Download or read book Credit Markets for the Poor written by Patrick Bolton and published by Russell Sage Foundation. This book was released on 2005-06-30 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: Access to credit is an important means of providing people with the opportunity to make a better life for themselves. Loans are essential for most people who want to purchase a home, start a business, pay for college, or weather a spell of unemployment. Yet many people in poor and minority communities—regardless of their creditworthiness—find credit hard to come by, making the climb out of poverty extremely difficult. How dire are the lending markets in these communities and what can be done to improve access to credit for disadvantaged groups? In Credit Markets for the Poor, editors Patrick Bolton and Howard Rosenthal and an expert team of economists, political scientists, and legal and business scholars tackle these questions with shrewd analysis and a wealth of empirical data. Credit Markets for the Poor opens by examining what credit options are available to poor households. Economist John Caskey profiles how weak credit options force many working families into a disastrous cycle of short-term, high interest loans in order to sustain themselves between paychecks. Löic Sadoulet explores the reasons that community lending organizations, which have been so successful in developing countries, have failed in more advanced economies. He argues the obstacles that have inhibited community lending groups in industrialized countries—such as a lack of institutional credibility and the high cost of establishing lending networks—can be overcome if banks facilitate the community lending process and establish a system of repayment insurance. Credit Markets for the Poor also examines how legal institutions affect the ability of the poor to borrow. Daniela Fabbri and Mario Padula argue that well-meaning provisions making it more difficult for lenders to collect on defaulted loans are actually doing a disservice to the poor in credit markets. They find that in areas with lax legal enforcement of debt agreements, credit markets for the poor are underdeveloped because lenders are unwilling to take risks on issuing credit or will do so only at exorbitant interest rates. Timothy Bates looks at programs that facilitate small-business development and finds that they have done little to reduce poverty. He argues that subsidized business creation programs may lure inexperienced households into entrepreneurship in areas where little profitable investment is possible, hence setting them up for failure. With clarity and insightful analysis, Credit Markets for the Poor demonstrates how weak credit markets are impeding the social and economic mobility of the needy. By detailing the many disadvantages that impoverished people face when seeking to borrow, this important new volume highlights a significant national problem and offers solutions for the future.

Download or read book Credit Markets and Credit Policy in Developing Countries written by Arvind Virmani and published by . This book was released on 1985 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Nature of Credit Markets in Developing Countries written by Arvind Virmani and published by . This book was released on 1982 with total page 195 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Rural credit in developing countries written by Avishay Braverman and published by World Bank Publications. This book was released on 1995 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Rural Informal Credit Markets and the Effectiveness of Policy Reform written by Alexander Sarris and published by Food & Agriculture Org.. This book was released on 1996 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Politics of Finance in Developing Countries written by Stephan Haggard and published by Cornell University Press. This book was released on 2019-05-15 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ten original essays examine the political and institutional factors that influence the initiation and efficiency of preferential credit policies in Korea, Taiwan, Thailand, Indonesia, the Philippines, Chile, Mexico, and Brazil.

Download or read book Financial Systems and Economic Policy in Developing Countries written by Stephan Haggard and published by . This book was released on 1995 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using new theoretical insights and cumulative empirical evidence, editors Stephan Haggard and Chung H. Lee question the wisdom of a free-market system where financial markets are concentrated and lack prudent supervision.

Download or read book Recent Export Credit Market Developments written by International Monetary Fund and published by International Monetary Fund. This book was released on 1997-03-01 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: Export credit agencies (ECAs) have played a critical role in financing for developing countries in recent years, and officially supported export credits have been growing in volume. The current export credit exposure to developing countries and economies in transition has reached almost half a trillion dollars. This paper reviews developments in export credit markets affecting exposure, new commitments, and cover policy for developing countries and economies in transition and discusses three key issues affecting export credit markets: a more widespread involvement of ECAs in project financing transactions, a strong presence of ECAs in the market for investment insurance, and a deepening of the forfeiting market.

