Ideas to action: independent research for global prosperity
Research
Innovative, independent, peer-reviewed. Explore the latest economic research and policy proposals from CGD’s global development experts.
POLICY PAPERS
May 09, 2024
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May 07, 2024
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April 23, 2024
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Research
WORKING PAPERS
January 29, 2007
Information asymmetries--which occur when one party to a transaction has more or better information than the other party--can cause inefficiency, over-investment, or poverty traps. Unfortunately, they are difficult to identify in practice. In this working paper, CGD non-resident fellow Dean Karlan...
WORKING PAPERS
January 29, 2007
Policymakers often urge microfinance institutions to increase interest rates to eliminate reliance on subsidies. This makes sense if the poor will borrow regardless of interest rates: then micro lenders increase profitability without reducing the poor's access to credit. But there is little evidenc...
WORKING PAPERS
January 29, 2007
Group liability--wherein individuals are both borrowers and guarantors of other client's loans--is often described as the key innovation that led to the explosion of microcredit. It is thought to create incentives for peers to screen, monitor and enforce each other's loans. But some argue that grou...
WORKING PAPERS
October 13, 2006
Microfinance is a widely celebrated strategy for helping poor people in the developing world. Leading microfinance institutions, including the Nobel Peace Prize-winning Grameen Bank, reach millions of clients. CGD research fellow David Roodman and Uzma Qureshi analyze why some microfinance instituti...
WORKING PAPERS
March 20, 2006
With foreign investment in the U.S. increasingly in the spotlight, this working paper by William Cline explores the U.S. external deficit and the fact that the U.S. relies on foreign lending to finance its trade deficit. Cline emphasizes the dangers of a hard landing for the U.S., and why this would...
WORKING PAPERS
July 13, 2005
This study examines the impact of the principal financial crises in emerging markets in recent years on the incidence of poverty in the countries in question. The growth impact is first identified by comparing average per capita growth in the two years prior to the crisis to that in the crisis year ...
WORKING PAPERS
July 13, 2005
Public policy on financial crises in emerging markets has implicitly been grounded in economic theory calling for lender-of-last-resort intervention when the country is solvent, and on theory recognizing that reputational damage is the quasi-collateral enabling lending to sovereigns with no physical...