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Financial Access Under the Microscope
Sumit Agarwal
Thomas Kigabo
Ms.Camelia Minoiu
Mr.Andrea F Presbitero
Andre Silva
出版
International Monetary Fund
, 2018-10-01
主題
Business & Economics / Industries / Financial Services
Business & Economics / Banks & Banking
Business & Economics / Money & Monetary Policy
ISBN
1484379594
9781484379592
URL
http://books.google.com.hk/books?id=Ket1DwAAQBAJ&hl=&source=gbs_api
EBook
SAMPLE
註釋
We examine the impact of a large-scale microcredit expansion program on financial access and the transition of previously unbanked borrowers to commercial banks. Using administrative micro-data covering the universe of loans to individuals from a developing country, we show that the program significantly increased access to credit, particularly in less developed areas. This effect is driven by the newly set-up credit cooperatives (U-SACCOs), which grant loans to previously unbanked individuals. A sizable share of first-time borrowers who need a second loan switch to commercial banks, which cream-skim low-risk borrowers and grant them larger, cheaper, and longer-term loans. These borrowers are not riskier than similar individuals already at commercial banks and only initially receive smaller loans. Our results suggest that the microfinance sector, together with a well-functioning credit reference bureau, help mitigate information frictions in credit markets.