This paper provides an overview of the various financial resources that existed in medieval Tirol to meet financial needs, using notary registers and court records from the 14 th century as sources. These provide ample evidence of an active capital and land market in rural areas, which offered...

This paper looks at ‘the other side’ of the much-celebrated microfinance revolution, namely its potential impact on the conditions of access to credit for nonmembers (the residual market). It uses a standard adverse selection framework to show the advantage of group lending as a single...

Les marchés du crédit et les marchés fonciers interagissent de plusieurs manières dans les pays en développement. L'analyse de ces interactions peut permettre de mieux comprendre le fonctionnement du processus d'allocation et d'accumulation dans l'agriculture, et les différents enjeux du...

This paper analyzes an individual lending credit market in a rural society, where potential borrowers have a dynamic incentive of strategic default, and a benevolent lender gives them a credible threat to cut future credit when loands are not repaid. A crucial issue is that social sanction of...

This paper analyzes an individual lending credit market in a rural society, where potential borrowers have a dynamic incentive of strategic default, and a benevolent lender gives them a credible threat to cut future credit when loands are not repaid. A crucial issue is that social sanction of...

Access to credit significantly influences land leasing decisions, and thus ultimately has a significant implication on ensuring efficiency in agricultural production. This paper attempts to examine the instrumental role of credit in ensuring efficiency in the context of West Bengal agriculture...