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Group lending and financial intermediation: an example

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  • Edward Simpson Prescott

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  • Edward Simpson Prescott, 1997. "Group lending and financial intermediation: an example," Economic Quarterly, Federal Reserve Bank of Richmond, issue Fall, pages 23-48.
  • Handle: RePEc:fip:fedreq:y:1997:i:fall:p:23-48
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    References listed on IDEAS

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    1. Itoh Hideshi, 1993. "Coalitions, Incentives, and Risk Sharing," Journal of Economic Theory, Elsevier, vol. 60(2), pages 410-427, August.
    2. Boyd, John H. & Smith, Bruce D., 1992. "Intermediation and the equilibrium allocation of investment capital : Implications for economic development," Journal of Monetary Economics, Elsevier, vol. 30(3), pages 409-432, December.
    3. Zeldes, Stephen P, 1989. "Consumption and Liquidity Constraints: An Empirical Investigation," Journal of Political Economy, University of Chicago Press, vol. 97(2), pages 305-346, April.
    4. Evans, David S & Jovanovic, Boyan, 1989. "An Estimated Model of Entrepreneurial Choice under Liquidity Constraints," Journal of Political Economy, University of Chicago Press, vol. 97(4), pages 808-827, August.
    5. Krasa, Stefan & Villamil, Anne P, 1992. "A Theory of Optimal Bank Size," Oxford Economic Papers, Oxford University Press, vol. 44(4), pages 725-749, October.
    6. Robert M. Townsend, 1994. "Community development banking and Financial Institutions Act: a critique with recommendations," Proceedings 49, Federal Reserve Bank of Chicago.
    7. Edward Simpson Prescott & Robert M. Townsend, 1996. "Theory of the firm: applied mechanism design," Working Paper 96-02, Federal Reserve Bank of Richmond.
    8. Ramakrishnan, Ram T S & Thakor, Anjan V, 1991. "Cooperation versus Competition in Agency," Journal of Law, Economics, and Organization, Oxford University Press, vol. 7(2), pages 248-283, Fall.
    9. Abhijit V. Banerjee & Timothy Besley & Timothy W. Guinnane, 1994. "Thy Neighbor's Keeper: The Design of a Credit Cooperative with Theory and a Test," The Quarterly Journal of Economics, Oxford University Press, vol. 109(2), pages 491-515.
    10. Lewis M. Segal, 1995. "Flexible employment; composition and trends," Working Paper Series, Macroeconomic Issues 95-19, Federal Reserve Bank of Chicago.
    11. Douglas W. Diamond, 1996. "Financial intermediation as delegated monitoring: a simple example," Economic Quarterly, Federal Reserve Bank of Richmond, issue Sum, pages 51-66.
    12. Besley, Timothy, 1995. "Savings, credit and insurance," Handbook of Development Economics,in: Hollis Chenery & T.N. Srinivasan (ed.), Handbook of Development Economics, edition 1, volume 3, chapter 36, pages 2123-2207 Elsevier.
    13. Stiglitz, Joseph E, 1990. "Peer Monitoring and Credit Markets," World Bank Economic Review, World Bank Group, vol. 4(3), pages 351-366, September.
    14. Philip Bond & Robert M. Townsend, 1996. "Formal and informal financing in a Chicago neighborhood," Economic Perspectives, Federal Reserve Bank of Chicago, issue Jul, pages 3-27.
    15. Hollis, Aidan & Sweetman, Arthur, 1998. "Microcredit in Prefamine Ireland," Explorations in Economic History, Elsevier, vol. 35(4), pages 347-380, October.
    16. Aruna Srinivasan, 1994. "Intervention in credit markets and development lending," Economic Review, Federal Reserve Bank of Atlanta, issue May, pages 13-27.
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    Cited by:

    1. Ghatak, Maitreesh & Guinnane, Timothy W., 1999. "The economics of lending with joint liability: theory and practice," Journal of Development Economics, Elsevier, vol. 60(1), pages 195-228, October.
    2. Isik, Haci B. & Sohngen, Brent, 2003. "Performance-Based Voluntary Group Contracts For Nonpoint Source Pollution," 2003 Annual meeting, July 27-30, Montreal, Canada 22064, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Leonardo Becchetti & Fabio Pisani, 2010. "Microfinance, subsidies and local externalities," Small Business Economics, Springer, vol. 34(3), pages 309-321, April.
    4. Jonathan Morduch, 1999. "The Microfinance Promise," Journal of Economic Literature, American Economic Association, vol. 37(4), pages 1569-1614, December.
    5. Gustavo Barboza & Sandra Trejos, 2009. "Micro Credit in Chiapas, México: Poverty Reduction Through Group Lending," Journal of Business Ethics, Springer, vol. 88(2), pages 283-299, September.
    6. Samuel Lee & Petra Persson, 2016. "Financing from Family and Friends," Review of Financial Studies, Society for Financial Studies, vol. 29(9), pages 2341-2386.
    7. Hollis, Aidan & Sweetman, Arthur, 1998. "Microcredit: What can we learn from the past?," World Development, Elsevier, vol. 26(10), pages 1875-1891, October.
    8. Woerz, Julia, 1999. "Group Lending and Its Implications in Credit Markets for Poor People," Transition Economics Series 12, Institute for Advanced Studies.
    9. Leonardo Becchetti, 2013. "Ethical finance: an introduction," Chapters,in: Handbook on the Economics of Reciprocity and Social Enterprise, chapter 13, pages 134-143 Edward Elgar Publishing.

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    Keywords

    Bank loans ; Financial institutions;

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