| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w22686 |
| 来源ID | Working Paper 22686 |
| Borrowing Requirements, Credit Access, and Adverse Selection: Evidence from Kenya | |
| William Jack; Michael Kremer; Joost de Laat; Tavneet Suri | |
| 发表日期 | 2016-10-03 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | Do the stringent formal sector borrowing requirements common in many developing countries restrict credit access, technology adoption, and welfare? When a Kenyan dairy's savings and credit cooperative randomly offered some farmers the opportunity to replace loans with high down payments and stringent guarantor requirements with loans collateralized by the asset itself — a large water tank — loan take-up increased from 2.4% to 41.9%. (In contrast, substituting joint liability requirements for deposit requirements did not affect loan take up.) There were no repossessions among farmers allowed to collateralize 75% of their loans, and there was only a 0.7% repossession rate among those offered 96% asset collateralization. A Karlan-Zinman test based on waiving borrowing requirements ex post finds evidence of adverse selection with lowered deposit requirements, but not of moral hazard. A simple model and rough calibration suggests that adverse selection may deter lenders from making welfare-improving loans with lower deposit requirements, even after introducing asset collateralization. We estimate that 2/3 of marginal loans led to increased water storage investment. Real effects of loosening borrowing requirements include increased household water access, reductions in child time spent on water-related tasks, and greater school enrollment for girls. |
| 主题 | Development and Growth ; Development |
| URL | https://www.nber.org/papers/w22686 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/580360 |
| 推荐引用方式 GB/T 7714 | William Jack,Michael Kremer,Joost de Laat,et al. Borrowing Requirements, Credit Access, and Adverse Selection: Evidence from Kenya. 2016. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w22686.pdf（904KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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