Book ChapterDOI
Microfinance and Microenterprises’ Financing Constraints in Eastern Europe and Central Asia
Valentina Hartarska,Denis A. Nadolnyak,Thomas McAdams +2 more
- pp 22-35
TLDR
In this article, the authors study whether micro-finance institutions (MFIs) have improved the availability of credit to microenterprises in Eastern Europe and Central Asia (ECA) in the first half of the past decade.Abstract:
We study whether microfinance institutions (MFIs) have improved the availability of credit to microenterprises in Eastern Europe and Central Asia (ECA) in the first half of the past decade. Our approach is different from that of a typical microfinance impact study, which focuses on evaluating social or economic impact of a single MFI (or product). Our motivation is closer to the financial sector development microfinance ‘schism’ that requires MFIs to lend to poor entrepreneurs who already have the skills and the markets but lack credit (Conning, 1999). Countries in the ECA region are appropriate for such an approach because, during the study period, they had an educated but impoverished population and limited credit supply.read more
Citations
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Journal ArticleDOI
Financial Sustainability and Poverty Outreach: The Case of Microfinance Institutions in Eastern Europe and Central Asia
TL;DR: In this paper, the traditional micro-finance lending paradigm that adopts a two-pronged mission of financial sustainability and poverty outreach applies to young commercialized microfinance institutions in Eastern Europe and Central Asia.
Journal ArticleDOI
Investment Impact of Microfinance Credit in Ghana
TL;DR: In this paper, the authors examined the impact of the micro finance sector on small/micro enterprises in Ghana using 2007 BEEPS data and employed the financing constraints approach used by several other researchers in the study area to study if the presence of micro finance institutions has been successful in alleviating financing constraints associated with small enterprises.
Journal ArticleDOI
Entrepreneurship, Conflict, and Peace: The Role of Inclusion and Value Creation:
Jay Joseph,Harry J. Van Buren +1 more
TL;DR: In this article, the authors argue that conflict zone entrepreneurs have paradoxical impacts on stability: holding the ability both to foster peace but also to enhance conflict-zone economic activity in conflict zones.
Journal ArticleDOI
Entrepreneurship and Peacebuilding: A Review and Synthesis
TL;DR: In this article , a review of entrepreneurship in conflict-affected regions to integrate research from business and management with research from political science, international relations, and parallel domains is presented. And three views of entrepreneurship emerge: the destructive view, economic view, and social cohesion view, showing how entrepreneurship can concurrently create conflict but also potentially generate peace.
Book ChapterDOI
Entrepreneurship, Peace, and Institutions in the Middle East and North Africa Region
TL;DR: In this paper , the authors explain how entrepreneurship can generate either subsistence, destructive, or peace-positive outcomes in the conflict zones of the Middle East and North Africa (MENA) region.
References
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Journal ArticleDOI
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TL;DR: In this article, the authors draw on recent progress in the theory of property rights, agency, and finance to develop a theory of ownership structure for the firm, which casts new light on and has implications for a variety of issues in the professional and popular literature.
Journal ArticleDOI
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TL;DR: In this paper, a firm that must issue common stock to raise cash to undertake a valuable investment opportunity is considered, and an equilibrium model of the issue-invest decision is developed under these assumptions.
Posted ContentDOI
Credit Rationing in Markets with Imperfect Information.
Joseph E. Stiglitz,Andrew Weiss +1 more
TL;DR: In this paper, a model is developed to provide the first theoretical justification for true credit rationing in a loan market, where the amount of the loan and amount of collateral demanded affect the behavior and distribution of borrowers, and interest rates serve as screening devices for evaluating risk.
Posted Content
Corporate Financing and Investment Decisions When Firms Have Informationthat Investors Do Not Have
TL;DR: In this paper, a firm that must issue common stock to raise cash to undertake a valuable investment opportunity is considered, and an equilibrium model of the issue-invest decision is developed under these assumptions.
Posted Content
Capital-Market Imperfections and Investment
TL;DR: In this paper, the authors present a review of the development and challenges in this empirical research, and uses advances in models of information and incentive problems to motivate those developments and challenges, and discuss implications of this research program for analysis of investment on monetary policy and tax policy.