One of the decisive but often overlooked factors in the creation of the East Asian ‘economic miracle’ was the part played by a variety of heterodox sub-national state, community and cooperatively owned and controlled financial systems, institutions and lending models. Beginning with Japan...

This paper explores how equity market volatility are related with the Index of Economic Freedom for 22 emerging countries over 1995-2010 by considering the impacts of financial crisis. Consistent with theory, we find the overall economic freedom index and it components exert significant impacts...

We study how wholesalers assess borrower credit risk and extend trade credit to retailers in economies where formal market institutions, such as financial reporting systems, auditing, and courts, are nonexistent or function poorly. Using the setting of a large market in India, we find that...

In recognizing on one hand the importance of the micro and small enterprise (MSE) sector for the growth and development of economies in the Pacific subregion and on the other, the financing constraints of the sector, the authors surveyed a group of MSEs in a Pacific island country and found that...

In recent years some critiques toward the efficiency of foreign aid have appeared in the economic literature. The allocation of foreign aid toward corrupt governments induces the failure of development policies. Donors have to control the use of aid in order to avoid the risk of kleptocracy. Our...

Within a relatively short time, perhaps just a decade, microfinance has gone from being hero to zero in the development discourse: from being lauded as the silver bullet to solve the problems of development and poverty reduction, to being derided as the progenitor of financial instability and...

This study investigates the determinants of foreign institutional investors' Investment in Indian by finding the relationship between the foreign institutional investment and financial and real economy variables namely, return on NIFTY, volume of NSE, index of industrial production, wholesale...

Private for-profit companies are playing an ever-larger role in the microcredit industry. The volatile combination of profit seeking companies, minimal competition, and vulnerable, ill-informed, ill-educated borrowers has opened up dangerous potential for exploiting the poor. Expecting...

American Indian Tribes and Indigenous peoples around the world are among the poorest groups in their countries. Economic development is an absolutely crucial issue for these governments and their people. Recently, two different efforts have been undertaken to create beneficial development based...

Traders operating in informal economies rarely use financial information in their credit allocation decisions. Using a combination of survey questions and a hypothetical choice experiment, we study the frictions impeding traders’ financial information use in a bazaar economy. Based on...