Template-Type: ReDIF-Article 1.0
Author-Name: Victor S. Utkin 
Author-Email: utkin@nifi.ru
Author-Workplace-Name: Financial Research Institute, Moscow 127006, Russia
Author-Name: Anna A. Yurieva 
Author-Email: anne.yurjeva@yandex.ru
Author-Workplace-Name: Financial Research Institute, Moscow 127006, Russia 
Title: Analysis of the Russian Microfinance Market's Main Problems
Abstract: The article analyzes the legal specifics of the regulation of the microfinance market in foreign countries. The authors investigate the validity of the microfinances perception at the international level as a tool of social policy, through which it is possible to combat social and financial inequalities, and stimulate the public self-employment. The article cites successful examples of anti-bullying state regulation of the microfinance sector, which, combined with the state grants, makes it possible to finance socially unprotected population at a rate much lower than a banking rate. Based on the study of foreign experience the authors conduct the analysis of the Russian microfinance market, identify the pressing problems of the Russian microfinance sector, which require urgent solutions, in particular, on implementation of regulatory arbitration by microfinance organizations and the debt load of the Russian people from microfinance organizations, and provide suggestions for their elimination.
Classification-JEL: G21, G28
Keywords: microfinance market, microfinance organizations, government regulation of microfinance sector, regulatory arbitrage, household debt load, microcredit, microloan
Journal: Finansovyj žhurnal — Financial Journal
Pages: 97-107
Issue: 5
Year: 2018
Month: October
DOI: 10.31107/2075-1990-2018-5-97-107
File-URL: http://www.nifi.ru/images/FILES/Journal/Archive/2018/5/statii/fm_2018_5_08.pdf
File-Format: Application/pdf 
Handle: RePEc:fru:finjrn:180508:p:97-107