Informal Finance and Formal Microfinance
The Rationale of their Coexistence in the Context of Urban African Financial Markets
Première édition
This dissertation endeavours to shed light on the paradox of the persistence of informal finance in urban African markets despite the emergence of a vibrant microfinance sector. To do so, it analyses the rationale of the financial choices of the micro-entrepreneurs operating in the markets of Ouagadougou (Burkina Faso). In particular, a careful examination of the motives driving the combinative use of informal and formal microfinance is carried.
In order to lay deep theoretical foundations to this analysis, this thesis develops a model describing the financial behaviour of the micro-entrepreneurs in the presence of hyperbolic preferences and social influences. The solution of this model shows, inter alia, that the financial choices are not solely driven by economic motivations but also by social motivations. This result is confirmed by empirical observations which show, among other things, that social relations play an important role in explaining the persistence of informal finance.
Besides, it appeared also that the combinative use of informal finance and microfinance can be explained, on the one side, by the fact that the motives driving the demand for informal and for formal finance are not always the same and, on the other side, by the fact that these two types of financial mechanisms are more likely to be used as complements than as substitutes.
Ultimately, this thesis unfolds a new perspective for apprehending the coexistence of informal and formal microfinance. Informal finance is no longer considered as a makeshift, but as an integral part of the financial landscape of the Sub-Saharan urban financial markets. Therefore, microfinance institutions and policy makers ought to adopt a more positive and pro-active attitude vis-à-vis informal finance.
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Spécifications
- Éditeur
- Presses universitaires de Louvain
- Partie du titre
-
Numéro 695
- Auteur
- Pierre-Germain Umuhire,
- Collection
- Thèses de la Faculté des sciences économiques, sociales, politiques et de communication | n° 695
- Langue
- anglais
- BISAC Subject Heading
- BUS000000 BUSINESS & ECONOMICS
- Code publique Onix
- 06 Professionnel et académique
- CLIL (Version 2013-2019 )
- 3283 SCIENCES POLITIQUES
- Date de première publication du titre
- 22 mai 2013
- Subject Scheme Identifier Code
- Classification thématique Thema: Sciences politiques et théorie
- Type d'ouvrage
- Thèse
- Avec
- Index
Livre broché
- Date de publication
- 28 septembre 2017
- ISBN-13
- 978-2-87558-595-0
- Ampleur
- Nombre de pages de contenu principal : 440
- Dépôt Légal
- D/2017/9964/37 Louvain-la-Neuve, Belgique
- Code interne
- 95451
- Format
- 16 x 24 cm
- Poids
- 696 grammes
- Type de packaging
- Aucun emballage extérieur
- Prix
- 41,50 €
- ONIX XML
- Version 2.1, Version 3
- Date de publication
- 28 septembre 2017
- ISBN-13
- 978-2-87558-596-7
- Ampleur
- Nombre de pages de contenu principal : 440
- Dépôt Légal
- D/2017/9964/37 Louvain-la-Neuve, Belgique
- Code interne
- 95451PDF
- Prix
- 27,50 €
- ONIX XML
- Version 2.1, Version 3
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Sommaire
List of contributors
Acknowledgements
Introduction
Pieter DE HAAN, Rina DE VRIES & Sanne VAN VUUREN
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