This paper reports the results of an experiment testing a fundamental assumption in Stiglitz and Weiss' (1981) model of credit rationing: that defaulting borrowers are associated with investment in risky projects. Through an artefactual field experiment with 200 Bolivian microfinance borrowers,...

The study uses a cluster-randomized trial among 1,578 children from 979 households in rural El Salvador to test the impacts of TOMS shoe donations on children's time allocation, school attendance, health, self-esteem, and aid dependency. Results indicate high levels of usage and approval of the...

This research estimates the impact of international child sponsorship on adult income and wealth of formerly sponsored children using data on 10,144 individuals in six countries. To identify causal effects, an age-eligibility rule followed from 1980 to 1992 is utilized that limited sponsorship...