Through the blog of the Microcredit Summit Campaign Secretariat, I learned of a spate of articles about Indian farmers committing suicide. Some observers were quick to blame the moneylenders from whom the farmers borrowed to buy water pumps, seeds, and pesticides. Crops failed or grew feebly, and now the farmers cannot repay:
CGD Policy Blogs
I just made this up:
For a study to teach us about the world, the assumptions on which it rests must be more credible than the assumptions that it tests.
In chapter 4 (a draft is coming soon), I survey the landscape of microfinance today. First, I tell the stories of such as people and institutions Muhammad Yunus and John Hatch, Accion International and Bank Dagang Bali, who led the development of the modern microfinance methods.
CGD just posted my new working paper that explains the theory and practice of Maximum Likelihood estimation of fully observed recursive mixed-process equation systems.