In October 2010, the state government of Andhra Pradesh, India issued an emergency ordinance, bringing microfinance activities in the state to a complete halt and causing a nation-wide shock to the liquidity of lenders, especially those with loans in the affected state. We use this massive...

In the fall of 2008, the Moroccan microfinance sector underwent what in economics is referred to as a Minsky moment, the sudden realization that the market has overshot and that the good times are coming to an end. In this particular case, the Minsky moment was a specific event - the private...

In October 2010, the state government of Andhra Pradesh, India issued an emergency ordinance, bringing microfinance activities in the state to a complete halt and causing a nation-wide shock to the liquidity of lenders, especially those with loans in the affected state. We use this massive...