Improving the livelihoods of poor households and transitioning more women back to the labor force is a major challenge in South Asia. Self-employment promoted through women's groups has often been cited as a promising intervention towards this end. However, the evidence on the impact of such...

High transaction and contracting costs are often thought to create credit and savings market failures in developing countries. The microfinance movement grew largely out of business process innovations and subsidies that reduced these costs. We examine an alternative approach, one that infuses...