The aim of this paper is to test empirically the role of both cognitive and structural social capital in explaining the repayment performance of individual members under joint liability borrowing in rural Armenia. Based on unique primary data collected in 2006 in Ararat, Armavir and Vayots Dzor...

Everybody knows: rural regions offer fewer possibilities for non-farm employment than urban areas. For this reason, it was the semi-subsistence farm structures that had to absorb the released workers from the big rural state enterprises and the urban-rural migrants fleeing unemployment in the...