Irwin, Gregor; Penalver, Adrian; Salmon, Chris; Taylor, … - 2008
impact of the increasing heterogeneity of the Fund's membership on the political equilibrium Fund size and hence its … effectiveness as a credit union. We find the Fund's existing lending framework is well suited to a world in which its members have … homogeneous interests, but as the membership has become more heterogeneous the Fund is increasingly unlikely to provide financing …