From field observations of credit cooperatives in Cameroon, we find that 19% of the loans taken are fully collateralized by savings held in the same institutions. This behavior is costly to the borrower, as it represents a net interest payment of about 24% per year. While traditional...

This wide-ranging book, based on a report to the Food and Agriculture Organization of the United Nations, bridges the gap between the enormous amount of empirical literature documenting efforts at managing local-level resources and the quickly growing body of theoretical knowledge dealing with...

This two-volume original reference work provides a comprehensive overview of development economics and comprises contributions by some of the leading scholars working in the field. Authors are drawn from around the world and write on a wide range of topics.

The purpose of this chapter is to identify the reasons for collective action failures and successes in natural resource management, and to understand, in the light of economic theory, the mode of operation of the factors involved whenever possible. In the first section, we clarify the notion of...