Microfinance with divisible investment projects

Pisani FabioBecchetti Leonardo
CEIS Working Papers
In this paper we examine how the traditional results of the microfinance literature change under the project divisibility assumption. We show that, under standard debt contracts, loan size and borrower profits are unchanged when lending to uncollateralize
Number: 242
Date: Sunday, October 1, 2006
Revision Date: Sunday, October 1, 2006