW MICROFINANCE BECAME PART OF THE GLOBAL CREDIT CYCLE
  • 3.1 On the move – microfinance at the beginning of the 21st century
  • 3.2 Credit growth in the pre- and post-Lehman period
  • 3.3 Development of capital inflows from 2005 to 200
  • 3.4 The new boom – bust relationship in microfinance
  • 4 DIFFERENT TARGET GROUPS, SAME RISKS - DOES THE MICROFINANCE SECTOR FACE SIMILAR STABILITY CHALLENGES AS THE TRADITIONAL BANKING SECTOR?
  • 5 CONCLUSION
  • REFERENCES