The paper distinguishes between a 'wider' definition of wider impacts (which takes into account feedbacks from impacts to institutional performance) and a 'narrower' definition, which does not. In respect of both definitions, the paper sets out a typology of the effects which need to be measured...

This paper reviews the achievements of the 'microfinance revolution', through reference to the now extensive literature. It finds that there are many opportunities to improve and innovate. To illustrate this finding, the paper concentrates on examining what we need to know to design and deliver...