par Briere, Marie 
;Szafarz, Ariane
Référence World development, 67, page (110-125)
Publication Publié, 2015-03
;Szafarz, Ariane Référence World development, 67, page (110-125)
Publication Publié, 2015-03
Article révisé par les pairs
| Résumé : | This paper is the first to draw a global picture of worldwide microfinance equity by taking full advantage of daily quoted prices. We revisit previous findings showing that investors should consider microfinance as a self-standing sector. Our results are threefold. First, microfinance has become less risky and more closely correlated with the financial sector. This convergence might be followed by a decline in the proportion of women borrowers. Second, microfinance and finance shares have equivalent currency exposure. Last, introducing a self-standing microfinance sector presents few diversification benefits. This paper confirms that microfinance has changed dramatically during the last decade. |
