Many of the poor borrow, more save, and most of them demand insurance products or related substitutes. However, most of these financial products, especially those catering towards the need for consumption stabilization are only offered by the informal market. Microfinance Institutions (MFIs)...

Since the 1970s, group-lending programmes have been promoted in many developing countries. Based on a survey that was conducted in Madagascar during 1992, the author presents the major characteristics of the formation, structure and conduct of the group-based credit schemes, makes an econometric...