Microcredit in Prefamine Ireland

  title={Microcredit in Prefamine Ireland},
  author={Aidan Hollis and Arthur Sweetman},
Hundreds of independent, local, quasi-charitable microcredit societies, or "loan funds," were lending to as many as 20% of Irish households in the mid-nineteenth century. Monitored by a central regulatory authority, funds in the system were successful in mitigating informational, moral hazard and enforcement problems, and thus operated at a surplus in a market where intermediation by the banks seems not to have been possible. Created under special legislation, their goal was to relieve poverty… CONTINUE READING