Credit

Money or Power? Financial Infrastructure and Optimal Policy

In response to the Covid-19 crisis, 186 countries implemented direct cash transfers to households, and 181 introduced in-kind programs that lowered the cost of utilities such as electricity, water, transport, and mobile money.

Working Paper
15 Feb 2022

Microfinance, Microentrepreneurship and Misallocation

Microfinance has been shown to have limited average impacts on incomes and profits in developing countries.

Working Paper
6 Dec 2021

The Microstructure of Corporate Bond Markets in Emerging Economies: Evidence from Africa

Using survey and interview data gathered from 13 countries in Africa, and bond issuance data from DataStream, this study reveals that corporate bond markets in Africa use reasonably modern trading infrastructure.

Research Note
29 Oct 2021

Skin in the Game: Microequity and Mentorship for Online Freelancing-based Microentrepreneurs in Bangladesh

In this pilot project, we demonstrate the exciting potential of online freelancing for improving the incomes of poor youth in rural Bangladesh.

Research Note
23 Apr 2021

Repayment Flexibility and Risk Taking: Experimental Evidence from Credit Contracts

A widely held view is that small firms in developing countries are prevented from making profitable investments by lack of access to credit and insurance markets. One solution is to provide repayment flexibility in credit contracts.

Working Paper
1 Apr 2021

Distinguishing Constraints on Financial Inclusion and Their Impact on GDP, TFP, and Inequality

A general equilibrium model featuring multiple realistic sources of financial frictions is developed to study how different constraints interact in equilibrium.

Journal Article
1 Jan 2021

Microfinance, Microentrepreneurship and Misallocation

This project evaluates to what extent heterogeneity in the take-up of microfinance and heterogeneity in its impacts on entrepreneurs explain the impact of microfinance on allocative inefficiency within occupational choice and investments.

Research Project
1 Jan 2021

Loan Contract Structure and Adverse Selection: Survey Evidence from Uganda

While adverse selection is an important theoretical explanation for credit rationing it is difficult to quantify empirically.

Journal Article
1 Apr 2020

Financial deepening through loan pricing transparency and its impacts

This project investigates the role of access to comparative loan information in consumer borrowing decisions, and how providing easy-to-process comparative information improves decision making.

Research Project
1 Aug 2019

Information Sharing in Trade Credit Markets: Evidence from Kenyan Retail Shops

In developing countries financial frictions hinder firm growth. Credit constraints result from poor contract enforcement and asymmetric information in the credit market.

Working Paper
19 May 2019

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