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...

This chapter tries to synthesize the progress that economists have made towards understanding various aspects of the role of religion in human societies from a development economics perspective. We start by reviewing the contributions that consider religious beliefs as exogenously given and try...