Emran, M. Shahe; Morshed, A. K. M. Mahbub; Stiglitz, … - 2011
The existing theoretical analysis of microfinance focuses on the nature of the loan contracts that mitigates the … generation' puzzles and debates in the microfinance movement. Our analysis shows that a focus on the labor market helps explain a … number puzzling aspects of microfinance in developing countries like (i) credit-worthiness of poor women borrowers facing …