Informal Labour And Credit Markets
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Informal Labour And Credit Markets
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Author : Nicoletta Batini
language : en
Publisher: International Monetary Fund
Release Date : 2010-02-01
Informal Labour And Credit Markets written by Nicoletta Batini and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-02-01 with Business & Economics categories.
This paper reviews the literature on the informal economy, focusing first on empirical findings and then on existing approaches to modeling informality within both partial and general equilibrium environments. We concentrate on labour and credit markets, since these tend to be most affected by informality. The phenomenon is particularly important in emerging and other developing economies, given their high degrees of informal labour and financial services and the implications these have for the effectiveness of macroeconomic policy. We emphasize the need for dynamic general equilibrium (DGE) and ultimately dynamic stochastic general equilibrium (DSGE) models for a full understanding of the costs, benefits and policy implications of informality. The survey shows that the literature on informality is quite patchy, and that there are several unexplored areas left for research.
Informal Labour And Credit Markets
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Author :
language : en
Publisher:
Release Date : 2010
Informal Labour And Credit Markets written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Credit categories.
This paper reviews the literature on the informal economy, focusing first on empirical findings and then on existing approaches to modeling informality within both partial and general equilibrium environments. We concentrate on labour and credit markets, since these tend to be most affected by informality. The phenomenon is particularly important in emerging and other developing economies, given their high degrees of informal labour and financial services and the implications these have for the effectiveness of macroeconomic policy. We emphasize the need for dynamic general equilibrium (DGE) and ultimately dynamic stochastic general equilibrium (DSGE) models for a full understanding of the costs, benefits and policy implications of informality. The survey shows that the literature on informality is quite patchy, and that there are several unexplored areas left for research.
Rural Informal Credit Markets And The Effectiveness Of Policy Reform
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Author : Alexander Sarris
language : en
Publisher: Food & Agriculture Org.
Release Date : 1996
Rural Informal Credit Markets And The Effectiveness Of Policy Reform written by Alexander Sarris and has been published by Food & Agriculture Org. this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.
Banks Informal Money Lenders And Asymmetric Information
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Author : Patrick Avato
language : en
Publisher: GRIN Verlag
Release Date : 2012-05
Banks Informal Money Lenders And Asymmetric Information written by Patrick Avato and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-05 with Business & Economics categories.
Seminar paper from the year 2005 in the subject Economics - Monetary theory and policy, grade: A= 1,0, Johns Hopkins University (School of Advanced International Studies (SAIS)), course: Theories and Models of Economic Development, 29 entries in the bibliography, language: English, abstract: Credit markets in developing countries differ substantially from their counterparts in OECD countries. Apart from the obvious differences in institutional development, technology and productivity which are both measures for and causes of underdevelopment, typ ical LDC credit markets have two main characteristics. Firstly, their financial systems are very small compared those in industrial economies. Secondly, developing countries are characterized by very big informal financial sectors that coexist with formal credit institutions. Interestingly, credit contracts differ highly between these two sectors and there seems to be only very limited inter-sector competition. The following paper ventures to explain the persistence of these peculiarities in rural credit markets1 using the model of asymmetric information in credit markets developed by Stiglitz and Weiss. By applying the model specifically to LDC credit markets I show that asymmetric information is among the major reasons for the underdevelopment of rural credit markets. Building on these findings I then explain how Microfinance Institutions (MFI) have lately been able to overcome some of the problems of imperfect information and strive in markets formerly dominated by informal money lenders. The first part of this paper provides an overview of the typical characteristics of credit markets in developing countries, concentrating on the limited size of LDC credit markets and on the apparent dichotomy between formal and informal finance sectors. Then, the importance of financial systems for economic development is briefly outlined in order to explain the relevance of the topic of this essay. The main part of the paper then pre
Informal Credit Markets And The New Institutional Economics
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Author : Sagrario L Floro
language : en
Publisher: Routledge
Release Date : 2019-03-07
Informal Credit Markets And The New Institutional Economics written by Sagrario L Floro and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-07 with Political Science categories.
The conventional wisdomaboutcreditmarketshas been radically alteredin recent years through the introduction of elements of moral hazard,adverseselectionofrisk,and quality-price relationships. Important empiricalstudies have been published which are leading to vastly different policyimplications. This analysis has not been explicitly extended to informalcredit markets so far, although it is widely recognized that credit transactedoutside the banking circuit is quantitatively huge and qualitatively critical,especially in developing countries.This book combines the new theoretical approach to credit markets withcertain precepts of the New Institutional Economics in order to analyzeinformal credit markets. While the formal financial institutions in developingcountries carry out credit transactions within the limits set by the marketenvironment and by government policies, informal institutions evolve by aparticular selection of modes of economic behavior which are responses tointrinsic imperfections of the market. The informal sector enhances trust bymakingexistingtiesanintegralcomponentofcreditcontracts:thecontractualcomponent of informal credit capitalizes on the personalistic (social andeconomic) relationships between the transacting parties.
