A large number of financial policies embed economic exchange in Microfinance and Self Help groups that comprise a small number of members from very similar socio-economic backgrounds. Consumption growth may, however, require more expansive networks that promote “vertical” ties across...

Evaluations of group savings and lending programs have largely focused on average impacts, rather than distributional impacts -- finding modest effects on long-term economic well-being. In this paper, we exploit the randomized roll-out of a self-help group lending program in rural Bihar, India...