China frequently suffers from weather related natural disasters and is a source of wide-spread systemic risk throughout large swaths of China. During these periods farmers crops are at risk and for a largely poor population few can afford the turmoil to livelihoods that goes along with drought....

In this study we investigated informal transactions amongst Chinese farmers through the lens of social interactions. Along these lines we developed a theoretical model to investigate kindness and the conditions under which a fairness equilibrium in informal credit markets might operate. We use...

We use a multiyear multiarm randomized controlled trial implemented among 1053 smallholders in Kenya to evaluate ex-ante investment and ex-post productivity and welfare benefits of risk-contingent credit (RCC), comparing it with traditional credit (TC). We rely on local average treatment effects...