The Centre for European Research in Microfinance (CERMi) is a major microfinance research center in Europe. Founded in 2007 by the University of Mons (UMONS) and the Université Libre de Bruxelles (ULB), CERMi is co-directed by Prof. Marek Hudon (ULB), Prof. Marc Labie (UMONS) and Prof. Ariane Szafarz (ULB). Through the promotion of high-level academic research and the organization of numerous scientific events, the center aims to study the management and practices of microfinance organizations in a multidisciplinary way, and thus contribute to the academic discussion around issues related to microfinance and financial inclusion, but also more broadly to the social economy. CERMi is also at the origin of the organization of the European Microfinance Programme and today has 21 successfully defended PhD theses, more than 40 associate researchers, and numerous partnerships with academic and field actors, in the North and in the South.
For several years now, the collaboration between ADA and CERMi has taken place at different levels:
In 2018, ADA is engaged in a specific research collaboration with CERMi in the framework of Tristan Caballero Montes' PhD thesis. Indeed, for ADA, research is a relevant way to produce new knowledge for the inclusive finance sector. Moreover the research is linked to the sector's issues and uses data from the field. The thesis is in line with this logic, since we were collaborating from the beginning with Tristan on the definition of a common project. ADA ensures that the research meets the needs of practitioners in the sector and facilitates access to field data. Ultimately, this new knowledge will feed into current and future ADA and sector projects.
In 2018, Tristan joined the CERMi research unit hosted by UMONS, within the Department of Economics and Business Management (EGEE), headed by Pr. Marc Labie.
His thesis focuses on the issue of regulation of the microfinance sector and its contributions to the social and sustainability objectives of the organizations that make it up. Overall, it studies regulation, competition and self-regulation in microfinance, and aims to propose a more systemic vision of the regulation of the sector.
Concretely, the thesis is based on four scientific articles, three of which are currently available below, the last article is still in progress:
Download the available articles:
Research Note N°1 - Interest Rate Restrictions and Microfinance: Insights from Cambodia
“As a young researcher, the partnership with ADA has been an essential asset for me from the very beginning of my thesis. Obviously, collaborating with a key field player allowed me to strengthen the confidence of the Belgian National Fund for Scientific Research (FNRS), which granted me a fresh PhD scholarship. But above all, as a key player in the sector, ADA has allowed me to make privileged contacts with local actors, inseparable from quality research in microfinance, as well as to carry out several research missions in the field, sometimes for several months. Moreover, given its long experience of more than 25 years, ADA also represents an opportunity to obtain valuable advice from experienced practitioners enriching my reflections. In addition, ADA supports me in numerous scientific events which are indispensable in an academic career and that allow me to take my research one step further.”
Tristan Caballero Montes, PhD in Inclusive Finance