In recent years, microfinance institutions have expanded into group lending with individual liability, leaving out the … repay a group loan to safeguard their reputation. We show that the introduction of group loans with individual liability … importance to their reputation will select into individual liability loans, causing default rates and interest rates to rise for …

The global microfinance movement is driven by the claim that once poor micro-entrepreneurs are provided access to … substantiate this claim. This paper reports on a field experiment conducted in Pakistan, in co-operation with Akhuwat microfinance … microfinance institutions in Pakistan. …

The global microfinance movement is driven by the claim that once poor micro-entrepreneurs are provided access to … substantiate this claim. This paper reports on a field experiment conducted in Pakistan, in co-operation with Akhuwat microfinance … microfinance institutions in Pakistan …

microcredit, assessing both the general impact of the intervention and the heterogeneity across contexts. The general impact on …% households who previously operated businesses before microcredit expansion. A cautious assessment of the correlations between …

address this question through a randomized experiment with 799 microfinance clients holding microbusinesses in India. In … treated branches, borrowers select between the standard rigid microfinance contract and a more expensive innovative contract …

study the implications of this for trust and trustworthiness. Trustworthy individuals are more \optimistic" than …

Microcredit loans were traditionally extended to groups of people. However, there is no clear evidence that joint …. Utilizing the exogenous shift from individual to joint liability lending by a microfinance organization in Pakistan, we find …