Banks Informal Money Lenders And Asymmetric Information
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Author : Patrick Avato
language : en
Publisher: GRIN Verlag
Release Date : 2005-06-13
Banks Informal Money Lenders And Asymmetric Information written by Patrick Avato and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-06-13 with Business & Economics categories.
Seminar paper from the year 2005 in the subject Economics - Monetary theory and policy, grade: A= 1,0, Johns Hopkins University (School of Advanced International Studies (SAIS)), course: Theories and Models of Economic Development, language: English, abstract: Credit markets in developing countries differ substantially from their counterparts in OECD countries. Apart from the obvious differences in institutional development, technology and productivity which are both measures for and causes of underdevelopment, typ ical LDC credit markets have two main characteristics. Firstly, their financial systems are very small compared those in industrial economies. Secondly, developing countries are characterized by very big informal financial sectors that coexist with formal credit institutions. Interestingly, credit contracts differ highly between these two sectors and there seems to be only very limited inter-sector competition. The following paper ventures to explain the persistence of these peculiarities in rural credit markets1 using the model of asymmetric information in credit markets developed by Stiglitz and Weiss. By applying the model specifically to LDC credit markets I show that asymmetric information is among the major reasons for the underdevelopment of rural credit markets. Building on these findings I then explain how Microfinance Institutions (MFI) have lately been able to overcome some of the problems of imperfect information and strive in markets formerly dominated by informal money lenders. The first part of this paper provides an overview of the typical characteristics of credit markets in developing countries, concentrating on the limited size of LDC credit markets and on the apparent dichotomy between formal and informal finance sectors. Then, the importance of financial systems for economic development is briefly outlined in order to explain the relevance of the topic of this essay. The main part of the paper then presents the model of asymmetric information in credit markets pioneered by Stiglitz/Weiss as a possible explanation for the causal origins of these characteristics. The last part shows how successful microfinance institutions may succeed in operating in rural credit markets by their ability to overcome problems of imperfect information.
Informal Credit Markets And The New Institutional Economics
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Author : Sagrario L. Floro
language : en
Publisher:
Release Date : 2019-09-13
Informal Credit Markets And The New Institutional Economics written by Sagrario L. Floro and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-09-13 with Agricultural credit categories.
The conventional wisdomaboutcreditmarketshas been radically alteredin recent years through the introduction of elements of moral hazard,adverseselectionofrisk,and quality-price relationships. Important empiricalstudies have been published which are leading to vastly different policyimplications. This analysis has not been explicitly extended to informalcredit markets so far, although it is widely recognized that credit transactedoutside the banking circuit is quantitatively huge and qualitatively critical,especially in developing countries.This book combines the new theoretical approach to credit markets withcertain precepts of the New Institutional Economics in order to analyzeinformal credit markets. While the formal financial institutions in developingcountries carry out credit transactions within the limits set by the marketenvironment and by government policies, informal institutions evolve by aparticular selection of modes of economic behavior which are responses tointrinsic imperfections of the market. The informal sector enhances trust bymakingexistingtiesanintegralcomponentofcreditcontracts:thecontractualcomponent of informal credit capitalizes on the personalistic (social andeconomic) relationships between the transacting parties.
Rural Credit Markets
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Author : Anita Gill
language : en
Publisher:
Release Date : 2000
Rural Credit Markets written by Anita Gill and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Agricultural credit categories.
The Informal Financial Sector In Developing Countries
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Author : Anand G. Chandavarkar
language : en
Publisher:
Release Date : 1987
The Informal Financial Sector In Developing Countries written by Anand G. Chandavarkar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1987 with Developing countries categories.
Labor Informality And Credit Market Accessibility
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Author : Alina Malkova
language : en
Publisher:
Release Date : 2023
Labor Informality And Credit Market Accessibility written by Alina Malkova and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.
This study investigates how credit market growth affects the mobility of workers between formal and informal work sectors in Russia. Formal lenders determine credit limits based on verified income, while informal workers must formalise their income to qualify for a loan. Using RLMS data and a dynamic multinomial logit model of employment, the study finds that relaxing credit restrictions increases the likelihood of transitioning from informal to formal work. Specifically, a one-standard-deviation improvement in credit market access increases informal workers' chance to formalise by 5.4 percentage points. The findings are robust across different model specifications, and simulations indicate that better credit market access can reduce informal employment.