Recently NGOs have begun to be regarded as ideal providers of credit to small and micro businesses. The paper investigates whether this claim is justified and how the co-operation between donor institutions and NGOs should be structured. It reports the main results of an empirical investigation...

The turbulence in the international financial markets in the 1980s inspired the idea that independent academics might be in a position to make a contribution to the improvement of regulation and thus ultimately also to the stability of the national financial sector in the United States. This led...

A financial system can only perform its function of channelling funds from savers to investors if it offers sufficient assurance to the providers of the funds that they will reap the rewards which have been promised to them. To the extent that this assurance is not provided by contracts alone,...