It has been commonly acknowledged that in order to reach the target clienteles with loans at attractive terms and conditions, an appropriate technology for delivering financial services must be developed. Next to this, current developments in microfinance industry encourage MFIs to offer...

In this paper we analyze the recent migration wave in Armenia, using household level representative data from 2011. We identify determinants of emigration intentions by estimating a bivariate probit model with endogenous remittances. The key finding is that remittances help potential migrants to...

The microfinance sector is relatively new in Armenia, and has shown significant increase over the last decade. We designed a qualitative research to explore the main characteristic and adaptation strategies of the microfinance sector in this country. Our findings indicate that the emergence of...