| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w25802 |
| 来源ID | Working Paper 25802 |
| Implicit and Explicit Commitment in Credit and Saving Contracts: A Field Experiment | |
| Uzma Afzal; Giovanna D'; Adda; Marcel Fafchamps; Simon R. Quinn; Farah Said | |
| 发表日期 | 2019-05-06 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | We conduct a field experiment to test the demand for flexibility and for soft and hard commitment among clients of a microfinance institution. We offer a commitment contract inspired by the rotating structure of a ROSCA. Additional treatments test ex ante demand for soft commitment (in the form of reminders), hard commitment (in the form of a penalty for missing an installment), and flexibility (an option to postpone an installment). Our design is unique in the literature for allowing us to test — using the same respondent population — how demand for explicit commitment features differs between loan and savings contracts. We find substantial demand for both credit and savings contracts but no demand for additional commitment features — either in isolation or in combination — in spite of their effectiveness in improving repayment. In particular, demand for savings is insensitive to explicit commitment features. Individuals offered loans actively dislike commitment and flexibility, unless the latter is combined with reminders. These findings complement a literature showing that commitment devices induce financial discipline. They show that demand for commitment depends on whether commitment features are implicit or explicit. |
| 主题 | Development and Growth ; Development |
| URL | https://www.nber.org/papers/w25802 |
| 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/583475 |
| 推荐引用方式 GB/T 7714 | Uzma Afzal,Giovanna D',Adda,et al. Implicit and Explicit Commitment in Credit and Saving Contracts: A Field Experiment. 2019. |
| 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 | ||
| w25802.pdf（798KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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