Abstract:Do microfinance institutions operate in a monopoly, monopolistic competition environment or are their revenues derived under perfect competition markets? We employ the Panzar-Rosse test on a global panel data to assess the competitive environment in which microfinance institutions (MFIs) of five selected countries operate: Ecuador, India, Indonesia, Peru and Philippines, over the period 2005-2009. We estimate the static and the dynamic revenue tests, with analyses of the interest rate and the return on assets.… Show more
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