We study theoretically and empirically the demand for microcredit under different liability arrangements and risk … environments. A theoretical model shows that the demand for joint-liability loans can exceed that for individual-liability loans … when risk-averse borrowers value their long-term relationship with the lender. Joint liability then offers a way to …

We study theoretically and empirically the demand for micro-credit under different liability arrangements and risk … environments. A simple theoretical model shows that the demand for joint-liability loans can exceed that for individual-liability … loans when risk-averse borrowers value their long-term relationship with the lender. Joint liability then offers a way to …

investigate determinants of credit risk for agricultural loans disbursed by a Microfinance Institution (MFI) in Azerbaijan. In …-farmers, which is surprising because the opposite is widely believed. We furthermore find that the level of collateral has a negative …

exogenous change in the liability structure offered by a microfinance program in India, which shifted from individual to group …Microfinance, the provision of small individual and business loans, has experienced dramatic growth, reaching over 150 … million borrowers worldwide. Much of the success of microfinance has been attributed to attempts to overcome the challenges of …