• Shawn Cole


Liability Structure in Small-Scale Finance: Evidence from a Natural Experiment. Shawn Cole, September 2013, Paper. "Microfinance, the provision of small individual and business loans, has experienced dramatic growth, reaching over 150 million borrowers worldwide. Much of the success of microfinance has been attributed to attempts to overcome the challenges of information asymmetries in uncollateralized lending. However, very little is known about the optimal contract structure of these loans, and there is substantial variation across lenders, even within a particular setting. This paper exploits..." May require purchase or user account. Link verified August 21, 2014