Microcredit seeks to promote business growth and improve well-being by expanding access to credit. We use a field … experiment and follow-up survey to measure impacts of a credit expansion for microentrepreneurs in Manila. The effects are … microlenders: male and higher-income entrepreneurs. In all, our results suggest that microcredit works broadly through risk …

This paper reports the results from a randomized evaluation of a microcredit program introduced in rural areas of … Morocco starting in 2006 by Al Amana, the country’s largest microfinance institution. Al Amana was the only MFI operating in …, microcredit access led to a significant rise in investment in assets used for self-employment activities (mainly animal husbandry …

We investigate the puzzle of microfinance: that loans generate large measured returns for businesses, yet loan take …-up is low and the businesses often close. We analyze a randomized trial that bundled microfinance loans with a cheap health … business losses, rather than pay modest insurance premiums, implies the substantial financial gains from microfinance loans are …

the credit market in a model of opportunistic debtors and inefficient courts. According to the model, improvements in … judicial efficiency should reduce credit rationing and increase lending, with an ambiguous effect on interest rates that … provinces and by cross-country evidence. In Italian provinces with longer trials or large backlogs of pending trials, credit is …

credit bureaus and public credit registers. We find that bank lending is higher and proxies for default rates are lower in …

The degree to which credit markets discipline sovereign borrowers is investigated by estimating the supply curve for … debt faced by US states. The results generally support an optimistic view of the market discipline hypothesis, with credit … some evidence that credit markets may withhold access to credit at very high levels of debt. …

Group loans with joint liability have been a distinguishing feature of many microfinance programs. While such lending … model in which there is a single investment project and access to credit is limited by weak repayment incentives. We show …

Theory and evidence have raised concerns that microcredit does more harm than good, particularly when offered at high … microcredit causes harm. …

Theory and evidence have raised concerns that microcredit does more harm than good, particularly when offered at high …