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| Gine, Xavier; Jakiela, Pamela; Karlan, Dean S.; Morduch, Jonathan. |
| Microfinance has been heralded as an effective way to address imperfections in credit markets. From a theoretical perspective, however, the success of microfinance contracts has puzzling elements. In particular, the group-based mechanisms often employed are vulnerable to free-riding and collusion, although they can also reduce moral hazard and improve selection. We created an experimental economics laboratory in a large urban market in Lima, Peru and over seven months conducted eleven different games that allow us to unpack microfinance mechanisms in a systematic way. We find that risk-taking broadly conforms to predicted patterns, but that behavior is safer than optimal. The results help to explain why pioneering microfinance institutions have been moving... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Financial Economics. |
| Ano: 2006 |
URL: http://purl.umn.edu/28520 |
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| Morduch, Jonathan; Sharma, Manohar P.. |
| The worsening degradation of natural resources urgently requires the adoption of more sustainable management practices. This need has led to growing interest and investment in monitoring systems for tracking the condition of natural resources. Although grounded in concepts of sustainability, the application of monitoring systems has progressed little beyond the identification and measurement of large numbers of potentially interesting indicators. Most monitoring activities are also passive and do not lead to the changes needed to rectify the problems they identify. Too often monitoring becomes an end in itself and an expensive claim on public funds. This study is concerned with the design of monitoring systems that have direct relevance for the management... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Public Economics. |
| Ano: 2001 |
URL: http://purl.umn.edu/16414 |
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