This paper presents an empirical analysis of the significance of operational efficiency on MFIs operating costs using both a cross-section and a balanced panel data approach. Using a sample of 750 microfinance institutions operating in Asia, Latin America and Sub-Saharan Africa, the analysis...

The empirical literature over the past decade has often addressed the issue of operational efficiency within microfinance institutions. This paper extends Arnone, Bellavite Pellegrini and Messa (2010), which recognized the importance of strictly financial aspects of MFIs, nearing them to the...