Research Journal of Economics

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Philippe Adairand Imene Berguiga Author

adair@u-pec.fr +33(0)601354840 | +33(0)601354

Subjects of specialization
Financial margin,Interest rates,MENA region,Microfinance institutions,Social performance

Affiliation
ERUDITE Research team, IHEC, University of Sousse, Tunisia

Biography

Imene BERGUIGA, PhD in Economics is Associate Professor in Finance and a member of the ERUDITE research team (University Paris-Est Creteil). She specializes in Accounting and Finance on the topics of microfinance, banks and small businesses funding in the MENA region and North African countries, which are her areas of expertise. Since 2010, she published papers in academic journals and proceedings related to microfinance, funding Micro-Small and Medium Size Enterprises (MSMEs) and specific risks of Islamic banking.

Publications

Research Article Open Access

What Determines Premium of MFIs in the Mena Region? A Panel Data Analysis (2004-2014)

Author(s):

Philippe Adair and Imene Berguiga

This is the first paper to address the premium-social performance relationship upon an unbalanced panel of 66 microfinance institutions (MFIs) in the MENA region over 2004-2014. According to a fixed effects model using instrumental variables, financial sustainability is the primary determinant of premium (i.e. the financial margin), whereupon social performance has a positive albeit insignificant impact. Mature MFIs maintain financial sustainability and serve rather non-poor clients, although they tame interest rates.

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