ABSTRACT

Practical experience and research on microfinance in various countries around the world show that microfinance institutions (MFIs) have had a profound impact on poverty alleviation, addressing the difficulty of lending in rural areas and promoting the development of small and medium-size enterprises. Based on data covering a hundred MFIs in twenty-two countries along the Belt and Road (In diplomatic documents, the English version of “the Belt and Road” is “the Silk Road Economic Belt and the 21st-Century Maritime Silk Road”, which can be abbreviated as “B&R”) from 2014 to 2016, this paper studies the micro- and macro-level factors that affect the sustainable development of MFIs from the perspective of inclusive finance. The results show that the return on assets, credit depth of information index have significant positive effects on the sustainable development of MFIs. However, average loan balance, total expense to asset, risk asset ratio more than thirty days’ overdue and rural population to total population have significant negative effects on the sustainable development of MFIs. MFIs’ sustainability are significant regional differences.

摘要

世界各国在小额信贷方面的实践经验和研究表明，小额信贷机构对减轻贫困，解决农村地区的贷款困难和促进中小企业的发展产生了深远的影响。根据涵盖“一带一路”沿线22个国家的100家小额信贷机构的数据（在外交文件中，“一带一路”的英文版为“丝绸之路经济带和21世纪海上丝绸之路”， （可缩写为“ B＆R”），从2014年到2016年，本文从包容性金融的角度研究了影响小额信贷机构可持续发展的微观和宏观因素。结果表明，资产收益率，信息深度信贷指数对小额信贷机构的可持续发展具有重大的积极影响。但是，平均贷款余额，总资产支出，逾期三十天以上的风险资产比率以及农村人口占总人口的数量，对小额信贷机构的可持续发展具有重大的负面影响。小额信贷机构的可持续性是重大的地区差异。