Over the past decade, the repressive legal and regulatory environment in transition economies has received considerable attention in the literature. In Russia, this framework has resulted in an environment in which rules and regulations govern almost all aspects of economic activity. The...

The impact of public and private transfers on credit markets has not been sufficiently studied and understanding any spill over effects caused by these transfers may be useful for policy makers. This paper estimates the impact of Conditional Cash Transfers (CCTs) and remittances received by poor...

This paper discuss the main results from a household survey of Bolivian microfinance clients, their experience with microfinance institutions and their strategies for copping with shocks, in the overindebtedness episode experienced by the Bolivian Financial System in the 1997-2001 period

Using numerical approximations of infinite-horizon, dynamic, stochastic models of farm-household behavior, we investigate the influence of several dimensions of financial development in overcoming poverty traps, through the sustained adoption of advanced production technologies. We explore...

Published research on credit counseling and mortgage termination is surprisingly scarce, despite substantial growth in this industry. While the purpose of counseling is to help low-income borrowers to handle better debt, and thus prevent default, counseling could also improve these borrowers...

This paper investigates the farm-household decisions of adopting and abandoning higher-productivity technologies, under different scenarios of inclusion into the credit and deposit markets. The financial environment is further characterized by shallow financial markets, represented by a...

The literature suggests Conditional Cash Transfers (CCT) and remittances may protect poor households from income risk. We present a theoretical framework that explores how this ‘insurance’ effect can change households’ decision to apply for a loan via changes in credit demand and supply....