En esta conferencia Stiglitz hace un análisis de las reformas aplicadas enAmérica Latina en los años noventa y que están representadas en el Consensode Washington. Examina los alcances y limitaciones de dichas reformas yllega a la conclusión de que tales reformas son en parte las...

The existing theoretical analysis of microfinance focuses on the nature of the loan contract such as group liability. We draw attention to the role of missing or imperfect labor market in understanding some of the important `second generation' debates in microfinance. Our analysis helps explain...

The existing theoretical analysis of microfinance focuses on the nature of the loan contract such as group liability. We draw attention to the role of missing or imperfect labor market in understanding some of the important `second generation' debates in microfinance. Our analysis helps explain...

The existing theoretical analysis of microfinance focuses on the nature of the loan contracts that mitigates the pervasive problems of moral hazard and adverse selection in the absence of physical collateral. We depart from the existing literature and draw attention to the role of missing or...