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We document cross-country dierences in informal activity, government policies and institutions using a data set covering 118 countries. Five key facts emerge: better institutions are associated with l...
We examine the heterogeneous effects of globalization on the interest rate setting by microfinance institutions (MFIs) around the world. We consider MFIs as a mechanism to overcome the institutional v...
This paper explores the use of informal credit as a strategy for managing risks by market women in northern Ghana. A broad concept of the costs of risk management strategies is introduced and encompas...
Abstract: Interest prohibition theory concerns theoretical aspects of interest prohibition. We attempt to lay down some aspects of interest prohibition theory wrapped in a larger framework of informal...
We consider a small open Harris-Todaro (1970) economy with a rural foreign enclave and urban informal sector. We introduce consumption-efficiency relation to explain the simultaneous existence of inf...
The article supplies the information concerning the transformation of informal MFIs to formal ones (Srnec, Havrland 2006). It underlines some risks of finance investors to the microfinancial segment o...
We consider a small open Harris-Todaro (1970) economy with a rural foreign enclave and urban informal sector. We introduce consumption-efficiency relation to explain the simultaneous existence of info...
In 1898, Martha Herriman, proprietor of a millinery business in San Jose, California, declared bankruptcy in federal district court,listing five people from whom she had borrowed a total of $976.While...

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