Economic Quarterly

1997

 

Fall 1997

Group Lending and Financial Intermediation: An Example

Edward S. Prescott

Uncollateralized lending to jointly liable groups of individuals has proven to be a successful way of delivering credit to the poor in less-developed countries. Currently, such financial arrangements are being tried in the United States. The author develops a financial intermediation model in order to analyze the portability of group lending to the United States and the connection between group lending and the rest of the financial intermediation sector.



Topics: Lending
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