This paper surveys recent research on micro-finance and suggests directions for future research. New empirical evidence has emerged, and new theoretical models have resolved some issues. The paper selectively examines recent findings, particularly theoretical and empirical works that deal with...

This paper surveys recent research on microfinance and suggests directions for future research. New empirical evidence has emerged, and new theoretical models have resolved some issues. The paper selectively examines recent findings, particularly theoretical and empirical works that deal with...

This paper explores the consequences of nonlinear wealth dynamics for the formation of bilateral credit arrangements to help manage idiosyncratic risk. Using original data on expected wealth dynamics, social networks and informal loans among southern Ethiopian pastoralist households, we find...

The case presents the management dilemmas of a new institution in an undeveloped microfinance market in Latin America. Supported by a globally-recognized industry player, it is the result of the efforts of two fledgling local entrepreneurs with a business model they believe can achieve a...