Download or read book Bank Lending to Developing Countries written by C. Fred Bergsten and published by . This book was released on 1985 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The government s role in japanese and Korean credit markets a new instituucional economics perspective written by Je Cho Yoon and published by World Bank Publications. This book was released on 1993 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Credit Reporting Systems and the International Economy written by Margaret J. Miller and published by MIT Press. This book was released on 2003 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first comprehensive review of credit reporting systems worldwide, including their institutional forms and evidence of their impact on financial markets. Credit reporting is a critical part of the financial system in most developed economies but is often weak or absent in developing countries. It addresses a fundamental problem of credit markets: asymmetric information between borrowers and lenders that can lead to adverse selection and moral hazard. The heart of a credit report is the record it provides of an individual's or a firm's payment history, which enables lenders to evaluate credit risk more accurately and lower loan processing time and costs. Credit reports also strengthen borrower discipline, since nonpayment with one institution results in sanctions with others. This book provides the first comprehensive review of credit reporting systems worldwide and documents the rapid growth in the industry. It offers empirical and theoretical evidence of the impact of credit reporting on financial markets, using examples from both developed and developing economies. Credit reporting, it shows, significantly contributes to predicting default risk of potential borrowers, which promotes increased lending activity. The book also covers the role of public policy in the development of credit reporting initiatives, including the role of public credit registries managed by central banks; and the role of legal, regulatory, and institutional factors in supporting credit reporting.

Download or read book Reflections on Credit Policy in Developing Contries written by and published by World Bank Publications. This book was released on with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Shortcomings in the Market for Developing Country Debt written by John Wakeman-Linn and published by World Bank Publications. This book was released on 1989 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: Creditors and highly indebted countries alike would benefit from a credit market in which penalties for default were heavier or more certain, in which multinational and international organizations were used to improve the flow of information about the debtor countries to possible creditors, and in which methods were designed to increase the precommitment of funds.

Download or read book Informal Credit Markets And The New Institutional Economics written by Sagrario L Floro and published by Routledge. This book was released on 2019-03-07 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: The conventional wisdomaboutcreditmarketshas been radically alteredin recent years through the introduction of elements of moral hazard,adverseselectionofrisk,and quality-price relationships. Important empiricalstudies have been published which are leading to vastly different policyimplications. This analysis has not been explicitly extended to informalcredit markets so far, although it is widely recognized that credit transactedoutside the banking circuit is quantitatively huge and qualitatively critical,especially in developing countries.This book combines the new theoretical approach to credit markets withcertain precepts of the New Institutional Economics in order to analyzeinformal credit markets. While the formal financial institutions in developingcountries carry out credit transactions within the limits set by the marketenvironment and by government policies, informal institutions evolve by aparticular selection of modes of economic behavior which are responses tointrinsic imperfections of the market. The informal sector enhances trust bymakingexistingtiesanintegralcomponentofcreditcontracts:thecontractualcomponent of informal credit capitalizes on the personalistic (social andeconomic) relationships between the transacting parties.

Download or read book Rural Credit Markets and Institutions in Developing Countries written by Avishay Braverman and published by . This book was released on 1986 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Informal Labour and Credit Markets written by Nicoletta Batini and published by International Monetary Fund. This book was released on 2010-02-01 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on the informal economy, focusing first on empirical findings and then on existing approaches to modeling informality within both partial and general equilibrium environments. We concentrate on labour and credit markets, since these tend to be most affected by informality. The phenomenon is particularly important in emerging and other developing economies, given their high degrees of informal labour and financial services and the implications these have for the effectiveness of macroeconomic policy. We emphasize the need for dynamic general equilibrium (DGE) and ultimately dynamic stochastic general equilibrium (DSGE) models for a full understanding of the costs, benefits and policy implications of informality. The survey shows that the literature on informality is quite patchy, and that there are several unexplored areas left for research.

Download or read book Finance at the Frontier written by Von Pischke, J. D. and published by World Bank Publications. This book was released on 1991 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book suggests how good loans can be made to individuals and firms at the 'frontier'. This frontier is not geographic, but market based. On one side are those parts of the legitimate economy that are not usually considered creditworthy by formal financial institutions, and on the other are the generally more prosperous entities that do have access to formal finance. Good loans are loans that are repaid according to the terms agreed on when they were issued. It examines how lending at the frontier can be remunerative to commercial banks, development banks and other development finance agencies that retail credit and assume credit risk. Remunerative lending is important because most lenders, regardless of their ownership and institutional form, tend to avoid activities that are not attractive. Unremunerative lending is transitory, unstable, and not robust in the face of adversity. Credit markets function poorly when lenders are not adequately rewarded. Experience at the frontier clearly indicates that weak financial institutions do not do a good job serving society in general and firms and individuals at the frontier in particular. This book is intended for readers interested in the relationship between finance and development at the firm and household levels and in the use of credit by individuals in low-income countries.