In this paper we study the determinants of use of formal and informal credit sources. Given that awareness is a necessary step towards use of credit, in order to control for the possible selection bias we decompose the decision to use credit as a two stage decision process in which first,...

Following a brief overview of how modern P2P lending works, this legal backgrounder will describe these recent regulatory and legislative developments. It will then conclude with a discussion of the relationship between regulation and innovation as it applies to this area. As evidenced by the...