Gertler, Paul J.; Green, Brett; Li, Renping; Sraer, David - National Bureau of Economic Research - 2025
Pay-as-you-go (PAYGo) financing is a novel contract that has recently become a popular form of credit, especially in low- and middle-income countries (LMICs). PAYGo financing relies on lockout technology that enables the lender to remotely disable the flow benefits of collateral when the...