Informal Credit Markets and the New Institutional Economics: The Case of Philippine Agriculture - Couverture rigide

Floro, Sagrario L

Couverture rigide

ISBN 10 : 0367016052 ISBN 13 : 9780367016050

Editeur : Routledge, 2019

Synopsis

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.

A propos du livre

À propos de l'auteur

Sagrario L. Floro, Pan A. Yotopoulos, Stanford.

Détails de l'édition

• Éditeur: Routledge
• Date d'édition: 2019
• Langue: anglais
• ISBN 10: 0367016052
• ISBN 13: 9780367016050
• Reliure: Relié
• Nombre de pages: 146
• Coordonnées du fabricant: non disponible
• Personne responsable: non disponible