microfinance institution induces peer monitoring, which in turn enables entrepreneurship. Our main result is that there exists an …This paper analyses the welfare effects of microfinance and inflation in developing countries. Therefore, we introduce … inflation threshold beyond which entrepreneurship collapses. We show that inflation affects the impact of microfinance on social …

Group liability is often portrayed as the key innovation that led to the explosion of the microcredit movement, which …

Group liability in microcredit purports to improve repayment rates through peer screening, monitoring, and enforcement …

Group liability in microcredit purports to improve repayment rates through peer screening, monitoring, and enforcement …

This paper describes a Hungarian social microcredit programme, called Kiútprogram and discusses the major lessons drawn …

members have better information about each other compared to lenders, peer monitoring is often less expensive than lender … monitoring. Theoretically this leads to greater monitoring and greater rates of loan repayments. This paper reports the results … from a laboratory experiment of group lending in the presence of moral hazard and (costly) peer monitoring. We compare peer …