This paper surveys the existing literature on the determinants of household savings and credit in developing countries …

's option value, even after compensating a lender for expected default losses. This non-neutrality of debt arises from an … risks, and lowers the investment threshold. Compensating the lender for expected default losses reduces project …

-spread default affects the banking system. We find that the interaction of credit, asset prices, and loan losses explains a complete … deteriorate, an asset price decline causes default among leveraged firms, and banks suffer loan losses. Their size determines … crises are also possible when loan losses force a credit contraction that feeds back onto asset prices. This model, unlike …

through’ the bank balance sheet; once borrowers default, asset prices drive bank capital, and constrained credit in turn … falling asset prices affect the banking system through wide-spread borrower default, while deriving explicit solutions and …-linear, and involves feedback from the banking system in the form of credit contraction. When borrowers repay, the effect ‘passes …

reorganization or liquidation if the value of the firm falls below a certain threshold. In the event of default, however, many …

Individual Development Accounts (IDAs) are subsidized savings accounts. Unlike other subsidized savings accounts such … examine the relationship between the hours of financial education attended by IDA participants and savings outcomes. The data …, with a low of zero and a high of 35. To measure the association between attendance at financial education and savings …

describes several measures of financial savings. The measures account for the passage of time and for the three stages of saving …

Individual Development Accounts (IDAs) are special savings accounts designed to help people build assets to reach life …