David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
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Journal of Business Ethics 88 (2):283 - 299 (2009)
Micro Credit (MC) programs lend money to poor borrowers using innovative mechanisms such as group lending under joint liability while successfully accounting for the presence of asymmetric information in underdeveloped financial markets. MC programs have achieved what the conventional financial institutions and the government have not been able to: lend to the poor, impressive loan recuperation, and a positive impact in poverty reduction. This article analyzes the performance of ALSOL, an MC program in Chiapas, México, for 2151 participants in urban and rural areas for the time period between July 2000 and July 2001. While loan recuperation is high (95%), administrative costs also remain high. Socially responsible lenders and donors play a key role in providing continuous funding to MC programs and assisting in reducing the level of poverty
|Keywords||Micro Credit poverty reduction joint liability and group lending social responsibility|
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References found in this work BETA
Maitreesh Ghatak & Timothy W. Guinnane, The Economics of Lending with Joint Liability: Theory and Practice.
Citations of this work BETA
Mariarosa Scarlata & Luisa Alemany (2010). Deal Structuring in Philanthropic Venture Capital Investments: Financing Instrument, Valuation and Covenants. [REVIEW] Journal of Business Ethics 95 (2):121 - 145.
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