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Summary

Social Finance summary and results

Authors
Affiliations
Hunter College + The Graduate Center, CUNY
New York University
Financial Access Initiative (FAI)

Abstract

A summary of main results of the paper.

Background

  • Builds on models of active monitoring including Holmstrom & Tirole (1997), Conning (1999) and Tirole (2006)

Collateral and Monitoring

Source:Social Finance
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Figure 1:Monitoring expands access.

Source:Social Finance
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Figure 1:Monitoring expands access.

Source:Social Finance
<Figure size 750x550 with 1 Axes>

Monitoring expands access.

Source:Social Finance
<Figure size 600x400 with 1 Axes>

Monitoring expands access.

References
  1. Holmstrom, B., & Tirole, J. (1997). Financial Intermediation, Loanable Funds, and the Real Sector. Quarterly Journal of Economics, 112(3), 663–691.
  2. Conning, J. H. (1999). Outreach, Sustainability and Leverage in Monitored and Peer-Monitored Lending. Journal of Development Economics, 60(1), 51–77.
  3. Tirole, J. (2006). The Theory of Corporate Finance. Princeton University Press.
Model
Moral hazard and limited liability