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The Miracle of Microfinance? Evidence from a Randomized Evaluation
This paper reports on the first randomized evaluation of the impact of introducing the standard microcredit group-based lending product in a new market. In 2005, half of 104 slums in Hyderabad, IndiaExpand
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The Miracle of Microfinance? Evidence from a Randomized Evaluation
Microcredit has spread extremely rapidly since its beginnings in the late 1970s, but whether and how much is helps the poor is the subject of intense debate. This paper reports on the …rst randomizedExpand
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Do Credit Constraints Limit Entrepreneurship? Heterogeneity in the Returns to Microfinance
Can improved access to credit jump-start microenterprise growth? We examine subjects in urban Hyderabad, India, six years after microfinance–an intervention commonly believed to lower the cost ofExpand
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Distinguishing barriers to insurance in Thai villages
In both developing and developed countries, consumption insurance is incomplete: consumption co-moves with income. Models with limited commitment, moral hazard, and hidden income have been proposedExpand
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Kinship and Financial Networks, Formal Financial Access, and Risk Reduction
Kinship networks are beneficial for smoothing consumption and investment, but the channels are not well understood. We study the financing devices used for consumption and investment by ThaiExpand
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Measuring the Equilibrium Impacts of Credit: Evidence from the Indian Microfinance Crisis
In October 2010, the state government of Andhra Pradesh, India issued an emergency ordinance, bringing microfinance activities in the state to a complete halt and causing a nation-wide shock to theExpand
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Can Microfinance Unlock a Poverty Trap for Some Entrepreneurs?
Can microcredit help unlock a poverty trap for some people by putting their businesses on a different trajectory? Could the small microcredit treatment effects often found for the average householdExpand
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Relaxing Migration Constraints for Rural Households
This paper exploits two unique features of China's history to study the effects of access to internal migration: reforms to the household registration (hukou) system, and historical migration flows.Expand
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INFORMAL INSURANCE, SOCIAL NETWORKS, AND SAVINGS ACCESS: EVIDENCE FROM A LAB EXPERIMENT IN THE FIELD
Social networks are understood to play an important role in smoothing consumption risk, particularly in developing countries where formal contracts are limited and financial development is low. YetExpand
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Social Networks as Contract Enforcement: Evidence from a Lab Experiment in the Field
Lack of well-functioning formal institutions leads to reliance on social networks to enforce informal contracts. Social proximity and network centrality may affect cooperation. To assess the extentExpand
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