Bertrand Moulin - Academia.edu (original) (raw)
Uploads
Papers by Bertrand Moulin
![Research paper thumbnail of Articulations entre banques commerciales et institutions de microfinance en Afrique subsaharienne: cas du Cameroun [Articulations between commercial banks and microfinance institutions in Sub-Saharan Africa: the case of Cameroon]](https://attachments.academia-assets.com/95380316/thumbnails/1.jpg)
](MPRA Paper, 2011
In this article, we evaluate, from the point of view of banks, the potential of articulations bet... more In this article, we evaluate, from the point of view of banks, the potential of articulations between commercial banks and microfinance institutions (MFIs) in Cameroun in terms of financing of the rural and the micro, small and medium enterprises (MSMEs). Furthermore, we seek to define the best form of partnership between the two types of institutions. The results obtained suggest that the articulations between banks and MFIs can potentially be beneficial to all stakeholders (banks, MFIs but also recipients). This study also highlights the fact that these articulations can be even more beneficial if national commercial banks, under the Cameroonian law in our case, participate rather than branches of foreign banking groups. Indeed, our research reveals that through these partnerships, from their cultural proximity and their propensity to take more risks, national commercial banks will more likely offer either directly or indirectly (through MFIs) more adapted financial products and services to both the rural and the MSMEs’ segments. The question of knowing if a better form of partnership between commercial banks and MFIs exists, results suggest that there is no better form of partnership as such; that the best form depends on the MFI’s development stage and that in any case this partnership should privilege a national commercial bank rather than a branch of a foreign bank. Even if the foreign banks’ contest might be necessary at a given stage of the process, the results make it also possible to consider a new model of interactions implying Microfinance investment vehicles and national commercial banks. This model would have the advantage to help mitigate risks that those vehicles perceive when deciding to directly invest in MFIs.
Research in International Business and Finance, 2016
This study assesses the role of ICT in complementing private credit bureaus (PCB) and public cred... more This study assesses the role of ICT in complementing private credit bureaus (PCB) and public credit registries (PCR) in reducing information asymmetry for financial access. The empirical evidence is based on Generalised Method of Moments with 53 African countries for the period 2004-2011. The following findings are established. First on financial access: (i) the marginal effects from interactions between ICT and PCR (PCB) are consistently positive (negative); (ii) net effects from interactions are negative with the higher magnitude from PCR and (iii) only thresholds corresponding to interactions between PCR and internet penetration are within range. Second, findings on financial allocation efficiency reveal positive marginal and net effects exclusively for mobile phones and PCR. Third, allocation efficiency may be constrained by increasing financial deposits. Overall, the complementarity between information offices and ICT in boosting financial access is still very limited. Policy implications are discussed with emphasis on improving the engaged complementarity and fighting surplus liquidity.
This paper sheds the light on the potential and constraints of possible interactions between Micr... more This paper sheds the light on the potential and constraints of possible interactions between Microfinance Investment Vehicles (MIVs) and the two main African Microfinance models namely the cooperative model, well developed in West Africa, and the commercial model, found in East Africa. We assess if both parties can gain from those interactions. We argue that given the significant funding needs of Microfinance institutions (MFIs) in that part of the world, in particular with regards to equity investments and capacity building, the African microfinance sector requires resources that can only be provided with the contest of private investors. In this respect, provided some conditions are met, for instance the presence in these vehicles of Development financial institutions (DFIs) that play the role of catalysts by initiating investments and taking risks that private investors would not dare taking; MIVs could be suitable for the financing of the rural and the micro-enterprises segments...
