Microfinance institutions are important, particularly in developing countries, because they expand the frontier of financial intermediation by providing loans to those traditionally excluded from formal financial markets. This paper presents the first systematic statistical examination of the...

Examines the impacts of organizational governance on the outreach capabilities and sustainability of microfinance institutions (MFIs) in Central and Eastern Europe and the Newly Independent States. Microfinance institutions are NGOs, banks, credit cooperatives, or nonbank financial institutions...