Research and Articles

March 2009 Article
Microfinance, Microcredit and Social Performance by Prof. David Costa


In this short paper I analyze some of the characteristic of microfinance and compare the performance of a microfinance fund, namely the Swiss based ResponsAbility Microfinance Fund
managed by Credit Suisse with an investment in equity (I could have even compared the same with a more conservative bond fund to obtain similar results). I try to demonstrate that an investment in microfinance can be profitable both from a social and financial standpoint.

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External Articles

Subprime Lending: Lessons for the Microfinance Industry (pdf) Author: Microplace Discussion on what we can learn from the subprime crisis applied to the microfinance industry

Are interest rates required by Microfinance Institutions justifiable? Author:ResponsAbility Social Investing AG – This paper addresses the common criticism that microfinance is, due to the high interest charged, not effective.

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