Handbook of Microfinance, Financial Inclusion and Development

Edited by Valentina Hartarska, Department of Agricultural Economics and Rural Sociology, and Department of Finance, Auburn University, US and Robert Cull, Development Research Group, The World Bank, US

• Contents: PART I INTRODUCTION1 Overview of microfinance, financial inclusion, and development 2Robert Cull and Valentina HartarskaPART II CONCEPTUAL FRAMEWORKS FOR MICROFINANCE,FINANCIAL INCLUSION, AND DEVELOPMENT2 Rethinking poverty, household finance, and microfinance 21Jonathan Morduch3 Assessment of microfinance institutions and their impact: evidence froma scientometric study 41Begoña Gutiérrez-Nieto and Carlos Serrano-Cinca4 Financial inclusion and gender 66Isabelle Guérin5 Toward a theory of fair interest rates on microcredit: balancing the needsof clients and institutions 83Marek Hudon and Joakim Sandberg6 Resilience in emergencies, savings, and credit 99Saniya Ansar, Jake Hess, and Leora Klapper7 When is financial education successful? Taking stock of the new waveof field evidence 119Bilal ZiaPART III DELIVERING FINANCIAL SERVICES TO CLIENTS8 Group lending in theory and practice 135Christian Ahlin and Godwin Debrah9 Alternative delivery channels and impacts: agent banking 150Sinja Buri, Robert Cull, and Xavier Giné10 Digital financial inclusion and development 164Greta Bull and Leora Klapper11 Building inclusive value chains for smallholders: the role of finance 181Alan de Brauw and Johan Swinnen12 Index insurance for developing countries: a primer 194Mario J. Miranda and Denis NadolnyakPART IV VIEW FROM PRACTITIONERS AND FUNDERS13 Measuring the evolution of client vulnerability: innovation atthe BBVA Microfinance Foundation 212Claudio Gonzalez-Vega, Laura Mo, and Giovanni di Placido14 An investor’s perspective on measuring and managing socialperformance and impact 248Gregor Dorfleitner, Dina Pons, and Noémie RenierPART V EVIDENCE FROM REGIONS AND COUNTRIES15 Financial inclusion in high-income countries: gender gap or poverty trap? 272Anastasia Cozarenco and Ariane Szafarz16 Financial literacy and the use of financial services by US households 297James R. Barth, Valentina Hartarska, Jitka Hilliard, and Nguyen Nguyen17 Financial inclusion, microfinance, and financial education in Latin America 316Alejandro Javier Micco Aguayo and Patricio Andrés Valenzuela Aros18 Gender and financial inclusion in Latin America and the Caribbean 339Victor Motta19 Inclusive finance and agricultural development in Africa 357Calum G. Turvey and Apurba Shee20 Evaluating digital financial inclusion: a Kenyan perspective on moralityand finance 383Susan Johnson and Silvia Storchi21 Inclusive finance and inclusive rural transformation in China 402Calum G. Turvey22 Does microfinance cause banking sector development and economicgrowth? An application to Mongolia 425Batkhuyag Myagmar, Robert Lensink, and Wim Heijman23 Financial inclusion and poverty: evidence from Armenia 449Aleksandr Grigoryan, Knar Khachatryan, Knarik Ayvazyan, andPundarik MukhopadhayaIndex 467

‘This is an outstanding collection of contributions from some of the most highly-respected researchers in the field of microfinance. It provides an excellent overview of the evidence on the success and limitations of microfinance and addresses important topics such as gender and finance, digital finance, and financial literacy. A must-read for anyone interested in microfinance.’