analyses the impact of these interest rate caps on microfinance institutions. Introducing the taxonomy of soft, mezzo and hard … instrument to distinguish between the different service levels and industry environments in which microfinance institutions … of the informal credit sector, and furthering the microfinance institution's mission drift. In Pt. V. we also show that …

As opposed to the public debt market, the ultimate users of bank loan ratings, lenders, may prefer inflated ratings to … indicators of borrower distress. We find that bank loan ratings are systematically biased upwards for bank borrowers with greater … information asymmetry. We also find that bank loan ratings are less responsive to changes in underlying credit conditions for …