This paper provides an overview of private sector activity and investment in south-eastern Europe (SEE). The importance of the private sector is growing in all countries of the region. The private sector is dominated by small and medium-sized enterprises (SMEs) and much economic activity takes...

Although microfinance institutions across the world are moving from group lending towards individual lending, this strategic shift is not substantiated by sufficient empirical evidence on the impact of both types of lending on borrowers. We present such evidence from a randomised field...