Cull, Robert; Demirgüç-Kunt, Asli; Morduch, Jonathan - In: Journal of Financial Services Research 46 (2014) 1, pp. 1-53
We combine two datasets to examine whether the presence of banks affects the profitability and outreach of microfinance institutions. We find evidence that competition matters. Greater bank penetration in the overall economy is associated with microbanks pushing toward poorer markets, as...