and 2014. We looked at the role of microfinance as a bridge for MSMEs to access credit, however our results show that this … have much opportunity to access credit from formal microfinance institutions. In addition, MSMEs in rural areas have …

We study theoretically and empirically the demand for microcredit under different liability arrangements and risk … environments. A theoretical model shows that the demand for joint-liability loans can exceed that for individual-liability loans … when risk-averse borrowers value their long-term relationship with the lender. Joint liability then offers a way to …

exogenous change in the liability structure offered by a microfinance program in India, which shifted from individual to group …Microfinance, the provision of small individual and business loans, has experienced dramatic growth, reaching over 150 … million borrowers worldwide. Much of the success of microfinance has been attributed to attempts to overcome the challenges of …