Emran, M. Shahe; Morshed, A.K.M Mahbub; Stiglitz, Joseph E. - Volkswirtschaftliche Fakultät, … - 2011
The existing theoretical analysis of microfinance focuses on the nature of the loan contract such as group liability … generation' debates in microfinance. Our analysis helps explain a number puzzles in microfinance such as (i) high repayment rates … of demand for microcredit. The analysis implies that while microcredit can play a vital role when labor markets are …