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Mission Drift in Microcredit: A Contract Theory Approach

hal.structure.identifierCentre de recherche en économie et management [CREM]
hal.structure.identifierThéorie économique, modélisation et applications [THEMA]
dc.contributor.authorBiancini, Sara
hal.structure.identifierCEntre de REcherches en MAthématiques de la DEcision [CEREMADE]
hal.structure.identifierLaboratoire d'Economie de Dauphine [LEDa]
dc.contributor.authorEttinger, David
hal.structure.identifierLaboratoire d'Economie de Dauphine [LEDa]
hal.structure.identifierDéveloppement, institutions et analyses de long terme [DIAL]
hal.structure.identifierInstitut de Recherche pour le Développement (IRD)
dc.contributor.authorVenet, Baptiste
dc.date.accessioned2019-10-03T09:00:08Z
dc.date.available2019-10-03T09:00:08Z
dc.date.issued2018
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/19987
dc.language.isoenen
dc.subjectMicrofinanceen
dc.subjectFunding Institutionsen
dc.subjectMission Driften
dc.subjectContract Theoryen
dc.subject.ddc338.9en
dc.subject.classificationjelO.O1.O12en
dc.subject.classificationjelO.O1.O16en
dc.subject.classificationjelG.G2.G21en
dc.titleMission Drift in Microcredit: A Contract Theory Approachen
dc.typeDocument de travail / Working paper
dc.description.abstractenWe analyze the relationship between Microfinance Institutions (MFIs) and external funding institutions, with the aim of contributing to the debate on “mission drift” (the tendencyfor MFIs to lend money to wealthier borrower rather than to the very poor). We suggestthat funding institutions build incentives for MFIs to choose the adequate share of poorerborrowers and to exert effort to increase the quality of the funded projects. We show thatasymmetric information on both the effort level and its cost may increase the share of richerborrowers. However the unobservability of the cost of effort has an ambiguous effect. Itpushes efficient MFIs to serve a higher share of poorer borrowers, while less efficient onesdecrease their poor outreach.en
dc.publisher.nameDocument de travail du LEDaen
dc.identifier.citationpages30en
dc.relation.ispartofseriestitleDocument de travail du LEDaen
dc.contributor.countryeditoruniversityotherFRANCE
dc.subject.ddclabelCroissance et développement économiquesen
dc.identifier.citationdate2018
dc.description.ssrncandidatenonen
dc.description.halcandidateouien
dc.description.readershiprechercheen
dc.description.audienceInternationalen
dc.date.updated2019-09-23T14:10:30Z
hal.identifierhal-02304352*
hal.version1*
hal.update.actionupdateFiles*
hal.author.functionaut
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