Question: Chapter 7 Where do poor people in developing countries borrow from? Why is there high variation in the interest rates? Why don't private bankers enter

Chapter 7 Where do poor people in developing countries borrow from? Why is there high variation in the interest rates? Why don't private bankers enter the market? What is the advantage of moneylenders? Why do poor people pay a higher interest rate than the rich? In other words, why is it cheaper to lend to rich people? What is the multiplier effect? What is monopolistic lending

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