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Book Cover
Author Floro, Sagrario L

Title Informal Credit Markets and the New Institutional Economics : the Case of Philippine Agriculture
Published Milton : Routledge, 2019


Description 1 online resource (163 pages)
Contents Cover; Half Title; Title; Copyright; Dedication; Contents; List of Tables and Figures; Foreword; Preface; 1 Introduction; Credit in Economic Development; The Role of the Informal Sector and the Plan of This Book; 2 Informal Financial Intermediation: A New Institutional Economics Perspective; The Traditional Approach to Capital Markets in LDC's; The Financial Repression Approach; Tests and Criticisms of the Financial Repression Approach; The New Institutional Economics Approach; Goods, Services and Economic Rents; Credit in the Continuum of Goods and Services
The Residuality Approach to the Informal SectorThe Testable Hypotheses; 3 Imperfections and Transaction Costs in Credit Markets; Complementarity between the Formal and Informal Credit Sectors; Asymmetry in Agricultural Credit Allocation; Asymmetry in Non-Agricultural Credit Allocation; The Residuality of the Informal Sector; The Personalistic Relationship of Informal Credit; 4 A Model of Informal Credit; Heterogeneity of Market Agents and Credit Interlinkage; A Trader-Lender Model with Market Interlinkage; A Farmer-Lender Model with Market Interlinlalge; Sorting Models
Borrower-Sorting Mechanism of Trader-LendersInterest Rate Charges of Trader-Lenders; Sorting Behavior of Farmer-Lenders; Interest Rate Charges of Farmer-Lenders; 5 An Empirical Analysis of Interlinked Credit; The Rationale for Linked Credit; The Prevalence of Linked Credit; Interest Charges and Transaction Costs; Effective Interest Rate on Linked Loans; Conclusions on the Rate of Interest; 6 An Empirical Analysis of Sorting Behavior and of Rationing Rules; Sorting Behavior; Conditional Probabilities Tests; Analysis of Variance Tests; Rationing Rules; 7 Conclusions and Policy Implications
Implications of the New Institutional Economics ApproachImplications of the Analysis of Informal Credit Markets; Implications of Market Interlinkage and Sorting; On How to Default or Not: Policy Implications; Appendix: The Survey; Bibliography; Index
Notes Print version record
Subject Agricultural credit -- Philippines
Credit -- Philippines
Rural industries -- Philippines -- Finance
SOCIAL SCIENCE -- Ethnic Studies -- Asian American Studies.
Agricultural credit
Rural industries -- Finance
Form Electronic book
ISBN 9780429694790