This study examines the cost efficiency of 39 microfinance institutions across Africa, Asia and the Latin America using non-parametric data envelopment analysis. Our findings show non-governmental microfinance institutions particularly; under production approach, are the most efficient and this...

This paper concentrates on three financial variables in promoting capital accumulation in the two groups of Asian economies. The empirical result shows that the ASEAN economies' financial performance is far less satisfactory than the four Asian NIEs. Considering the experience of the last two...

In the literature of development finance, both the structuralist's "two-gap" approach of Chenery and Strout (1966) and the financialist's "liberalisation" approach of McKinnon (1973) and Shaw (1973) represent the two polar theories for academic research and policy recommendations. Harris (1979)...