The Economics of Microfinance

Beatriz Armendariz de Aghion Jonathan Morduch

Beatriz Armendariz de Aghion and Jonathan Morduch

The MIT Press Cambridge, Massachusetts London, England

© 2005 Massachusetts Institute of Technology

All rights reserved. No part of this book may be reproduced in any form by any electronic or mechanical means (including photocopying, recording, or information storage and retrieval) without permission in writing from the publisher.

MIT Press books may be purchased at special quantity discounts for business or sales promotional use. For information, please email [email protected] or write to Special Sales Department, The MIT Press, 5 Cambridge Center, Cambridge, MA 02142.

This book was set in Palatino by SNP Best-set Typesetter Ltd., Hong Kong. Printed and bound in the United States of America.

Library of Congress Cataloging-in-Publication Data

Armendariz de Aghion, Beatriz.

The economics of microfinance / Beatriz Armendariz de Aghion, Jonathan Morduch. p. cm.

Includes bibliographical references and index.

ISBN 0-262-01216-2 (alk. paper)

1. Microfinance. I. Morduch, Jonathan. II. Title.

HG178.3.A76 2005 332—dc22

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