Research in International Business and Finance. 38 pp.202-213, 2016
This study assesses the role of ICT in complementing private credit bureaus (PCB) and public cre... more This study assesses the role of ICT in complementing private credit bureaus (PCB) and public credit registries (PCR) in reducing information asymmetry for financial access. The empirical evidence is based on Generalised Method of Moments with 53 African countries for the period 2004-2011. The following findings are established. First on financial access: (i) the marginal effects from interactions between ICT and PCR (PCB) are consistently positive (negative); (ii) net effects from interactions are negative with the higher magnitude from PCR and (iii) only thresholds corresponding to interactions between PCR and internet penetration are within range. Second, findings on financial allocation efficiency reveal positive marginal and net effects exclusively for mobile phones and PCR. Third, allocation efficiency may be constrained by increasing financial deposits. Overall, the complementarity between information offices and ICT in boosting financial access is still very limited. Policy implications are discussed with emphasis on improving the engaged complementarity and fighting surplus liquidity.
tant que telle, que la forme la plus indiquée dépend du stade de développement de l'IMF et qu'en ... more tant que telle, que la forme la plus indiquée dépend du stade de développement de l'IMF et qu'en tout état de cause, celle-ci doit privilégier une banque nationale plutôt qu'une succursale d'une banque étrangère.
This paper sheds the light on the potential and constraints of possible interactions between Micr... more This paper sheds the light on the potential and constraints of possible interactions between Microfinance Investment Vehicles (MIVs) and the two main African Microfinance models namely the cooperative model, well developed in West Africa, and the commercial model, found in East Africa. We assess if both parties can gain from those interactions. We argue that given the significant funding needs
This study assesses the role of ICT in complementing private credit bureaus (PCB) and public cred... more This study assesses the role of ICT in complementing private credit bureaus (PCB) and public credit registries (PCR) in reducing information asymmetry for financial access. The empirical evidence is based on Generalised Method of Moments with 53 African countries for the period 2004-2011. The following findings are established. First on financial access: (i) the marginal effects from interactions between ICT and PCR (PCB) are consistently positive (negative); (ii) net effects from interactions are negative with the higher magnitude from PCR and (iii) only thresholds corresponding to interactions between PCR and internet penetration are within range. Second, findings on financial allocation efficiency reveal positive marginal and net effects exclusively for mobile phones and PCR. Third, allocation efficiency may be constrained by increasing financial deposits. Overall, the complementarity between information offices and ICT in boosting financial access is still very limited. Policy implications are discussed with emphasis on improving the engaged complementarity and fighting surplus liquidity.
MPRA Paper, 2011
In this article, we evaluate, from the point of view of banks, the potential of articulations bet... more In this article, we evaluate, from the point of view of banks, the potential of articulations between commercial banks and microfinance institutions (MFIs) in Cameroun in terms of financing of the rural and the micro, small and medium enterprises (MSMEs). Furthermore, we seek to define the best form of partnership between the two types of institutions. The results obtained suggest that the articulations between banks and MFIs can potentially be beneficial to all stakeholders (banks, MFIs but also recipients). This study also highlights the fact that these articulations can be even more beneficial if national commercial banks, under the Cameroonian law in our case, participate rather than branches of foreign banking groups. Indeed, our research reveals that through these partnerships, from their cultural proximity and their propensity to take more risks, national commercial banks will more likely offer either directly or indirectly (through MFIs) more adapted financial products and services to both the rural and the MSMEs’ segments. The question of knowing if a better form of partnership between commercial banks and MFIs exists, results suggest that there is no better form of partnership as such; that the best form depends on the MFI’s development stage and that in any case this partnership should privilege a national commercial bank rather than a branch of a foreign bank. Even if the foreign banks’ contest might be necessary at a given stage of the process, the results make it also possible to consider a new model of interactions implying Microfinance investment vehicles and national commercial banks. This model would have the advantage to help mitigate risks that those vehicles perceive when deciding to directly invest in MFIs.
