Reflections on Microfinance

This chapter summarizes our reflections on microfinance, at theoretical and empirical levels. We examine the impact of microfinance on poverty reduction and review formal versus informal credit markets, regulatory and governance issues, competition and performance. We conclude by identifying promising research ideas for future research, including the need for mainstreaming gender and fragile states as key aspects of multi-level analysis of microfinance in order to inform financial inclusion and sustainable development goals (SDGs).