Thesis (M.A.)--City University of Hong Kong, 2008. / Title from PDF t.p. (viewed on Oct. 3, 2008) "City University of Hong Kong, School of Law, LW 6409A Dissertation." Includes bibliographical references (p. 63-65)

Yes / Drawing from 645 microfinance institutions across 56 countries, this paper examines the deposit-borrowing dynamic of microfinance institutions’ source of capital. We find that deposits and borrowings are substitutes rather than complements. We further find that the degree of substitutability is more pronounced among microfinance institutions operating in a developed financial sector where the level of information asymmetry is lower. Our findings represent novel contribution in understanding microfinance institutions’ funding behaviour that supports its quest for further growth and long-term sustainability. / Research Development Fund Publication Prize Award winner, April 2023.