Evolution and Effects of the Legal and Regulatory Framework on Microfinance in Brazil

This article argues that a strong legal and regulatory framework can contribute to the expansion of microfinance in Brazil. First, it outlines the regulatory framework in the enhancement of microfinance in the country; it then reviews different patterns of regulation and supervision for the success of this microfinance. The findings suggest mixed results; a stringent regulatory regime and rules have limited the growth of most microfinance...