Using Repayment Data to Test across Models of Joint Liability Lending
نویسندگان
چکیده
منابع مشابه
Using Repayment Data to Test Across Models of Joint Liability Lending
Theories rationalizing joint liability lending are rich in implications for repayment rates. We exploit this fact to test four diverse models. We show that the models’ repayment implications do not always coincide. For example, higher correlation of output and borrowers’ ability to act cooperatively can raise or lower repayment, depending on the model. Data from Thai borrowing groups suggest th...
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ژورنال
عنوان ژورنال: The Economic Journal
سال: 2007
ISSN: 0013-0133,1468-0297
DOI: 10.1111/j.1468-0297.2007.02014.x