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Commercialization and the decline of joint liability microcredit
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
Number of Authors: 32018 (English)In: Journal of Development Economics, ISSN 0304-3878, E-ISSN 1872-6089, Vol. 134, p. 209-225Article in journal (Refereed) Published
Abstract [en]

Numerous authors point to a decline in joint liability microcredit, and rise in individual liability lending. But empirical evidence is lacking, and there have been no rigorous analyses of possible causes. We first show using the well-known MIX Market dataset that there is evidence for a decline. Second, we show theoretically that commercialization-an increase in competition and a shift from non-profit to for-profit lending (both of which are present in the data)-drives lenders to reduce their use of joint liability loan contracts. Third, we test the model's key predictions, and find support for them in the data.

Place, publisher, year, edition, pages
2018. Vol. 134, p. 209-225
Keywords [en]
Microfinance, Joint liability, Commercialization, Market structure
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:su:diva-160254DOI: 10.1016/j.jdeveco.2018.05.010ISI: 000441855600014OAI: oai:DiVA.org:su-160254DiVA, id: diva2:1249598
Available from: 2018-09-19 Created: 2018-09-19 Last updated: 2018-09-19Bibliographically approved

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de Quidt, Jonathan
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