Individual microcredit loans are not necessarily simple fixed debt obligations, but rather may have contingencies and procedures suggested by the theory of mechanism design. Further, group or joint-liability lending may not be the single miracle cure practitioners claim nor operate the way the...

This paper uses variation in policies and institutional characteristics to evaluate the impacts of village-level microfinance institutions in rural Thailand. To identify impacts, we use policies related to the successful/unsuccessful provision of services as exogenous variation in effective...