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Research and Impacts of Digital Financial Services

Karlan, Dean S. - 2016

A growing body of rigorous research shows that financial services innovations can have important positive impacts on wellbeing, but also that many do not. We first describe the latest evidence on what works in financial inclusion. Second, we summarize research on key financial market failures...

Persistent link: https://www.econbiz.de/10012982385

Microfinance Games

Giné, Xavier; Jakiela, Pamela; Karlan, Dean S.; … - 2009

Microfinance has been heralded as an effective way to address imperfections in credit markets. From a theoretical … perspective, however, the success of microfinance contracts has puzzling elements. In particular, the group-based mechanisms often … different games that allow us to unpack microfinance mechanisms in a systematic way. We find that risk-taking broadly conforms …

Persistent link: https://www.econbiz.de/10014057322

Credit Elasticities in Less-Developed Economies : Implications for Microcredit

Karlan, Dean S.; Zinman, Jonathan - 2014

Policymakers often urge microfinance institutions to increase interest rates to eliminate reliance on subsidies … of microfinance (Working Paper Nos. 106-111) …

Persistent link: https://www.econbiz.de/10014051306

Hoping to Win, Expected to Lose : Theory and Lessons on Micro Enterprise Development

Karlan, Dean S. - 2012

Many basic economic theories with perfectly functioning markets do not predict the existence of the vast number of microenterprises readily observed across the world. We put forward a model that illuminates why financial and managerial capital constraints may impede experimentation, and thus...

Persistent link: https://www.econbiz.de/10013101353

Hoping to Win, Expected to Lose : Theory and Lessons on Microenterprise Development

Karlan, Dean S. - 2013

We show how financial and managerial constraints impede experimentation and thus limit learning about the profitability of investments. Imperfect information about one's own type, but willingness to experiment to learn one's type, leads to short-run negative expected returns to investments, with...

Persistent link: https://www.econbiz.de/10013085940

Long-Run Price Elasticities of Demand for Credit : Evidence from a Countrywide Field Experiment in Mexico

Karlan, Dean S. - 2013

The long-run price elasticity of demand for credit is a key parameter for intertemporal modeling, policy levers, and lending practice. We use randomized interest rates, offered across 80 regions by Mexico's largest microlender, to identify a 29-month dollars-borrowed elasticity of -1.9. This...

Persistent link: https://www.econbiz.de/10013072069

Follow the Money : Methods for Identifying Consumption and Investment Responses to a Liquidity Shock

Karlan, Dean S. - 2013

Identifying the impacts of liquidity shocks on spending decisions is difficult methodologically but important for theory, practice, and policy. Using seven different methods on microenterprise loan applicants, we find striking results. Borrowers report uses of loan proceeds strategically, and...

Persistent link: https://www.econbiz.de/10013072803

Long-Run Price Elasticities of Demand for Credit : Evidence from a Countrywide Field Experiment in Mexico

Karlan, Dean S. - 2013

Persistent link: https://www.econbiz.de/10013081249

Expanding Credit Access : Using Randomized Supply Decisions to Estimate the Impacts

Karlan, Dean S. - 2010

Expanding access to commercial credit is a key ingredient of financial development strategies. There is less consensus on whether expanding access to consumer credit helps borrowers, particularly when loans are extended at high interest rates. Popular skepticism about “unproductive,”...

Persistent link: https://www.econbiz.de/10013148687

Microcredit Impacts : Evidence from a Randomized Microcredit Program Placement Experiment by Compartamos Banco

Angelucci, Manuela - 2014

Theory and evidence have raised concerns that microcredit does more harm than good, particularly when offered at high interest rates. We use a clustered randomized trial, and household surveys of eligible borrowers and their businesses, to estimate impacts from an expansion of group lending at...

Persistent link: https://www.econbiz.de/10013060267