Karlan, Dean; Gine, Xavier; Morduch, Jonathan; Jakiela, … - Economic Growth Center, Economics Department - 2006
Microfinance has been heralded as an effective way to address imperfections in credit markets. From a theoretical … perspective, however, the success of microfinance contracts has puzzling elements. In particular, the group-based mechanisms often … different games that allow us to unpack microfinance mechanisms in a systematic way. We find that risk-taking broadly conforms …