This paper examines the costs of recent sovereign defaults using synthetic control methods, a novel econometric technique based on comparative case studies. Evidence on the effects of debt crises is thus presented on a case-by-case basis, uncovering large variations in country-specific...

Microfinance is recognized as contributing both directly and indirectly to the Millennium Development Goals (MDGs). Using data from a survey of clients of a microfinance bank, Khushhali Bank, in 2005, the study revisited the survey data and found that despite the Bank’s strict...