) risk. Using manually collected data from microfinance institutions' financial reporting, I find that the microfinance … sector faces minimal liquidity risk, high interest rate risk and a lower than commonly assumed exposure to FX risk. Linking … risk exposure to institutional characteristics, the data shows that legal status and regional affiliation are correlated …

) risk. It builds on a manually collected set of data on FX positions and the maturity structure of assets and liabilities of … average, face no liquidity risk and that exposure to FX risk is lower than commonly assumed. Linking risk exposure to … institutional characteristics, I find that legal status and regional affiliation are correlated with risk exposure while regulatory …

risk sharing. This paper provides a comprehensive empirical evaluation of the patterns of risk sharing among different … a variety of empirical techniques, we conclude that there is at best a modest degree of international risk sharing, and … certainly nowhere near the levels predicted by theory. In addition, only industrial countries have attained better risk sharing …