Mfi Handout -1 - Pp C253 – Are C253 Access to Financial Services in Development I. the Lending Problem
نویسنده
چکیده
∑ Loans are transactions over time, with risk fi Need for insurance fi MH problems Risk: Borrower needs insurance (limited liability), as even loans for good projects cannot be repaid in bad years. But lender cannot provide insurance as he cannot monitor genuine failures from false claims ∫ Problem of enforcement. (Moral Hazard (MH) in repayment). Limited liability induces risk taking behavior need for monitoring (MH in project choice)
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