Information asymmetry in the anonymous informal finance market drives the lenders to screen the borrowers by disclosed information. Using data from a powerful online peer-to-peer lending platform, we study the effects of formal financing records on successful funding and default outcomes in the...

This paper studies whether online marketplace lending expands access to financial services for micro-, small- and medium-sized enterprises (MSMEs) and investigates their economic outcomes. Using data from one of the most prominent online lending marketplaces in China, we find that MSMEs are less...