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Micro-microcrédit et asymétries d’information : cas du Maroc
[INFORMATION asymmetries and microcredit: The Moroccan case]

  • Abdelhamid, El Bouhadi
  • Omar, Essardi

In this paper we apply the Principal/Agent theory in case of microcredit granted to the Moroccan micro-companies. The practice reveals us that a part of the receipted credits is diverted from its initial objective. Indeed, a situation of information asymmetries linked with adverse selection and moral hazard can be noticed. Given that the Agent behavior (the debtor) is unobservable, the Principal (the Creditor) cannot select every time the good types of Agents.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 20080.

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Date of creation: 15 May 2007
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Handle: RePEc:pra:mprapa:20080
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  1. Zingales, Luigi, 2000. "In Search of New Foundations," CEPR Discussion Papers 2551, C.E.P.R. Discussion Papers.
  2. Ghatak, M. & Guinnane, T.W., 1998. "The Economics of Lending with Joint Liability: Theory and Practice," Papers 791, Yale - Economic Growth Center.
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  8. Alessandro Fedele, 2006. "Joint Liability Lending In Microcredit Markets With Adverse Selection: A Survey," The IUP Journal of Bank Management, IUP Publications, vol. 0(2), pages 55-63, May.
  9. Fama, Eugene F, 1980. "Agency Problems and the Theory of the Firm," Journal of Political Economy, University of Chicago Press, vol. 88(2), pages 288-307, April.
  10. repec:dgr:rugsom:01e09 is not listed on IDEAS
  11. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
  12. Ghatak, Maitreesh, 1999. "Group lending, local information and peer selection," Journal of Development Economics, Elsevier, vol. 60(1), pages 27-50, October.
  13. Gangopadhyay, Shubhashis & Lensink, Robert, 2001. "Joint liability lending: a note," Research Report 01E09, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
  14. Rui Albuquerque & Hugo A. Hopenhayn, 2004. "Optimal Lending Contracts and Firm Dynamics," Review of Economic Studies, Oxford University Press, vol. 71(2), pages 285-315.
  15. Peter DeMarzo & Darrell Duffie, 1999. "A Liquidity-Based Model of Security Design," Econometrica, Econometric Society, vol. 67(1), pages 65-100, January.
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