Research in International Business and Finance, 2016
This study assesses the role of ICT in complementing private credit bureaus (PCB) and public cred... more This study assesses the role of ICT in complementing private credit bureaus (PCB) and public credit registries (PCR) in reducing information asymmetry for financial access. The empirical evidence is based on Generalised Method of Moments with 53 African countries for the period 2004-2011. The following findings are established. First on financial access: (i) the marginal effects from interactions between ICT and PCR (PCB) are consistently positive (negative); (ii) net effects from interactions are negative with the higher magnitude from PCR and (iii) only thresholds corresponding to interactions between PCR and internet penetration are within range. Second, findings on financial allocation efficiency reveal positive marginal and net effects exclusively for mobile phones and PCR. Third, allocation efficiency may be constrained by increasing financial deposits. Overall, the complementarity between information offices and ICT in boosting financial access is still very limited. Policy implications are discussed with emphasis on improving the engaged complementarity and fighting surplus liquidity.
This paper sheds the light on the potential and constraints of possible interactions between Micr... more This paper sheds the light on the potential and constraints of possible interactions between Microfinance Investment Vehicles (MIVs) and the two main African Microfinance models namely the cooperative model, well developed in West Africa, and the commercial model, found in East Africa. We assess if both parties can gain from those interactions. We argue that given the significant funding needs of Microfinance institutions (MFIs) in that part of the world, in particular with regards to equity investments and capacity building, the African microfinance sector requires resources that can only be provided with the contest of private investors. In this respect, provided some conditions are met, for instance the presence in these vehicles of Development financial institutions (DFIs) that play the role of catalysts by initiating investments and taking risks that private investors would not dare taking; MIVs could be suitable for the financing of the rural and the micro-enterprises segments...
Research in International Business and Finance. 38 pp.202-213, 2016
This study assesses the role of ICT in complementing private credit bureaus (PCB) and public cre... more This study assesses the role of ICT in complementing private credit bureaus (PCB) and public credit registries (PCR) in reducing information asymmetry for financial access. The empirical evidence is based on Generalised Method of Moments with 53 African countries for the period 2004-2011. The following findings are established. First on financial access: (i) the marginal effects from interactions between ICT and PCR (PCB) are consistently positive (negative); (ii) net effects from interactions are negative with the higher magnitude from PCR and (iii) only thresholds corresponding to interactions between PCR and internet penetration are within range. Second, findings on financial allocation efficiency reveal positive marginal and net effects exclusively for mobile phones and PCR. Third, allocation efficiency may be constrained by increasing financial deposits. Overall, the complementarity between information offices and ICT in boosting financial access is still very limited. Policy implications are discussed with emphasis on improving the engaged complementarity and fighting surplus liquidity.
tant que telle, que la forme la plus indiquée dépend du stade de développement de l'IMF et qu'en ... more tant que telle, que la forme la plus indiquée dépend du stade de développement de l'IMF et qu'en tout état de cause, celle-ci doit privilégier une banque nationale plutôt qu'une succursale d'une banque étrangère.
This paper sheds the light on the potential and constraints of possible interactions between Micr... more This paper sheds the light on the potential and constraints of possible interactions between Microfinance Investment Vehicles (MIVs) and the two main African Microfinance models namely the cooperative model, well developed in West Africa, and the commercial model, found in East Africa. We assess if both parties can gain from those interactions. We argue that given the significant funding needs
This study assesses the role of ICT in complementing private credit bureaus (PCB) and public cred... more This study assesses the role of ICT in complementing private credit bureaus (PCB) and public credit registries (PCR) in reducing information asymmetry for financial access. The empirical evidence is based on Generalised Method of Moments with 53 African countries for the period 2004-2011. The following findings are established. First on financial access: (i) the marginal effects from interactions between ICT and PCR (PCB) are consistently positive (negative); (ii) net effects from interactions are negative with the higher magnitude from PCR and (iii) only thresholds corresponding to interactions between PCR and internet penetration are within range. Second, findings on financial allocation efficiency reveal positive marginal and net effects exclusively for mobile phones and PCR. Third, allocation efficiency may be constrained by increasing financial deposits. Overall, the complementarity between information offices and ICT in boosting financial access is still very limited. Policy implications are discussed with emphasis on improving the engaged complementarity and fighting surplus liquidity.