A Case Study of Microfinance and Community Development Banks in Brazil
基于巴西实地调研，运用奥斯特罗姆的自治组织设计原则分析社区发展银行的小额信贷系统，发现私人产品在社区自治管理下可转变为混合产品，从而增强金融包容性。
Inclusive financial sectors are essential to poverty alleviation. While microcredit can be governed as a private good, self-managed civil society organizations propose an alternative way of managing financial services. Brazil’s Community Development Banks (CDBs) are growing and dynamic manifestations of these nonprofit organizations. Based on field research in Brazil, this article uses Elinor Ostrom’s design principles of successful self-governing common-pool resource organizations to analyze CDBs’ microcredit system. Our results suggest that private goods could be altered when they are governed by community self-managed enterprises. They become hybrid goods as they mix the characteristics of private and common goods. This change is facilitated by specific organizational arrangements such as self-governance that emerge from grassroots dynamics and the creation of collective-choice arenas. These arrangements help strengthen the inclusion properties of nonprofit microcredit services.