Chakravarty, Sugato; Pylypiv, Mariya I. - In: World Development 66 (2015) C, pp. 737-748
We use multilevel analysis to examine the effect of different types of external funding (donations vs. subsidies) on microfinance institutions’ borrower repayment rates. Using information on 947 MFIs over a 10-year period we find that private funding is positively related to MFIs’ abilities...