low and buy high" rather than the reverse. In a field experiment in Kenya, we show that credit market imperfections limit …

I use a field experiment in rural Kenya to study how temporary incentives to save impact long-run economic outcomes …

We conduct the first field experiment of a performance-contingent microfinance contract. A large food multinational … Kenya, we compare asset financing under a traditional debt contract to three alternatives: (i) a novel equity-like financing … large positive impacts from the contractual innovations. These findings demonstrate the economic appeal of microfinance …

of microfinance. Random variation in the frequency of mandatory meetings across first-time borrower groups generates …

We study the causes and consequences of patronage in Brazilian cities since the country's re-democratization. We test … patronage for public finances. Our data consist of the universe of public sector employees merged with their party affiliations …, and a dynamic regression discontinuity design is applied to disentangle patronage from the growing political participation …

evidence of the interconnection between two critical political components: state weakness and clientelism. State weakness … creates the right environment for clientelism to flourish. Clientelism sets in place a structure of incentives for politicians … and citizens that is detrimental to building state capacity. We show that vote buying, as a measure of clientelism, and …