Microcredit has expanded rapidly since its beginnings in the last 1970s, but whether and how much it reduces poverty is the subject of intense debate. Generally it depends on how the program is implemented and the set of policies that regulate it. In this spirit, microcredit impacts in the...

Microcredit has expanded rapidly since its beginnings in the last 1970s, but whether and how much it reduces poverty is the subject of intense debate. Generally it depends on how the program is implemented and the set of policies that regulate it. In this spirit, microcredit impacts in the...

This study examines the interaction between insurance, credit and liquidity constraints using a stochastic dynamic model. A risk averse farmer whose objective is to manage both production and market risk is assumed to maximize the expected utility of life-time consumption by using both area...