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microfinance institution induces peer monitoring, which in turn enables entrepreneurship. Our main result is that there exists an …This paper analyses the welfare effects of microfinance and inflation in developing countries. Therefore, we introduce … inflation threshold beyond which entrepreneurship collapses. We show that inflation affects the impact of microfinance on social …
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A structural analysis of credit contract theory -- The treatment of credit contract theory in the literature -- A standardisation of credit contract theory -- Joint liability and its potential to cause adverse selection instead of resolving it -- The perverse effect of joint liability and its...
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Group liability in microcredit purports to improve repayment rates through peer screening, monitoring, and enforcement …
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This paper describes a Hungarian social microcredit programme, called Kiútprogram and discusses the major lessons drawn …
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