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On the Viability of Group Lending when Microfinance Meets the Market: A Reconsideration of the Besley--Coate Model

Arnold, Lutz G., Reeder, Johannes and Steger, Susanne (2013) On the Viability of Group Lending when Microfinance Meets the Market: A Reconsideration of the Besley--Coate Model. Journal of Emerging Market Finance 12, pp. 59-106.

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Date of publication of this fulltext: 26 Aug 2016 12:53

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Abstract

Besley and Coate (1995) analyse the impact of joint liability and social sanctions on repayment rates when repayment enforcement is imperfect. Motivated by the microfinance industry’s move towards markets, we conduct an equilibrium analysis of the Besley–Coate model. We find that individual loan contracts may be used in market equilibrium, even though group lending entails the higher repayment ...

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Item type:Article
Date:2013
Institutions:Business, Economics and Information Systems > Institut für Volkswirtschaftslehre und Ökonometrie > Lehrstuhl für Theoretische Volkswirtschaft (Prof. Dr. Lutz Arnold)
Identification Number:
ValueType
10.1177/0972652712473403DOI
Classification:
NotationType
G21Journal of Economics Literature Classification
Keywords:Microfinance, group lending, enforcement, social capital, social sanctions
Dewey Decimal Classification:300 Social sciences > 330 Economics
Status:Published
Refereed:Yes, this version has been refereed
Created at the University of Regensburg:Yes
Item ID:34495
Owner only: item control page

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