We utilize a unique pair of experiments to isolate the ways in which reductions in asymmetric information alter credit market outcomes. A Guatemalan microfinance lender gradually started using a credit bureau across its branches without letting borrowers know about it. One year later, we ran a...

What is the impact on voting behavior of strengthening property rights over agricultural land? To answer this question, we use the 14-year nationwide rollout of Mexico's land certification program (Procede) and match affected communities (ejidos) before and after the change in property rights...

Credit agents in microfinance institutions (MFIs) must be given incentives to acquire information on potential borrowers and select them in accordance with the MFI's objectives. We show that while giving incentives has no cost in for-profit MFIs, it is costly in pro-poor MFIs: When repayment and...