Lending to the rural poor in developing economies, although crucial from the perspective of poverty management, is often subjected to severe informational problems. The literature on group lending with joint liability attempts to resolve these problems by making failure more costly for the...

In this paper we examine whether students' and teachers' identity play any role in the learning outcome of students. Specifically, we ask if a student benefits by learning from a teacher of her same gender. Unlike the existing literature which explains such interaction through role model effect...

We analyze a limited liability credit market where the borrowers need to borrow to implement their chosen projects with uncertain outcome. We allow borrowers to invest in resolution of the uncertainty in the project outcome before implementing the project. Our paper provides a complete...