G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w28724
来源IDWorking Paper 28724
Digital Collateral
Paul Gertler; Brett Green; Catherine Wolfram
发表日期2021-05-03
出版年2021
语种英语
摘要A new form of secured lending utilizing “digital collateral” has recently emerged, most prominently in low and middle income countries. Digital collateral relies on “lockout” technology, which allows the lender to temporarily disable the flow value of the collateral to the borrower without physically repossessing it. We explore this new form of credit both in a model and in a field experiment using school-fee loans digitally secured with a solar home system. We find that securing a loan with digital collateral drastically reduces default rates (by 19 pp) and increases the lender’s rate of return (by 38 pp). Employing a variant of the Karlan and Zinman (2009) methodology, we decompose the total effect and find that roughly one-third is attributable to (ex-ante) adverse selection and two-thirds is attributable to (interim or ex-post) moral hazard. Access to a school-fee loan significantly increases school enrollment and school-related expenditures without detrimental effects to households’ balance sheet.
主题Financial Economics ; Financial Institutions ; Health, Education, and Welfare ; Education ; Development and Growth ; Development
URLhttps://www.nber.org/papers/w28724
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/586398
推荐引用方式
GB/T 7714
Paul Gertler,Brett Green,Catherine Wolfram. Digital Collateral. 2021.
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
w28724.pdf(647KB)智库出版物 限制开放CC BY-NC-SA浏览
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Paul Gertler]的文章
[Brett Green]的文章
[Catherine Wolfram]的文章
百度学术
百度学术中相似的文章
[Paul Gertler]的文章
[Brett Green]的文章
[Catherine Wolfram]的文章
必应学术
必应学术中相似的文章
[Paul Gertler]的文章
[Brett Green]的文章
[Catherine Wolfram]的文章
相关权益政策
暂无数据
收藏/分享
文件名: w28724.pdf
格式: Adobe PDF
此文件暂不支持浏览

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。