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Expansion and welfare in microfinance: a screening model
(Economic Modelling, 2016-02)
The expansion of microfinance has triggered concerns of rising indebtedness, and higher default and interest rates. Using a screening model, we show that even if interest and default rates increase due to expansion, borrower ...
Risk diversification through multiple group membership in microfinance
(Applied Economics Letters, 2014)
We consider group formation in the joint liability setting in microfinance. Joint liability imposes additional liability of having to repay for group partners should they fail to repay. Multiple group membership allows ...