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Microfinance contracts have enormous economic and welfare significance. We study, theoretically and empirically, the …
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Flexible repayment schedules allow borrowers to invest in profitable yet risky projects, but practitioners fear they erode repayment morale. We study repayment choices in rigid and flexible loan contracts that allow discretion in repayment timing. To separate strategic repayment choices from...
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The rapid adoption of mobile money transfer (MMT) in East Africa, and Kenya in particular, is facilitating a nexus of …
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