Replicating Microfinance in the United States

by Carr, James H.; Tong, Zhong Yi

• ISBN13: 9781930365100
• ISBN10: 1930365101
• Format: Hardcover
• Copyright: 2002-06-28
• Publisher: Johns Hopkins Univ Pr

Summary

"With the publication of this volume, knowledge and understanding of the practices of delivering micro-credit reach a new level of consolidation, and the stage is set for important further steps." -- from the Foreword by Richard P. Taub, University of ChicagoMicrofinance was pioneered in the developing world as the lending of small amounts of money to entrepreneurs who lacked the kinds of credentials and collateral demanded by banks. Similar practices spread from the developing to the developed world, reversing the usual direction of innovation, and today several hundred microfinance institutions are operating in the United States. "Replicating Microfinace in the United States" reviews experiences in both developing and industrialized countries and extends the applications of microlending beyond enterprise to consumer finance, housing finance, and community development finance, concentrating especially on previously underserved households and their communities.Contributors include Nitin Bhatt, Robert M. Buckley, Bruce Ferguson, Elinor Haider, Chi-kan Richard Hung, Sally R. Merrill, Jonathan Morduch, Gary Painter, Sohini Sarkar, Mark Schreiner, Lisa Servon, Ayse Can Talen, Shui-Yan Tang, Kenneth Temkin, Andres Vinelli, J. D. Von Pischke and Marc A. Weiss. "Replicating Microfinance in the United States" is based on papers commissioned by the Fannie Mae Foundation and findings from an October 2001 conference jointly held by the Fannie Mae Foundation and Woodrow Wilson International Center for Scholars in Washington, D.C.

Author Biography

James H. Carr is senior vice president for innovation, research, and technology at the Fannie Mae Foundation. Zhong Yi Tong is senior research fellow in housing finance and economics. Replicating Microfinance in the United States is based on papers presented at an October 2001 conference at the Woodrow Wilson Center.

Table of Contents

Tables	ix
Foreword	xi
Richard P. Taub
Acknowledgments	xiii
Introduction: Replicating Microfinance in the United States---An Overview	1	(18)
James H. Carr
Zhong Yi Tong
Part I. Review and Synthesis of Research
Opportunities and Challenges for Microfinance in the United States	19	(46)
Mark Schreiner
Jonathan Morduch
Part II. International Experience with Microfinance: Concepts, Approaches, and Best Practices
Microfinance in Developing Countries	65	(32)
J.D. Von Pischke
Current Foundations of Microfinance Best Practices in Developing Countries	97	(16)
J.D. Von Pischke
Microfinance in Industrial Countries: Lessons from the World Bank's Experience	113	(24)
Robert M. Buckley
Financial Sustainability in U.S. Microfinance Organizations: Lessons from Developing Countries	137	(32)
Andres Vinelli
Part III. Microfinance in the United States: The Challenges and Potential
Fulfilling the Potential of the U.S. Microenterprise Strategy	169	(22)
Lisa J. Servon
The Challenges of Outreach and Sustainability for U.S. Microcredit Programs	191	(32)
Nitin Bhatt
Gary Painter
Shui-Yan Tang
From South to North: A Comparative Study of Group-Based Microcredit Programs in Developing Countries and the United States	223	(34)
Chi-kan Richard Hung
Part IV. Comparative Studies of Microfinance for Housing
Microfinance and Low- and Moderate-Income Lending for Housing in Emerging Markets and the United States	257	(42)
Sally R. Merrill
Kenneth Temkin
Microfinance of Progressive Housing: Can Techniques from Developing Countries Be Adapted in the United States?	299	(32)
Bruce Ferguson
Elinor R. Haider
Part V. The Future of Microfinance in the United States
The Future of Microfinance in the United States: Research, Practice, and Policy Perspectives	331	(30)
Ayse Can Talen
Marc A. Weiss
Sohini Sarkar
Contributors	361	(8)
Index	369