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The Discussion Paper series aims to disseminate research outputs (including the findings of work in progress) on development issues and development cooperation in the form of academic papers. For the sake of quick dissemination, the papers are not peer-reviewed but assessed by the review committee under the JICA Ogata Sadako Research Institute for Peace and Development (JICA Ogata Research Institute). The views expressed in this paper series are those of the author(s) and do not necessarily represent the official positions of either JICA or the JICA Ogata Research Institute

The relevant publication is 38.

#Discussion Papers

No.38 Impact Investors in the Microfinance Sector: Empirical Analysis of Debt Investment in Normal and Crisis Periods

AIBA Daiju
Bomakara Heng

The microfinance sector relies heavily on foreign funding sources, making it vulnerable to fluctuations ...

Date of issuance｜ 2025.04
Research area｜ Economic Growth and Poverty Reduction

Discussion Papers

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No.38 Impact Investors in the Microfinance Sector: Empirical Analysis of Debt Investment in Normal and Crisis Periods

No.37 Human Security and Disaster in Rural Japan: Reflections from the 2020 Kyushu Floods

No.36 Does Infrastructure Improve Human Well-being? Analysis of Japan's Subnational Human Development Index (1960–2020)

No.35 The Impact of Dhaka Mass Rapid Transit on Road Congestion

No.34 Perceptions of Microfinance: Evidence from a Household Survey in Cambodia

No.33 Issues in Intangible Assets and Their Implications on Policy in Developing Economies

No.32 Infrastructure Development and Carbon Footprints of Household Consumption in India

No.31 Flood Protection Investments in Indonesia, Japan, and the Philippines: A Comparative Analysis

No.30 The Impact of Social-Economic Factors in the Rise of Violent Extremism―An Empirical Study in African Countries

No.29 Zambia’s Media Perspective on China, the US, Japan, and South Africa: Comparative Exploration through Private Online Media

No.27 Analysis of the Smallholder Horticulture Empowerment and Promotion (“SHEP”) Intervention on Income and Food Security in Ethiopia

No.28 Japanese Emigration, Nikkei Communities, and Forced Migration: A Study from the Perspective of Human Security and International Cooperation

No.26 How Mental Accounting, and Financial Literacy Shape the Financial Situation of Overseas Filipino Workers (OFWs): A Multinomial Logistic Regression Study

No.25 Promoting livelihood diversification among rural farming households in Kenya: What role does farm forestry Farmer Field School play?

No.24 Estimating the Carbon Footprint of Post-War Reconstruction: Toward a “Greener” Recovery of Ukraine

No.23 Occupational Credentials and Migrants’ Return Aspiration: Evidence from the Foreign Elderly Care Workers in Japan

No.22 Acquisition of Microfinance Institutions by Commercial Investors: Evidence on Its Impacts on Outreach of the Cambodian Microfinance Institutions

No.21 Synthesizing the Empirical Evidence on the Productivity of Public Capital in Japan: A Meta-Analysis

No.20 Examining Women’s Commuting Experience in Urban Philippines: A Photovoice Exercise on Human Security

No.19 Mapping JICA-supported Works on Japan’s Development Experience in Development Studies: Their Particularities and Potentials