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...ending methodology used by the Grameen Bank of Bangladesh, can use peer pressure and ‘social collateral’ to lend successfully to poor borrowers (for recent surveys, see Ghatak and Guinnane, 1999, and =-=Morduch, 1999-=-a). Empirically, such schemes have an impressive track record, with a repayment rate typically well over 90%, and an unusually large capacity to become financially self-sustaining. However, developmen...

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...and so may be subject to measurement error. However, in developing country surveys, reported expenditures are generally considered more reliable than reported income (for a useful general survey, see =-=Strauss and Thomas, 1998-=-). In addition, consumption provides a better measure of family welfare. All values are converted to 1994 units of local currency. Project HOPE reports that the presence of diarrhea is the most reliab...

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...ity and improved the nutritional status of children (Marek, 1992). There is some evidence that lack of access to credit can result in lower school attendance and poorer educational outcomes (see esp. =-=Jacoby, 1994-=-). Moreover, there is some evidence that the income elasticity of the demand for calories is quite low, though this is controversial. Estimated elasticities range from 0.01 to 0.86, with most under 0....

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...ce schemes, such as the group lending methodology used by the Grameen Bank of Bangladesh, can use peer pressure and ‘social collateral’ to lend successfully to poor borrowers (for recent surveys, see =-=Ghatak and Guinnane, 1999-=-, and Morduch, 1999a). Empirically, such schemes have an impressive track record, with a repayment rate typically well over 90%, and an unusually large capacity to become financially self-sustaining. ...

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...d, these funds may be provided at below-market interest rates; and NGOs’ time and other resources provided are generally not repaid. Thus village banks do enjoy a significant subsidy (Morduch, 1999b; =-=Khandker, Khalily, and Khan, 1995-=-). Nevertheless, the success of microfinance programs has led major development agencies to embrace the concept and expand funding. The Microcredit Summit of February, 1997, which concluded with a sta...

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...ter, 1995). A 1989 UN study concluded that the harvest from an irrigated rice project in the Gambia reduced seasonal fluctuations in food availability and improved the nutritional status of children (=-=Marek, 1992-=-). There is some evidence that lack of access to credit can result in lower school attendance and poorer educational outcomes (see esp. Jacoby, 1994). Moreover, there is some evidence that the income ...

Citation Context

...ending methodology used by the Grameen Bank of Bangladesh, can use peer pressure and ‘social collateral’ to lend successfully to poor borrowers (for recent surveys, see Ghatak and Guinnane, 1999, and =-=Morduch, 1999-=-a). Empirically, such schemes have an impressive track record, with a repayment rate typically well over 90%, and an unusually large capacity to become financially self-sustaining. However, developmen...

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...cking; and that credit provision may not be sufficient for improved incomes, because poor health or malnutrition, of either the mother or her children, may curtail labor market participation (Project =-=HOPE, 1994-=-). At the level of the providing agency, combining credit and health or education programs may allow for joint collection and use of information on villagers, among other spillovers. Such scale econom...