This paper identifies factors that explain why microfinance institutions are reaching more clients in some countries than in others. To that end, the paper applies a cross-country analysis on a unique dataset covering 115 countries. Results indicate that the microfinance sector is more present...

This paper presents a first set of variables that possibly play a role in the uneven development of the microfinance sector in Latin America. A cross-country regression is applied by using a unique dataset on the outreach of microfinance institutions in the year 2001. Results indicate that...