Access to Capital in Rural Thailand: An Estimated Model of Formal vs. Informal Credit

Gine, Xavier

World Bank, Washington, DC

关键词: ACCOUNTING;    AGRICULTURAL BANKS;    AGRICULTURE;    BORROWING;    CAPITAL REQUIREMENT;   

DOI  :  10.1596/1813-9450-3502
RP-ID  :  WPS3502

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The aim of this paper is to understand the mechanism underlying access to credit. The author focuses on two important aspects of rural credit markets in Thailand. First, moneylenders and other informal lenders coexist with formal lending institutions such as government or commercial banks, and more recently, micro-lending institutions. Second, potential borrowers presumably face sizable transaction costs obtaining external credit. The author develops and estimates a model based on limited enforcement and transaction costs that provides a unified view of those facts. The results show that the limited ability of banks to enforce contracts, more than transaction costs, is crucial in understanding the observed diversity of lenders.