Geertz, C. (1962): The Rotating Credit Association: A "middle rung" in Development. Economic and Cultural Change 10 [April], pp.241 -- 263.

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Strengthening Social Security Systems in Rural Areas of.. - Jütting (1999)   (Correct)

....for people who are otherwise excluded from financial services. Empirical studies have shown that due to a lack of usable collateral, the poor are often excluded from formal financial institutions (Thorbecke 1993) In this situation, organisations like a saving association can evolve and step in (Geertz 1962, Schrieder and Cuevas 1992) ZEF Discussion Papers on Development Policy 9 22 These groups accumulate savings to be used for individual or group investment. Moreover, the groups pool risks such as individual crop failure or illness among group members. Zeller et al. 1997) quotes examples of ....

Geertz, C. (1962): The Rotating Credit Association: A "middle rung" in Development. Economic and Cultural Change 10 [April], pp.241 -- 263.

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