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Sean Turnell was mentioned in the Myanmar Times article "Micro lenders eye growth paths"

Created: 01 Oct 2013

Sean Turnell

Publication: Myanmar Times
Title: Micro lenders eye growth paths
Date: 29 September, 2013
Author: Jeremy Mullins

Excerpt: Sean Turnell, an economics professor at Macquarie University, said prudential regulations are necessary for the microfinance sector and the financial industry as a whole, adding the trick is to get the balance right between regulation that discourages imprudent lending and excessive indebtedness this creates, while not restricting the sector's capabilities.

"Such a balance is especially difficult to arrive at in Myanmar at this time, since there has been something of a 'rush' of microfinance firms," he said."

Historically, and in other countries, dramatic expansions of microfinance have fuelled 'boom and bust' episodes that have been greatly destructive of confidence."

Mr Turnell also said he is "sanguine about the entry of foreign MFIs, and [worries] more about local moneylending operators and the like taking up MFI licences."

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