Information and Enforcement in Informal Credit Markets
Datos Bibliográficos
| ID | 9727884 |
|---|---|
| Autores | Parikshit Ghosh (Delhi School of Economics), Debraj Ray (0000-0002-5840-3051, New York University and University of Warwick) |
| Año | 2016 |
| Volumen | 83 |
| Número | 329 |
| Páginas | 59-90 |
| Fecha de publicación | 2016-01-01 |
| Peer Reviewed | Sí |
| Open Access | Sí |
| Tipo | ARTICLE |
| Revista | Economica (JOURNAL) |
| Identificadores de la revista | ISSN: 0013-0427 • E-ISSN: 1468-0335 |
| Editorial | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/ecca.12169 |
| OpenAlex | W2234399619 |
| Idioma | EN |
| Citas recibidas | 13 |
| Referencias citadas | 43 |
We study loan enforcement in informal credit markets with multiple lenders but no sharing of credit histories, and derive the dynamics of loan size and interest rates for relational lending. In the presence of a sufficient fraction of ‘natural defaulters’, the rest of the market can be incentivized against default by micro-rationing—sharper credit limits and possibly higher interest rates that serve as gateways into new borrowing relationships. When there are too few natural defaulters in the market, this can be supplemented by macro-rationing—random exclusion of some borrowers. When information collection is endogenized, multiple equilibria may arise
Business · Enforcement · Financial system · Political science · Banking stability, regulation, efficiency · Housing, Finance, and Neoliberalism · Microfinance and Financial Inclusion
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Credit Markets in Northern Nigeria
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The economics of lending with joint liability
Group lending, local information and peer selection
Group lending and individual lending with strategic default
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Group lending, repayment incentives and social collateral
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| Obras citantes distintas | 13 |
|---|---|
| Citas por año | 0,48 |
| Intervalo de citas | 1999 - 2022 (24) |
| Velocidad de citación | historical |
| Altamente citado | No |
| Tipos de cita | Neutras: 6 |